Explain The Difference Between Invention and Innovation. Which Do You Consider The Most Important and Why? 10p - 250 Words

1. Explain the difference between invention and innovation.
Which do you consider the

most important and why? 10p – 250 words
The definition of the invention would be creation of something new, that didn’t existed until that
moment. On the other hand, innovation is improvement and reinvention of already existing idea
or product. VALUE
In the previous few decades invention was the main fuel for the businesses and humanity. Today,
many businesses started investing more in innovation rather then invention. Due to the internet,
and fast information, the competition is higher than ever., and businesses must adapt and
embrace this changes. In the last few years, the phenomenon occurs in the world, where
customers are willing to change the brand in the moment, just because of one simple mistake of
the first chosen brand. The main reason is that consumers are attacked by the advertisements
from various brands every single day. The brands, neverminding the industry, need to meet
customers needs at all time, by tracking their needs and desires, that changes faster than ever.
These changes in the consumers’ mindsets is followed by innovation, to create something that
consumers’ need or want in their everyday lives.
Invention and innovation are in close relation. In simple words, for something to be innovated in
must be invented. The innovation is related with the selling. The businesses are implementing
innovation in already existing products (production process, physical features, etc.) with the goal
to get closer to customers’ needs, make product more commercial, and ultimately sell product
faster.
The invention starts with the idea and pattern. For that idea to become usable product in
consumes’ life, most of the time it needs to be innovated and improved. The most successful
business today have ‘stolen’ the idea, but just because of their innovation that product or service
has been successful and well-known (for example Apple, Uber).
2. Why is the Sony Walkman an example of architectural innovation? 10p – 150 words
PRODUCT INNOVATION
By definition, architectural innovation is related directly to the system. Producers don’t focus on
the components of the products, nor changing it. If changes do occur when it comes to
components, usually they are minor. The main focus is on the system or product technologies
that links all of these components. The way in which system relates and combines various
components is changed and modified.
Sony Walkman when appired used no, or very little new technology, instead it used already
existing components and transfered it from one product into the other (we can say that Sony
Walkman’s innovation is architectural).
Sony Pressman, small dictation machine, is ancentor of the Sony Walkman. The company
derived its elements and place it in the Walkman. The innovator of the Walkman refused to add
any other feature to the product, because she didn’t want to be misunderstood its purpose, which
is listening to music on a go. The main feature that was discousted is recording function, the
function from the previous product that used the same components. At the end, the feature was
not added, which ultimately influenced on the people’s everyday behaviour. SELL IT TO THE
NEW MARKET
3. What is meant by radical innovation? Take an example of radical innovation and

analyse the impact it has had on society.10p – 250 words TELEPHONE, TELEVISION
Creating new industry or completely changing an existing one by its essence is called radical
innovation. In its basis it implements a new business model and revolutionary technologies,
within one industry, or in the new one. This type of innovation is most drasstical, and it destructs
the existing system (products, processes, strategies, etc.), and replacing it with something
different, new and improved. It modifies the components, their relations with each other, and the
way they are combined, which leads to new and unique outcome. Because of this, the companies
have the power to set trends. In previous decades, the radical innovation mostly occurs in the
field of technology. Radical innovation provided the impact on humanity, by solving global
issues, and resolving the problems society didn’t know that it had. The major examples of this is
the internet, along with the computer. These innovations changed the entire economies,
behaviours, market, and basically the way the society function.
The various secondary resources indicates that the world awaits even more drasticlly radical
innovation in the near future, such as robotics, artificial intelligence, genome sequencing, etc.
The Amazon is the excellent example of this innovation. Their success is based on their ability to
predict future needs of the market, and offers solution even before the needs occur. They
provided to its consumers the easiest way to get to their products via Alexa and Dash button.
Alexa is virtual assistant, that reacts on the voice commands, while Dash button is the Wi-Fi
device, by which customers can order/reorder products from certain brand just by one click. By
implementing these features they change the consumer behaviour in the way they place their
order.
4. What does Von Hipple mean when he talks about the “democratisation of innovation”?
10p – 150 words
Hippel empirical studies have shown that 10-40% of the users are involved in developing and
modifying products. In his book he explains the democratizing innovation phenomenon.
Companies and individuals present users that can implement the innovation by themselves. The
manufacturer-centred innovation is being slowly replaced by the user-centred innovation today.
In order to avoid the research and development of the product, with constant risk that it will not
be accepted amongst the consumers, users can innovate by themselves, to create the product
exactly as is wanted. The traditional, manufacture-centred way is being present for decades now.
Companies were always relaying on it, in the way that process from an idea to the usage of the
product or service is well-oiled process. The consumers’ are not involved, and their only role is
to have needs, which companies need to identify, and produce product accordingly.
Democratizing innovation brought a lot of the advantages both for the users and the maufactures.
Users benefit directly from innovations, while the companies (producers) benefit from the
innovation only when the sale happens. Therefore, it is in their interest for users to get exactly
what they wanted, as they will increase the sale.
This kind of innovation is disturbing the hierarchy of labour, but on the other hand many
consider to be future of product development, and the businesses need to adapt and modify their
R&D strategies.
4.1. Define the following terms:
a) Innovative products. 10 p
b) Trademarks. 10p
1.2. Explain how the use of innovative products and trademarks can add to the value of a
company such as Gillette. 10p
1.3. Analyse the importance to companies such as Gillette of continuing to spend large
sums on R&D even in a global downturn. 10p
1.4. Evaluate the factors that determine the level of innovation in an industry. 10p
Answers to task 1 should be a minimum of 800 words (for all questions under task 1).
5. Provide a detailed critique of any one of the theories of innovation?10p – 250 words
Dominant design is standardized design for one particular product that is agreed upon. If some
design became dominant, the companies must adapt to it, and produce alike product according to
the de facto standard.
Example of this would be Microsoft Windows. There was no dominant design in that industry,
until Microsoft launched PC operating system. At the time, operating system was new, and
undiscovered, which led to various designs of it. In the business world it is believed that people
don’t know what they want until you show it to them. Before the standard design is adopted,
there is no good and bad version of some product, due to the lack of similar products in that
sphere, therefore there is no comparasion of the products. When dominant design is adopted
people now know exactly how product should look like, and they will compare it with the next
model.
Another example is Amazon’s smartphone versus Amazon Echo. Amazon created a smartphone
too late after the dominant design was established, therefore, it wasn’t a success, but on the other
hand, their Amazon Echo’s design was not existing in the market, therefore the company’s task
was only to create a design that was just good enough to be successful.

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1. Explain the difference between invention and innovation.

Which do you consider the

3. What is meant by radical innovation? Take an example of radical innovation and

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