Entrepreneurship and Innovation | Report

0
Entrepreneurship and
Innovation

1
Contents
Introduction.................................................................................................................... 2
Achievement of organization.............................................................................................. 2
Problem........................................................................................................................ 3
Design of intervention....................................................................................................... 4
Recommendation............................................................................................................. 5
Conclusion..................................................................................................................... 6
Reference................................................................................................................... 7
Introduction

2
In the competitive environment, innovation and entrepreneurship are considered as essential for
growth. Woolworths is a chain of supermarkets and grocery stores which is owned by the group
of Woolworths. It was founded in September 1924 and its headquarter is in New South Wales,
Australia. The company includes more than 115,000 employees. The variety of products is sold
by Woolworths to customers at cheap prices. This report includes the achievements of the
organization for the growing economy. The problems will be analyzed which are faced by the
organization. The set of activities will be designed for solving the problems which are analyzed.
The various recommendations will be provided for the new insight into the new entrepreneurship
and innovation.
Achievement of organization
The achievements of the organization which has helped the innovation part of the growing
economy as innovation in an organization help in contributing to economic growth. Woolworths
has achieved success by implementing the process of supply chain management. In operation of
the retail industry for selling specialized products like groceries, magazines, household products,
etc. With the help of the effective implementation of a management system, the organization has
increased the ability for maintaining the competitive edge as well as viability. The various
management tools help the organization in improving organizational performance. In order to
satisfy the customers, the organization is required to adopt advanced technologies to enhance
business growth. The innovation in Woolworth's food helps in achieving the awards and created
the benchmark for measuring the highest level of service delivery (Davenport and Ronanki,
2018). Innovation helps in assessing the service delivery of products and gaining competitive
advantages. In the growing economy, the retailing and technological competitor creates in
measuring the bottom line. It includes the resources for assessing the services for delivering the
services.
Their vision is to innovate the customer's choice and to maintain the leadership position for
producing, innovation and quality also ensures the competitively priced products to be delivered
to customers. Woolworths includes the innovative business model for delivering the order placed
by the customers. It helps in growing the economy as they had considered the network with mini
entrepreneurs for delivering the goods which are managed by the company as Niche logistics.