Innovation and Growth in challenging times - A Case Study of TESCO

This case study explores the impact of innovation practices on the culture of TESCO, a successful retail organization. It explains how various forms of innovation practices have contributed to the sustainable functioning of the company. The study highlights the importance of having an appropriate innovation strategy to attain reliable practices for growth.

Innovation and Growth in
challenging times

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explaining the impact of innovation practices on culture of the company.................................1
CONCLUSION ...............................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Innovation is one of the significant aspect which is highly required to be taken into the
procedure so that accomplishing the objectives of complying with changing circumstances, bring
creativity, etc. In the current era, innovation for growth sis highly important in turn reliable
processing so that accomplishing the objective of having relevant functioning to get greater
performance can become possible. The current study is based on TESCO which is one of the
successful organization that operates in retail sector by offering distinct practices. This will pay
attention on creating innovation culture so that depth understanding can be derived.
MAIN BODY
Explaining the impact of innovation practices on culture of the company
Organizational culture is related with having the significant processing in business
environment so that accomplishing the objectives of higher productive can become possible.
There are various situations which require firm to pay attention on having relevant level of
innovation so that attaining reliable level of results to uplift overall functioning. Culture of firm
get affected from various aspects such as change sin external environment factors like changing
trend so technology, having higher demand among customers, etc (Čirjevskis, 2022). It is
important for the company to give focus on having relevant practices of innovation that can lead
firm towards sustainable functioning can be derived.
There are various form of the innovation practices that are taken into culture of TESCO
that ensures that greater level of performance by through building the aspects of trust and respect
among employees (Alam and Raut-Roy, 2019). It uses the practices of training & development
which ensures that higher level of favorable influence on employees for adopting continuous
changing requirements of customers. In order cooperate on international environment it is
important or enterprise to give emphasis on adopting reliable practices that can give reliable
capabilities to meet delegated roles and responsibilities. Data driven personalized approach is
utilized in particular firm that gives higher level of performance in the company that offers
competitive edge to the company. It has given the employees to get the opportunities to
eliminate the lacking areas such as errors and mistakes which are needed to be improved so that
significant level of competitiveness in firm has been developed (Gupta and Gupta, 2019).
Increased turnover of company due to its higher execution of technology in its all practices like
communication, etc so that higher profitability can become possible.
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On the basis of the analysis it can be interpreted that for having the greater level of
customer satisfaction it has taken the initiative of improving in store culture with scanning
devices for manual check out. The main reason behind this is to build higher level of culture
development so that good profitability by reducing the cost and irrelevant aspects. TESCO as
being one of the international organization has given focus on developing such reliable practices
that can help in uplifting the performance of employees by ensuring that grater accuracy &
reliability, accountability, etc is maintained. In addition to this, the company uses automated
pick by line, bar codes provided by suppliers, etc practices that aids in reducing the time-
consuming procedure. This as well contribute in having greater ability to incline efficiency
which can improve accuracy that assist in attracting and retaining customers (Yun and et.al.,
2020). It pays attention on implementing the practices like having higher stable procedure that
can aid in keeping low prices so that trustworthiness via offering innovative products that are
adhering with prevailing trends.
It can be interpreted that TESCO as being one of the global operator focuses on
possessing effective functioning via having equality, diversity, etc by conducting innovating
activities like proper inventory, quality management system, etc. These are exerted by firm
through building appropriate positive working culture in turn good impact on customers can be
offered (Chen and et.al., 2018). For being successful it is important for the firm to give
emphasis on having such appropriate method that can directs and strategically organizes its
employees h to build the innovation so that transforming knowledge in the appropriate manner
can become possible to ensure the development. The strategy which is basically used by
particular enterprise is having trial of specific idea in such a manner so that accomplishing the
ability to overcome the challenges by identifying the prevailing lacking areas in corrective
manner (Ramdan and et.al., 2022). On the basis of the study it can be mentioned that having
appropriate innovation strategy can help in attaining reliable practice for growth.
CONCLUSION
From the above report it can be concluded that having innovation in company is crucial
for building reliable organizational culture for which company focuses on encouraging its
employee to engage in processes by having reliable functioning has been achieved by firm.
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REFERENCES
Books and Journals
Alam, S. and Raut-Roy, U., 2019. Evaluating the Effectiveness of Reward Strategy at Tesco:
Evidence from Selected Stores in UK. Indian Journal of Industrial Relations. 55(1).
Chen, Z. and et.al., 2018. Fit between organizational culture and innovation strategy:
Implications for innovation performance. Sustainability. 10(10). p.3378.
Čirjevskis, A., 2022. A Discourse on Foresight and the Valuation of Explicit and Tacit
Synergies in Strategic Collaborations. Journal of Risk and Financial Management.
15(7). p.305.
Gupta, A.K. and Gupta, N., 2019. Innovation and culture as a dynamic capability for firm
performance: A study from emerging markets. Global Journal of Flexible Systems
Management.20(4). pp.323-336.
Ramdan, M.R. And et.al., 2022. SMEs Performance in Malaysia: The Role of Contextual
Ambidexterity in Innovation Culture and Performance. Sustainability. 14(3). p.1679.
Yun, J.J and et.al., 2020. The culture for open innovation dynamics. Sustainability. 12(12).
p.5076.
Online
Tesco Innovation Strategy. 2022. [Online]. Available through:
<https://business-essay.com/tesco-incorporations-innovation-management/>
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