Building Future Innovation Capabilities for M&S

AT YOUR CHOICE AN
ORGANIZATION

Executive summary-
Innovation open new ways for the success and rapid growth of many companies. The
current study has highlighted benefits of adopting this element that M&S has gained in term of
gaining competition benefits within industry and increasing potential customer base.
Furthermore, the report defined requirements that firm has made and efforts to innovative in the
future that is essential and beneficial too for its continuous growth in retail sector.

Table of Contents
INTRODUCTION.....................................................................................................................................3
Purpose....................................................................................................................................................3
TASK..........................................................................................................................................................3
Future of industry 2021 and beyond........................................................................................................3
Organizations innovation requirements 2021 and beyond.......................................................................5
Building future innovation capabilities for M&S....................................................................................6
CONCLUSION........................................................................................................................................10
REFERENCES........................................................................................................................................12

INTRODUCTION
Innovation is the key element of excellent growth and success of companies who adopt it
and implement their practices related to it. It is one of those procedure through which a company
take initiative to introduce something new in term of service or product that their target
customers prefer to buy and tend to purchase it from longer time period. Innovation contribute to
increase profitability of brands and bring more advantages to each. The current assignment will
be based on M&S, which falls under the category of leading retailers in the United Kingdom as it
sells several category of items. The study will define important information about retail industry
in which chosen brand had operated with key resources and using each according to business
environment.
Purpose
The aim of this study is to explain future of sector, and companies’ innovation needs in
2021 and beyond. It will justify usage of procedures and other things to build future creative
capabilities of chosen company. The main motive of this report is to define the initiatives of
M&S in the context of innovation. It will highlight the process of building organizational
abilities in regard to innovation that provide benefits currently and further.
TASK
Future of industry 2021 and beyond
Retail is one of the most developing and progressive industries in the United Kingdom. It
may continually take initiatives to enhance its productivity and improve quality of goods, which
is beneficial for its continuous growth in the world of business. The future of industry in 2021
and beyond may affect due to certain factors that discuss below;
Retail sector future innovations-
In term of further creations, retail industry may adopt creative things and approaches to
retain potential customers for longer and gain the attention of new. Robotic services within
sector may the best example of future innovation that put positive impact on business
productivity and operational efficiency. Organizations such as M&S and other may adopt this
concept in effective manner that help to gain in the future competitive advantages (7