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TITLE - BUSD1013 – INTRODUCTION TO MANAGEMENT

Slide 1

 Innovation in business management ensures that better business plan is being dei9sgned

in order to boost the profitability and productivity rate.

 Steam engine and textile machinery are industrial revolution.

 The current innovation that has been used globally in every business sector is u8sage of

AI facilities (Forrester.com, 2022).

S.N: The focus in the above slide has been based on innovation and management so that better

business practices can be developed. These factors are also very beneficial in enhancing the

overall capability of business management. Lastly, it can also be added that these factors can be

very helpful in attaining the targeted goals in a much more efficient way.

Slide 2

 Computers and space explorations are also introduced in mid to late 20th century.

 In late 20th to 21st century internet and biotechnology get involved.

 In recent years AI and renewable energy are considered most advanced innovation ever

discovered by human.

 Block chain and AI computing system has helped in expanding the current trends that are

being dynamically used (Techtarget.com, 2020).

S.N: These factors also ensure that a better business span is also developed based on the current

innovation. The innovation and the trends of the business are developed so that the business can

easily attain its targeted goals in a much more efficient way.

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Current Trends

Slide 3

 Rapid advancements of machine learning and AI are become applicable in multiple

industries.

 Cryptocurrency and blockchain is another trend of innovation that grow interest of many

companies.

 Ongoing development and research in quantum computing can help to solve problems.

 Innovation in renewable energies like wind and solar power are modern trend of green

technology.

S.N: Business innovation can be of different types but the companies should ensure that a better

business plan and other essential elements of the business are also developed and designed.

However, there are deferment breakthroughs in the business as well through which the current

process for the business can also get ruined.

Slide 4

 Virtual reality, and Augmented reality are become popular in gaming, healthcare and

remote connection.

 Implementation and expansion of 5G networks build reliable ad faster communication in

this digital era.

 Logistics and E-commerce platform are enhanced in terms of sustainable logistics

practices.

S.N: The focus here has been laid upon the company which has used different innovative ideas

in its business management system so that the targeted goals can be attained in a much more

efficient way.
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About the Company

Slide 5

● Amazon was founded by Jeff Bezos in 1994 and they started the business with an online

bookstore (Althafairi et al. 2019).

● Amazon rapidly expanded their business beyond books which helped them become a

more comprehensive online marketplace.

● Amazon has become the most innovative technology in the world by introducing AWS

and cloud computing.

● The global presence of Amazon has a vast network in terms of fulfilling their

commitment in every aspect.

S.N: Many ideas can be attained so that the company is easily capable of building a better

opportunity to boost its productivity rate. The innovation and the procedure of innovation ensure

that a better business span is also designed.

Slide 6

 The concept of “One click shopping” introduced by Amazon that allows consumers to

make purchase in a single click.

 In 2006, the Amazon AWS provide the comprehensive suite of cloud computing services

that include machine learning.

 The relational Database Service of Amazon support multiple database engines like

MySQL, SQL server and PostgreSQL.

 Amazon Aurora is another compatible PostgreSQL and MySQL realational database that

is built for cloud.

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S.N: The focus in the above-given slides has been laid upon the different themes and segments

through hitch high-end focus on the better business plan is also designed and developed.

Slide 7

 The AWS marketplace is considered one of biggest online retail store to third-party

software and services.

 AWS however provide ML and AI services that includes Amazon SageMaker to train,

built and deploy all machine learning modules.

 The logistic and supply chain of Amazon get improved with FBA-Fulfilment by Amazon

services.

 The drone delivery system of Amazon includes in Prime Air that provide faster and

efficient deliveries through autonomous drone.

S.N: The focus here has been laid upon innovation and its implications in the current system of

business and management. The process of innovation management generally involves the

procedure at the initial stages so that successful implementation of the process can be availed.

Company Application

Slide 8

● The relentless focus of Amazon always stays on customers and uses innovation to

provide effortless services to gain a positive brand appearance.

● The integration of cutting-edge technology such as robotics and AI helps in optimising

warehouse operations and also reduces cost in every aspect (Varriale et al. 2023).

● The innovation ventures of Amazon like voice-activated services and AWS diversify the

revenue stream which is beyond e-commerce.

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S.N: The process of innovation also ensures that a discipline is being maintained to build a better

culture in the particular organization or firm. These activities generally include better business

practices so that unique and effective business strategies can be designed as well.

Slide 9

 The application of innovation by Amazon sets a competitive advantage and it is deeply

rooted in the customer-centric ethos.

 Through Prime benefits and personalised recommendations, Amazon enhances customer

experiences and fosters loyalty in every aspect.

 The diversification is beyond e-commerce into those areas where AWS ensures strategic

growth and sustains a diversified portfolio.

 The ability of Amazon to adapt to industry trends whether sustainability or technology

further solidifies their competitive edge.

 At the forefront of emerging areas such as sustainable practice and voice

recommendations, Amazon not only meets present marketing trends but anticipates the

future industry landscape.

S.N: The plans that are designed ensure that better strategies for future business are being

developed as well. The trends used in the innovation of the company have also ensured that

a better business system is being developed to boost the brand image of the company as well.

Slide 10:

 Innovation at Amazon has ensured to focus on the usage of AI facilities so that better

business services for the company can be designed.

 Amazon has also ensured to focus on the "100% success rate for Project Kipper

Protoflight mission” (Amazon.com, 2023).

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 Amazon has also started to use the innovation of the streaming of 4K videos, “4K video

streaming and two-way video calls over the same network” (Amazon.com, 2023).

S.N: The current trend that has been used by the company has mainly focused on AI facilities

so that better integration can be designed as well. However, the usage of AI has also helped

in boosting the productivity rate of the company as well.

Slide 11:

 The process of innovation in the business also ensures that a better5 business plan is

being designed.

 Amazon has also ensured to focus on the logistics system so that innovative ways can

be implemented in the process.

 The Logistics department of Amazon ensures that the current trends and techniques

are being used for a better progress rate.

S.N: Alongside, it can also be added that AR and VR are also some of the major trends based

on which better business plan and high-end proficiency in the community is also developed

and designed. The AI facilities with the help of the VR process have ensued the showcasing

of the products on the apps of the company.

Learning Takeout

Slide 12:
Student 1:

● Diverse perspectives and collaboration both have helped in group work that values

collaboration as well and the richness of these concepts helps in problem-solving.

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● Research skills and critical analysis are other essential skills that have been improved as

they enable a deep examination of organisational strategies.

Student 2:

● Companies like Amazon embrace innovation and change to sustain competitive

advantage and navigate challenges.

● Aligning management practice with customer satisfaction helps contribute to long-term

resilience and success.

S.N: Participating in this group work helped to understand the power of collaboration and it

also showcased diverse perspectives that enrich problem-solving. However, research on

management concepts in the context of Amazon has enhanced critical analysis skills. This

also allowed a deep understanding of organisational dynamics. This management of Amazon

emphasised its vital role in rapid innovation and adaptability. In addition, the customer-

centric focus in management has emerged as a central theme and that also highlights the

enduring importance of exceeding and meeting the expectations of customers. There is a

huge requirement to focus on the ideation that helps boost the incentives for a better business

plan in the business. Lastly, it can also be stated that there are different variables based on

which an active innovation plan is designed as well.

Recommendations

Slide 13

● The relentless pursuit of Amazon in their rapid growth and efficiency may lead to

overemphasis on short-term goals.

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● Enhancement of workforce engagement could help in terms of addressing workforce

concerns as well as enhance employee engagement.

● Strengthening the innovation management process can be implemented like a systematic

framework (Leonidou et al. 2020).

● Prioritising ethical consideration in marketing dominance by fostering fair competition as

well as transparent business practice.

S.N: The Above slide ensures that a better master plan is being designed to enhance the overall

strategies and tie prototypes of the current company. These strategies can help the company to

boost its current business plan as well.

Slide 14

 Even though Amazon has pioneered innovative management techniques, there are some

instances where a critical lens should be used.

 Fostering a more balanced approach that takes long-term sustainability into account could

help address the potential overemphasis on short-term goals.

 Proactive management techniques are necessary to address workforce concerns, including

labour practice issues, and preserve a positive company culture.

 Adopting these suggestions will ensure Amazon's continuous success in a changing

business environment by promoting a more responsible and comprehensive approach that

is in line with best practices in sustainable management.

S.N: There are mammy organizations that have ensured that a progressive business plan is

bang curate so that the market behaviour of the community can be monitored as well.

Slide 15:
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 Different concepts have been adopted by Amazon based on which future innovation of

the company has been planned.

 The company should focus on a "customer-obsessed culture" which Isa the current

innovation to boost the productivity rate of the company.

 “Toolbox concept of innovation" ensures that a better customer chain is being designed in

the company (Amazon.com, 2023).

S.N: Achieving innovation in the current business is essential so that the management system

of the business is successful. However, it is highly recommended that a better business plan

is created so that the culture of innovation is also focused.

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Reference

Althafairi, B., Alhoumaida, N., Saxena, M., &Almsri, Z. (2019). Case study-AMAZON. Journal

of The Community Development in Asia, 2(2).

https://www.ejournal.aibpmjournals.com/index.php/JCDA/article/viewFile/517/521

Amazon.com, (2023). chrome-extension: https://www.aboutamazon.com/news/innovation-at-

amazon/amazon-project-kuiper-protoflight-mission-november-2023-update

Forrester.com, (2022). chrome-extension: https://www.forrester.com/ /learn-from-amazons-

approach-to-innovation/

Leonidou, E., Christofi, M., Vrontis, D., &Thrassou, A. (2020). An integrative framework of

stakeholder engagement for innovation management and entrepreneurship development.

Journal of Business Research, 119, 245-258.

https://eprints.glos.ac.uk/9058/1/9058%20Leonidou,%20Christofi,%20Vrontis%20and

%20Thrassou%20(2018)%20An%20integrative%20Framework%20of%20Stakeholder

%20Engagement%20for%20Innovation%20Management%20and%20Entrepreneurship

%20Development.pdf

Techtarget.com, (2020). chrome-extension:

https://www.techtarget.com/searchcio/definition/innovation-management

Varriale, V., Cammarano, A., Michelino, F., & Caputo, M. (2023). Critical analysis of the impact

of artificial intelligence integration with cutting-edge technologies for production

systems. Journal of Intelligent Manufacturing, 1-33.

https://link.springer.com/content/pdf/10.1007/s10845-023-02244-8.pdf