Identify and Implement Business Innovation

IDENTIFY AND IMPLEMENT
BUSINESS INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Assignment 1...................................................................................................................................4
1....................................................................................................................................................4
2....................................................................................................................................................4
3....................................................................................................................................................4
4....................................................................................................................................................4
6....................................................................................................................................................5
7....................................................................................................................................................5
8....................................................................................................................................................5
9....................................................................................................................................................6
10..................................................................................................................................................6
11..................................................................................................................................................6
12..................................................................................................................................................6
13..................................................................................................................................................6
Assignment 2...................................................................................................................................7
PART A.......................................................................................................................................7
A. .................................................................................................................................................7
B. .................................................................................................................................................7
C...................................................................................................................................................7
D...................................................................................................................................................9
E...................................................................................................................................................9
F.................................................................................................................................................11
G. ...............................................................................................................................................12
H.................................................................................................................................................12
I..................................................................................................................................................14
PART B..........................................................................................................................................14
A.................................................................................................................................................14
B. ...............................................................................................................................................14

C.................................................................................................................................................14
D.................................................................................................................................................14
E.................................................................................................................................................14
PART C..........................................................................................................................................15
Ability to meet the business objective with the help of changes made in business...................15
Part D.............................................................................................................................................16
Role Play....................................................................................................................................16
REFERENCES..............................................................................................................................19

INTRODUCTION
MAIN BODY.
Assignment 1
1
The marketing problems of business and customer face from external source which
include periodical and newspaper, government publication and reports, trade associations and
foreign government and international agencies which shows the informational data of market and
customer demanded. For example: Economics times include financial data, capital market, stock
trading (Jacob, Boyd 2020).
2.
The external source are Competitor website, annual report, social media tools and of
competitor that are using as a strategy. Example: How social media marketing are uses by the
competitor to reach new market, Competitor website shows tremendous insight and data base
shows the reliable data of stakeholders.
3.
The internal business process, system and efficiency can be known through Marketing
sales team, customer support team and general management. Where Marketing team denote the
efficiency of company to promote product, customer support shows the feedback and general
management shows the overall company performance in market.
4.
Internal sources of information about business markets can be known through customer
trend shows the demand for the product in market and competitor business method can know
through marketing methods used by them. Demand can be known through size of market and
marketing methods can be seen on website or social media.
5.
A. It helps the company to go with Cost effective and increase the profit margin for long
term goal.
B. It helps to build the relationship with customer and make reliable and loyal customer
for longer term.