Samsung Electronics: Innovation and Commercialisation Project

This project delves into the concepts of innovation and commercialisation within the context of Samsung Electronics, a leading multinational electronics company. The assignment begins by defining innovation and its importance compared to invention, emphasizing its role in meeting consumer needs and achieving organizational goals. It explores how organizational leadership, vision, culture, and teamwork contribute to designing effective commercialisation and innovation strategies. The project then examines the 4Ps of innovation (product, process, position, and paradigm) and the innovation funnel, illustrating their practical application within Samsung. Frugal innovation is discussed, along with its relevance. Furthermore, the assignment covers the significance of the commercial funnel, the application of the New Product Development (NPD) process, and the development of an innovation business case. Various tools for formulating and protecting intellectual property are also analyzed. The project includes an analysis of innovation sources, the development of an innovative environment, and the role of frugal innovation. Finally, the project critically analyzes how innovation is developed and measured within an organizational context, providing a comprehensive overview of innovation and its impact on business success.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................4
P1. Define innovation and identifies its importance within organisation as compare with
invention......................................................................................................................................4
P2. How organisational leadership, vision, culture and teamwork can design
commercialisation and innovation..............................................................................................6
P3. 4P'S of innovation and innovation funnel use in context with organization.........................6
P4. Frugal innovation with examples how it can be used in firm...............................................8
P5. Significance of the commercial funnel and application of NPD process for
commercialisation of innovation.................................................................................................9
P6. Innovation business case for an organisation........................................................................9
P7. Different tools that an organisation can used to formulates. Intellectual property and
protect knowledge.......................................................................................................................9
M1. Analyse various sources of innovation and how organisation can hinder or develop an
environment as well as culture of innovation.............................................................................9
M2. Analyse or apply innovation funnel in to the organisational context..................................9
M3. Evaluate the role of frugal innovation in context with organisation...................................9
M4. Detailed innovation business case.....................................................................................10
M5. Present evidence based evaluation of various tools in wider organisational context........10
D1. Critically analyse how innovation is developed and measured in organisational context. 10
D2. Critically explain the nature of innovation in reference with organisation........................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
In order to make business successful, it is necessary to know about overall trends of
market. At current scenario there are lots of organisation who put huge efforts foe their
employees and employer as well. With the help of this they can make their business better and
able to achieve organisational goals effectively (Ahn, Minshall and Mortara, 2015). Whereas,
innovation is the process of transferring an idea that develops effective value for which
consumers will pay. Herein, commercialisation refers to the process of bringing unique goods
and services to market. This present assignment is based on Samsung Electronics which is
world's largest multinational electronic organisation was formed during the year of 1969 and
headquartered is in Suwon, South Korea. It deals with electronic items such as lithium-ion
batteries, semiconductors, chips as well as flesh memory devices. Further discussion will be
based on explantation of innovation and their difference between inventions or innovation. After
this it will focus on different types of innovation or discussion of the process needed to
commercialise innovation. At last, methods for protecting ideas as well as advantages or
disadvantages will get covered.
P1. Define innovation and identifies its importance within organisation as compare with
invention.
According to the present scenario, innovation plays crucial role in every business's life
which helps them to make unique and better ideas for satisfying overall needs and demand of
their customers. In reference with Samsung Electronic they always used different tools and
technologies in order to give better services to their customers. By implementing on this high
techniques strategy they can achieve its predetermined goals and objectives appropriately. There
are briefly explanation differences of these terms, those are explained below:
Innovation: It is the process of developing new ideas, creative thoughts, new
imaginations unique methods in order to fulfil customers needs and wants appropriately. It is the
only way by which firms can easily understand their consumer's demand and requirements and
able to accomplish marketing needs. Innovation always bring uniqueness in goods and services,
technologies, processes as well as business models. Therefore, innovation termed as a most
realistic and attractive approach of business to satisfy customers and increase firm's productivity
and profit. For example: Zipcar bring effective innovative ideas which allows people to rent a

near by car through the day or by the hour. With the help of this business model customers buy
car on rent as per their suitability.
Invention: It is a unique process or method in order to develop unique product in the
organisation. With the help of this firms can improve their overall goods and services to get
better results in future. Auto mobile industry is the best example of invention as modern car
launched in the year of 1886 but now a day due to higher technologies design, shape and features
of this industry has been changed. Therefore, auto mobile industry reflects evolution across the
globe.
Difference between innovation and invention
Difference Innovation Invention
Meaning It is helpful for implementation of
ideas for goods and services at
very first time.
It is the process of thinking about
goods and services that has never
been prepared ago.
Concept It is the practical implementation
of different ideas.
Think about realistic ideas in
detail.
Activities It is the wide process within the
organisation.
It has limited scope to research and
development department.
Skills It requires lots of marketing and
technical skills along with
strategic skills.
It is only needed scientific skills.
From the above explanation of innovation and invention it has been observed that, both
are necessary terms for the Samsung Electronics. With the help of innovative thoughts and ideas
they can easily implement on new strategies by which they can influence other towards its
products (Greenaway and Rudd, 2014). Therefore, it is much essential to motivate workers
within an organisation and they always able to make unique policies for their customers to gain
better success in future as well as marketplace. On the other side innovation takes unique place
within business environment so that respective firm can take better place by making different
strategies and policies for their customers. Innovative ideas will always helps this organisation to
achieve its goals by giving better performance at market.

P2. How organisational leadership, vision, culture and teamwork can design commercialisation
and innovation.
Samsung Electronics is the company which is operated at higher level within the South
Korea. Along with this there are various activities which are performed by their overall
employees and employers as well. As both are the key components of this organisation so that
they are needed to make clear vision and goals of an organisation. By having clear vision and
mission they can achieve their goals without any issues at marketplace. Therefore, it is helpful
for leaders and manager to make unique criteria of business for betterment of future.
Along with this good communication always matters a lot in each and every company in
order to perform various activities at different level. In present scenario there are lots of activities
which is performed by Samsung Electronics which always develop positive culture in the
society. By having this type of culture leaders and manager can make their unique policies for
operating overall function of this organisation in a successful way. In order to bring huge
innovation in this firm it is necessary for them to meet every day challenges within the
organisation as well as outside the organisation. On the basis of this employees can get motivates
at higher level (Hemphill, 2014). Along with they are able to develop efficient policies by
implementation on several types of process in the firm. Herein, team work is one of the better
approach which is helpful for each and every depart of respective firm. By having effective
coordination each and every employee can work accordingly and able to motivate other people
properly. For making this approach better communication scale will helps them a lot to achieve
targeted goals.
For the above information this can be said that innovation is the only way which helps
Samsung Electronics to make unique policies for gaining better profit and productivity in a
successful manner. By having unique strategies leaders and managers are able to implementation
on new techniques for giving better satisfaction to customers and society as well.
M1. Analyse various sources of innovation and how organisation can hinder or develop an
environment as well as culture of innovation.
There are lots of sources of innovation which all are helpful to bring innovative things
within an organisation so that manager can perform accordingly. In context with Samsung
Electronics they used attractive policies for its customers to satisfying needs and demands of
them. It will also beat competitors and helps to sustain its market for long duration.

M2. Analyse or apply innovation funnel in to the organisational context.
Innovation funnel considers as a broad concept of an organisation. It is applicable for all
type of business to operate their overall marketing analysis. For Samsung Electronics is
significant to determine 4P'S of marketing to gain better profit and productivity as well
(Kutvonen, Savitskaya and Salmi, 2014).
M3. Evaluate the role of frugal innovation in context with organisation.
Frugal innovation is the very essential part of innovative ideas. Each and every person
has different types of ideas in their mind but with the help of frugal innovation manager of
Samsung Electronics, they can select best idea and able to discuss with other person to reach
positive outcomes.
D1. Critically analyse how innovation is developed and measured in organisational context.
As per the Hoque, Chishty and Halloway, 2011, innovation helps business firms to make
their positive action towards product and services. With the help of this Samsung, is able to
develop positive culture at marketplace to influence different types of customers and it motivates
workers as well.
P3. 4P'S of innovation and innovation funnel use in context with organization.
In the present world, innovation develops opportunities for business in order survive for
betterment of future. Therefore, most of the organisations are using this concept to determine
their overall opportunities and find better solutions and technique to sole their present issues at
marketplace. The main aim of innovation concept is to illustrate how an idea turn in to scalable
business opportunities. It generally defines that innovative ideas always comes from the various
technology or organisational activities in order to fulfil consumer's needs and wants. When firms
properly designs and provide valuable aspects to customers then they can deliver new goods an
services effectively. In reference with Samsung Electronics they are applying unique techniques
in order to gain competitive advantages as well as firms productivity. There are 4P'S of
innovation, those are explained below:
In order to make planning 4P'S helps firm to understand overall marketing opportunities
as well as improve overall product, process, position and paradigm. It gives better direction to
Samsung Electronics to think different by which they can extend their business without any

issues. Therefore, innovation is much supportive idea process to implements on new things.
Those four elements are explained as under:
Product innovation: According to this step most of the business firms bring huge
modifications and changes in their products and services. The main motive of this step is to make
every product attractive with new and different policies. In reference with Samsung Electronics,
they do not need to switch any other product so they are stable on electronic items.
Process innovation: It mainly includes in manufacturing and distribution process as
well. Apart from this it always focuses on selling available items within marketplace. In
reference with Samsung they always used policies to target their potential customers. For this
they can use other options to bring few alteration in their manufacturing system to satisfying
customers needs (Mazzarol and et.al., 2014).
Positioning innovation: In order to give better position to industry products, Samsung is
needed to apply different strategies by which they can make attractive change in front of
customers and able to give them better services.
Paradigm innovation: It shows that which marketplace is suitable for gaining better
results for future perspective. By observing applicability of good market then Samsung is able to
bring new changes or shape in electronic items in a stipulated way. Therefore, it is necessary for
them to make effective plan of action.
Use of Innovation Funnel
Innovation funnel is generally used to define various steps that takes place to formulating
appropriate goods as well as business process. Main purpose of this innovation is to develop such
kind of goods which can fulfil customers needs and demand appropriately. In reference with
Samsung Electronics, there are so many options or initial stages by which they changed their
polices and plans effectively. According to this funnel they are able to compare many ways of
business by having lots of resources and frequency of use. So it will be helpful for this respective
firm to use this innovative things and give them better opportunities in the market. Therefore
they come up with Thin, Fanless and always connected 2-in-1 laptop option at marketplace
(Pellikka and Malinen, 2014).
P4. Frugal innovation with examples how it can be used in firm.
It refers to the appropriate product which is much attractive and having low cost. This
frugal innovation bring lots of new approaches which is not much expensive and attracts large

number of policies in business. As per this there are so many changes which are taken by
Samsung Electronics in order to fulfil their needs and wants properly. So that it is necessary for
this firm to analyse overall marketing opportunities first and then take hypothetical decision to
gain better marketing image effectively. That's why eco friendly environment always develops
positive culture at marketplace (Vaccaro and et. al., 2012).
Principles of Frugal Innovation:
Engage and literate: According to this there are several policies to know about better
condition of work. In context with Samsung they are needed to have few changes according to
customers demand.
Flex your asset: This principles define that before implementation of any strategy it is
necessary for Samsung to analyse overall market condition in a perfect manner.
Create sustainable solution: In this organisation faces few competition at marketplace
so that they are needed to make unique strategies for gaining better opportunities in future.
Shape customer behaviour: As consumers the key component of any organisation. So
that it is necessary for Samsung to develop unique policies for their workers and fulfil their
demand on time. Overall sale of 2-IN-1 laptop promote them in front of business culture (Razak,
Murray and Roberts, 2014).
Co-create value with presumer: These are very helpful for a particular business in
which customers wants to know about that innovation is good or bad.
Make innovative friends: This is really very important feature for the organisation
which directly influence people and society as well. It helps business to increase their overall
growth.
P5. Significance of the commercial funnel and application of NPD process for commercialisation
of innovation
Commercial funnel is defined as entire journey of consumers to purchase products of a
company. With the help of commercial funnel, Samsung can attract more customers and
convince them to buy their products. There are different steps associated with commercial funnel
like opinion, preference, awareness, purchase, consideration etc. All of these elements can be
used by firm to attract and impact purchasing decision of customers. Main benefits of

commercial funnel in context with Samsung are picking of right market strategy and strong bond
with customers due to which high revenues can be earned (Smith and et. al., 2014).
New product development is a process in which a new product is developed by a firm. This
new offering benefits a company in increasing their sales and customer base due to which high
profits can be earned without any compromise. Samsung is going to introduce Samsung
Microwave so that company can earn wide profits from its sale. Steps to develop a new product
are mentioned below: Idea Generation: It is the first step in which new ideas to develop a product are
generated. In case of Samsung, firm is going to introduce Samsung Microwave which
will attract the attention of customers due to their advance feature i.e. voice assistance.
This idea will benefits the company in earning high profits and revenues. Idea evaluation: Under this step, idea introduced by Samsung will be evaluated to
identify if this idea is capable to attain expected outcomes or not. If idea is not able to
achieve success, it is eliminated and new idea is considered. Development of Concept: After evaluation, idea of company is transformed into a
product concept. In context with Samsung, generate idea will be tested by small group of
customers to identify the response of customers for this product. Marketing Strategy: In this step, different strategies are formulated so that new product
can be popularised among customers and marketplace (Bianchi and et. al., 2010). Business analysis: Under this step, sales, costs, profits and other expenses of company
will be reviewed so that organisational aims can be attained in a proper manner. Development: In this phase, actual production of new product will take place i.e.
Samsung Microwave will be manufactured by incorporating required modifications. Test Marketing: Under this step, new product of Samsung will be passed from various
tests so that effectiveness of product in alluring customers can be acknowledged.
 Commercialisation: This is the last stage of NPD in which Samsung Microwave will be
launch within market so that organisational goals of Samsung will be attained.
P6. Innovation business case for an organisation
Business case is referred to the written file or document that involves all the strategies
and tactics to gain high advantage within marketplace. Business case of Samsung will include all

those information that is needed by them to compete against rival firms. For Samsung, business
case is stated below:
Executive summary: Business case of Samsung involves information about the mission,
aims and target of company along with results of marketing analysis, financial projections of
company. By this, actual performance of company can be identified in a systematic manner.
Mission statement: Mission of company is to earn high profits so that advantage over
rivals can be achieved.
Objective: Main objectives of company are stated below:
 Offering high quality products to customers to gain high revenues and market shares.
 To increase their sales by 30% in upcoming 6 months.
Resources: Main resources needed by company to produce their products are, capital,
raw material, skilled labour, expertise engineer etc. With the help of these resources, work of
company can be managed in a systematic manner (Casadesus‐Masanell and Zhu, 2013).
Market analysis: Here, manager of company adopt different strategies like market mix
strategies or porter's generic strategies so that maximum number of people can acknowledge new
products of company and market can be analysed properly.
Financial projection: To introduce new product, Samsung requires funding of 100
million pounds.
Ways of funding: There are different ways to manage funds of company. In case of
Samsung, company can take loan from bank as it is the most secured way to get large amount of
fund. Also, company will have to pay only fixed amount of interest on the taken loan which is
beneficial for company (Manpour and Aravind, 2012).
M4. Detailed innovation business case.
Business case is the better approach which is generally used by organisations in order to
make unique plan or activities to achieve goals. In context with Samsung Electronics, they
always needed to apply huge fund for implementing on new technologies. By having this type of
business mind set they can target their goals and work accordingly.
P7. Different tools that an organisation can used to formulates. Intellectual property and protect
knowledge.
There are lots of tools and techniques which are generally used to protect ownership
rights on that. Whereas, intellectual property is the process of creativity of mind like inventions

of designs, symbols, names, images and so on. With the help of this No one can use these rights
without any permission of owner of an organisation. For this there are few tools, explained
below:
Patent: It is an essential use of tools which analyse the relation of proprietor. In reference
with Samsung Electronics, they are needed to have uniqueness in their overall policies by which
they can being changes on their overall plan. The main duration of this patent is 20 years along
with it is needed renewal after accomplishing time duration.
Copyright: This is an intellectual property that decides the rights which will be taken by
the owner of the new and innovative product. If a company do not have copyright for a product,
they can't use that product without the permission of owner, otherwise concerned company may
have to face lawsuits. By this, Samsung can securely manufacture their new and innovative
products without concerning about rival firms (George, McGahan and Prabhu, 2012).
M5. Present evidence based evaluation of various tools in wider organisational context.
Patent and trade mark are always necessary for each and every organisation. In context
with Samsung they always used unique trade mark as it is most essential for them to bring
innovative forms in a perfect way. By using innovations tools they can make effective
technologies which is not copied by any other business or firm.
D2. Critically explain the nature of innovation in reference with organisation.
According to the Drucker's point of view, 2014 innovation is very helpful form which is
associated with developing and growing good image of goods and services. In context with
Samsung he said that, if they use different types of policies so that they can easily achieve their
targeted goals by giving huge facilities to customers ( Fang and et. al., 2015).
CONCLUSION
Regularity in business with specific approach is not applicable every time, therefore, it is
essential to bring few changes within the rule and policies of an organisation. There are so many
ways by which manager of an organisation think innovative and able to implement on these ratio
of policies. With the help of this they can make better plan or take positive actions towards better
decisions. Whereas, frugal innovation is one of the most important part of firm which helps to
make higher technologies to satisfy consumer's needs. Through the few changes in business
policies this can be said that employees are able to apply unique tools and strategies with lots of

innovative ideas to attract customers in a perfect way. For more development in Samsung
Electronics they are needed to have funds for successful future.