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Managing Innovation Assignment - Airbnb, Inc

   

Added on  2020-10-22

13 Pages4282 Words153 Views
Managing InnovationAssessment

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Innovation theories..................................................................................................................12. Theories in explaining the historical development of one or more products/services, and thepossible future development pathways of products or services..................................................5CONCLUSION................................................................................................................................8REFRENCES.................................................................................................................................10.......................................................................................................................................................11

INTRODUCTIONInnovation is the process of translating an idea or invention in the goods or serviceswhich create value for that customers will pay (Archibald and Archibald, 2016). To be calledinnovation, it is important that idea should be replicable at an economical cost and shouldsatisfying specific need. In relation to business, innovation often results when idea implementedby organisation in order to further satisfying the needs as well as expectations of customers.Whereas, diffusion in terms of innovation related to the hypothesis outlining in respect of theway that new innovation will spread throughout culture as well as societies from introduction tobroader adoption. This assignment is based on Airbnb, Inc. which is privately held globalorganisation and its headquarter in San Francisco. Respective company operates an onlinemarketplace as well as hospitality services that is accessible via its websites and mobile apps.They are serving worldwide and Airbnb, Inc. don't own any real estate listing or events as anbroker but receive commissions from every booking. Report is going to give deep knowledge about innovation which is introduced by Airbnb,Inc. for future growth and operational enhancement (Massa, Tucci and Afuah, 2017). Along withthis, detail analysis of innovation theory will be conducted for identifying factors which willassist company in bringing something innovative. It will also highlight, application part oftheories for evaluating the historical development as well as identifying future developmentpathways of products or services. MAIN BODY1. Innovation theoriesInnovation is the procedure of making something new as well as doing thing in new way.In relation to business, innovation involve the concept of improvement i.e., not doing things indifferent manner but it is related to making something better (Aalbers and Dolfsma, 2015).Moreover, innovation in terms of business involves development of latest product orimprovement in existing technology, process, design as well as marketing to solve issues,enhance efficiency, approaching new customers and lastly increasing profit. In other words itcan be said that, innovation play crucial role in growth and success of business because throughthis company retain their customers for long duration (Bocken and et. al., 2016). There areseveral types of innovation theories explanation of these are as follows :- 1

Henderson Clark Model – It is the model which depicts several situation in which anorganisation may innovative their products or services. Henderson and Clark are the person whointroduce this innovation model by them it has been noticed that Incremental-radical dichotomyalone are not sufficient in explaining what will be the better position of innovation as well as inwhat circumstances innovation can be done (Allen, Adomdza and Meyer, 2015). Moreover, theyboth wonder that what is the reason behind failing of some incumbents in catching something asstraight-forward as well as incremental innovations. For instance, Xerox which is a leadingorganisation in xerography technology get failed in developing a small plain-paper copier. Thus,investigation guide them in dividing the technological knowledge which is needed fordeveloping new products and accordingly to introducing innovations (Danaher, Biggs and Mark,2016). Along with, two new dimensions i.e., knowledge of the components and link within them,known as architectural knowledge. Respective model is based on 4 basic reasons for innovationthese are as follows:- (Source: Henderson-Clark model 1985, 2019)2Illustration 1: Henderson- Clark model (1985)

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