Managing Innovation in Business

Managing Innovation in Business
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Executive Summary
The assignment has summarised about the concept of Innovation management. Generally, it has
been concerned on overall business capabilities and abilities through innovation in the
organization. In order to create opportunity for introducing new ideas, processes and products.
The report has been focused on the “Farmfood” company which is mainly based on the frozen
food supermarket enterprise. It has introduced the innovation in their business so that it help for
enhancing the business performance. Furthermore, the documentation will explain the overall
business productivity as well as profitability in global marketplace. It has considered the
innovation that will adapt in the organizational advantage. Sometimes, it become an
effectiveness in term of innovation requirement in business 2020 and its Beyond. In order to
measure the innovative capabilities and performance. However, it will summarise the
competitive advantage to gain more popularity for Frozen food industry in marketplace.
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Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
The future of industry 2020 and beyond......................................................................................4
Building future innovation capabilities for organization.............................................................7
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13
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INTRODUCTION
Innovation management is a process that provide brief idea about the overall business
capability in order to create opportunity for introducing new ideas, processes and products. It is
based on the creativity of innovative management and change the goals related to service or
enterprise process. It is the better idea for dividing into different steps such as invention and
imitation. In the global world of enterprise, there will be very little margin for errors, high
competition across countries. While increasing the population, globalization which are more than
one other competitors that has entered into the specific market. Furthermore, innovation
management will be utilizing the tool or platform that always supports for deploying creative
capabilities of workforce. In order to continue development of organization. The innovation
process will be either be pulled as well as pushed through business development.
The report is mainly focused on the “Farmfood” company that will introduce the innovation
in their business. In order to increase the overall productivity as well as profitability in global
marketplace. The documentation will describe about the innovation requirement in business 2020
and its Beyond. Furthermore, it will explain the organizational capabilities which help for
building the future innovation.
MAIN BODY
The future of industry 2020 and beyond.
The chosen organization is Farmfood which mainly based on the British Frozen food supplier
market in Scotland. It was founded in 1995, providing the various type of frozen food item as
well as service. Sometimes, it has been expanding the business which brings more innovation
throughout UK. There are approximately 3000 stored open in different cities (Bezpalov and
et.al., 2019). The organization is mainly produced the various kind of meat in order to provide
frozen food item. It is becoming successful enterprise in global market and support for changing
their business process afterwards, it will be implementing the innovation concept which brings
change in the food item distribution. In 1970, The Farmfood enterprise was setup in Aberdeen
that help to become a successful organization (Baldwin and Curley, 2020). Afterwards, it has
changed the manufacturing process while considered innovative to distribute item by using
online platform. In 1988, the organization had expanded their physical store and maintain the
position in marketplace. Moreover, Farmfood Company provide the better quality of item which
always attracts more customers. In order to encourage or motivate them. The primary aim of
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