Innovation and Entrepreneurship
Spring 2021- 2022
Read any two of the below start up stories and write your reflections using the guided reflection framework shared. You can also choose to write your reflections on your expo experience (University or personal trip) using the guide provided to you on the BB.
You will write two reflections and submit on the assignment created for you on the Black board in their respective folders.
Careem: The Middle East’s first unicorn (sme10x.com)
Airbnb Success Story | Founders | Logo | Business Model (startuptalky.com)
Marketing Strategy – Five Lessons From the Netflix Startup Story (marketingprofs.com)
Expo 2020 Trip (Reflection Guide on the Black board)
Reflection Guide (Stories 1-3 above)
Summarize the story sharing the approach towards the company’s business growth.
Airbnb, also known as Airbed and Breakfast, is an online marketplace that connects visitors in need of lodging with people (hosts) who are ready to rent out their home or space in a specific location.
Airbnb’s origin story or startup history is fascinating. The history of Airbnb began in 2007 in San Francisco, when Brian Chesky and Joe Gebbia were roommates. They were concerned about their upcoming rent because they didn’t have any money. While considering how to pay the rent, Brian Chesky and Joe Gebbia quickly arranged three airbeds for three guests, marking the beginning of the hospitality company.
Starting in a room with just two hosts in San Francisco, Airbnb now has over 4 million hosts and 5.6 million listings and over 100,000 cities worldwide. Airbnb is having grown from nothing to a $30 billion company in just 11 years.
Airbnb makes money by charging a two-way commission to both the host and the guest. They take 3 percent from the hosts and about 14 percent from the visitors for each transaction.
The hosts total earnings until October 2020 were estimated to exceed $110 billion. A hosts annual salary is around $9,600.
When they were able to host three guests for $80 per night, the seed for Airbnb was planted. However, they lacked the capital to develop the concept further. So, for the time being, they decided to remove ‘Breakfast’ from Airbed and Breakfast and begin selling breakfast in time for the 2007 presidential election campaign.
In your opinion what are the key lessons the company learnt in the process of start up?
What do you think about the key lessons the company learnt in scaling up the business?
How will you apply your learning from this company’s experience in building your company?
EXPO 2020 Trip Guide
During your trip to Expo 2020, we visited several pavilions, and got insight into the background of the Expo and the objectives of the pavilions you went to. Based on this, please answer the following questions:
1. What is the background of the history of the Expo (aims, objectives, important innovations that were introduced at past Expos)? Explain the importance of Expo 2020 – gave (300 words).
2. In the Alif pavilion, you encountered great innovators, scientists and thinkers from the Muslim world. Describe how the innovations of two of these great thinkers/scientists, etc. have helped to shape human civilization (300 words).
3. Based on your trip to the Expo, reflect on our role as knowledge producers, how we can use our intellect (400 words).
1000- 1500 words
Submission: Turn it in – Black Board
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