Google is one of the companies that have grown in size and revenue. The company's business model is unique and their revenue is driven not by marketing but by monopoly as they have the most essential vehicle for a globalized world. The company's products are used worldwide on almost all devices, sectors, large corporations, and individuals. When Larry Page, Google's CEO announced their new holding company called alphabet in the year 2015, the company's invasive initiatives such as self-driving cars enabled by hi-tech algorithms and the health technology were divided into new companies. Google remained the only company under alphabet focusing on internet services and software (Drucker, 2006). Expected success
Google's search engine was not the most popular, but after years of search algorithm tweaking and improvement, the company's search engine become the most popular. The company was started as a small company in 1998 when not many people had an idea about the internet and search engine, earth engine optimization. Larry Page and Sergey Brin had a vision for their research project while they were Ph.D. students at Stanford University. They theorized a better search engine that would rank pages, and analyze the relationship among websites. The "Backrub" search engine was initially theorized to improve on the previously existing search engine.
The main source of innovation is incongruity. There were already search engines such as Yahoo, but the two founders believed that backrub would enhance site relevance based on the page ranks. The two knew that websites should only be categorized in terms of their relevance. The incongruity was developing a search engine with unimaginable page ranking capabilities.
Google became a household name for a wide range of smart technology from wearables to operating systems such as Android and Chrome OS. They redesigned, the Linux OS to come up with Android OS (Pillay, 2014; Zhao, 005). The company's list of retired projects and working, as well as a project under development demonstrates the founders' search for innovative solutions to internet problems, products such as google pixel, google glasses, telecom nation infrastructures, search engines, databases, websites, and, cloud computing infrastructures and advertisement platform. The company's micropayment services, such as google wallet are some of the products and services that drive the internet and are the next frontier in e-business because "Opportunity is the source of innovation" (Drucker, 2006).
Industry and Market Structures
Google's business model can be considered a hybrid business model with both brick and mortar stores and online stores. The company does not have a monopoly in the market, but it has a competitive advantage in the competitive market. The company's dominance of the internet going by the range of services and products developed by the company gives it a competitive edge over its direct and indirect competitors (Burns, 2013). The brick and mortar stores do not add much value to the company but just enhance its presence in the market acres the word. The e-market is increasingly evolving and the company's constant research and development has seen it produce more innovative products because to continue to do business as before is almost a guarantee of disaster and might well condemn a company to extinction (Abouzeedan, Hedner, Sweden, & Klofsten, 2010).
Developing My Innovation
If I were to develop innovative products, I would develop systems or devices that would help all household devices communicate independently. For example, developing an algorithm that would allow the fridge, television, camera, security light, and other devices to communicate whenever I enter the house. The door's biometric lock would communicate with the microwave to warm my food, and the television would go on, and the best channel or music be selected by the television based on its own assessment of my mood. Reliable and accurate answers or suggestions should be provided on my smartphone or smartwatch, or computer without me asking or typing. This way, the next generation of connected devices would make life easier and enhance the quality of life.
Abouzeedan, A., Hedner, T., Sweden, G., & Klofsten, M. (2010). Innovation and entrepreneurship - new themes for new times. Annals Of Innovation & Entrepreneurship, 1(1), 5657. doi: 10.3402/aie.v1i1.5601
Burns, P. (2013). Corporate entrepreneurship. Basingstoke: Palgrave Macmillan.
Drucker, F. (2006). Innovation and entrepreneurship (5th ed.). New York City: Harper Business.
Pillay, R. (2014). Creativity, innovation, and entrepreneurship: a new prescription for healthcare. Innovation And Entrepreneurship In Health, 1. doi: 10.2147/ieh.s59263
Zhao, F. (2005). Entrepreneurship and Innovation in e-Business. The International Journal Of Entrepreneurship And Innovation, 6(1), 53-60. doi: 10.5367/0000000053026428
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