logo

Process Innovation - Assignment

   

Added on  2021-02-20

14 Pages4253 Words64 Views
Leadership ManagementDesign and CreativityTest PrepDisease and DisordersNutrition and WellnessHealthcare and ResearchLanguages and CulturePolitical Science
 | 
 | 
 | 
INNOVATION REPORT
Process Innovation - Assignment_1

EXECUTIVE SUMMARY The report had highlighted about the innovation process through company can improvetheir products and expand their business operations. Further, the project had framed about theinternal factors that will help the company to manage the innovation process which is inclusiveof organisational structure namely hierarchical structure which is adopted by the companythrough they had improved their production, distribution and marketing system of the companyand through this structure they will be able to provide higher quality products and along with ithad highlighted about the culture of the company like integrity, patient focus, transparency etc.,and with that it had commented on the internal factors which are employees by providing themvarious benefits like pension contributions, retirement benefits, health and well being etc.Eventually, the report had highlighted about the external factors that had impacted the innovativeprocess of the company which are inclusive of political, social, economical, technological, andenvironmental factor and along with it had highlighted about the recommendations throughwhich company can improve their innovative process.
Process Innovation - Assignment_2

Table of ContentsEXECUTIVE SUMMARY ............................................................................................................2INTRODUCTION...........................................................................................................................4CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
Process Innovation - Assignment_3

INTRODUCTIONInnovation means the creation of a new product and a higher quality product technique ofproduction, market supply, and an organisation in an industry. Further, it additionally refers toenhancing on a present idea or concept using a step-sensible process to create a commerciallypossible product. However, the innovation process depicts the direction of translating new orcurrent expertise into marketable method (Fedorov,2016).Further, the report highlights that the performance of GSK pharmaceutical company canbe influenced by both external and internal factors wherein, the inner factors are frequentlyrelated to company governance, organizational structure, advertising selections, financial overallhealthiness or product design and thus, these components form a business from inside.Nonetheless, there are different factors that have an effect on the business from the out of doors,that is the case of macroeconomic variables which includes inflation, interest rates and currencycost, or political ones, as is the case for new law affecting whole organisation or exchangeagreements with different nations that impacts their innovative process. Alternatively, the social and cultural surroundings will influence a business enterpriseexternally. However, certain traditions and conduct can affect purchaser’s selections in regard toproduct selection or consumption and additionally, social agitation can also affect the wayorganizations increase through the years. Therefore, with the intention to address those issues,organization frequently increase strategic plans to count on the effects of external factors withinthe enterprise’ overall performance. Innovation ProcessGSK Pharmaceutical Ltd. is one of the leading Pharmaceutical company which deals invarious types of medicines. Further, the company uses diffusion theory of innovation where theydistinguish their product innovation process on the basis of five categories through which theproduct of the company may additionally find itself with five different groups of customers thattake delivery of the product or idea (Palmarini, Erkoyuncu and Roy,2017). Therefore, thesedecide the success of a product. Moreover, through this concept it becomes easy for thecompany how a product or concept develops most of the users. However, depending on the levelof the product, several changes are taken by the company like tons or little advertising or anexcessive or low income fee. Moreover, according to the company provide various types of
Process Innovation - Assignment_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Understanding the Business and Economic Environment of the Pharmaceutical Industry: A Case Study of GlaxoSmithKline (GSK)
|8
|1991
|228

External and Internal Analysis of GlaxoSmithKline (GSK)
|15
|3380
|258

Understanding the Business Environment
|10
|2737
|80

Corporate Strategic Analysis - Assignment
|16
|4647
|93

Marketing Planning Assignment - GSK company
|10
|3607
|101

Strategic Analysis of Joint GSK and PFIZER Report 2022
|24
|5408
|34