Business Innovation Report: Analyzing Transfer Travel Strategies

This individual report examines the management of innovation within Transfer Travel, focusing on how the company applies innovation theories to its services. The report begins with an introduction to innovation management, highlighting its importance in responding to internal and external opportunities and fostering creativity. It then delves into two key innovation theories: Rogers' Innovation Diffusion Theory, explaining the process of adoption and diffusion, and Disruptive Innovation, discussing how new technologies can reshape markets. The report provides a historical overview of Transfer Travel's development, from its initial airport transfer services to its expansion into comprehensive travel booking services. The analysis includes the company's growth, key partnerships, and the application of disruptive innovation to offer discounted travel options. Finally, the report discusses future development, including plans for a mobile app and ongoing efforts to educate customers and streamline refund processes, highlighting Transfer Travel's commitment to continuous improvement and customer satisfaction.

MANAGING INNOVATION
-INDIVIDUAL REPORT -
TRANSFERTRAVEL

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
1. Theories of innovation.............................................................................................................1
2. Historical Development...........................................................................................................4
Future Development.....................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Management of Innovation includes the set of tools this allow managers and the workers
as well as users to cooperate by having the common understanding of their process and goals.
Innovation management also allows the organisation to respond for the internal as well as
external opportunities also the company can use its creativity by introducing the new ideas,
process as well as the products. As transfer travel is being arranged as a part of an itinerary that
give the facility of transfer from airport to hotel and hotel to hotel as well. This report is about
the managing the innovation for the transfer travel by applying the theories of innovation and
also explain its historical background that how it started as well as its future development
(Altuna and et.al., 2015).
1. Theories of innovation.
There is having many innovations that is being developed every day in all over the world. Even
many companies make it to the national and international stage to become the globally. As the
innovations become the important for the many groups of people and even for the unknown
individuals outside the groups of users (Amaro and Duarte, 2015). Many more innovations is
being never make too far outside for the groups of users. It is very important for the company to
understand all the models and theories so that the company can use it in the various steps when it
is required and this theory helps the company to reach the customers in the efficient way so it is
essentially required by the company to understand the importance of the innovation. In this
innovation diffusion theories and the technologies' acceptance model is being explained that are:
Rogers' Innovation Diffusion Theory
To understand this theory it is very important to understand the terms of innovation,
adoption and diffusion. Innovation is introduction of something new and in this something new
is being could be an idea, process and product. Adoption is when an individual or the company
integrates integrate the innovation into the life (Barrett and et.al., 2015). And in last the diffusion
theory is collective adoption process over the time as all these are interrelated to each other
adoption diffusion theory refer to the process of involving as well as spread the new idea over
the time. This theory gives the foundation for understanding the innovation and adoption as well
as the factors that influence the choice regarding the innovation. This theory is very wider in its
scope that lends itself to become flexible across the many contexts at the same it is also difficult
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to use it as the process model when the transfer travel is planning for the change in its
organisation by adopting the innovation (Buhalis and Foerste, 2015). This theory is having the
four main component of this theory is innovation, communication modes that is used in
broadcasting the information regarding the innovation, social system that is being around the
adopters for the innovation and in last the time taken by the individual to move for the process of
adoption. By interacting with these component helps in understanding that why the company
choose to adopt the innovation (De Jong and van Dijk, 2015). It is the innovation decision that
leads in adoption as well as it can reject innovation. This theory extends even beyond the
adoption process by doing the identification of five attributes that effect whether an innovation is
being adopted or not, its relative advantage, compatibility, complexity, trial ability and last the
observability. From this the company travel transfer identify how well the company has adopted
the innovation because in these benefits of the innovation is being compared with the different
alternatives that is having by the company and check that how well the innovation is fit by the
potential adopters exist the process and its workflow. It is more difficult to learn and implement
the innovation that is being perceived (Frow and et.al., 2015). It is because there is having the
complexity what they perceived is to be high. Potential adopters are those that are more likely to
accept the innovations and they have an opportunity for the experiment before making the
decision rather to adopt or not this is also termed as trial ability. Thus, the transfer travel can
analyse its innovation that it will get the success or not. Many organisations have applied the
innovation diffusion theory to analyse their current practices and plan to have more effective
diffusion and it is being useful to understand the impact in the overall context (Gibson and
Parkman, 2018).
Disruptive Innovation
It is an innovation that creates the new market and network value and it disrupts the
existing market eventually and the value network. It is the innovation that helps in creating the
new market as this term is being used in the business as well as in technology to improve the
product and service (Guttentag, 2015). It is the technology that of whose application is being
significantly affects the way in which the market and industry functions as it encourages the use
of technologies as compare to the technology itself. Travel transfer has dealing with the
sustainable technologies it is those that allows the business improve incrementally its operations
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in some predictable time frame (Palacios-Marqués, Merigó and Soto-Acosta, 2015). This
technology is being incorporated in the travel transfer company as it is primarily designed that
allows the company to remain competitive and at least they can maintain the status quo. This
innovation is very less easy for the plan and potentially it is more devastating for the companies
as they can not pay the enough attention to it. Disruptive innovation is the point of contention
and the term is being used to describe the technology that is not considered as truly disruptive
because it is not an iteration of previous technology as it is something new that creates the
unique models to make the money through innovation as it is very important for any business to
introduce the innovation in some time interval so that they can divert the customers towards
themselves the innovation can be done through introducing the innovative ways in their service
or in the products they are offering. Through this one can use the services through the help of
technology not need to tell the people individually. Travel transfer can use these innovations in
their company for the expansion of its business as it makes the company to earn more revenue by
increasing their services.
Disruptive theory is in the danger in becoming the victim in their own success, despite of
having the broad dissemination as this theory is having the core concepts that is being widely
misunderstood at the same their basic tenants is frequently misapplied. In this the essential
refinement in this theory is being appear to overshadowed by having the popularity in its initial
formulation. This theory is being criticised that the shortcomings were already been addressed as
many people speak of innovation in the transfer travel but have not read about the serious books
and of articles on the particular subject (Sindakis, Depeige and Anoyrkati, 2015). It is very
frequently that they use the term loosely that it invoke the concept of innovation and support the
opinion that whatever one wish to do. Users use this innovation to describe any situation in
which the industry can shake up form the way of doing the innovation. This says that if the
industry is smaller having the fewer resources can unseat an established business that is being the
successful in their way and they target the different segments of the market and also being
neglected by the incumbent and typically focus on the area which are profitable. At the same the
larger business concentrates on improving the products as well as services for their most
demanding customers. But the transfer travel is start up and they usually enter in to the market by
the new as well as innovative technologies as it uses to deliver products and services for
betterment of the customers by giving the services at lower prices (Sørensen and Jensen, 2015).
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The company basically provides the trips at low cost to the consumers even at the last minute if
any of their client cancel their bookings they give it to others at nominal price so that the
customers can also retain with them. Thus the company can move up from the low end of the
market even if the target customers have already uses their service. As it is primarily goes after
the public who take the transfer for their customers and this improvement is incremental advance
by the major break through (Tidd and Bessant, 2018).
2. Historical Development
To bring the continuous improvement transfer travel has bought the services of local
travel but that distinguishes it from the other alternatives of the transportation industry. Their
features meet directly in the transport hub give the opportunity to choose the class of cars and the
other additional options such as baby seats. Earlier they started with the transfer services that is
pick up from the airport to hotel or vice – versa. After some time they started giving the services
such as purpose of touristic that is they offer the services of sightseeing locations to individuals,
family to group at the same they also give the choices to the customers that they give the comfort
level from economy, comfort to premium class transfers (Palacios-Marqués, Merigó and Soto-
Acosta, 2015). In June 2016 transfer travel.com goes live as the awareness and demand grew up
with the small team is being formed and developers were hired that create and design the online
platform. They involved more staff along with brand ambassadors that they joined their team
later in the same year with the intention to expose it globally. They accommodate all kinds of
travel bookings that is including from the flights tickets to reservation of hotel, villas, cruises and
the train tickets. As the transfer travel.com brings transferable travel to it masses, provides the
simple compassionate solution of problem that most of the people don't know how to solve. This
development is being done by doing innovations by the time (Altuna and et.al., 2015). In the year
2017, transfer travel is focused on growing the key global partnership and invest in the staff by
this they had did the enormous honour to be shortlisted for the Travolutions start up of the year
award and it is celebrated in London in the prestigious award ceremony. In the year 2018, officer
of chief commercial is being hired with the partnership manager. As the key of the commercial
relationships is being expanded their team as well as offices. Moderators of customer
engagement brought the approval of listings, responding in the queries of customer and answer
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for the live chats. Their marketing team grew from the marketing manager to the content writer.
From the start of transfer travel.com they brought the extensive knowledge in industry as well as
helped in spreading the scaling as well as development of concrete strategy of growth. They
revolutionise this industry and offers the people to buy the heavy discounts in their travel plans
as it helps in solving the true problem of consumers.
From the disruptive innovation the company has made the thousand of users that is
registered can also buy and sell the unwanted travel and now they are planning to develop the
mobile app for both the apple users and for the android. The company is more energised to
educate the customers and also give them the travel bookings so they don't have to be use the
streamlined solution to recover their refund for the unwanted and non refundable travel. As the
company itself starts from the new concept that is they provide the services of ever growing
community, as they revolutionise their customers to travel as in this if the one person who has
done the pre booked and cancel at the last minute of their journey than the other willing person
can get the opportunity. From the holidays to flight as well as the hotel bookings and the cruises
can buy and sell safely and in the secure way (Xiang, Magnini and Fesenmaier, 2015).
Future Development
From the above innovation techniques they also planned to launch the Buying JumpFlight
that it is not only secure the position of the leading platform that is the bookings on pre-owned
flight it means that they rank high in the search result and the anchor at our place in the online
industry of travel. Now the users of JumpFlight also receive the benefits of modern mobile
friendly website that is being added in its security features and also the users of this company is
having more listing to choose from over there. The purchase is being increased the value of its
users that at where the company core value is being focus.
The company is also planning for the further future developments that they can make
their presence globally in all the countries so that they can earn more profit by building their
image of their brand value (Sindakis, Depeige and Anoyrkati, 2015). From the disruptive
innovation they can use the technology that the company can give as much as services in their
online application by adding the innovation in their services. As every industry is going through
the number of innovative trends and at the same it is equally important for the industry for their
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sustain. Travel industry is one of the industry in which every day innovative trends is being
introduced. For the future development it is very necessary that they provide the services of last
minute bookings as the last minute booking is increasing rapidly as the users are selecting the
last minute bookings and it is the common trend in this industry even the cab is also booked at
last minute and trip is also many time booked at last minute. If the user has done bookings on last
minute transfer travel need to provide their services even just before their arrival.
Transfertravel is trying to bring innovation within their services by enhancing their
quality of services and introducing new service i.e. adaptation of chatbots. Chatbots will make
their voice or text command booking easy and convenient for the customers. Not only this
customers will be able to check their flight or booking status as well through a plane text or voice
command. Chatbots will make it much easier for customers to conveniently known the current
status of their booking or confirm booking without having to talk to anyone. They will be able to
reschedule their bookings or flights as well (Xiang, Magnini and Fesenmaier, 2015). This will
help them to gain competitive advantage over their competitors among current market because
there are very few or approximately null competitors in the market that uses chatbots. Customers
will get attracted to the service as this is completely a new service for them and they can easily
ask their doubts, check and confirm their booking without needing to interact with anyone.
Transfertravel will be using differentiation strategy to attract their customers as in today's market
there are very few competitors who provide such chatbots service to their customers. Not only
this it will take extremely less time for the customers to get a response and answer of their
questions. This also provide them more clarity about the organization, how their booking is
processed and any other kind of information as they just need to ask the chatbot about their
doubts. This new innovative service will help them to gain competitive advantage, bring
improvement within their business, expand their customer base by retaining old customers and
targeting new customers and will also help them to increase overall jobs within their organization
as well. This disruptive innovation idea will also help them to automate their overall business
and shape their future (Gibson and Parkman, 2018).
CONCLUSION
From the above report it is being concluded that this report discuss about the innovation
that brings the growth in the transfer travel and with the help of innovation the company has
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performed very well in the market and did the massive growth. Innovation plays the major role
in all business as it makes the company transformed in offering their services they have started
the business from the local transfer and now they are serving globally and having the intention to
become the king in this industry. For this they are keep doing the innovation at the same it is
equally important to use the different techniques of innovation at various times. This report
elaborates the different theories and models of innovation that includes Rodgers innovation
diffusion theory, disruptive innovation model. This report contains the background history as
well as future development of the company.
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REFERENCES
Books and Journals
Altuna, N and et.al., 2015. Managing social innovation in for-profit organizations: the case of
Intesa Sanpaolo. European Journal of Innovation Management.18(2). pp.258-280.
Amaro, S. and Duarte, P., 2015. An integrative model of consumers' intentions to purchase travel
online. Tourism management. 46. pp.64-79.
Barrett, M and et.al., 2015. Service innovation in the digital age: key contributions and future
directions. MIS quarterly. 39(1). pp.135-154.
Buhalis, D. and Foerste, M., 2015. SoCoMo marketing for travel and tourism: Empowering co-
creation of value. Journal of Destination Marketing & Management. 4(3). pp.151-161.
De Jong, M. and van Dijk, M., 2015. Disrupting beliefs: A new approach to business-model
innovation. McKinsey Quarterly. 3. pp.66-75.
Frow, P and et.al., 2015. Managing co‐creation design: A strategic approach to
innovation. British Journal of Management, 26(3), pp.463-483.
Gibson, P. and Parkman, R., 2018. Cruise operations management: Hospitality perspectives.
Routledge.
Guttentag, D., 2015. Airbnb: disruptive innovation and the rise of an informal tourism
accommodation sector. Current issues in Tourism18(12), pp.1192-1217.
Palacios-Marqués, D., Merigó, J.M. and Soto-Acosta, P., 2015. Online social networks as an
enabler of innovation in organizations. Management Decision. 53(9). pp.1906-1920.
Sindakis, S., Depeige, A. and Anoyrkati, E., 2015. Customer-centered knowledge management:
challenges and implications for knowledge-based innovation in the public transport
sector. Journal of Knowledge Management. 19(3). pp.559-578.
Sørensen, F. and Jensen, J.F., 2015. Value creation and knowledge development in tourism
experience encounters. Tourism Management. 46. pp.336-346.
Tidd, J. and Bessant, J.R., 2018. Managing innovation: integrating technological, market and
organizational change. John Wiley & Sons.
Xiang, Z., Magnini, V.P. and Fesenmaier, D.R., 2015. Information technology and consumer
behavior in travel and tourism: Insights from travel planning using the internet. Journal
of Retailing and Consumer Services. 22. pp.244-249.
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