Report: Innovation and Risk Management at Australia Post - Analysis

This report provides an analysis of Australia Post's innovation and risk management strategies. It examines the company's focus on e-commerce, its efforts to connect with new customers, and its strategies for business development. The report highlights the company's successes, such as the development of new services and infrastructure, as well as its failures, including challenges with market share and financial issues. The report also explores the company's responses to technological innovation and regulatory changes. By examining the company's approach to innovation and risk, this report provides insights into the challenges and opportunities faced by Australia Post in a dynamic business environment. It also reviews the company's strategies to address its challenges and leverage its strengths to achieve sustainable growth.

INNOVATION AND RISK
MANAGEMENT
Company: Australia Post

Innovation at Australia
Post
 Australia Post focuses on the growth of
the business and prosperity of the
communities.
 The company’s purpose is to connect
with new customers with the power of e-
commerce across the globe.
 They helps in start-up and scale of
entrepreneurs and linking businesses
with new markets(Wild, 2018).

Success
 Development of utilising post office and
building network with innovation of 4000
buildings in the future.
 Innovation in transformation to digital capability
consists of tracking and managing parcels, click
and collect, and pickups with the evolvement of
the company(Kwok, 2018)s.
 Active Insights Generation by talking to
stakeholders and influencers by collaborating
with Australia Post’s CX team with
comprehensive strategy review and design
research.

Failure
 Australia Post were about to get took over as the
share price and the business was collapsing
because of not restricting of increase in innovation.
 The business of the company was losing the market
share in every individual product and faced the
problem of foreign exchange scandal due to
technology innovation while the earnings were
dropping slight badly.
 The company also faced challenges with by the
ruling of APRA (Australian Prudential Regulation
Authority) an were in the condition of difficult
situations after changes in innovation (Durkin,
2016).

References
 Durkin, P., 2016. How Australia Post CEO Ahmed Fahour delivers
innovation. [Online]
Available at:
https://www.afr.com/work-and-careers/management/how-australia-
post-ceo-ahmed-fahour-delivers-innovation-20161104-gsifys
[Accessed 3 October 2019].
 Kwok, M., 2018. Top Australian companies are learning new things
about innovation -- including that sometimes, it's not necessary.
[Online]
Available at: https://www.businessinsider.com.au/hr-leaders-
insights-on-innovation-2018-5
[Accessed 3 October 2019].
 Wild, T., 2018. How Australia Post turned the corner. [Online]
Available at: https://www.acuitymag.com/business/how-australia-
post-dodged-extinction
[Accessed 3 October 2019].