Managing Innovation in Business

Managing Innovation in Business

Executive Summary
The report helps in summarizing that innovation is a crucial part of every organisation. It
leads an organisation towards success. Managing innovation in business enables them to improve
profitability, efficiency and productivity as well. The following report is carried upon Tesco and
it is necessary to successfully evaluate the history of innovations that the company has gone
through in order to meet all the requirements of the report. Tesco is a giant multinational
supermarket chain. It’s headquarter is located in Welwyn Garden City, Hertfordshire, England,
United Kingdom. In 1919 it began as a group of various stalls in the market. Basic drivers which
lead Tesco towards the development of innovative ideas are different market forces and
customer's satisfaction. They have expanded their business since then and are now successfully
operating in a number of different countries in the European and Asian region. Due to
innovations brought in by company they are successfully dealing with all their competitors and
changing external environment. In order to meet their entire customer’s requirement, it was
necessary for Tesco to continuously focus upon training and development of their employees as
well. Tesco is a leading organisation in the retail sector which is working in a number of
different countries throughout the world. There are also some marketing tools such as SWOT
analysis used to understand these factors effectively. SWOT analysis critically analyses various
strengths of the company such as its customer base, market share and reach. These are various
benefits which enable Tesco to attain opportunities available for them in the retail sector. The
report concludes ways in which retail sector trends are changing operations of Tesco.
Personalisation for consumers and enhance in technology are two major changes in the retail
sector that are changing the shape of Tesco.

Exceutive Summary
Make use of the feedback given earlier. In addition to the definition, it should contain the
purpose the report, the key findings of each section of the report and the models used. Other
issues relating to the company such as the issues relating to its industry. Then it should end with
the structure of the report. You need to be specific about the company. Research your company
and avoid general statements