Market Innovations in

Services and Business Presentation By: Group 1

Article Summary and The Aastha Tulsyan (190201002)

Akshay Sharma (190201011)
Apple Story Ritvik Jaiminy (190201081)
Sakshi Shah (190201089)
Samyak Jain (190201092)
Shubham Gupta (190201102)
Utsav Sharma (190201120)
 Innovation Isn’t Just About New Products
• Innovation is not only about new products. Only product innovation leads to short term gains, with significant
investment but inadequate ROI.
• To achieve sustainable growth, companies must better integrate product innovation with business model, process, and
service innovations.
• A dualistic mindset is needed: deliver short term results as well as perpetual results in the future.
Innovation Intent
• It answers the question – ‘What will innovation give me that nothing else will?’
• It gives a strategic direction of how the firm will win using innovation
5 indicators of Innovation Intent
• Focus on long term growth and success
• It is a part of the company’s vision and is value defined
• Clear, authentic sponsorship from the C-Suite for innovation
• Balance between the innovation and performance engines
• Senior leaders should be committed to innovation
Lack of innovation intent leads to barriers and risks such as – lack or misalignment of resources, underutilization of
human resources, organizational memory which prevents forward progress, etc.
 The Apple Story
• The game-changing innovations by Apple: The iPod, iTunes, iPhone, and The App Store
Lessons from Apple’s Innovation:
• Along with beautiful products, they created ways to create and capture value. The iPad and iPhone success is
largely due to their innovative iTunes and App Store
• They thought long-term in terms of platform and pipeline business which was difficult for the competitors to
copy.
• It offers an integration of product and service innovations. Their products such as iPhone, iPad, Mac, Apple
Watch are couple with software innovations like, iOS, WatchOS, iCloud, Apple Pay, etc.
But the main problem now is that Apple is not innovative anymore across any category. It is failing to bring
anything new to the table in smartphones, apps or smart devices.
Recommendations
• Emphasis on few products while maintaining a robust product pipeline and continued innovation.
• Manufacturing physical Apple TVs to penetrate the market of smart TVs.
• Leverage Apple Pay and expand into the FinTech sector.
• Acquisition of fast growing start-ups and companies to sustain growth and innovativeness.