MCEL60091 Explain the 4Ps of Innovation and Explain the Use of the Innovation Funnel to Examine Innovation and Commercialisation of Research (ICR) Assignment, TUM, UK

UNIT 8

LO2 TASK ADVISE(P3, P4)

P3:Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas.

Part 1:

#GIVE AN INTRODUCTION OF P3 TASK

# Explain the following 4 P’S OF INNOVATION

PRODUCT: explain and apply to F-drones product

PROCESS: explain and apply to F-drones product

POSITIONING: explain and apply to F-drones product

PARADIGM: explain and apply to F-drones product

You can also bring pictures from F-drones in the 4 PS and attach it .

Part 2:

#Meaning of Innovation Funnel?

#explain the 3 stages of Innovation Funnel:

Intelligence, (explain and apply to F-drones)

discovery and (explain and apply to F-drones)

development (explain and apply to F-drones)

#INNOVATION Funnel example with Diagram:

Explain 4 phrases: explain and apply to F-drones to shape innovation ideas

1.IDEA GENERATION

2 concept investigations

  1. feasibility
  2. development
  3. EXIT

Conclusion:

P4 AND M3 TASK ADVISE:

P4 Explain developments in frugal innovation and provide examples of how it is used in an organizational context:

#Introduction For P4

#Meaning Of Frugal Innovation

#Explain The Development Of Frugal In -Drones

#Values In Frugal Innovations☹Explain Them Fro F-Drones

  • Affordability
  • Simplicity
  • Quality
  • Sustainability
  • Optimization
  • Reduce Wastage
  • Increased Production

Principles Of Frugal Innovation In F-Drones:

  1. Do More With Less
  2. Keep It Simple
  3. Think And Act Flexibly
  4. Seek Opportunity In Adversity
  5. Follow Your Heart

Unit 8 lo3: p5,p6

P5 Explain the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialization of innovation.

Task advises:

You can use the eight-stage New Product Development funnel here that was explained in the class. Apply each stage briefly to your organization and then you need to explain the importance of Commercial Funnel ( AIDA R )  for the commercialization of innovation.

Introduction Of The Task:………….

What Is Commercial Funnel:…………………….

Importance Of Commercial Funnel In F-Drones…………………(Headings And Explain)

What Is Npd…………………………….

8 Steps In Npd………………………………

P7 Evaluate The Different Tools That Organizations Can Use To Develop, Retain And Protect Knowledge And Intellectual Property:

Task Advises:

  1. Introduction On The Task:
  2. Meaning/Definition Of Intellectual Property
  3. Types Of Intellectual Property:

A)Patent

b) copyright

c) Trademarks

d)Trade secrets

4.meaning of patent, examples, and importance of it in f drones use to develop, retain and protect knowledge and intellectual property:

5.meaning of copyright, examples, and importance of it in f drones use to develop, retain and protect knowledge and intellectual property:

6.meaning of trademarks, examples, and importance of it in f drones use to develop, retain and protect knowledge and intellectual property:

7.meaning of trade secrets, examples, and importance of it in f drones use to develop, retain and protect knowledge and intellectual property:

LO1 Explain the context for innovation and determine the difference between invention and innovation
P1 Explain innovation and determine its importance to organizations in comparison with the invention. 

P2 Explain how organizational vision, leadership, culture, and teamwork can shape innovation and commercialization.

LO2 Explain the different types of innovation
P3 Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas. 

P4 Explain developments in frugal innovation and provide examples of how it is used in an organizational context.

LO3 Discuss the process required to commercialize innovation
P5 Explain the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialization of innovation. 

P6 Build an Innovation Business Case for an organization, including ways to access funding.

LO4 Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages
P7 Evaluate the different tools that organizations can use to develop, retain and protect knowledge and intellectual property.

UNIT 8 Guidelines
Scenario and Activity At F-drones, we are building the world’s first transition drone to enable aerial deliveries to ships and offshore platforms. Our unique design will have a combination of heavy payload and long-range capabilities that would put other existing delivery drones to shame. With such incredible specs, our drone can still take-off vertically, fly like a fixed-wing aircraft, and land on a moving target. Consumer-grade drones are passe; We are building aviation-grade drones that would set high safety and reliability standards. We aim to be the leader of heavy payload drone logistics across industries in 5 years.
(F-drones or any other innovative organization of your choice).

You have recently joined a leading Business Strategy and Innovation Consulting Firm as a Junior Consultant and have been asked by the Senior Research Lead to prepare a Report on the topic of innovation and commercialization in two parts as outlined below
P1 Explain innovation and determine its importance to organizations in comparison with the invention.

# Introduction Of The F Drones And Your Role In That In Giving Report To Senior Mgr Of F-Drones
# Meaning Of Innovation /Definition Of It And Explain
# Comparison Between Innovation And Invention
#Do A Table
#Give Headings When Comparing
#Give For Each Comparison Examples From Innovation /Invention From Different Companies (Apart From F-Drones)
# Importance Of Innovation From Above To F-Drones(Give Headings And Explain)
# Importance Of Invention From Above To F-Drones(Give Headings And Explain)
Recommendation And Conclusion

M1 Analyse different sources of innovation, and how organizations can foster and develop an environment and culture of innovation.

Continue The P1 Criteria And Explain Different Sources Of Innovation What The F-Drones Can Foster (CARE) and develop an environment and culture of innovation.

P2 Explain how organizational vision, leadership, culture, and teamwork can shape innovation and commercialization.
Introduction:
Meaning of
org vision, leadership, culture, teamwork

explain how F -drones vision can help to shape its innovation (give headings and apply to f-drones)

explain how F -drones leadership can help to shape its innovation (give headings and apply to drones)

explain how F -drones culture can help to shape its innovation (give headings and apply to f-drones)

explain how F -drones teamwork can help to shape its innovation (give headings and apply to fdrones)

explain how F -drones vision can help to shape its commercialization (give headings and apply to fdrones)

explain how F -drones leadership can help to shape its commercialization (give headings and apply to f-drones)

explain how F -drones culture can help to shape its commercialization (give headings and apply to fdrones)

explain how F -drones leadership can help to shape its commercialization (give headings and apply to f-drones)

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