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Innovation Case

The document discusses innovation and provides examples of innovative companies. It defines innovation and different types of innovation. It then gives a brief overview of 10 companies that changed their industries through innovative products or business models, such as Apple's iPhone, Tesla electric cars, Netflix streaming, Airbnb, Amazon Prime, Google Search, 3D printing, Uber, Spotify, and Square.

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36 views22 pages

Innovation Case

The document discusses innovation and provides examples of innovative companies. It defines innovation and different types of innovation. It then gives a brief overview of 10 companies that changed their industries through innovative products or business models, such as Apple's iPhone, Tesla electric cars, Netflix streaming, Airbnb, Amazon Prime, Google Search, 3D printing, Uber, Spotify, and Square.

Uploaded by

hijrahgillah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Innovation case

So, what can you learn from these failures?

• As fun as it can be to point to these case studies in failure, there’s a deeper


purpose when it comes to studying these famously expensive - and sometimes
embarrassing - flops.
• Inside each of these tories, there are some common lessons for innovators to
keep in mind:
• Customer need is everything: Don’t release a product just because you can. If
there’s no market demand for it, it won’t succeed, no matter how nifty or eye-
catching it might be. We’re talking to you, Life Savers Soda!
• Be careful with the price tag: Sometimes, a product really is worth a high
price tag - just take a look at Apple’s iPhone sales. Other times, as with
Google Glass, customers aren’t going to shell out what the company is
asking, no matter how functional it is.
Why is Innovation Important in Business?

• Meeting customer needs: By understanding the “jobs to be done” of their customers, businesses
can develop innovative solutions that better meet their needs and preferences. This approach
involves identifying the underlying reasons why customers “hire” products or services and
developing a value proposition that resonates with them.
• Differentiating from competitors: Innovation is a key way for businesses to differentiate
themselves from competitors and stand out in the marketplace. By creating unique value
propositions and offering innovative products or services, businesses can establish a
competitive advantage.
• Fostering an innovation culture: Building an innovation culture within an organization is
critical to driving ongoing innovation. This involves encouraging employees to experiment, take
risks, and share ideas, and creating an environment where innovation is valued and rewarded.
• Aligning with organizational strategy: Innovation should be aligned with
organizational strategy to ensure that it is focused on areas that will drive the most value for the
business. By integrating innovation into the overall strategy, businesses can ensure that it is
prioritized and resourced appropriately.
What is innovation
• Innovation is the process of developing and introducing new ideas,
products, services, processes, or business models that provide
value to customers and contribute to the growth and sustainability
of a business.
• On the other hand, an innovation strategy refers to the plan and
framework that organizations use to foster innovation, including the
allocation of resources, identification of innovation opportunities, and
development of processes and structures to support innovation
initiatives.
What is innovation
• here are various types of innovation that organizations can pursue,
including incremental innovation, which involves making small
improvements to existing products, processes, or services, and
disruptive innovation, which involves creating entirely new products,
services, or business models that disrupt existing markets. Other
types of innovation include radical innovation, which involves
developing completely new technologies, and open innovation, which
involves collaborating with external partners to generate new ideas
and insights.
Innovation Examples: How These Companies Changed the
Industry with Creativity

(1) Apple’s iPhone


• The iPhone is one of the most successful incremental innovation examples. The
original iPhone, released in 2007, introduced several new features such as the touch
screen interface, visual voicemail, and a built-in web browser that improved upon
existing technology. Since then, Apple has continued to innovate and improve upon the
iPhone with each new release, introducing new features such as facial recognition,
augmented reality, and advanced camera technology.
(2) Tesla Electric Cars
• Tesla’s electric cars are a prime disruptive innovation example. The company’s first
vehicle, the Roadster, was released in 2008 and was the first production electric car to
use lithium-ion battery cells. Tesla has continued to innovate with each new vehicle
release, introducing new features such as Autopilot, a self-driving system, and a
massive touchscreen interface for the dashboard.
Innovation Examples: How These Companies Changed the
Industry with Creativity

(3) Netflix Online Streaming


• Netflix’s streaming service is an example of business model innovation. The
company began as a DVD rental service, but in 2007, it launched its streaming service,
which allowed subscribers to watch TV shows and movies online. Since then, Netflix
has continued to innovate, producing its own original content and introducing new
features such as personalized recommendations and the ability to download content for
offline viewing.
(4) Airbnb
• Airbnb is a platform innovation example. The company’s platform connects
homeowners with travelers looking for unique and affordable accommodations. Since
its founding in 2008, Airbnb has expanded to over 220 countries and continues to
innovate with new features such as experiences (where locals offer unique activities to
travelers) and luxury home rentals.
Innovation Examples: How These Companies Changed the
Industry with Creativity

(5) Amazon Prime


• Amazon Prime is a service innovation example. The service was launched in
2005 and offered customers fast and free shipping on millions of items, along
with access to streaming content and exclusive discounts. Since then, Amazon has
continued to innovate with new services such as Amazon Fresh (grocery
delivery) and Amazon Go (cashier-less grocery stores).
(6) Google’s Search Engine
• Google’s search engine is a prime technological innovation example. The
company was founded in 1998 and introduced a new search algorithm that was
faster and more accurate than existing search engines. Since then, Google has
continued to innovate with new features such as voice search, image search, and
personalized search results.
Innovation Examples: How These Companies Changed the
Industry with Creativity

(7) 3D Printing
• 3D printing is a technological innovation example. The technology was first
developed in the 1980s, but it wasn’t until the early 2000s that it began to gain
widespread attention. Today, 3D printing is used in a variety of industries,
from aerospace and automotive manufacturing to healthcare and architecture.
(8) Uber
• Uber is a disruptive innovation example in the transportation industry. The
company’s ride-sharing platform connects riders with drivers, providing a
more affordable and convenient alternative to traditional taxis. Since its
founding in 2009, Uber has continued to innovate with new features such as
Uber Eats (food delivery) and electric bike and scooter rentals.
Innovation Examples: How These Companies Changed the
Industry with Creativity

(9) Spotify
• Spotify is a platform innovation example in the music industry. The company’s
platform allows users to stream music on-demand, creating a new model for
music consumption that disrupted the traditional music industry. Since its
founding in 2006, Spotify has continued to innovate with new features such as
personalized playlists and podcasts.
(10) Square
• Square is a business model innovation example in the payments industry. The
company’s mobile payment system allows small businesses to accept credit card
payments using just a smartphone or tablet. Since its founding in 2009, Square
has continued to innovate with new features such as cash advances and payroll
services.

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