Innovation and Commercialisation Assignment Solved - Amazon

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INNOVATIONANDCOMMERCIALISATION
Table of ContentsINTRODUCTION...........................................................................................................................1BUSINESS PROBLEM...................................................................................................................1Role of innovation.......................................................................................................................1Importance of innovation............................................................................................................1Problem faced by Amazon..........................................................................................................2OPPORTUNITY..............................................................................................................................24Ps of innovation to identifying opportunities and benefits of Amazon company.....................2RISK................................................................................................................................................3Risk involved..............................................................................................................................3TIMESCALE...................................................................................................................................4Innovation funnel........................................................................................................................4ACCESS TO FUNDING.................................................................................................................5Radical change to high funding for R&D...................................................................................5Internal funding and external sources.........................................................................................5EVALUATION AND TESTING....................................................................................................5Discussing technique...................................................................................................................5P.7. Evaluate the different tools that organisations can use to develop, retain and protectknowledge and intellectual property...........................................................................................5M.5. Supported evidence based evaluation of these different tools in the context of the widerbusiness environment..................................................................................................................7D.2. Nature of innovation and how organisation can over come to develop successfulinnovation....................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONAmazon is been regarded as the top most profits earning company in world in sector of e-commerce or e-business as it is best shopping site. Amazon is American multinational companyhaving its headquarters at Washington and operating throughout the world. It is the largestinternet retail company on terms of market capitalisation and revenue and in terms of sales it issecond largest after Alibaba. Amazon is selling almost each and every product including books,electronics, fashion, house hold products, food, and video games of all company and alsoproducing its own products.BUSINESS PROBLEMRole of innovationAmazon is been regarded to as leader in term of innovation with it having an incredibleonline store as company is laying stress and focus on its various types of innovation in market ofe-commerce website (Drucker, 2014). It was started over 20 years back as garage of small sellingfirm and now it is been evolved to as global leader of worth 300 million customers.All its employees are working in way to develop technology and innovation in terms ofimproved process and applying all techniques to simplify daily processed work.The main type of innovation for company would be speed in packaging and delivery ofgoods to customers which will be ensuring accurate delivery.Amazon robotics will be the latest instance of its commitment to invent logistic foremployees and customer.Thus due to all these only company is becoming global leader in innovation and givingtoughest competition to Apple.Importance of innovationAll the importance and success of it would be essential for Amazon with able to cope upfrom competitive environment for company (Dutta and Folta, 2016). It is vital that companies areusing and implementing new and innovation techniques and process within their daily use.It would be helping company to utilize its competitive edge and penetrating into marketat more fast level.Innovation would be developing the original products of company in order to get themmore profits and confidence of getting through tough competition.1
If there is innovative culture in company then they would be able to work accordance toset aims and objectives and it becomes easy for them to adopt changes in environment.Problem faced by AmazonAlthough Amazon is also facing many problms related to technology and implementationof innovation but still having monopoly in e-book market.There are many disruptions into technology which company is using and in softwarewhich is leading to loss of share in market (Edquist, 2013)s.There are chance of Apple and Google taking the market of Amazon Alexa or echo ifthey are not been able to innovate on rapid terms in it.Company is also facing issues related to manpower costing which would be effecting itstechnology and innovation as well.OPPORTUNITY4Ps of innovation to identifying opportunities and benefits of Amazon companyThe innovation mix can be implemented by Amazon organisation in terms of improvingits existing business process and quality of online services provision method efficiently.Paradigm:Variety of products has been serving by company by using online portal platform.Advanced and updated innovation can be made by organisation upon its business functionalitiesin order to attaining desired objectives of firm (Drucker, 2014). Frequent changes within existingbusiness process can enable business to make betterment within existing services.Figure1: 4Ps of innovation2
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