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TRIGGERS FOR BUSINESS CHANGE

MOHAMMED ARBAAN MALIK

Concordia University Chicago

Course: MA in Innovation and Entrepreneurship

(Creative Thinking and Practice- MIE-6001-1)

Course Instructor: Dr. Farshad Badie

ASSIGNMENT NO. 1

In the evolution of the business world market expectations are not static, constantly it goes on

changing every day so it is necessary to make changes in the organization, product, and service.

To adapt to the changes according to the market demands we need to constantly trigger the

changes with help of new thoughts and new technologies and to synchronize between the

management and employees. The main areas to express the changes are the demand of the

market, the technology which needs to fulfill the requirements to materialize the product,

service, and organization with contemporary and futuristic elements. The implementation of

changes should not give the vibes of an unnatural tendency that the people around them feel

threatened. The change would lead to the path of positivity when the proper education is given

to everyone in a rational manner.

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INNOVATIVE BUSINESS

(ONLINE BUSINESS)

In today’s modern world it has become very essential for a business to be innovative. There are

two ways of doing a business online and offline. After the rise of a pandemic, the need for

catering to the needs of a consumer has become important therefore in such a crucial time it has

become necessary to meet the needs and wants of consumers. Online business helps us to

overcome the difficulties where an offline business fails to serve us. When we talk about change,

creativity, and innovation in the online business there is a number of factors that make it better

from the offline business.

1) Global Access: Even if it’s night or holiday and all the shops are closed the internet never

fails to work as the web is open 24 hours and 7 days a week.

2) Cost-efficient: The cost of marketing is much lesser than the traditional marketing

methods, for example, distribution of pamphlets, advertisement through hoardings,

banners require a huge amount of funds but social media and online marketing will cost

less and faster way to promote and engage the reach.

3) Fast Service and efficiency: The delivery of the product is much faster as the consumer

gets the product at the doorstep even without the need to go and purchase the product

or service. The consumer saves a lot of time and energy.

4) Reduced infrastructure and staff requirements: The infrastructure which requires to

handle the offline business is very less in online business. No need to store products
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everywhere and the people required for managing the business are very low as compared

to the offline method where there are required a lot of employees.

5) Exposure and reach: The people living in one country can get the benefits of the product

or service from a different country. The internet has made it possible to reach an

enormous scale of public easily. On the other hand, the offline business is not that

successful when it comes to providing products or services to people elsewhere. For

instance, a person from India can study at a university in the United States without going

to that country.

6) Time saving: The Internet has made it possible to establish a business at ease where if

you think of doing business offline there are lots of formalities that one has to go through

and even the requirement of capital is huge.

CONCLUSION

The Factors listed above clearly Provide enough evidence that why the online business is much

better than the offline business. Various aspects like global exposure, time efficiency, requires

low cost, convenience for buyer and seller, and providing fast service make it better than an

offline business, and external factors like weather, connectivity will not affect the sales. The

consumer can enjoy the benefit of the product or service at its fingertips.
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NOT AS INNOVATIVE BUSINESS

(GASOLINE-AUTOMOBILE BUSINESS)

Automobiles are mostly powered by internal combustion engines with the help of petrol, gas,

and diesel injected into the engine to power the piston and turn the crankshaft to move the

vehicle forward which emits carbon dioxide. This causes pollution in the environment which

causes global warming and it’s harmful to every existence on this planet and the fuel is used is

also on the verge of depletion. But still, the companies continue manufacturing conventional

vehicles till date knowing that there is no future of this gasoline automobile industry. For this

reason, some of the companies have started and developed an alternative that is electric

vehicles.

1) Irrational investment: We should abstain from investing in the gasoline automobile

industry so that we can retain our money to invest in the alternative way of developing

electric and future vehicles.

2) Equilibrium instability: There has been a lot of depletion in reserves of gas and one of the

major crises is that we will run out of it soon. Due to the scarcity of fossil fuel, gas prices

are rising high which has affected the daily lives of the people as prices of other products

have also increased and inflation getting out of control. If the vehicles are run by a

renewable source of energy there could be stability in the economy.

3) Unreasonable: Considering the cost of purchase, maintenance, and fuel charges the

gasoline vehicle is expensive in the long run but over the lifetime of a vehicle, the electric

vehicle is much more cost-effective.

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4) Environmental damage: Gasoline vehicles emit carbon dioxide which deteriorates the

environment but electric vehicles don’t run on fossil fuel, so there is absolutely no

pollution and is environment friendly.

5) Change for the better: Due to the large scale of manufacturing conventional vehicles till

date electric vehicles are not getting enough place for mass production. When the

industry will reduce the manufacturing the conventional vehicles and start producing

electric vehicles on a large scale the cost of electric vehicles will be much lesser and it will

be reachable to everybody.

CONCLUSION

The automotive industry as a whole has to think of reducing investment in gasoline vehicles and

rather manufacturing electric vehicles that reach all the people internationally. Companies

should spend on technology to make electric cars compatible in areas of price, safety, and quality.

There should be innovation in such a way that will leave conventional cars behind in terms of

usage. The change has to be faster and strategies should be made to strive on increasing the

technology to make electric vehicles because the average age of a vehicle on the road today is

almost 12 years old in the United States," says Abuelsamid, the Navigant analyst. "Even if ... 100

percent of vehicles sold were electric starting today, it would still take 20 to 25 years to replace

the entire vehicle fleet with electric vehicles." More money should be spent on Research and

Development. Marketing and promotion are necessary factors to popularize electric vehicles and

technology that will help harness the renewable source of energy to avoid the problems that the

future pertains.
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REFERENCE

Title: Benefits of doing business online. BUSINESS QUEENSLAND (June 13, 2016)

https://www.business.qld.gov.au/starting-business/internet-start-ups/online-basics/benefits

Title: As More Electric Cars Arrive, What's The Future For Gas-Powered Engines? NPR NATIONAL

PUBLIC RADIO (Feb 16, 2019)

https://www.npr.org/2019/02/16/694303169/as-more-electric-cars-arrive-whats-the-future-

for-gas-powered-engines

Electric Car Vs. Gas Car Pros And Cons (May 7, 2021)

https://www.wheelsforwishes.org/news/electric-car-vs-gas-car-pros-and-cons/