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Managing Innovation in Business- PDF

   

Added on  2020-11-12

11 Pages2635 Words311 Views
Professional Development
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MANAGING INNOVATION IN BUSINESS
Managing Innovation in Business- PDF_1

EXECUTIVE SUMMARYThe research contains various steps to bring innovation in the business process so that anorganisation can sustain its market position in the competitive world. Innovation refers to an actwhich improves or innovates the process. This research study includes various steps followed byorganisations to bring innovation in the business activities which helps the company to developand uphold its marketplace and also helps in increasing the market-share. The research includesdifferent strategies used by organisations to develop a culture which results in benefiting theoverall organisation. Developed ideas and strategies, updated technology, improvedcommunication between team members lead to innovation in the organisation.
Managing Innovation in Business- PDF_2

Table of ContentsINTRODUCTION...........................................................................................................................2TASK...............................................................................................................................................21. The Organisation & Its Innovation History............................................................................22. The Organisations Existing Innovation Performance And Capabilities.................................33. The Industry In 2018...............................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................81
Managing Innovation in Business- PDF_3

INTRODUCTIONInnovation refers to bringing change in the process or improving the business process inorder to bring effectiveness and improvement in business operational activities which results insatisfying the needs of customers. The change in processes can be brought by implementinginnovative strategies to create better products or modify the existing offered services. Amazon isthe biggest online retailer merchant in world-wide offering variety of goods and services. TheAmazon company operates its business at many locations and have many individualist websites,consumer service & fulfilment centres and also have software development centres ininternational markets. This report will give details about Amazon company, also the activitiesand techniques used to bring innovation.TASK1. The Organisation & Its Innovation HistoryAmazon is the world's largest an e-commerce business in terms of market capitalisationand income earned. Originally, the Amazon's website i.e. amazon.com was as online book-storewhich later modified to sell online videos, audio and MP3. And it further innovated and modifiedits business activities and started selling wide range of goods and services including videogames, clothes, jewellery, food products, toys, furniture, etc. and it also has in-house brandknown as AmazonBasics(Trifilova, 2017). Evaluative approaches are applied to various business data and information aboutactivities involved in Amazon, its features and its outcomes. This is done to make judgement andto bring effectiveness and improvement in the activities involved and to make further decisionsrelated to innovation. The evaluation process helps Amazon company to find out the influencesof actions and steps taken, and it also benefits in further decision-making in an organisation. The innovation helps in meeting the requirements of customers, attract new customers,increase market share of the product or services. The innovation can be brought by bringing newideas, machinery or tools or by applying new and innovative methods to do the activities.Amazon aims at bringing innovation in its business activities to meet the changing needs ofcustomers. Amazon follows continuous evolution strategy which allows the company toexperiment in many sectors or areas and then allow them in building franchises. Theamazon.com website used to sell only books and now it sells everything and it made amazon theleader of global market(Smith and Tushman, 2015). The first product sold by amazon was a2
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