Upload
shruti-kasat
View
217
Download
0
Embed Size (px)
Citation preview
8/16/2019 Shruti Kasat - Collaborative Innovation
1/6
COLLABORATIVE INNOVATION
8/16/2019 Shruti Kasat - Collaborative Innovation
2/6
REASONS FOR COLLABORATIVE INNOVATION
SCALE
CULTURE
INNOVATION
CREDIBILITY
CORPORATIONS STARTUPS
Access to fundsand network that canhelp startups to scale
Lack of strategicresources to help
them grow
Conservative styleof management to
ensure stability
Foster creativity byhiring explorers to
spur new ideas
Designed to execute apredictable business
model
Agile nature ensuresrisk taking attitude to
innovate
Have credibility tobargain for deals andhave millions of clients
Faces challenges inbuilding credibility and
are thus require venturecapitalists, investors etc.
8/16/2019 Shruti Kasat - Collaborative Innovation
3/6
EXECUTIVE SUMMARY
SeventhGeneration
Wal-Mart
Lyft
General Motors
Vayable
Airbnb
This report aims at highlighting the importance of collaborative innovation between a corporate company and a startup or a
small medium firm. The unfulfi lled innovation needs of organization are highlighted and an analysis is carried out on the
changes acknowledged that led to creation of new products or services. The key lessons learnt are summarized to conclude
the research. The exploratory research is done in context of synergies built in order to achieve a shared goal.
Region : United States of America
Industries Covered: Retail, Automobile & Hospitality
8/16/2019 Shruti Kasat - Collaborative Innovation
4/6
Firm Name Firm Description Innovation Needed Search MethodCollaboration: Structure an
ResultsWalmart
100,000,000+employees
A leader in sustainability, corporatephilanthropy and employmentopportunity, Wal-Mart Stores, Inc. or“Walmart” serves customers andmembers more than 200 milliontimes per week at more than 8,400retail units under 55 differentbanners in 15 countries.
As part of its broad sustainability goal to sellproducts that sustain people and theenvironment, Walmart was looking to expandtheir number of sustainable offerings.
Founder of SeventhGeneration JefferyHollender was attractedby Walmart's efforts insustainability. Wal-Martimproved the efficiencyof its sprawling truck fleetby 15 percent. Itlaunched experimental,energy-conserving storesthat feature windturbines, solar panels,and xeriscape gardens. It
became the world'slargest buyer of organiccotton.
This enticed Hollenderwho was initially a hugeWal-Mart critique topartner with them.
Structure:Wal-Mart launched a new rconcept - Marketside - opeand staffed independently fWal-Mart. Marketside is a wowned subsidiary. AlthougSeventh Generation was seto Marketside they were dobusiness with Wal-Mart.
Results:Seventh Generation alsopartnered with Walmart on
several key initiatives, incluparticipation in Walmart’sChemical Intensive ProducSustainable Network, whicdeveloped an ingredientscreening program for housand personal care products at Walmart. This has resultachievement of sharedsustainability goals for the
SeventhGeneration
51-200employees
Seventh Generation is committed tobeing the most trusted brand ofhousehold and personal-careproducts for living home. Their
products are safe for both peopleand environment.
Seventh Generation, a niche player inenvironmental friendly household productsneeded to extend its influence in the industry . Italso wanted to extend its leadership in
transparency and consumer education on theenvironmental footprints of its products, whereSeventh Generation required to engage with bigretailers and companies working to develop thescience to support a sustainability index through‘The Sustainability Consortium’.
WALMART AND SEVENTH GENERATION
Sources:i. (2010, July 22). Retrieved from corporate.walmart.com: http://corporate.walmart.com/_news_/news-archive/2010/07/26/seventh-generation-walmart-announce-strategic-partnership-to-offer-environmentally-friendly-sustainable-products-at-more-than-1500-storesii. Dominguez, A. (2010, August 6). GreenBiz. Retrieved from www.greenbiz.com: https://www.greenbiz.com/blog/2010/08/06/why-walmart-doing-business-seventh-generation
8/16/2019 Shruti Kasat - Collaborative Innovation
5/6
Firm Name Firm Description Innovation Needed Search Method Collaboration: Structure and Results L
GeneralMotors
215,000+employees
General motors is a globalautomotive company. Earning
customers for life is thefoundational promise ofGeneral Motors. It has over20,000 dealers in 140countries.
A network of self driven cars is toestablished.
GM hatched the deal to exclusivelyuse the Chevrolet Bolt as its first selfdriving vehicle. The collaborationwith Lyft was done in hopes to shapethe future of the global autoindustry.GM also aims at enlisting Lyft as oneof their primary customers for theupcoming release of the electric Boltsedan.
Lyft was seeking $1billion in funding.
General Motors fundedwith $500 million tobring Lyft's post moneyvaluation to $5.5 billion.
GM President Dan Ammann's vision of seeing thefuture of personal mobility as connected, seamless
and autonomous,” is being rapidly implemented wGM and Lyft working together.
Key elements of the GM and Lyft alliance include:- Autonomous On-Demand Network: The jointdevelopment of a network of on-demand autonomovehicles will leverage GM’s deep knowledge ofautonomous technology and Lyft’s capabilities inproviding a broad choice of ride-sharing services.- Rental Hub: Beginning immediately, GM will beca preferred provider of short-term use vehicles to Lydrivers through rental hubs in various cities in the U- Connectivity: Lyft drivers and customers will haveaccess to GM’s wide portfolio of cars and OnStarservices, leveraging two decades of experience inconnectivity. This will create a richer ride-sharingexperience for both driver and passenger.- Joint Mobility Offerings: GM and Lyft will alsoprovide each other’s customers with personalizedmobility services and experiences through theirrespective channels.
Lyft500 +
employees
Lyft is a digital startup thatmatches drivers withpassengers who request ridesthrough its app for iPhone orAndroid.
Future of transportation needs to bechanged. An autonomous ondemand network was to be created.
GENERAL MOTORS AND LYFT
Sources:i. GM and Lyft to Shape the Future of Mobility . (2016, January 4). Retrieved from http://media.gm.com/media/us/en/gm/home.detail.html/content/Pages/news/us/en/2016/Jan/0104-lyft.html
ii. Griswold, A. (2016, January 4). Why General Motors is making a $500 million bet on Lyft. Retrieved from http://qz.com/585520/why-general-motors-just-made-a-500-million-bet-on-lyft/iii. Lunden, I. (2016, March 14). Lyft and GM partner on Express Drive, a rental service that paves the way for autonomous cars. Retrieved from http://techcrunch.com/2016/03/14/lyft-gm-express-drive/
8/16/2019 Shruti Kasat - Collaborative Innovation
6/6
Firm Name Firm Description Innovation Needed Search Method Collaboration: Structure and Results Lessons Learne
Airbnb
2000+employees
AirBnB is a global peer to peer network
that matches touristswith local residents who are offeringcheap accommodations.In addition, they may offer extra
services, such as preparingbreakfast or acting as an impromptutour guide.
The world is quickly filling up
with myriads of "Airbnb of X".Thus, Airbnb needs to find away to tap into them. Airbnbwanted to launch a‘experiences’ features withintheir application.
Both of these
companies aresharing economywebsites. Thus,Vayable was inAirbnb’s radar for apartnership.
Structure:
While startups are not formallyrelated financially or throughpartnerships to Airbnb, guests andhosts may often interact with them tofoster a better experience. Vayablewill be able to list s ervices on Airbnb’splatform and operate on a revenuesharing mechanism.
Result:Both Airbnb and Vayable were able toexplore the untapped market andincrease consumer base.
Airbnb h
blossomservice pgrowing
For Vayainherentlindependlooking fwilling tprofessiotravelersadvancecould nepassion oengagemThis waswith alre
Vayable1-10
employees
Vayable is an international tourismplatform in which local residents offertours of a specific nature based on theirpersonal expertise or experience
In the business model ofVayable, the window ofopportunity for making atransaction was very smallsince travelers usually go forinstant bookings and hostshave day jobs. Thus, thedemand for tour service didnot kick off. An innovativesolution to this was needed.
AIRBNB AND VAYABLE
Sources:i. Cros, T. T. (n.d.). 50 examples of business collaborations.ii. Owyang, J. (2014, April 21). Collaborative Economy . Retrieved from http://www.web-strategist.com/blog/2014/04/21/airbnb-blooms-an-entire-ecosystem-of-startups/: http://www.web-
strategist.com/blog/2014/04/21/airbnb-blooms-an-entire-ecosystem-of-startups/iii. Vayable Overview . (n.d.). Retrieved from LinkedIn: https://www.linkedin.com/company/vayable