Zillow is innovating the real estate industry. What does the word 'innovation' mean to you?
The term 'innovation' is often overused in business and development these days and has now become a buzzword that many people don't fully understand.
There are two other terms that are closely related, which can clue you into its meaning. The first word is improvements, which can be delivered either big or small. Big improvements are typically considered innovations. Whereas Kaizen is the small incremental improvements that result from continual efforts towards greater improvements. Your interviewer wants to know how you personally define innovation. Include an example of a time when you have witnessed or implemented an innovative change in the workplace, or when you have exercised creativity. Be sure to express an understanding of the way Zillow is innovating the real estate industry.
"To me, innovation means presenting a new idea or making an existing idea better. It's essential to be innovative in the workplace, but often it's a misunderstood concept. An example of when I was innovative was when our company was facing budget cuts. I suggested that we begin to operate as though the cuts were already made, in an attempt to preemptively save funds. The concept worked well, and we were able to eliminate many unnecessary expenditures. I understand that Zillow is highly innovative because you are entirely disrupting the way that people approach real estate transactions. I am eager to join your team of talented developers."
"Innovation means introducing a new process, orcreating a breakthrough. A time when I have been innovative was when I built a new tracking system in our company's CRM. I wanted to create a more accurate way to track projects with a simple option for our sales team to update the project stage. The owner of the company loved my creation, and now it's implemented company-wide."
Community answers are written by other candidates practicing this set. Reading how others frame the same question is one of the fastest ways to sharpen your own.
Anonymous Answer
Innovation can refer to something new, such as an invention, or the practice of developing and introducing new things. Zillow is innovating the industry in so many ways by offering a one-stop shop in the housing market. It is and will be the go-to in this industry, I am hoping to get the opportunity to evolve and grow with Zillow.
Stephanie's Feedback
Great response; since the question asked what innovation means to you, I would suggest personalizing your response just a bit so it's clear that you're passionate about contributing to innovation and you're excited by the prospect of growing/building/developing new things.
Anonymous Answer
True innovation thinks big and moves fast. I spot innovation before others by looking for a much better solution today and focusing on what it is and being willing to look a little forward to assess the value of profitability at scale tomorrow, i.e., single-family rental as an asset class. An innovation I am still looking for is a non-cyclical funding structure for investor-friendly SFR loans.
Cindy's Feedback
Great! You could enhance your answer by being a bit more concrete. Why is thinking big and moving fast key to innovation? Are you driving at the idea that there's competition among those who are innovating?
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