Analyzing a transformational new business
Think of a transformational new business such as Starbucks, Netflix, Blue Apron, or Amazon (please note that these are only examples–you may choose one of these or another business that you see as transformational). Please use a different business from those used for other discussion questions and cases. Answer the following questions for the business you select:
How is the business different from what came before? What was similar to what came before?
Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last?
Evaluate the level of competition in that particular industry today (this should be related to the 2nd part of the previous question).
As competition increases, these transformational businesses must continue to adapt. What specific recommendation do you have for your selected company to keep it competitive?
Sample Solution
I chose Airbnb as a transformational new business as it revolutionized the way we travel today. Before Airbnb came around, people had very few options when looking for accommodation while on vacation; they were limited to booking hotels or motels which could be expensive and didn’t always provide the best experiences either. With Airbnb however, now travelers are able to rent out private homes from locals all over the world at more affordable prices and get an authentic taste of what each destination has to offer (Wright 2019).
Airbnb is different from what came before in several ways. For one thing it gives people access to a much wider variety of accommodation styles than was available prior with everything from beachfront villas, urban apartments, luxury cabins, and even treehouses! Travelers also have more control over their experience since they can book accommodations that meet their specific needs such as pet-friendly rentals or those that offer amenities like wifi or air conditioning. Finally this service is also far less expensive than traditional hotel rooms making it possible for more people to take vacations regardless of budget (Wright 2019).
Despite being so revolutionary in many aspects there are still similarities between Airbnb and more traditional methods of accommodation booking. For instance, both services allow customers to browse through listings online with options sorted by price range and amenities offered; both also require payment upfront; Lastly travelers still need valid identification documents in order check-in regardless if they are staying with Airbnb or at a hotel (Wright 2019).
Overall, while there may be some overlap between old and new businesses when it comes down how projects like these operate the differences between them can often lead game changing results that make our lives easier simpler in ways we never thought possible.
