Innovation and Enterprise: Analysis of Zero Sugar Chocolates by Asda

Innovation and
Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY ..................................................................................................................................4
Background of company and analysis of current situation.........................................................4
Theories of innovation and its literature review.........................................................................5
Evaluating selected product and identify its strength and weaknesses. .....................................7
Plan of innovation product for organisation and development of implementation plan.............8
Solutions for improvement in weaknesses of selected product..................................................9
CONCLUSION ............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation refers to any change and improvement in a product, a process or any services.
For development of an organisation and enhance profitability company require to innovate
something new (Du and et. al. 2020). Entrepreneur is a person who generate new idea and
transformed that idea into reality. Innovation helps an organisation in achieving competitive
advantage in market. Which increase revenue and long term success for company. Asda is taking
into consideration for this report. Asda is a multinational retail company founded in 1949. Its
headquarter is in Leeds, England, UK. It deals in many products and services such as Grocery,
general merchandise, financial service, Asda mobiles etc. Its founders Peter and Fred Asquith are
decided to innovate in food sector and bring new zero sugar chocolates. Selected company
always try to satisfying changing needs and wants of their customers by innovating new
products. After conducting a proper research by selected firm, it can be analysed that current
market trend and customers are more concerned or focused towards their health. Relevance
company is planning for bring Zero sugar chocolates as an innovative product for effectively
fulfilling requirement of their customers. By offering innovative products to customers company
increase customers loyalty and achieve competitive advantage in market. This report includes a
proper evaluation of innovative product of company by analysing its strength and weakness.
Other then this it involves innovation theory & idea generation to products. In this report a
proposal for innovative product is developed by implementing a proper plan which helps in
improving weaknesses of innovative products. In last this report includes some recommendations
which helps selected organisation in properly innovating new product for market.
MAIN BODY
Background of company and analysis of current situation
Asda Stores Ltd. being one of most widely operating retail chain across UK. It is
headquartered in Leeds, England which was initially founded by Asquith family in 1949. It runs
in various segments of market having approximately 632 operational locations. Asda stores Ltd.
also known as Associated Dairies is considered as one of the biggest supermarket chain which
was also named as second largest operating retailer in UK with market share. It is working in
various market segment, but viewing current situation of increasing infections, viruses like
Covid-19 company has decided to introduce zero sugar chocolates in order to support healthy