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INTRODUCTION

Innovation can be described as to create some new idea, thoughts and concepts which  can be implement in an organisation. Innovative strategies or policies are essential to be applied for increasing productivity as well as profitability in appropriate manner. It is necessary to apply innovative or unique practices into a business to improve brand image and increase number of customers along sales (Aarikka-Stenroos and Sandberg, 2012). This report is based on En-soft which perform as best vendor of delivering software solutions in accurate way. It was founded in 1997 and highly profitable from that time as it grows to annual revenue of 10 million pounds. This assignment will discuss about innovation with its importance and role of vision, leadership or culture to shape commercialisation. It also includes 4P's of innovation with development of frugal innovation and new product development. Different kinds of intellectual of properties of an organisation are required to be protected through utilising several tools which are given below.

TASK 1

P1Innovation and its importance

Innovation refers to to create something new to implement in business for making an effective plan of action to conduct various activities or tasks properly. Innovation and commercialisation is all about to create unique ideas to apply in business for improving their profits. Ensoft have to generate an effective through to boost up efficiency strategies for attaining better outcomes in  company. They can use several innovative technique or methods to provide software solution for clients to achieve their satisfaction in proper manner (Bagchi-Sen, 2010). Some of significances gained through innovation are given below:

  • Improvement of quality of services which are provided to customers according to needs , wants, demands and preferences of people.
  • Trendy changes or modifications can be done in effective as well as efficient way to achieve better profits in En-soft.
  • Implementing creative ideas helps to attract new client along with retaining the current one to grab more market area. 
  • Innovative concepts are also applied into several activities or tasks in manufacturing process to improve productivity on regular basis in less period of time.
  • Marketing events can be modified and make them more attractive to display in more effective way to achieve to boost up number of customers and sales of En-soft.

There are different kinds of significances which are attained by companies through applying several innovative ideas, thoughts or concepts. It will provide support to boost up productivity as well as profitability on regular basis (Bogers and West, 2010). Apart from this, innovation and invention are two different terms but seems ass similar. Differentiation between both these terms are as follows:

Innovation

Invention 

·       The term innovation can be described to create something unique for implement change or modification to get desired benefits.

·       In case of En-soft, they can make creative  strategies or policies to provide software solution service for cu8somers in appropriate manner f0or attaining desired outcomes.

·       This refers to generate anything actually fresh in terms of idea, concept to introduce a new trends in marketplace.

·       The En-soft, can prepare new inventions to launch new kind of service having unique concept or features which can attract more customers.

Both factors such as innovation and invention are beneficial but they are required to implement by observing, analysing and evaluation every aspect of particular concept. En-soft can use several innovative ideas but it is necessary to study about their strengths and weakness, this will renders support to improve opportunities and reduce impacts of threats to gain desire results.

P2 Role of vision, leadership, culture and teamwork to shape innovation and commercialisation

There are various kinds of visions and targets which are needed to be gained by organisation  properly (Bogers and West, 2012). It is mandatory to get clear about concepts behind goals or objectives of En-soft then only employees can concentrate in correct direction. Innovation is necessary to be applied in company for attaining growth of business through building effective as well as efficient strategies to generate netter outcomes. Some of factors which render support to shape innovation and commercialisation in En-soft is gi

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