Assignment on Facilitating Business Innovation

Running head: FACILITATING BUSINESS INNOVATION
Facilitating business innovation
Name of the student
Name of the university
Author note

FACILITATING BUSINESS INNOVATION2
Table of Contents
1. Introduction:...........................................................................................................................3
2. Brief introduction of Goodman fielder Ltd:...........................................................................3
3. Business issues, faced by the firm:........................................................................................4
4. Solution to the problem:.........................................................................................................5
4.1 Provide a detailed description of an innovative idea:......................................................5
4.2 Innovation related to the business:...................................................................................6
5. Discuss how business knowledge is applied to implement the innovative activities for all of
the different areas in the firm:....................................................................................................7
6. Change management:.............................................................................................................8
6.1 Strategic level change required to achieve the innovation:..............................................8
6.2 Type of change that is required in the firm:.....................................................................9
7. Creating culture of innovation:..............................................................................................9
7.1 Strategies to create culture of innovation within the organisation:..................................9
7.2 Motivational skill required during innovation and organisational change:...................11
6. Conclusion:..........................................................................................................................11
References:...............................................................................................................................12
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1. Introduction:
In the intense competitive business environment, innovation is the key factor of
creating a unique position in the market, which paves the way for the firms to attain
competitive advantage. Alexander & Joe (2019) said that innovation is the mode of creating
much more efficient process and ideas, which plays a major role in strengthening the internal
functionality of a firm. By attaining innovation, the firms can change their business model,
which is the key of delivering the customers with better products or services. Thus, it is
important for the firms to consider innovation as an important part of their business, which
can make it easy for the firms to create something new, which can easily drag the attention of
customers.
In addition, Dodgson (2017) also showed that innovation plays a major role in solving
any kind of critical business related issues, which can serve the firms with the ability to run
the internal problem smoothly without any kind of hindrance. The aim of this paper is to
evaluate the innovation to a certain business related issue in the context of Goodman fielder
Ltd. One particular business problem of the organisation will be discussed and innovation for
mitigating the problem will be presented. The mode of change management in order to
accomplish the innovation will also be discussed.
2. Brief introduction of Goodman fielder Ltd:
Goodman Fielder is one of the famous Hong Kong/Singapore-owned Company that
manufactures, markets and distributes various food products like bread, small goods, dairy
products, margarine, and oil along with multiple food ingredients. The main operational area
of the company are Zealand, Australia, New California, Papua Gini and more than 40
manufacturing sites. This is the leading regional food company. In the year 1909, the origin
of Goodman fielder Ltd was extended as Geo Fielder & Co. Earlier, New South Wales was
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FACILITATING BUSINESS INNOVATION4
good wheat producing region, which had helped the firm to experience massive growth. In
the year 1951, Geo Fielder & Co had become the public limited company and its internal
functionality was expanded in order to expand their business in both domestic and national
level (Goodmanfielder.com. 2020).
The leading product offering of Goodman fielder Ltd is supported by efficient
distribution channels, which are helping the company to deliver high quality of products to
millions of customers. The total number of people, employed by Goodman fielder Ltd is 5000
and now the company is offering their service in more than 25000 outlets. With the assistance
of highly quality of products and excellent service, the company has become able to serve
millions of customers. The products offered by the organisation includes baking ingredients,
bread, dairy products, food garnishing products, poultry, cakes and desserts, snacks and oils
(Goodmanfielder.com. 2020).
This is one of the leading listed food manufacturing companies, who are operating
their business in New Zealand and Asia Pacific. The fundamental vision of the firm is to be
the leading and innovative local food manufacturing company. During 2019, the company
has announced to conduct divestment processes of their products in order to acquire potential
base of customers (Rspo.org. 2020). The company is high committed towards attaining
competitive environment even in the extremely competitive business environment. In order to
catch the attention of customers, the company has lowered the price of products. This is also
helping the company to promote growth of their business.
3. Business issues, faced by the firm:
Being one of the leading food manufacturing companies, Goodman fielder Ltd is
facing certain business issue, which is making it easy for them to run business in a profitable
manner. The company continues to encounter the pressure of running their business in a
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