Product Innovation With Innovation Network -Myassignmenthelp.Com

Question: Discuss About The Product Innovation With Innovation Network? Answer: Introduction The business world today is mainly characterized by drive to improve sales and company profitability in order to remain in business even in the face of increasingly challenging business environment. According to the principle number 6 Revenues: From transaction to subscription, companies should focus on ways that make customers come back occasionally to buy from the company as opposed to when they only come once and disappear for long period of time before returning to make another purchase from the company. This paper will use Lawn PLC, an hypothetical company that offers lawn services within Tel-aviv city in Israel. The company specializes in home market as well as the corporate market where the company beautifies the garden and mown grass to short and desirable level that makes the company to look more clean and beautiful. The company also designs the gardens using pruning the fence line into specific shapes and designs that appeal to the outside world1. The company has one goal of improving its sales and revenue. This paper will attempt to use principle number 6 Revenues: From transaction to subscription to come up with ways through which the company can improve its sales. Therefore, this paper seeks to improve sales aspect of the Lawn PLC1. John Warrillow, 'The Network Imperative' (2013) 1. Lawn services are depends much on the taste of the client and the technique of the service provider. In this case for a customer to become loyal to a certain lawn service provider then this particular provider must have techniques and skills that shape the clients compound in a way that the owner likes it. Lawn PLC should therefore put plans in place to tie down all her clients in to a long term management as opposed to what the company is currently practicing. At the moment the company depends on walk in customers. This business strategy is not sustainable in that the company can not afford to continue relying on it3. Therefore Lawn PLC should ensure that all her customers subscribe to their services for a certain period of time such as one year. This means that the company will be sure about getting business as the contracts tie down the clients for repeat business. In order for this strategy to be more successful, Lawn PLC should ensure that her services are top notch so that clie nts will not have difficulty in subscribing to it for a long period of time. The benefits of this arrangement are that the company will be assured of business for the foreseeable period of time and that the company will get an opportunity to gain valuable long term experience in lawn service. Expected challenge is that customers might be a bit hesitant to commit for long term business if they dont have experience working with Lawn PLC to be able to know whether the company can provide them good services or not2. In summary, subscription mode of doing business is better than transaction mode because there is a lot of repeat business in subscription mode compared to the latter. Repeat business leads to more revenues for the company which translates into bigger profit for the company. 2John Warrillow, 'The Network Imperative' (2013) 1. 3Kalle Lyytinen, Youngjin Yoo and Richard J. Boland Jr., 'Digital Product Innovation Within Four Classes Of Innovation Networks' (2015) 26 Information Systems Journal. References Lyytinen K, Y YooR Boland Jr., 'Digital Product Innovation Within Four Classes Of Innovation Networks' (2015) 26 Information management Journal Warrillow J, 'The Network Imperative' (accounting) 1