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Managing Innovation Assignment (Doc)

   

Added on  2020-10-05

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MANAGING INNOVATIONASSESSMENT
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Q1. External analysis for the industry.........................................................................................1Q2. Internal analysis for company..............................................................................................5Q3. Marketing grid......................................................................................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
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INTRODUCTIONInnovation management is allows to organization to manage and respond external andinternal opportunities for use its creativity to introduces new ideas, processes or products. It iseffective and valuable for managing the thinks which are related to innovation of product andservices (Aalbers and Dolfsma, 2015). It is the sets of tools that allow manager to cooperate witha common understanding of processes and goals. The present study is based on the “Sainsbury”which is the retails public limited company. It is established the larger supermarket chain at UK.It has the 186900 number of employees with the 28.456 billion annual revenue. Study laysemphasis on the internal and external analysis of the company with the PESTEL and 5 forces ofindustry. It will also show the resources and competence for company. It is also highlighted bymarking grid for company growth. MAIN BODYQ1. External analysis for the industry.Sainsbury's is currently second largest supermarket chain and group at UK. Its customerprofile similar to the tesco but it has the largest opportunities to grow their market and shares atmarketplace with high growth and brand image. At present they are make strategy that help tofocused on offering low price of product every day with little and fewer promotions. Sainbury 'sperformance in food sector has less because of many factors are affect to the company and itsperformance. It has the better position from the Asda of coming with competition from Aldi andLidl. For analysis the opportunities and threats there is required to analysis the PESTEL and 5forces analysis of the industry (Bican, Guderian and Ringbeck, 2017). By this management isable to make changes in their strategies according to requirements. PESTEL and 5 forcesanalysis are as follows:PESTEL analysisThe current environment is affecting to the business and whole retail industry by bothmacro and micro environmental factors. The PESTEL is used to identify the future trends withthe political, economical, social, technological, environmental and legal factors. Political factorsThis factor is affect to the business by introducing governments factors. This includesgovernment policy. Tax policy, labour law, environmental law and so on. This factors are impact1
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to business and its operations by making changes in government policy. Brexit sparked is effectto industry by including high inflation, devaluation of pound and sluggish economy. At the timeof Brexit pound price was devaluation, that time peoples of industry have not proper money togrow their business and purchase of raw material. Its result is declines the consumer spendingswhich is negatively affected to UK supermarket industry.Economic factorEconomic factors I significant impact on organization and whole industry performance.That factors are includes economic growth, interest rate, exchange rate, inflation and so on(Biemans, 2018). Following the Brexit pound rate in very lowest against the dollar as thatfinancially wake of it. This gives the financial problem to the humans of industry. With this foodprice is also inflation and the long economic in the UK. At that time Aldi and lidi offers theirproducts with high rate of discounts and this affect to business very badly. At that time Sainsburyis growing very slow with low and falling food price. Social factorEconomic factors are primary factors of the changes in peoples shopping habits which arealso affected to the growth of whole industry. There is social factor which is also impact to theshopping habits of the customers and growth of company. This can be affected by the fewerchanges in peoples tastes and preferences but at the time Brexit, shopping habits of customers aredirectly affected because there is price of pound is lowest. By these customers are not able to doshopping of their needs and wants products and discounters are give some discounts to peoples.For that Sainsbury is developed online shopping stores with discount, by this they are getsgrowth and increase their sales to customers. Technological factorsThe technological landscape changes are impact to business and management byintroducing new technology at marketplace (Cohendet, Parmentier and Simon, 2017). There aremost of the businesses are adopting the digital revolution for operate their business online butSainbury is not left this trend. They are introduced the digital services like online shoppingcentre and various services. By these customers are attracted towards it and make good profitsfor company and whole retail industry. This affect to whole industry who they are not using thetechnology in their business. Environmental factor2
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