Innovation With Digital Start-ups Using Corporate Accelerators

Identifying innovation

Discuss about the Innovation with digital start-ups using Corporate Accelerators.

Innovation is an important part of business development and it is adopted by the organizations in the contemporary environment. Innovation paves the way for competitive advantage in the market of the top multinational organizations. An organization gets the opportunity to resolve different issues with the help of innovating techniques (Carlson & Usher, 2016). This results in increasing productivity in the organization as the need for organizational development is understood by identifying the issues. In this way, the company is able to gain both employee and customer satisfaction. This report will focus on the innovation techniques that can be used by Pollenizer to enhance the functions of their organization.

Innovation is related to sustainability and one is not possible without the other. An organization can work closely with the community by using innovative approaches. It was found out that Pollenizer Company was dealing with the initiation of a new web start- up with minimum risk. In this respect, Pollenizer can be confronted with the idea of sustainability so that they can implement the same as an innovative approach. The idea of innovation was associated with technical co- founder of a strong and global networking process that will be able to make the problem easy to solve. It is an innovation because the company will get the opportunity to create multiple dollars as founders through this innovative approach of web start- ups. It will also involve fewer amounts of risks for the company as the activities will be conducted online and they have prior experience of introducing start- ups.

The new idea adopted by Pollenizer to introduce a web- based start up will help in the sustainable development of the organization. They will be able to find effective solution to the issues prevailing in the company and increase their productivity in the competitive market. There will be no problem in reaching out to the public, as the contemporary customers are more comfortable working online. The customers nowadays are convenient in conducting online activities rather than being physically present in specific locations (Edison, 2017). It will be useful in keeping track on the activities, as the whole thing will be done online.

However, there might be a problem in making the employees acquainted with the new techniques of innovation. They might not have prior experience in similar activities therefore additional training will be required. It will be cost- effective for a start- up initiative and the company will require cost- cutting in other unnecessary activities. As it will be a sustainable activity therefore, cost will be focused on to keep risks at minimum level. Innovation in the form of hiring technical co- founder will help the customers to make their choices accordingly regarding the services of Pollenizer. It will help the company to develop in the international market by starting more companies that are successful.      

Benefits

Given below is a table to look into the innovative business models, which will be effective for the web start- up.

Main partners	Major activities	Value Proposition	Customer relationship
·         Advertisers ·         Investors	·         Procurement of raw materials ·         Customer satisfaction by understanding their needs and wants	·         Selection from a range of different companies ·         Competitive market ·         Wide range of marketing and promotion to gather attention	·         Innovation ·         Identifying the companies that need to be built ·         Market segmentation of the companies
Important resources	Channels		Consumer segments
·         Make availability of the web- services ·         Creating brand image	·         Websites ·         Social media platforms		·         Great opportunity for the young people ·         Beneficial for the new companies to find a market ·         Success of Pollenizer by reaching global market
Cost Structures			Revenue streams
·         Marketing and promotion ·         Acquiring new companies ·         Providing international market to the new companies		·         Promotion of the services ·         Feedback from the market

Fig: Business model evaluation

Source: as created by the author

Pollenizer Company is dealing with the problem of fast introduction of web start- up that will provide lowest amount of risk. One of the main problems that the company might face is related to the cost of training the new employees on the activities of web start- up. As it is a new approach, there will not be much funding; therefore, the company will have to look for ways of cutting down costs of unnecessary activities. The management of the company should know that there are several risks involved with a start- up initiative especially when it is leading to sustainability. They will need to do contingency planning for analyzing the extent of risk and work towards its mitigation (Chang & Tzeng, 2017). For instance, they can cut down the cost of marketing and promotion to save for training expense. The target customers include experienced but non- technical customers so it will require extra effort to reach them through technical means.

The problem of sustainability can be reduced using innovation in the form of initiating a web start- up with minimum risk. Initially Pollenizer has given opportunity to 35 companies and after using the web start- up, they will be able to build business for many more companies. A web start- up with minimum risk will be helpful in making the company activities easy. The use of innovation within the company will be effective in increasing the final output in the form of building up more successful companies.

It will be good for the company as soon as they can cope up with the issues faced by Pollenizer. It will be possible only by integrating the innovative approach of sustainability in the web- start up. This is because the company will be able to earn multiple dollars by reaching the global market and the founders will be mostly benefitted from the same. Innovation in their process will be helpful in reaching out to the target customers who are experienced but non- technical entrepreneurs. By gathering their attention through successful marketing and promotion, Pollenizer will be able to gain competitive advantage in the form of finding own team and off- shoring of the company activities. It can be stated that they will excel in this as they have found innovation in the form of technical training to meet the business requirement. Moreover, the company has initially succeeded in building up 35 enterprises an earned $15m to return $40m to the stakeholders. It will also help them in establishing their business in the international market by working with partners in the similar business.

Developing case document

On one hand, the new business idea was enhanced and on the other, the capability of Pollenizer was evaluated. The demands of the new companies were met in the form of setting new market for them. The company could understand their present prowess and gauge the required ability for further success. The benefits of the new business concept were felt in terms of meeting the demands of the new enterprises and entrepreneurs. The web start- up will not only help in their international establishment but also for the small and new enterprises. Web based activities will help in productivity enhancement of Pollenizer. The company can measure the capability of the new enterprises and set the platform accordingly.

At the same time, it is important that the constraints and issues related to the business concept are not ignored. Weiblen & Chesbrough, (2015) opined that the development of online activities will help the customers to recognize the companies and the companies in reaching out to their target customers. Pollenizer was initially successful in building platforms for the business and it is expected that the new approach will also be successful in paving the way for more successful companies to emerge.

The strategic response that is required to be focused by the Pollenizer is to identify the factors, which are required for implementation within the organization. For instance, the target customers are experienced but they are not technically sound. Therefore, the company will have to deal with them strategically. As the employees will be given training on web start- up services, similarly the target customers need to be imparted sufficient knowledge on the new approach. This strategic response will be helpful in bridging the gap in the technical part among the employees and the customers. It will be a challenging factor in the initial stages as the cost will not allow such an extensive training. Pollenizer is at an advantageous position as they have targeted the customers who have prior experience so there will not be much problem in making them understand the objectives. This will be beneficial in retaining employee and customer satisfaction on one hand and boosting up organizational productivity on the other. Pollenizer will be able to gain competitive advantage by knowing about the demands of the customers and set the enterprises accordingly.

Given below is a SWOT analysis for further strategic response.

Strength ·         New and innovative approach ·         Customers get to chose from a wide range of options ·         Training of the team members ·         They are a technical partner in the business	Weakness ·         Cost- effective ·         Technical gap among the target audience ·         No specific partners to build start- up business
Opportunities ·         Scope of setting up business in the international market ·         Opportunity to build up more successful enterprises ·         Scope of earning billions of dollars for the founders	Threat ·         Threat from the competition of off-shoring and finding own team ·         Lack of understanding among the customers who are not technologically sound

Fig: SWOT Analysis

Source: As created by the author

The project option can be analyzed as per the financial analysis of the innovation conducted in the business of Pollenizer. Moreover, it is required to adapt to the development of the innovation approach and its application in the initial days of the web start- up.

Fig: Calculation

Source: As created by the author

The analysis of the innovative approach has suggested that cost, time and risk are the three factors that need to be focused on while implementing the process. These will be important in considering the value proposition of the business models. The management need to take precautionary steps in mitigating the risks associated with the new and sustainable approaches as much as possible. Pollenizer needs to assure that their approach should remain unique as well as reduce the cost of unnecessary activities. They need not experiment with new changes because they have initially achieved success by building up 35 new technologies with their traditional approach. Therefore, it can be suggested that implementing more than necessary approaches might disrupt the processes. As web start- up will be new and innovative, therefore the company must not ignore the challenges and issues that come with new techniques. Apart from that, they should try to market and promote the innovation in a creative way, which will attract customer attention as well as reduce additional cost of the company. Attracting customers on social media platform can be suggested as an appropriate way for cutting cost. Training of the employees will be done in such a manner that no new equipments are required.

Conclusion

It can be concluded from the report that Pollenizer intends to sustain its popularity in the competitive market of building new enterprises. They are also planning to reach the target customers in an innovative way and get hold of the international market. The innovation will be done in a sustainable manner by cutting out extra cost. It will be helpful in introducing a web start- up at a rapid rate by mitigating threats of risk. A detailed financial analysis and SWOT analysis is given in the report to for better understanding. The company has used innovative approach of using online activities to target those customers who have prior experience but no so technologically sound.

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