18 Pages
4444 Words
LO1: Explaining the context for innovation
P1: Explaining innovation and determining its success for organization comparison with invention
Innovation deals with the methods as well as the process that is being adopted by an organization for the conceptualization of the new products, ideas, as well as approaches of the existing products in a new way. It can be said that an organization is considered to be responsible for the pursuing of various type of innovations in order to achieve the level of competition.
Invention deals with the unique process, methods or composition that impacts in having utility and be non-obvious. Apart from this, it is considered to be some of the scientific as well as the technical ideas that prove to be workable. The thinking actions must be based on some practical ideas that are not being used earlier in order to have better performances for an organization.
Innovations and inventions are considered to have a direct link with each other that impacts in bringing developments for organizations. As per the critical suggestions of Tirmiziet al., (2020), invention and the innovation process result in making a conceptual framework that results in developing the process for having better organizational performances. The ideas are required to be workable that is being invented in order to have innovation for an organization. Wileyfox is considered to be one of the best UK-based organization that impacts in offering several types of innovation features among the smartphones, which impact in meeting the desires of the customers (wileyfox.com., 2020). Further, it can be added that the organization impacts in offering the 5G services for the smartphones in order to drive the competitive advantage.
P2: Explaining how organizational vision, leadership, culture and teamwork shape innovation and commercialization
Innovation and commercialization are often considered to be important for the shaping of the organizational innovation through setting a clear vision, leadership and culture. Apart from this, it can also be said that the managers of the Wileyfox are required to determine a clear objective that is required to be achieved by the team in order to have better performance along with the achievement of the level of the competition. As per the critical suggestion of Mahmood and Shafaat (2020), supportive organizational culture as well as shared leadership impacts in nurturing innovation in the employee behavior for ascertaining organizational effectiveness.
The main purpose of innovation is the creation of new ideas, whereas inventions impacts in actualizing innovation for the determination of the latest thinking ideas in order to have a better level of performances. Leadership plays an important role in increasing the level of motivation among the employees in order to work within a team unitedly for the achievement of the organizational goals for shaping commercialization. It can be said that commercialization deals with the aggregation of invention and innovation through maintaining effective communication with the customers. On the contrary to the above view, Bari et al., (2020) mentioned that the various elements of the organizational cultures include the Artifacts, Espoused Values as well as underlying assumptions that impacts in providing unique characteristics of the different classes for having better developments.
Figure 1: Elements of organizational culture
(Source: Bari et al., 2020)
M1: Analyzing different sources of innovation and how organization foster and develop a culture of innovation
The different sources of innovations include:
Unexpected Occurrences is being considered as some of the simplest as well as the easiest source for the innovation opportunities which impacts in fostering development for an organization. It can be said that providing the 5G services to consumers among smartphones is one of the unique features that are being offered by Wileyfox in order to have better performances.
Incongruities make use of logic is unique in nature and has the possibilities for the ascertainment of the innovation opportunities in order to foster development for an organization. Hence, it can be said that the chances of real possibilities for the innovations that arise between the expectation and the results of the innovation are required to be identified by the managers of Wileyfox in order to have better developments of the performances. As per the critical suggestion of Salazar (2017), in order to have a development for an organization, incongruities are regarded as one of the important elements that impact in bringing sustainability.
Process Needs are some of the other innovational sources that can be used by Wileyfox in order to have better performances for the development of the organizational cultures. The innovations that impact in setting benchmarks are required to be ascertained for the facilitation of the best-desired outcomes in the near future. On the contrary to the above view, Kollmannet al., (2020) opined that the management team impacts in maintaining an entrepreneurial orientation link that develops a positive team process for the shaping of the
Organizational cultures.
Industry and market changes is another source of innovations that results in fostering developments through the creation of tremendous opportunities for innovation. This process impacts in understanding the latest changes that prevail in the global economy for the production of the goods according to the demands of the consumers. However, Martín-Rojas et al., (2020) suggested that various types of innovative tools can be used for fostering corporate entrepreneurship in order to have the best-developed cultures.
D1: Critically analyzing how innovation is developed, embedded and measured according to the organizational context.
Innovation is being regarded as the most important factors that are to be implemented by the Wileyfox in order to have better developments in the near future. In order to increase sustainability, the management of the perspectives is being done on a long-term process which impacts in measuring the performance of the organization. The measures include:
- Return on investment metrics is regarded as one of the measurement metrics that can be used for measuring the innovations according to the organizational context. Apart from this, it can be said that investment metrics ascertains in understanding the input metrics as well as the output metric for the determination of the best-desired outcomes according to the launching of the new products and services in the global market. As per the critical suggestion of Rauf et al., (2017), the effectiveness of the HR metrics according to the innovational process can be determined with the use of the return on investment metrics.
- Organizational capability metrics is considered to be another method that can be used for the measuring of the innovations. Apart from this, it can also be said that the employees those aimed at receiving training impacts in estimating the desired potential for the evaluation of the best desired outcomes in the near future. On the other hand, Schoemaker et al., (2018) mentioned that innovations and dynamic capabilities are interlinked with each other that impacts in working together for ascertaining better developments.
LO2: Different types of innovation
P3: 4Ps of innovation and explaining the use of innovation funnel
The 4Ps of the innovation that can be used by Wileyfox for meeting the desires of the consumers through the introduction of the 5G smartphones includes:
Figure 2: 4Ps of the innovation model
(Source: Ubaid et al., 2019)
Paradigm is considered to be one of the effective processes that impact facing the latest changes that are being taken from innovative ideas in order to perform the various types of business activities. In order to overcome the threats as well as the challenges in a changing situation, the paradigm is being regarded as the most desired factors. Hence, Wileyfox is required to have a plan for the desired deliverables that are to be achieved with the use of the predetermined paradigm.
Product is the main factors that are to be offered to the customers by the organization in order to satisfy their needs. Hence, Wileyfox is required to produce the goods according to the desires of the consumers that impact in adding value to the organizations. However, Akgun et al., (2017) mentioned that in order to ascertain positiveness in marketing innovations, the 4Ps model is required to be used.
Process is considered to be the way that is being used for the delivering of the products to the customers according to the needs. The delivery process must be long in order to increase the chances of sustainability for Wileyfox. On the other hand, it can be said that if the process of the delivering services is short, the chances of sustainability will also be reduced.
Position is being determined according to the way that is being used by the organization for the achievement of the specific innovation process. Wileyfox is required to ensure in providing the best services to the consumers for increasing of the organizational performances. As per the critical suggestion of Ubaid et al., (2019), the 4Ps innovation mapping model is being used for getting advanced in the innovational process for an organization.
Innovation Funnel is regarded as the process that is being used for the development of the new ideas in order to provide the best services to the consumers for increasing organizational effectiveness. As per the critical suggestion of Anzola-Román et al., (2019), the intensity of collaboration of the innovation funnel directly and jointly impacts in increasing the innovative performances of an organization.
P4: Explaining developments in fugal innovations and providing examples according to its use
The process of the creation of the new service as well as products ideas that impacts the development of the organizational performances is being determined with the use of frugal innovations. It can be said that the innovation funnel is being used in order to reduce the complexities of the various types of goods and services offered by the organization. Apart from this, it can be further added that political, environmental, social are some of the important factors that impact the achievement of the forces of frugal innovations. Hence, the above-mentioned factors are being considered as some of the important factors that result in the shaping of the innovation process. As per the critical suggestion of Masin (2019), the idealization and the developments of the frugal innovations are considered to be effective for the ascertainment of the better performances. For example, it can be said that Wileyfox is required to introduce the 5G services among smartphones according to the desires of the consumers. Apart from this, it can be said that the organization is required to understand the political, environmental, social factors that impact in affecting the performances of the organizations. On the contrary to the above view, Knorringa et al., (2016) stated that frugal innovations ensure in bringing products and services among the different types of the consumers based on their needs for ascertaining the desired outcomes. Hence, Wileyfox must be capable of understanding the desires and perspectives of the various types of consumers in order to achieve the best quality results.
M2: Application of innovational funnel according to the organizational context
The innovational funnel is being used by the organization for the reduction of the complexities in order to make the process easier and simpler. It can be said that the perspective of the various types of customers is required to be understood with the application of the innovational funnel in order to improve the performances. It can be said that Wileyfox must ensure in the application of the innovational funnel for voting the performances at the end of the financial year. As per the critical suggestion of Abramova et al., (2019), the innovation funnel is being used for getting connected to the business challenges and the technical problems that raise due to the innovation of the new products and services. Hence, Wileyfox can enhance the application of the innovational funnel for the development of the innovative idea in order to have the desired performances.
Figure 3: Phases of the innovational funnel
(Source: Wuryaningrat et al., 2019)
The above figure results in determining the various stages that are being ascertained by the innovational funnel in order to have the best-desired performances in the near future. As per the critical opinion of Wuryaningrat et al., (2019), the different stages are being determined for the identification of the various challenges that raises during the innovation of the new products in the global market.
M3: Role of frugal innovation in an organizational context
Frugal innovation has resulted in playing the most important role for the ascertainment of profitability in Wileyfox. On the other hand, it can be said that frugal innovations have been used by Wileyfox for sustainable Growth and developments. The innovation has resulted to be cost-effective as well as quick for innovating various types of resource constraints in order to have the best-desired performances in the near future. As per the critical recommendation of Tiwari and De Waal (2019), frugal innovations impacts in playing the most effective role for gaining various types of developments in order to increase the organizational performances. Apart from this, it can be said that frugal innovations result in designing the process of thinking for the innovations of the 5G services to the consumers. On the other hand, it can be said that the system thinking is being enhanced at the macro level those impacts in the development of the organizational performance. Apart from this, it has been discovered that the frugal innovations impact the determination of new ideas during the designing as well as the developments of the new products in order to increase the chances of the earning capacity.
LO3: Process required to commercialize innovation
P5: Importance of commercial funnel and application of new product developments processing for commercialization
Commercial funnel is being used by Wileyfox in order to assist the producer for the management of the demands that prevails in the global market. New product development (NPD) is considered to be one of the most important processes that are being used for the purpose of the commercialization of the innovational process. Apart from this, it can be further added that in order to influence a large number of customers, commercial funnel is being used by Wileyfox. As per the critical suggestion of Gbadegeshin and Heinonen (2016), the application of the new product development has been used for the commercialization in the smartphone industry for the offering of the best-desired services tom the consumers. The old products that are being served by the organization are being developed with the use of the frugal innovation process in order to have the best-desired results in the near future. The marketing channels are being determined with the use of the Commercial funnel for the influencing of the customers in order to increase the percentage of sales for increasing the earning capacity.
P6: Building innovation business case and ways to access funding
Innovation business case for an organization,
Wileyfox, a smartphone company:
Wileyfox is one of the best smartphone companies that is being established in the country of UK that impacts in offering the latest facilities among the smartphones. The organization impacts in offering the smartphones that are smarter as well as faster than ever for meeting the desires of the customers. Apart from this, the organization ensures in offering high-value services to the consumers through the ascertainment of the democratic-rich alternatives smartphones (wileyfox.com., 2020). Apart from this, the organization impacts offering low choice for mobile phones in order to improve the performances in the near future.
The organization aims at targeting the high classic citizen those impacts in offering prices for the smartphones according to the features offered in it. Hence, the chances of the earning capacity are being increased by increasing the number of sales to the customers by offering them with the desired facilities. Apart from this, it has been discovered that the organization impacts in offering 5G services to the consumers, which are one great demand and has not ben offered by the other rival companies. According to the annual report, it has been discovered that the organization has impacted in maintaining a good position according to the sales performances for increasing the earning capacity of the organization in the near future.
The different way of funding includes:
- Maintaining a proper relationship with their shareholders for increasing the amount of investment in the organization.
- Taking additional loans from the financial institutions
- Increasing the number of sales for the generation of profits
M4: Measuring overall effectiveness by using appropriate techniques to test, iterate and improve
The presentation of the new and creative ideas is being generated under the innovation process, which is required to drive the competitive edge in the near future. As a result, innovation is being considered as one of the most important processes that are being required by the organization for the determination of the best-desired performances. It can be said that the products and the services offered by the organization must ensure in meeting the demands of the customers which is regarded as one of the positive sides of the organization that impacts in puling the level of the performances.
This process impacts in marking the organization as trustworthy that is an important asset for the development of the performances. Hence, customer satisfaction or feedback is being regarded as one of the most tools that can be used for the measurement of the overall effectiveness of the organization. Apart from this, development of the knowledge and intellectual property is being termed as another tool that can be used for the measurement of the effectiveness through the use of the development of the unique knowledge that drives the competitive forces. However, Elliott and Pedler (2018) stated that collaborative knowledge, as well as intellectual learning, is one of the consequent measurements that can be taken for better developments.
D2: Providing evidence-based judgements for overcoming challenges for developing successful innovations
Various types of challenges are being faced by the organization in order to have proper management of the innovational process. As a result, in order to overcome the challenges, various measures are required to be adopted by the organization for the ascertainment of the best-desired outcomes in the near future. Various innovational strategies are being utilized by the organization for the overcoming of the challenges in order to reduce the chances of the negative factors that impact in affecting the overall performances of the organizations. Some of the common challenges that are being faced by the organization for the management of the innovations include lack of collaboration among the different members of the team, lack of diversity, lack of the self-motivational level of the employees, high level of global competition, lack of the technological developments and many others. Open innovational programs are being determined by the organization for the overcoming of the challenges and improvement of the overall performances. As per the critical suggestion of Dahabieh et al., (2018), the specific innovation challenges are required to be overcome through the use of the increase in the spending habits for developing the overall performances.
LO4: Range of methods or protecting ideas
P7: Evaluating different tools used by the organization for protecting knowledge and intellectual property
The tools used for the protection of knowledge and intellectual property include:
- Copyright is regarded as the most commonly used protection that is being exclusively used during the right to copy the work of the other members. The main aim of the copyright is to protect the feelings of the idea rather than focusing on the protection of the idea for the ascertainment of the desired outcomes.
- Patents are being regarded as another method that is being utilized for the protection of the process, inventions as well as methods. This process aims at requiring disclosures of the work from the full public through the maintenance of the trade security protection. Hence, it is other methods that can be used by the organization in order to protect the subject for the matter that aims at creating a difference which is important for the achievement of the global competition level.
- Trademarks are regarded as other measures that are being taken for the protection of the brand name. The brand name is being regarded as one of the popular factors that enforce in distinguishing the products from the other products that prevail in the global economy. As per the critical statement of Chapagai (2018), trademarks aim at protecting the brand names that is being regarded as the source of the competitive advantage for the intangible assets in order to develop the security of the performances.
M5: Providing evidence-based evaluation of the tools in wider business environments
The protection of intellectual property is regarded to be meet in order to have the best-desired outcomes in the near future. Apart from this, it can be said that innovative and skillful strategies are being used in wider business environments for fostering developments. The tool that can be used includes
Convergence tool is being used for the selection of innovative ideas in order to have better performances in the near future. It makes use of the convergence tools that are more reliable as well as innovative during the comparison of the time in order to have the best-desired performance.
Divergent tool is being used for the acceptance of the diverse consideration that is required to be discussed at the same time in order t have the best-desired outcomes. As a result, it is required to be applied to the wider context in order to have wider developments for an organization.
Reference list
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