Managing & Developing Innovation & Creativity in Retail Industry: A Case Study of TESCO

This presentation discusses the need for innovation in the retail industry with a case study of TESCO. It explores innovative methodologies like augmented reality, interactivity, and virtual fitting rooms. It also provides insights into the construction of a plan for implementation and applying an innovation audit methodology. The presentation recommends strategic management and hiring IT professionals for efficient innovation management in the organization.

Managing &
Developing Innovation
& Creativity

Table Of Contents
 INTRODUCTION
 Need and Problem
 Innovation Methodologies
 Construction of plan for implementation
 Applying an innovation audit methodology
 Recommendation
 CONCLUSION

INTRODUCTION
Innovation refers to the process of producing a new idea
or invention in a product or service or in any filed or
operation that creates value that the customers will pay
for. It is a process of conceptualising brand new products,
processes and ideas to the existing processes. In the retail
industry, the innovation occurs through new
developments and improvements in technology and
business systems.

This Presentation will outline the need for
innovation in the retail industry and the chosen
organization is TESCO which is a UK based
multinational public limited company headquartered
in England and dealing in the products like grocery,
clothing, home and food products. The innovation
methodologies, plan for implementation and
innovation audit methodology will also be
presented.

Need and Problem
TESCO is the ninth-largest retailer in the world in terms of its revenues. But the
retail leader is facing the issues of reduction in the quality of products and services.
The company is also facing failure in introducing the products in other countries
because of its lack of understanding of trend & cultural differences there. The
company needs to expand the business by introducing innovation such as expand the
clothing , baby care, health and beauty.

Innovation Methodologies
In the retail industry, the customers want good shopping
experience and ease in finding the products that they prefer. To
provide the quality service and better experience to the
customers, TESCO can adopt the following innovative
methodologies to mitigate its issues :
 Augmented Reality
 Interactivity
 Just pick up without any checkout
 Virtual fitting rooms
 Online and offline shopping history track

Construction of plan for implementation
For introducing the innovation in the organization to mitigate
the issues of product and service quality, the selected
innovative solution for TESCO is “Virtual Fitting rooms" to be
introduced for enhancing customer experience. The
construction of plan for the same is as under :
 Analyse the situation
 Implementation of Plan
 Monitoring and Supervision
 Feedbacks
 Modifications

Applying an innovation audit methodology
The innovation audit methodology provides a way to analyse the process
by which an organization is able to manage and introduce innovation
methodology. It is associated with managing innovation so as to mitigate
the issues being faced by the company. In context with TESCO, the 5
steps of innovation audit methodology is explained hereunder :
 Innovation Strategy section
 Ideas section
 Implementation section
 People and organization section
 Output section

Recommendation
 Strategic management : TESCO is recommended to strategically
introduce the innovation in the organization to mitigate the issues of
quality products and services. It must construct an appropriate
implementation plan covering the objectives of innovation and its
analysis and modification aspects.
 IT professionals : TESCO must hire the IT professionals for
introducing the required innovation methodology in the business.
And for its current planned VR dressing rooms, it must access the IT
team to develop this innovation for an efficient innovation
management in the organization.

CONCLUSION
From this discussion, it has been concluded that innovation in the
organization is imperative to keep the business going with the
changing trends of the market and the demands of customers. The
issues of the organization has been analysed to bring some sort of
innovation to mitigate those issues like introduction of Virtual
Fitting rooms has been done in the above case in TESCO as an
innovation methodology.

REFERENCES
 Park, H.J. and Zhang, Y., 2022. Technology readiness and technology paradox of
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 Forrest, J.Y.L. and Liu, Y., 2022. Manufacturing in Industrial Transformations. In Value in
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 Hu, L., and et. al.,2022. The market for private food safety certifications: Conceptual
framework, review, and future research directions. Applied Economic Perspectives and
Policy.
 Yu, C., and et. al.,2022. Do top management teams’ expectations and support drive
management innovation in small and medium-sized enterprises?. Journal of Business
Research, 142, pp.88-99.

Thank You