Question

An organisation’s ability to innovate is critical to its ability to flourish in the long term. Discus, illustrating your argument with examples. These include: Chanel, Tesla, and Manchester City (or another Football club).

Answer 1

Business growth can be said as an activity which depends upon creating unique and unmatched opportunities in the marketplace with rapid innovation. An organization like Tesla has identified the need of renewable energy in the USA and other countries and developed their electric and solar powered vechicles which can be said as a long lasting innovation which will yield substantial growth in upcoming years. Chanel has targeted a unique segment of customers who believes to pay higher amounts of money to make them above in the social status. It has offered the same costly clothing and other fashion products to these high price seekers. In its retail format , it has offered best quality offerings to very specific & high price to the customers .

Manchester city as a football related organization has targeted this globally recognized sport event for making huge earning opportunities. It has successfully acquired many football clubs locally and won several tournaments of global and even regional repute. It has great profit making connection with the sponsorship of globally recognized organizations like Nissan , Pizza Hut and many other brands. As one of the oldest, football organization it has utilized exapnsion of its concentrated business operations along with promotion of football as a sport. In sponsorship, it has a great legacy of past too which has given new direction to even other sports to get and create long term agreements with a particular brand .