Innovation- Virgin atlantic
Virgin Atlantic challenged the traditional assumptions in the international passenger airlines industry. Can any organization use similar approaches to challenge traditional industry assumptions?
The primary factor that drives the Virgin Atlantic business is the constant drive for innovation. As Richard Branson puts it- “My actions are always motivated in equal measures by my natural drive to turn old ways of doing things upside down and my insatiable curiosity – indeed, that’s how we built Virgin. But increasingly, what I do is driven by another core goal – to make business a force for good.”
Innovations of the type that Virgin Atlantic adopted had a goal for maximizing the customer relationships. Similarly, customer relationships can be enhanced in Indian retail apparel outlets such as Shoppers Stop and Pantaloons by taking it a level further by, for example, providing live consultation from a qualified in-house designer at their bigger stores. While a premium could be charged for such services, the idea would be to simultaneously receive feedback from the customers to make further innovations in their product and services. This would be akin to the present concept of crowd sourcing, where the customers are actively involved in product and service innovation and development. The traditional idea dictates that the products in the apparel industry are influenced by the fashion styles of the season. An approach such as this would provide an overall experience to the consumers. Even the hospitality sector, which, generally relies on the experience to the end customer, can use similar approaches to deliver value. The chief idea behind this is the focus on open innovation and increasing network capabilities to create value innovation via strong customer involvement & relationship management. Providing an end to end service will lead to stronger brand management, in this 5th generation of innovation process model.
The primary factor that drives the Virgin Atlantic business is the constant drive for innovation. As Richard Branson puts it- “My actions are always motivated in equal measures by my natural drive to turn old ways of doing things upside down and my insatiable curiosity – indeed, that’s how we built Virgin. But increasingly, what I do is driven by another core goal – to make business a force for good.”
Innovations of the type that Virgin Atlantic adopted had a goal for maximizing the customer relationships. Similarly, customer relationships can be enhanced in Indian retail apparel outlets such as Shoppers Stop and Pantaloons by taking it a level further by, for example, providing live consultation from a qualified in-house designer at their bigger stores. While a premium could be charged for such services, the idea would be to simultaneously receive feedback from the customers to make further innovations in their product and services. This would be akin to the present concept of crowd sourcing, where the customers are actively involved in product and service innovation and development. The traditional idea dictates that the products in the apparel industry are influenced by the fashion styles of the season. An approach such as this would provide an overall experience to the consumers. Even the hospitality sector, which, generally relies on the experience to the end customer, can use similar approaches to deliver value. The chief idea behind this is the focus on open innovation and increasing network capabilities to create value innovation via strong customer involvement & relationship management. Providing an end to end service will lead to stronger brand management, in this 5th generation of innovation process model.