Innovation and Creativity in Tesco Company

Mgt 2321

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8
Books and Journals:....................................................................................................................8
Online:.........................................................................................................................................8

INTRODUCTION
In present times, organisations grow and succeed in business environment for a myriad of
several causes. Some of them are famous for their goods, others for their services, while others
still for less easily defined factors such as captivating marketing campaigns and strong brand
loyalty. Innovation is a significant source of growth and a major determinant of competitive
benefits for most of the business firms. Attaining innovation needs the coordinated efforts by
employees and the combination of various activities across specialised domains, functions and
contexts of application (Belair-Gagnon and Steinke, 2020). Thence, organisational creation is
imperative to the innovation process. The organisational ability to innovate is a pre-condition for
the booming exploitation of inventive resources, along with new technologies. Conversely, the
launching of new technology perhaps shows complex challenges, together with opportunities for
the business organisations, leading to modifications in the managerial practices and the growth of
new organisational forms. Technological and organisational innovations are twined.
Innovation can be denoted as a concept or defines the process that an individual or a
business firm undertakes to conceptualization brand new products, services, ideas or processes or
even to approach current goods, ideas or processes in a new manner. In the business world, there
are range of innovation forms that an organisation pursues. These are oft-times tied to single
goods, workflows, internal processes or business models. Some of the organisations even grasp
all the three in an exertion to leading growth while conforming to the ever-changing market.
Innovation in company is aimed at boosting the performance of business by limiting the
transaction or administrative costs, enhancing the workplace satisfaction and employees'
efficiency and productivity (Bröring, Laibach and Wustmans, 2020). It also helps in limiting the
supplying costs. Presently, organisations world-wide espouse business solutions powered by AI
with an intent to mitigate the costs while rising productivity. The employees is profoundly
impacted by all this change, and smart companies are taking steps to implement advanced
technologies and to hire and retrain human for qualified roles, redesign jobs and tasks while
using AI as an enabler of innovation in goods, processes, together with business models.
Tesco Company is taken into consideration to prepare complete this assignment. In 1919,
Tesco was discovered by Jack Cohen. The headquarters is in Welwyn Garden City, United
Kingdom. It is a British global retail organisation which has diversified its business in all around
the world. It is operating its business in 11 countries in the universe. This organisation retails in