he study attempts to emphasise on the idea of the business innovation in the Smartphone industry. A case study based on two leading brands such as Apple Inc. and Virgin group has been used to comprehend innovation in Small and Medium Enterprises (SME). In order to conduct the study, XYZ Pvt. Ltd. has been chosen. At the outset of the study, an importance of the innovation on the organisational employees has been discussed. Then, the study evaluates the in

The study attempts to emphasise on the idea of the business innovation in the Smartphone industry. A case study based on two leading brands such as Apple Inc. and Virgin group has been used to comprehend innovation in Small and Medium Enterprises (SME). In order to conduct the study, XYZ Pvt. Ltd. has been chosen. At the outset of the study, an importance of the innovation on the organisational employees has been discussed. Then, the study evaluates the influence of the vision statement, leadership style and the organisational culture in the workplace. Adding to this, the 4Ps (Product, Process, Position and Paradigm) of innovation has also been discussed to assess the current innovation policy of the chosen organisation, XYZ Pvt. Ltd. This assessment has been done by comparing with the Apples’ innovation policy. Furthermore, the frugal innovation policy for the chosen organisation has been critically analysed in the current research while associating with examples from the Virgin group case study. In the later phase of the study, significance of the commercial funnel and the new product development process for XYZ Pvt. Ltd has been evaluated following the given case study. Finally, a strategic recommendation has been provided by the researcher which would help the firm to develop, retain and protect knowledge, development techniques, methods and the intellectual properties rights in the current competitive marketplace.