Managing Innovation in Business - Burberry Case Study

Managing Innovation
in Business

Executive summary
Innovation refers to introducing a new ideas or introducing the new way of doing a
particular work. Innovation means practical doing or an implementation of a new idea. It can be
a product or can be a service. Innovation also includes invention of new products or services in
the business. Innovating new products or services results good when customer is willing to pay
for that product or service. Regards to the businesses innovation is very necessary as it creates
values for the business and also helps the business to grow by earning more profit. In a business
it is necessary to introduce new products and services which helps business to compete in the
market. Innovation also helps in the faster growth of the business as innovation helps is
increasing the sales that ultimately results in more profit. There is continuous change in the
trends, by innovating new products or services it helps business to kept relevant to the market.
There is need of conducting research as helps the company to know about the situation of
external market and need of innovation. This report has evaluation related to the innovation
history of the business organisation. There is evaluation of the existing Innovation Performance
and Capabilities of the organisation. There is need to manage the company as per the trends
present in the market. Therefore, there is discussion related to key trends of industry in 2021.

Table of Contents
Executive summary..........................................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
The Organisation & Industry Overview..........................................................................................4
About the company and its innovation history...........................................................................4
The Organisations existing Innovation Performance and Capabilities.......................................5
The Industry in 2021...................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES:.............................................................................................................................10
Books and Journals...................................................................................................................10
Online........................................................................................................................................10