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Course Description InNOVATION MANAGEMENT (MANM115)

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Added on  2021-05-31

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• This work has not been previously submitted, in full or in part, for the purpose of assessment at this or any other institution • No effort has been made to subvert plagiarism detection processes of the University • This submission may be transferred to and stored in the process Plagiarism Detection database for the purpose of plagiarism detection now and in the future • I understand that all required work must be received within the published deadline • I understand that work received after the published deadline will be penalised in line with University

Course Description InNOVATION MANAGEMENT (MANM115)

   Added on 2021-05-31

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1 BY SUBMITTING THIS FORM YOU AGREE TO THE STUDENT DECLARATION IN FULL FACULTY OF ARTS AND SOCIAL SCIENCES INDIVIDUAL COURSEWORK COVERSHEET Coursework Details Module Name and Code (please check front of module handbook)INNOVATION MANAGEMENT (MANM115)Coursework Title Assignment1Date of Submission 11/06/18Word Count2755Student Details Student URN (7 digit number on Uni card)6047721Student Name EveCottonProgramme MScEntrepreneurshipStudent Declaration To be agreed by StudentPlease refer to the University of Surrey Regulations for the Conduct of Examinations and Other Forms of Assessments and your departmental Student Programme Handbook for more information on Academic Misconduct and Plagiarism. Declaration: I confirm that the submitted work is my own work and that I have clearly identified and fully acknowledged all material that is entitled to be attributed to others (whether published or unpublished) using the referencing system set out in the programme handbook. I agree that the University may submit my work to means of checking this, such as the plagiarism detection service Turnitin® UK. I confirm that I understand that assessed work that has been shown to have been plagiarised will be penalised. 'In completing this work I have been assisted with its presentation by [state name and contact details of assistant] and, if requested, I agreed to submit the draft material that was completed soley by me prior to its presentational improvement.' (This paragraph is to be deleted where it is not relevant). By completing and submitting this form, I confirm that: •I have read and fully understand the University’s Regulations and guidance on Academic Misconduct and Plagiarism •This submission is my own work and all coursework is the product of my own research and study. •All quotes and sources have been fully and properly attributed and referenced. •This work has not been previously submitted, in full or in part, for the purpose of assessment at this or any other institution •No effort has been made to subvert plagiarism detection processes of the University •This submission may be transferred to and stored in the Turnitin Plagiarism Detection database for the purpose of plagiarism detection now and in the future •I understand that all required work must be received within the published deadline •I understand that work received after the published deadline will be penalised in line with University Regulations •I understand that any request for mitigating circumstances must be made formally via the Student Liaison Officer, using the appropriate form and including evidence; the application and associated evidence must be received by the stipulated date•I have not lent my work to any other student.•I have not colluded with any other student in the production of this work. •The word count I have declared is precise.
Course Description InNOVATION MANAGEMENT (MANM115)_1
2 TABLE OF CONTENT EXECUTIVE SUMMARY 3MAIN BODY 41INTRODUCTION 42EXTERNAL ENVIRONMENT 43ORGANISATION FOR INNOVATION MANAGEMENT 63.1DIAGEO STRUCTURE63.2DIAGEO LEADERSHIP73.3DIAGEO CULTURE73.4KNOWLEDGE MANAGEMENT94STRATEGY FOR INNOVATION MANAGEMENT 94.1INNOVATION PROCESS94.2SEARCH STRATEGIES104.3DIAGEO SUPPLY CHAIN124.4MAPPING DIAGEO INNOVATION SPACE135RECOMMENDATIONS ON INNOVATION PROCESS 155.1EXPLOIT STRATEGIES155.2REFRAMING156CONCLUSIONS 16REFERENCES 17APPENDIX A - DIAGEO STAKEHOLDER COMMUNICATION 19
Course Description InNOVATION MANAGEMENT (MANM115)_2
3 Executive Summary This report analyses Diageo PLC’s organisation and strategy for innovation management based on the company’s internal and external environment. Based on this analysis we elaborate recommendations for improvements. The premium and spirits industry is a highly concentrated and competitive industry in which Diageo competitive advantage is its extensive portfolio of brands and widespread production facilities. These allow Diageo to respond to customer demand with local solutions. In recent years, Diageo PLC has engaged in a global transformation of its organisation and streamlining of its innovation process through a restructuring of business units, a transformation of its supply chain and a cultural shift toward open communication and collaboration amongst teams. In term of innovation strategies, the company actively engage in search strategies for innovation, particularly working with active users and its venturing program. These have mostly resulted largely successful incremental innovations. To improve its innovation process, we recommend the company continues to exploit their searching space for incremental innovations through partnerships but to also explore for radical innovations through open innovation.
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4 Main Body 1 Introduction Diageo is a UK-Based alcoholic beverage and distilled spirits producers born as a result of a merger between Guinness and GrandMet in 1997 (Diageo, 2017). Diageo’s wide product portfolio enables the company to cater to a large customer base and lessens the adverse impact of product demand fluctuations on the company's revenues. (ibid). In recent years, the company has engaged in the global transformation of its organisation and strategy for innovation management in order to increase productivity and increase profits. We will first review the external environment Diageo operates in, then its organisational and strategy for innovation, before finally making recommendations on its innovation process improvement. 2 External Environment Michael Porter in Competitive Strategy outlined five forces ‘that shapes an industry rivalry, defines the rules of competitions and the root of profit within the industry’ (Porter, 2008). This framework (fig.1) is particularly useful to understand the environment an organisation operates in. Figure 1 - Five Forces of Alcoholic beverage industry
Course Description InNOVATION MANAGEMENT (MANM115)_4

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