Reference no: EM132805529

Scenario and Activity

Learning Outcome 1:  Explain the context for innovation and determine the difference between invention and innovation

Learning Outcome 2: Explain the different types of innovation

Learning Outcome 3: Discuss the process required to commercialise innovation

Learning Outcome 4: Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages

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 organisation of your choice).

You have recently joined a leading Business Strategy and Innovation Consulting Firm as Junior Consultant and have been asked by the Senior Research Lead to prepare a Report on the topic of innovation and commercialisation in two parts as outlined below

P1 Explain innovation and determine its importance to organisations in comparison with 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 COMPARIOSN EXAMPLES FROM INNOVATION /INVENTION FROM DIFFERENT COMPANIES (APRT 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 organisations 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 organisational vision, leadership, culture and teamwork can shape innovation and commercialisation.
Introduction:
Meaning of orgz vision, leadership, culture, team work

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 f- drones)

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

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

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

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

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

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

conclusion.

LO2 TASK ADVISE

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
3. feasibility
4. development
5. EXIT
Conclusion:

P4 AND M3 TASK ADVISE:

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

#INTRODUCTION FOR P4
#MEANING OF FRUGAL INNOVATION
#EXPLAIN THE DEVELOPMENT OF FRUGAL IN -DRONES
#VALUES IN FRUGAL INNOVATIONS?EXPLAIN THEM FRO F-DRONES
1 AFFORDABILITY
2 SIMPLICITY
3 QUALITY
4 SUSTAINABILITY
5 OPTIMIZATION
6 REDUCE WASTAGE
7 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 commercialisation of innovation.
Task advise:
You can use the eight-stage New Product Development funnel here that was explained in the class. Apply each stage briefly to your organisation and then you need to explain the importance of Commercial Funnel ( AIDA R ) for commercialisation of innovation.

INTRODUCTION OF THE TASK:.............

WHAT IS COMMERCIAL FUNNEL:.........................

IMPORTANCE OF COMMERCIAL FUNNEL IN F-DRONES.....................(headings and explain)
1.
2.
3.
4.
5.

WHAT IS NPD..................................

8 STEPS IN NPD....................................

P7 Evaluate the different tools that organisations can use to develop, retain and protect knowledge and intellectual property:

Task advise:

1. INTRODUCTION ON THE TASK:

2. Meaning/definition of Intellectual property

3. TYPES OF INTELLECTUAL PROPERTY:
a)PATENT
b) copyright
c) Trade marks
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 TRADE MARKS, 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:

Attachment:- Guidelines.rar