Innovation And Sustainable business Development Assessment 2022

INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
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[INNOVASION AND SUSTAINABLE BUSINESS DEVELOPMENT]
[Institute]

INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
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EXECUTIVE SUMMARY
Woolworths is one of the most popular retail companies in Australia. The retail sector of
the nation is facing huge competition and due to this, Woolworths is working for identifying
some innovative and technologically advanced features which can retain and enhance its
customers. In context to this, the present study has been conducted which suggested the idea of
implementing Omni-channel. The feature is new to the retail industry and will enhance the
shopping experience of the consumers. Different methods and aspects such as business model,
value proposition, etc have been discussed properly for understanding the relation between new
idea and company. Apart from this, some uncertainties such as customer desirability, technical
feasibility, etc have been explained which company needs to handle while implementing the
idea. A phased development plan explained which has provided different steps for implementing
project and addressing the uncertainties. The company will target adults for informing them
about the new services and encouraging them to use it. Different innovation tools such as
business canvas model, disciplined entrepreneurship, market segmentation, etc have been
explained which Woolworths can use and implement its innovative idea.

INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
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Table of contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................5
ASSESSMENT................................................................................................................................6
Business Proposal........................................................................................................................6
Business Model Description:...................................................................................................6
Value Proposition Development:.............................................................................................8
Business Operations Development:.........................................................................................8
Supply Chain Development:....................................................................................................8
Financial Value Capture..........................................................................................................8
Competitive Advantages..........................................................................................................8
Strategic Fit:.............................................................................................................................9
Identification and assessment of assumptions and uncertainties.................................................9
Customer Desirability:.............................................................................................................9
Technical Feasibility................................................................................................................9
Financial Viability...................................................................................................................9
Phased development plan to address uncertainties....................................................................10
Selection of innovation tools and techniques............................................................................10
Candid and critical self-analysis................................................................................................13
CONCLUSION AND RECOMMENDATIONS..........................................................................13
Recommendations:....................................................................................................................13
REFERENCES..............................................................................................................................14
APPENDIX....................................................................................................................................15