Difference Between Invention And Innovation: Successful Implementation For Growth In An Industry Essay.

Main Context

Identify the difference between invention and innovation and how innovation can be successfully implemented to achieve growth in an industry.

Demonstrate a critical awareness of the different models of innovation and how they apply to an industry case studies .

Innovations have been used as the most powerful tool by many of the well known companies to enhance the profitability of their business. It becomes very important to understand the actual meanings of these two words invention and innovation (Al-Hakim and Memmola, 2009).   There are different types of the models of innovations which critically distributes awareness among the people in order to improve the overall performances of their concerned business.  An innovative organization is the one which prepares the managers in order to face the challenges and opportunities in order to bring out the desired success for the concerned organization. For the better understanding of this research paper, Vodafone Group of United Kingdom has been taken into consideration (Al-Rodhan, 2011). The company was founded in the year 1984 and has it’s headquartered in the United Kingdom. Moreover, it has its branches in different parts of the world. The company provides mobile telecommunication services to all its customers and has acquired nearly 19.4 million of the total subscribers all around UK (Vodafone.co.uk, 2016). Moreover, there are services like voice messages over the air, fixed broadband and the data services as well as the roaming services in order to increase the reliability of the respective customers. This paper will help in distinguishing the differences between the invention and innovation and the way in which Vodafone group has implemented innovation successfully to evaluate the growth of its organization.  

The invention reflects the development process which consists of the overall engineering and the product development method. It helps in developing the concerned product wait for the help of machines. In other words, it is the new method for creating a particular object or bringing the desired result. Vodafone group critically understands the use of the invention as it helps in expanding the desired market segments throughout the different parts of the country as well as of the world (Belk, Price and Peñaloza, 2013). The company uses several innovative strategies as to evaluate its growth and received success in increasing the profitability of the entire organization. Therefore, it becomes very important to understand the differences between the invention and the innovation (Berman, 2009). Innovation is the desired action or the preferred process of innovating concerned products or services offered by the organization.  The company is engaged in providing the best possible services by bringing up the innovation in its services. The innovation in the products offered by any of the particular company plays the most important role in reducing the competition within the competitive market segments.

The Seven Dimensions of Strategic Innovation Framework

The framework of strategic framework plays the most important role in evaluating or driving the desired growth of any of the innovative company (Bessant, 2009). Vodafone group of UK uses the seven dimension of the strategic innovation to drive the desired growth of the concerned telecommunication business.  

Figure: Systematic Innovation

(Source: Finney, 2010)

T5he figure above reflects the desired seven areas where the innovation helps in increasing the efficiency and the effectiveness of the concerned business processes of the respective firm (Du, 2013).  The seven dimensions of the strategic innovation framework are as follows:

A proper manager innovation method: This is the desired approach in which the traditional and the non-traditional approaches area combined towards the business strategy (Finney, 2010). This creates a great impact on the strategies developed for the execution of the business processes of the concerned organization.

Strategic alignment: It helps in building the support for the evolution of the innovative strategies in order to increase the efficiency of the entire organization (Goldin and Mariathasan, 2014). This is basically the strategic approach to evaluating the entire business process of the concerned organization.

Consumer insight: It becomes very important to understand the desired needs of the different customizers or the articulated and the unarticulated needs to the different consumers or the customers as this will help in serving the best services and products to them.

Industry foresight: The changing trends throughout the world have increased the competition for the different companies to work as per the changing demands of the different customers (Goldin and Mariathasan, 2014). Therefore, the industry or the company needs to understand the emerging trends throughout the competitive market segments.

Competencies and the core technologies: This includes the leveraging as well as extending the corporate assets and this creates a great impact on the different competitor's presence within the market segments (Kamrani and Nasr, 2010). Moreover, this is supposed to be the most important in evaluating the desired growth of the company to a large extent.

The readiness of the organization: It is the desired ability of the organization which helps in taking action related to the execution of the business processes of the organization (Kapferer, 2012). Formulation of the strategies and implementation of the strategies helps in bringing out the positive results for the concerned organization.

Disciplined implementation: It helps in managing the desired path from the inspiration to the impact of the business. This is one of the most important dimensions that play the major role in evaluating the significant growth of the concerned organization.

Managed Innovation Method

The Vodafone group has successfully implemented these dimensions and has increased their customer base by providing the high quality of the products and services to the respective customers. The managed innovation method relies on the creative core of the desired approach.  The managed process of innovation covers the series of the activities from the start of the initiatives via implementation of the techniques (Kapferer, 2012). This process critically combines both the elements such as the unconventional and the traditional elements.  Vodafone group have implemented several technologies in order to create a great impact on the minds of the customers which will help in increasing the selling of the products offered by the company.  The innovation process helps in modifying the services provided by the organization and it is important to adapt the changes within the competitive market segments as per the changing trends. There are several companies in the competitive market segments who are offering much more enhanced services at low prices and, therefore, considering the changing trends within the market segments is considered to be most important.   The process is mainly designed as well as managed to create the strategic alignment. The implementation of the core technologies is considered to be very important as this help to innovate the products as well as the services. The innovation in the services is very important as it increase the reliability of the customers. Moreover, the Vodafone group is engaged in providing the high quality of the services and products to all its customers (Shore, 2012). The organizational readiness is considered to be most important as it helps the organization to inhibit the desired ability to act with the implementation of the new and the innovative ideas. The framework of the strategic innovation is very crucial for the development and the growth of the business. The dimensions used in this framework provide the desired ideas for the execution of the business process of the concerned organization.  Moreover, the Vodafone group of UK is mainly focusing on the strategic alignment in order to build support for the organization.  This process helps in bringing out the creative and the innovative ideas by engaging the leaders of the concerned organization. An innovative idea is very important for bringing out the desired positive results for the organization (Sollish and Semanik, 2011). Moreover, the different companies need to understand the desired differences between the invention and the innovation (Zhong and Hornik, 2013). These have different concepts and they should not be mixed up as they are considered to be very important for the evaluation of the growth of the business and these contributes in bringing out the positive results for the company. The strategic alignment can be divided as the internal alignment and the external alignment .

Innovation in Services

Internal alignment

In some of the cases, the internal alignment is considered to be very important in order to build the innovative initiative.  The most important are to select the core team executing cross-functional regarding the business process of the organization.  The Vodafone group is making the internal alignment by considering four of the different categories.   These different categories are the subject matter experts, implementers, the decision-makers and the perspectives. The leader’s plays the most crucial role in making up the strategies and this is very important for the development and growth of the business. 

External alignment 

The external alignment is very crucial in order to develop the new creative as well as the innovative ideas.  Development of the innovative ideas is very important for the evaluation of the business processes.  Vodafone group critically research the competitive market area in order to find out the desired requirements of the customers and this is very important in order to increase the profitability as well as the productivity of the organization.  

Strategic innovation methods particularly engage the method of inventive thinking which is applied not presently to the concerned goods or the invention except also to the corporation businesses models. Manufactured goods innovation is not the significant feature in the marketplace, however, the individuality as well as the advantage of the concerned business model which needs to be a determinant for this exacting matter. Development and the implementing of the strategic invention measurement in the corporation help to bring out the achievement of the exact constancy among extended as well as strategic corporation fitness. Vodafone remained merely for the longer time throughout the latest technological growth as a substitute for creating pursue on different technological advance plus innovations that provide the desired platform to increase the profitability of the concerned firm (Zhong and Hornik, 2013). Therefore, the strategic alignment is crucial as it provides the seven dimension framework to evaluate the growth of the Vodafone group. The innovative ideas and the inventions bring out the positive results for the entire Vodafone group.  The critical awareness is very important in order to bring out the success of the organization. Moreover, the strategic innovations play the vital role in the evaluation and the growth of the business of any organization and thus, Vodafone group needs to identify the desired requirements of the market segments. The changing trends throughout the competitive market increase the competition and it is important for the leaders of the firm to identify the needs to the customers as this will help to increase the customer base of the organization.  The competencies and the implementation of the technologies are very important for increasing the profitability of the form. Innovation can be introduced in the desired telecommunication companies by improving the technical equipment as this will help in providing reliability to the concerned customers. It is very important for the organization to enhance each of the department as this increase the satisfaction of the customers and it is very important to evaluate the significant growth of the firm. Therefore, the understanding and the perfect utilization of the seven dimensions helps in evaluating the growth of the entire telecommunication company.

Conclusion

The differences between the inventions and the innovation need to understand properly as this helps in bringing the best positive results for the organization. The innovation procedure helps in modifying the services provided by the association and it is important to adapt the changes within the competitive market segments as per the changing trends. Vodafone Group of United Kingdom was founded in the year 1984 and has it's headquartered in the United Kingdom. Strategic alignment helps in building the support for the evolution of the innovative strategies. Vodafone group is engaged in providing the high quality of the services and products to all its customers. The dimensions used in this framework provide the desired ideas for the execution of the business process of the concerned organization. The altering trends during the world have increased the rivalry for the dissimilar company to work as per the changing demands of the different customers.

References

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