Xiaomi Case Study
[pic 1]UNIVERSITI BRUNEI DARUSSALAMSCHOOL OF BUSINESS AND ECONOMICSASSIGNMENT: INNOVATION MANAGEMENT REPORTXIAOMISUBMITTED BY:HJH LAILATUL NABILAH HJ SURHAN (17M1335)BM-5304-C: CORPORATE ENTREPRENEURSHIPDR. YAZID A. ABUBAKARDISCLAIMER:This material is based upon student’s work supported by UBD. Any opinions, findings, conclusions, or recommendations are those of the authors and do not reflect the views of UBD, its employees or its administration.TABLE OF CONTENTSEXECUTIVE SUMMARY4INTRODUCTION5CASE STUDY: XIAOMI6INNOVATION MANAGEMENT PROCESS8IMPACT OF INNOVATION AND FUTURE IMPLICATIONS11CONCLUSION13REFERENCES14
EXECUTIVE SUMMARYPurpose of ReportThis report studies and describes the innovation management process of Xiaomi. It looks into the sources of innovation, how the innovation management process is organised, the impact of innovation on the company as well as the future implications of the innovation on the company.Case study: XiaomiXiaomi Inc. is a privately owned software and electronics company founded in 2010, with a headquarter in Beijing, China. It was founded by its current CEO Lei Jun, a prominent Chinese entrepreneur, as well as seven other partners. Starting out with a focus on creating custom operating systems and software, Xiaomi has since expanded into manufacturing hardware. By 2017, it has become the world’s fifth largest smartphone maker.Innovation Management ProcessXiaomi’s breakthrough innovation lies with its business model strategy. By identifying a market opportunity in the economy-minded, lower segment of the Chinese smartphone market, Xiaomi accordingly adopts a low-price yet high-quality technology selling approach. This is achieved through its solely online business operations, and unique marketing and manufacturing strategies that emphasize on customer interaction and involvement.Impact of Innovation and Future Implications