Managing Innovation in the Retail Industry

Managing Innovation
NAME OF STUDENT
NAME OF COLLEGE

Executive Summary
This report focussed on Amazon and the retail industry is considered to be very competitive in
nature owing to the numerous of firms competing in the industry. The assessment of the e-
commerce demonstrates that evolving technologies and customer expectations will lead to retail
innovations across the industry, from online-only brands to retail giants. Based on the current
trends which are shaping the e-commerce sector, the various predictions which can be made
regarding the future of the e-commerce industry in 2020 and beyond are namely growing
dominance of Digitally Narrative, Vertically Integrated Brands, growth of omnichannel
commerce, growth of Augmented Reality and Artificial Intelligence for create more connected
experiences and increase in the number of physical stores. The business model innovation of the
company empowers them in delivering a wide portfolio of customer value propositions further
serving as its primary competitive advantage. Amazon demonstrates that even when the
customers are equipped with many choices, their business model innovation has eventually made
it possible that revenues and opportunities of growth flow from elementary way a business is
placed together. The main innovation requirement of the company is access to advanced
technological which will enable them to create extraordinary customer experiences which will
help in driving the sales of retail products of the company. The other vital innovation
requirement of the company is simplified business process and positive organization culture as it
will help in determining the efficiency and productivity of the innovation initiatives and projects
of the company. The type of stakeholder approach which the company should adopt in order to
promote innovation in the organization is systems thinking approach in which the company will
engage stakeholders who impact the company’ system or sector and also should engage
marginalized people or individuals who possess lesser power. The type of stakeholder approach
which should be adopted by Amazon with intent of promoting innovation in the organization is
systems thinking approach in which the company will engage stakeholders who impact the
company’ system or sector and also should engage marginalized people or individuals who
possess lesser power. The level of engagement which Amazon must follow is deep engagement
in which the company will focus on multi-level engagement which also includes the internal
stakeholders of the company on various material issues which impact the corporate culture of the
company. There are various change management issues which can be faced by Amazon
1

regarding developing future innovation capability such as lack of resources and in-efficiency of
the human resources of the company regarding lack of required skills.
2

Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................4
Discussion........................................................................................................................................4
Conclusion.....................................................................................................................................13
References......................................................................................................................................15
3