Innovation and Sustainable Business Development: An Individual Report

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Assessment 1 - Individual Report
Project Title: Innovation and Sustainable Business Development
Student’s Full Name:
Student’s Id:
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Executive summary
Innovation and sustainable development are known to be the most vital aspect of the growth of
the business. With the help of new innovations, the organization will be able to build more
customers and also it helps the associations in solving the various issues which are impacting the
performance of the business in the international market. The organizations need to implement
such innovation by doing proper planning and strategies. This will allow the company to
introduce the new innovation in the business in the most operative manner. There are several
tools of design thinking and the organizations can use different tools of design thinking in order
to determine the most effective solution for any problem in operations of the organization.
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Contents
Executive summary.........................................................................................................................2
Introduction......................................................................................................................................4
Company- Overview........................................................................................................................5
Problems Insight..............................................................................................................................6
Problem to be solved and solution...................................................................................................6
Disciplined Entrepreneurship Canvas..............................................................................................7
Value Proposition Canvas............................................................................................................7
Critical Assumptions and uncertainties...........................................................................................8
Innovation Tools..............................................................................................................................9
References......................................................................................................................................13
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Introduction
The introduction of new innovations and development of processes in the company will allow
the organization to enhance their sales and also the companies will be able to accomplish their
main purposes and objectives. This report shows the various operations of the company E-Bay
and the introduction of a new technological trend like Artificial Intelligence in their functions so
that the company will be able to enhance the customer satisfaction rate in the organization and
also able to build more customers in the association. There are several issues which the company
E-bay is facing like a decrease in the rate of the customer and also increase in the customer
dissatisfaction rate regarding the quality they are receiving. The organization can overcome such
issues with the assistance of new innovation like AI. Artificial intelligence not only allows the
organization in identifying the preferences of the customers but also it will provide more options
to the customers so that the customers will be able to purchase more products form the
organization (CACM Staff, 2017). This report also shows the various innovative tools which can
be adopted by the organization E-bay so that the company will be able to implement new
innovation like AI most effectively.
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Company- Overview
E-bay company was established by Pierre Omidyar in the year 1995. Sooner the company
became the multinational organization and got famous for its online shopping and features they
are providing to their customers. The organization was established in the city of California and
the main purpose of this organization is to provide business to consumer and consumer the o the
consumer with the support of its official website of the organization.
E-bay organization basically deals on the online platform. This company provides different types
of products to their customers like products related to clothes, electronic products, and all
lifestyle products. Customers will be able to but the product from the company using its website
or installing the application of E-bay on smartphones. The company was able to expand its
business in different countries and now the organization operated in the 30 differeent countries.
This shows that the company big market all over the world due to which it is essential for the
company to bring new innovations in their operations so that the company able to increase its
customer retention rate. E-bay organization is famous for its online shopping and known to be
the main website for the purpose of shopping for lifestyle products.
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Problems Insight
The company provides the product to its customers with the use of an online platform and the
transactions are also done on the online platform. The company is facing various issues while
storing the data related to the transactions and also there is a decrease in the customer base in the
organization. The company needs to solve various issues which are related to customer
preferences so that the customers will be able to purchase more products form the organization
(Enrique, et. al., 2019). The company is also facing the various issues related to customer
retention in the organization which is not only impacting the profits of the company but also
hinder the performance of the organization at the international level. It is essential for the
organization to solve such issues so that the association will be able to gain a competitive
advantage in the market. As the company deals on the online platform, there are several
competitors of the company in the market like Snap deal, Amazon and Flip kart. It is essential
for the company to bring new innovations which will enhance the growth of the company more
in the international market.
Problem to be solved and solution
Problems related to the operations of the company and also related to the transactions and to
build more customers in the organization, it is essential for the company to bring more
innovations to the organization. The company can implement new innovation like AI in its
operations o that the company will be able to improve its functions and operations of the
organization. The company can also use this innovation in storing the data of the customers so
that the organization will be able to identify the various preferences of the customers and the
organization will be able to provide products of customer’s preferences. This will not only build
more customers in the organization but also enhance the customer retention rate of the
association (Yan, et. al., 2017). The company will also be able to provide more accurate
information about the customers which will assess the company in providing more quality
products to their customers. With the help of innovations like AI, the E-bay company will be
able to generate more profits on the association.
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Disciplined Entrepreneurship Canvas
Raison
The main purpose of the organization E-bay is to implement AI into the system so that it will
maintain the accurate data about the customers and the organization will be able to provide
preferable products to the customers.
Competitive advantage
More customers
Better decision making
More profits
More accuracy in the work
Value Creation
The company will be able to enhance the sales of the organization and thus it will provide more
profits in the association and the company will be able to enhance its market value (Dutrénit, ET.
AL., 2011).
Initial Market
The Market for the company like E-bay are all age group people and those customers who prefer
online shopping. The company can target those customers and can enhance the growth of the
company.
Value Proposition Canvas
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Gain Creators
Fast transaction
high-quality servicesProducts
Clothes
Lifestyle
products
Pain relievers
Gains
Increase in
customer base
Customer
job

Critical Assumptions and uncertainties
It is essential for the organization to analyze several assumptions before implementing
innovation in the functions of the organization. There are various risks which are associated with
the implementation of new innovation (Albert, 2019). The company to examine such risks so that
it will allow the organization to scheme the innovation like Artificial intelligence in the
organization. This will provide more efficiency in the company and the organization will be able
to enhance their growth more. There are various uncertainties which are related to the project,
these are mention below:
Technical feasibility- The Company mainly deals on the online platform and as a result, the
organization needs new technology so that the company will be able to provide more innovative
products to the customers.
Financial viability- The Company is known to be a big multinational company and also possess
big revenues, therefore, the company is financially stable and the project is financially viable in
the association.
Consumer attraction- Consumer attraction is much necessary for the organization as it will
allow the organization to provide those products which are required by the customer and the
company can develop products according to customer preference. This will attract more
customers and the organization will be able to build more customers in the company (Gobble,
2012).
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Effective managers

Innovation Tools
Innovation tools are an important aspect before implementing any new innovation in the
company. Innovation tools allow the organization to introduce a new innovation in the most
effective manner so that it will enhance the growth of the company more (Elsayed Abdallah,
2016). Some of the innovative tools are mention below:
Task management
This is the most important tools which allow the organization to manage all the tasks related to
the new innovation in the most effective manner. Managing the tasks effectively allow the
company to enhance the efficiency of the new innovation and also it will overcome more issues
in the organization.
Project risk management
This is also an imperative innovative tool and allows the organization to identify the various
risks associated with the new innovation like Artificial Intelligence. The company can identify
such risks and overcome those risks with the help of effective planning and strategies.
Opportunity mapping
With the help of this tool, the organization will be able to identify various opportunities which
will be created after the implementation of new innovation in the organization. Grabbing such
opportunities is crucial as it will allow the organization to enhance its growth more in the market.
The company can use this tool to determine more opportunities in the business (Béguin, et. al.,
2012).
Trend mapping
This is also known to be the key tool in the business. This tool can be used by the company E-
bay in identifying the various driving forces link with the new innovation like AI in the business.
This will allow the organization to develop more innovations and the organization will be able to
produce more innovative products in the business. The company will be able to solve the various
issues with the help of AI in the association.
Communication
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Communication is also an imperative tool n business. As t allosw then managers and employees
of the company to possess and effective communication among them. This will not only spread
more information about the new innovation in the employees but also the employees will be able
to put more efforts towards the new innovation in the company.
Improvement focus
The company can use this tool in order to identify the most effective solution for the ongoing
issues in the company. The company can use this tool so that the organization will be able to
focus more on the problems of the company and can determine the most effective solution (Zhu
& W. Jim Zheng, 2018).
Team building
The company can use this tool in order to build the most experiencde team which will consist of
different researchers and developers. This will allow the organization to tackle the new
innovation in the most effective manner. This experiencde team can provide technical assistance
to innovation.
User interview
The organization canssue tool in order to examine the various views of the new employees and
candidates. This will allow the managers of the company to collect more information about the
latest trend in the market and the organization will be able to develop new innovations.
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Reflection
With the help of this assignment, I was able to learn the various aspectsbft the process of
innovation and sustainable development in the growth of the business. I learn the fact the
innovation plays an important role in the success of the organization and the association will be
able to gaina competitive advantage in the market by developing new innovations (Davenport &
Ronanki, 2018). I have also conducted a self-examination due to which I am able to identify my
various strengths and weakness. I got to know that I possess effective communication skills and
good coordination with the team members. During the projec,t I was able to communicate with
the team members effective. I realize that I am lacking with the leadership skills as I was not able
to make effective decisions during the project.
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Conclusion
From the above segment, it can be concluded that innovation and sustainable development allow
the organization to enhanceetsr growth more in the international market. With the help of new
innovation like AI, the organization like E-bay will able to build more customer in the company
and the organization will be able to enhance the growth of the company. It also concluded that
innovative tools assess the corporations in scheming new innovations effectively.
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