Oliver Bridge Case Study

Task P1

Entrepreneurs Name

Oliver Bridge ____________________________________________

Type of innovation (Product, market or business model):

_______New business model______________________________________

1. Explain what the innovation is and why you admire it?

Cornerstone is a brand of razors and shaving products which was introduced by Oliver Bridge. This new innovation is a business that sells numerous shaving products and razors over the internet saving people time and money. Oliver’s innovation has changed the idea of buying razors all together, the idea is that rather than people having to go out to buy there razors and wait in long queues and give up their time they can order them cheaper over the internet. This is a new innovation because there had been nothing like it before. It is the idea that people no longer have to go out to buy to their razors and shaving products they can have them delivered to their home at a lower cost. I admire Oliver’s innovation as he has simplified the process of acquiring razors so no one has to have an empty bathroom cupboard. There is no business like Cornerstone in the UK which makes it

Explain how you decided it was an innovation of product, market or business model?

I decided that this innovation was new business model as the product had already existed it was just a new way of getting the everyday needed products (razors and shaving products) to their customers with a no hassle process. However Oliver made the product much more cost and time effective for its consumers. I have noticed that outsourcing is one main factor which makes Oliver’s products a business model rather than the other two. Outsourcing is obtaining goods and services by contract from an outside supplier showing that the product that is being sold is not his own.

4. Has the innovation met a new need not previously identified or has it provided a different method of meeting your customers’ needs that have already been