Answer to Question #134243 in Management for Geneveve Cloete

Question

with reference to the extract, discuss two methods of generating business ideas that resulted in Airbnb

Answer 1

The two main methods of generating business ideas that resulted in Airbnb include seizing the scarcity and going online by adding a tech expert in their team. Airbnb used the concept of seizing the scarcity which they saw was likely to increase in the near future because of the current situations. The founders used this method of generating business ideas and made use of it to start the business. The founders used the scarcity of accommodation that many attendees of a major design conference were to face. The other method of generating business ideas was going online by employing a technology expert to help in promoting and opening their platform online where people can list their accommodation needs and requirements. Other methods the company used were brainstorming, reinventing their products and services, and taking care of issues in a new way.