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Innovation and Business Development - Doc

   

Added on  2021-05-31

14 Pages3202 Words79 Views
Design and Creativity
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Running head: INNOVATION AND BUSINESS DEVELOPMENTInnovation and Business DevelopmentName of the Student:Name of the University:Author’s Note:
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1INNOVATION AND BUSINESS DEVELOPMENTExecutive SummaryThe report will discuss about the concept of innovation and the way it is being used in thevarious organisation. The report will particularly focus on the company of Virgin Australia. Itwill first introduce the organisation and three HOT topics of innovation which theorganisation is using. Furthermore, the report will propose a new innovative service whichthe organisation can take the help of. The various aspects of the service like design, itsintegration, user involvement and others will also be discussed.
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2INNOVATION AND BUSINESS DEVELOPMENTTable of ContentsIntroduction................................................................................................................................3Virgin Australia..........................................................................................................................3Three HOT topics.......................................................................................................................4Innovative service......................................................................................................................5Innovation service and the organisation.....................................................................................6“Discussion about the innovation”.............................................................................................6User involvement.......................................................................................................................7Integration..................................................................................................................................8Prototyping and testing capabilities...........................................................................................9“Cross functional management”................................................................................................9Future innovations......................................................................................................................9Conclusion................................................................................................................................10References................................................................................................................................11
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3INNOVATION AND BUSINESS DEVELOPMENTIntroductionThe “process of globalization and the recent changes in the fields of innovations aswell as the technological advancements has drastically changed the way the different businessorganisations and the companies transact their business in the recent times” (Cheng, Yang &Sheu, 2014). Thus, it is generally seen that the organisations of the present business worldtake the help of various kinds of “innovations and technology” to further enhance the processof their business (Ngo & O'cass, 2013). The use of innovation for the process of business notonly allows the organisations to effectively manage their organisation but also to providequality services to the end users of the services or products offered by them. Therefore, itwould be apt to say that the organisations of the present times are using the concept ofinnovation and creativity “to bring about the overall growth as well as the development oftheir business organisation” (Holm, Günzel & Ulhøi, 2013). The report will discuss about theconcept of innovation and the way it is being used by the organisation “Virgin Australia” forthe process of their business. The report will propose also propose the idea for an innovativeproduct or service which the organisation can utilize to further enhance the prospects of itsbusiness in Australia.Virgin AustraliaFounded by Brett Godfrey and Richard Branson in 2000 “Virgin Australia” is the 2ndlargest airlines organisation of the country of Australia (Virgin Australia, 2018). Theorganisation, initially called by the name of “Blue Virgin” is currently based in the city ofBrisbane and offers 52 destinations to the people of Australia (Virgin Australia, 2018). Theorganisation provides the largest number of fleets to the customers of Australia, that is, 101.The organisation under analysis here also called by the name of “New World Carrier” isfamous for the use of strategies of “cost leadership and product differentiation” (Virgin
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