(Solution) Managing Innovation in Business Assignment

MANAGING INNOVATION IN
BUSINESS

Executive Summary – For a business organisation, it is required to use innovative ideas and
creative thoughts in order to make desirable modifications easily. These alterations are based on
changes in customer's demands, trends or new technologies. All these activities have a major
impact on those firms that wants to make a long-term value.. This report is based on Pashley,
which is bicycle manufacturing organisation. Firm always manages their activities from past
years on the basis of new technology and changes in customer's demands. Through this, they
easily survive in competitive market from past years. There are large number of evolution is
noticed in bicycle industry over past years. Such changes are happen in organisation because of
technological advancements. Due to which large number of problems are faced by organisation
but effective adoption of such technologies helps in accomplishment of their desired results.

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
The organisation and industry overview................................................................................4
Organisations existing Innovation Performance and Capabilities..........................................5
The Industry in 2018 .............................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
A business organisation is required to implement new and creative ideas in their
operational and functional activities. By this, they can make desirable modifications and
alterations on the basis of customer's requirements as well their needs. In this process, advance
technology and innovative ideas assist to make new and impactful strategy for firm (Archibald
and Archibald, 2016).
This report is based on Pashley, which is a British bicycle and work-bike manufacturing
organisation. This business firm was established in the year of 1926 by William Rath Pashley.
This report represents an organisation’s innovation history with the evaluation practices of
bicycle and its existing performance and capabilities. The PESTEL analysis model assist in
determining impact of external environmental on business organisation as well as porter's five
forces analysis uses for competitive analysis of bicycle industry. Furthermore, SWOT analysis
of firm determines the evaluation of organisation's existing Innovation Performance and
Capabilities. At last, it determine industry in 2018 after using innovation in business activities.
The organisation and industry overview
Evolution of bicycle – Bicycle industry faces rapid evolution. In 1817 Draisine is created as the
design of bicycle that can be used in future. In 1830, a impactful invention is determine as
Tricycle Velocipede. A German civil servant was looking to make some modification in past
invention of Bicycle. They were add some simple joint to make front wheel of bicycle counsel.
In 1870, High wheel Bicycle is invented by a French blacksmith with a new design. In this
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