Innovation and Business Development for Domino- myassignmenthelp

Question: Discuss about theInnovation and Business Development for Domino Pizza. Answer: Video Transcript Hello Everyone, the objective of this video is to understand the business model for Dominos Pizza and how disruptive technology like smart connected products impact its business model. The video will have following contents: what is business model and disruptive innovation. What are the threats and opportunities for smart connect products used by Dominos Australia. Then using Osterwalder and Pigneur frame work for business model, video will describe how these smart connect products impact all business elements. However the main focus would be on: Business models component of value proposition and system of processes. Hope this video will be useful to you. What is a business model? A business model is the rationale for how business creates, delivers and captures value in different contexts. The next part of video will focus on disruption and its example What is disruption? Disruption is problem or disturbance that disturbs process, activity or event. For example virtual reality store by eBay, where shoppers can download the app on their mobile phones, attach it with pair of shopticles and then start shopping in 3D. In this disruptive environment, established business models are less durable. For example online courses impact business schools. Coming over to Dominos Pizza, which is one of the biggest pizza chains. The products which were earlier composed of mechanical and electrical parts now have sensors, data storage, software, microprocessor and connectivity. This is called smart connected product. Dominos has also introduced zero clicks ordering system where customer will open the app, log in and within 10 seconds their favourite order is placed. Dominos also offers DRU Assist which is an artificially intelligent virtual assistant for the customers to interact while placing the order. It has used voice recognition technologies and machine learning. The advantage of smart build connected products includes that it helps in customizing users experience. It helps in optimizing operations of the company by enhancing product performance, predicts repair and service, autonomous product operation. The disadvantages of smart connected products are: Dominos would mainly target the young generation who are comfortable with using technology. So it may not provide value proposition to all the customers. It needs additional processes like network security, information encryption and sensor security. The channel partners need to come at the same pace. These products are easily imitable. So these smart connected devices which are outpacing technology may provide competitive advantage for short period of time. But they may not provide sustainable competitive advantage to the companies.