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Managing Innovation In Business in Tesco

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Added on  2020-12-09

Managing Innovation In Business in Tesco

   Added on 2020-12-09

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Managing Innovation InBusiness
Managing Innovation In Business in Tesco_1
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Organization and Industry Overview......................................................................................12.Organisation and its innovation history...................................................................................33. Industry in 2018......................................................................................................................4CONCLUSION ...............................................................................................................................6REFERENCES................................................................................................................................7
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EXECUTIVE SUMMARYThis project is summarises as field of innovation being undertaken by company TescoPlc. The main objective of project is to identify the drivers of innovation within a business andits environment. Leaders are the important people of company for successful plan, which is alsodiscusses in report. This present report explains the importance of organizational knowledgewhich helps to assess the innovation capability. As apart from this, report shows about the newservice of Tesco and activities performed for the successful development. The organizationaldevelopment audit for the new service will be explained in this assignment.INTRODUCTIONInnovation is a new idea, device or method, which viewed as application of bettersolution. It is considered as easiest solution to the complicated problems of people (Altenburgand Pegels, 2012). The company selected for this report is Tesco Plc, is a British multinationalgroceries and general merchandising retailer. The company headquarters in England, UK. Thisreport talks about innovation adopted by Tesco for simplification of business activities. Besidethis, the role of leader in developing successful plan is being explained in project. The reportdiscuss about importance of organizational knowledge and cross functional operations. Thevarious key activities are required for development of successful plan is also explained. There isorganizational development audit for new product or service is explained.MAIN BODY1. Organization and Industry OverviewOrganization existing innovation and performance and its capabilitiesInnovation is the process of translating an idea or invention into goods or services thatcreates value or which customers will ready to pay for it. It should be unique so that it can createvalue in front of customers. Tesco applies innovation in its company to provide quality goodsand services to the customers. Tesco is the largest grocery retailer in United Kingdom. It hasbeen retail a leader in retail innovation both at home as well as abroad for many years. In 2014sales of company goes down by 3% and organisation suffers from the decline. This business datashows that company needs to boost it sale in forthcoming year. The leaders of company have tofocus on the enhancing sales. The leader faced various kinds of challenges to develop theinnovative idea. The management and leaders had long term vision for Tesco instead of getting1
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