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Managing Innovation in Business - Assignment

   

Added on  2020-12-18

12 Pages2888 Words166 Views
Managing Innovation inBusiness
Managing Innovation in Business - Assignment_1
EXECUTIVE SUMMARYThis report will lay emphasis on managing innovation. Managing innovation simply meansmaking new changes in existing businesses. The innovations of Burberry group plc will be takenin the report for better understanding of this topic. The report will cover a brief introduction ofthe Burberry plc. The company was founded by Thomas Burberry in 1856. This report willhighlight the innovation history of Burberry. Also, it will discuss about capabilities of Burberryand their existing innovation performance. The company is indulging in various innovation fortheir growth. This report also highlights innovation of retail industry in the year 2018.
Managing Innovation in Business - Assignment_2
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION ..........................................................................................................................4MAIN BODY...................................................................................................................................4About Burberry & its innovation history ...............................................................................4Burberry existing innovation performance and capabilities ..................................................6The industry in 2018...............................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
Managing Innovation in Business - Assignment_3
INTRODUCTION Management of innovations is to make changes in traditional management processes,principles and practices. It is a management of activities that are needed to introduce somethingnew or innovating (Biemans,2018). In this report innovations of businesses will be explained bytaking Burberry group plc. Burberry is a British luxury fashion brand founded in 1856 byThomas Burberry. The company deals in clothing, fragrances, and other accessories. This reportwill lay emphasis on innovation history of Burberry. Also, report will highlight existinginnovation and capabilities of the company. The report will discuss retail segment in whichBurberry deals in 2018. MAIN BODYAbout Burberry & its innovation history Burberry group PlcBurberry group Plc is a luxury fashion industry origin from British. Burberry'sheadquarters is in London, England. The founder of Burberry group plc was Thomas Burberry in1856. The company deals in fashion accessories, sunglasses, trench coats, cosmetics andfragrances. Burberry is listed in London stock exchange (LSE). The company serves theirproducts worldwide (Bouncken, and Fredrich,2016). Hence, in 2015 ranked 73rd company ininter brand's best global brands. Chairman of Burberry is Sir John peace and CEO is MarcoGobbetti. Although, the company is attaining profitability and their annual revenue of 2018 was2,732.8 million pound. The company has established themselves as Luxury and iconic brand ofBritain. Innovation HistoryBurberry was founded by Thomas Burberry in 1856. Then, he invented Gabardine consists ofbreathable, weatherproof, and hard wearing fabric in the year 1879. The company opens theirfirst store at 30 Haymarket, London in 1891 and in 1909, another at 8 Boulevard Malesherbes,Paris. During The first and Second World War, company designs trench coat for the Armed forceof Britain (Cantwell,2017). Then in 2000, Burberry opens stores at bond street, London for their exposure as a luxury andiconic brand. In July 2002, The company listed in London Stock Exchange (LSE). In 2004 theylaunched their website in US and UK in year 2006. In 2011, Burberry opened 5 stores in Saudi
Managing Innovation in Business - Assignment_4

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