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(Doc) Innovation Management – Assignment

Added on - 23 Nov 2020

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MANAGING INNOVATIONS INBUSINESS
EXECUTIVE SUMMARYThe innovations are key tools for sustaining the position in rapidly changing businessenvironment. The report has described the impact of innovations in journey of Amazon. Theorganisation has used its innovative practices to explore its business activities all over the world.Amazon is the leading e-commerce retailer, which has made it possible to find almost everythingon a single click. The report has described various innovative techniques, which are used byorganisation to sustain its customers. Organisation is leaving no stone unturned to connect everypossible customer by providing vast range of products. The report has explained innovativeapproaches used by organisation in 2017 and its possibilities in the upcoming years.
TABLE OF CONTENTSEXECUTIVE SUMMARY............................................................................................................2INTRODUCTION...........................................................................................................................1OVERVIEW OF AMAZON...........................................................................................................1Current innovative practices and Capabilities of Amazon..............................................................2Innovative strategies and practices used by Amazon.............................................................2Capabilities of Amazon..........................................................................................................4Amazon in 2017..............................................................................................................................5CONCLUSION...............................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONManagement of innovation is defined as the process to implement innovative businesspractices and techniques, which are in alignment with advanced market trends. Thesemanagement practices are essential for the success of organisation as these practices help totransform business according to the most advanced and beneficial business techniques(Chase,2014).The report will focus on innovative practices used by Amazon, which encouragesworldwide success. The report will explore innovations implemented by Amazon for executingits vast expanded business. It will analyse the capabilities of Amazon and its performance of thelast year.In the past few years Amazon has involved significant innovations in its practices. Inthe past when organisation was not expanded all over the world with such massive support ofcustomers the technical innovations within Amazon has made it possible for the organisation tomake it familiar and successful brand all over the world. This report will analyse the presentinnovative strategy of organisation, which involve the expansion of organisational activities inevery sector in which consumers have potential to buy.OVERVIEW OF AMAZONAmazon officially started its business activities as an online retailer of books in 1995.With the great success, organisation made it possible to expand its business to all states of UnitedStates and to almost 45 countries within month. Mr. Jeff Bezos was the founder of Amazon whoaimed at establishing Amazon all over the world as an e-commerce industry, which can selleverything and entire range of products. Though foundation of an organisation was made in 1994with the name Cadabra but later in 1995, it was transformed into Amazon. The growing potentialof technologies and vast scope in online selling of books encourage the founder Bezos's to framethe path for online retailing services.For presenting brand as established in 1997, organisation went public for the first time.The rapid and huge success in selling books online encourages the organisation to expand itsbusiness activities beyond books. Amazon soon started in dealing with online selling ofelectronics to routine house hold products. The electronics selling helps organisation to grow anddevelop rapidly across world.By the beginning of 2000s, Amazon started to use its extremely efficient networkingskills to support more number of online stores. With the strong emphasis on networking1
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