Business Innovation and Sustainable Business Development of Alipay

Running head: BUSINESS INNOVATION AND SUSTAINABLE BUSINESS
DEVELOPMENT OF ALIPAY
Business Innovation and sustainable business development of Alipay
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BUSINESS INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT OF ALIPAY
Executive Summary
Alipay is one of the second largest third-party online payment platform situated in China which
operates with no transaction fees. The report revealed that with an opportunistic along with
constructive business environment, Alipay can make a positive approach in the direction of
identified innovation trends that can be implemented by the company in the form of its
innovative strategy. Artificial Intelligence is one of the most innovative concepts which have
revolutionaries the technology based businesses, particularly in Alipay. The online payment
based company can ensure that the strategic alignment can deal with innovative trend associated
with Artificial Intelligence through ascertaining that every function that is followed in Alipay are
in terms of business goals understanding and technology.

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BUSINESS INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT OF ALIPAY
Table of Contents
1. Introduction..................................................................................................................................3
2. Discussion....................................................................................................................................3
2.1. Company Introduction and Selected Innovation Trend........................................................3
2.2. Innovation Concepts and Interrelationships in Alipay.........................................................4
2.3. Innovation Strategy Creation Ensuring Strategic Alignment with Organizations................7
2.4. Impact of Innovation Trend “Artificial Intelligence” on Alipay..........................................7
2.5. Recommendation on Ensuring Strategic Alignment for Addressing Innovation Trend.......9
3. Conclusion.................................................................................................................................11
References......................................................................................................................................12

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BUSINESS INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT OF ALIPAY
1. Introduction
Innovation initiatives in a company are driven by innovation strategy that is deemed to be
a subset of a company’s overall strategy. Innovation strategies explain future development of a
company’s innovation abilities along with deciding future direction of innovation activities based
on trends (Jia et al. 2018). For this reason, companies consider diagnosing certain circumstances
encompassing innovation trends in informing the innovation strategy design and development for
attaining competitive edge. The objective of the report is to analyse the case of Alipay “an online
payment platform” based in China in establishing the link between business environment,
business innovation strategy, business capabilities and value creation.
2. Discussion
2.1. Company Introduction and Selected Innovation Trend
Alipay is one of the second largest third-party online payment platform situated in China
which operates with no transaction fees. The company was initially launched in China in the year
2004 by Alibaba Group. As per the market research report, this company has the largest market
share in China having 300 million users that has control of around half of China’s online
payment sector (Alibaba., 2019). The organization offers account transfer, payment, repayment,
small amount loans, money management along with certain other services. Alipay business
operations are focused on deducting the payment from the buyers account within real-time and
also considers collecting money from shoppers to purchase foreign currency along with that
consumers are also offered with real tome payment solution. The products and services offered