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Managing Innovation in Business - Assignment

   

Added on  2021-01-02

11 Pages3008 Words368 Views
Managing Innovation inBusiness
Managing Innovation in Business - Assignment_1
EXECUTIVE SUMMARY In this report, we have covered that innovation history and organization such as move rapidlyfrom design to market innovation in all aspects and fast consumer feedback. This kind ofinnovative idea help to increase brand awareness and productivity of organization. We havediscussed that existing innovation performance and capabilities of organization which involvesaugmented virtual reality as innovative ideas for increasing the consumer attraction andawareness towards brands. Furthermore, we have covered that industry in 2018 which includesvirtual fitting room virtual tailors, digital clothing design and customization that have adopted bythe clothing companies for increase profits and market share of business. We have discussed thatinnovation is the essential for creating the new ideas and thoughts for expanding the business atthe global level. We have covered the different innovation strategies like technologyadvancement, social media marketing and promoting of products and services within themarketplace. These innovation strategies help to expand the business at the international level,increase market share and revenue of company. This aid to create high level position ascompared to competitors and beat competition by company.
Managing Innovation in Business - Assignment_2
TABLE OF CONTENTSEXECUTIVE SUMMARY ............................................................................................................2INTRODUCTION...........................................................................................................................1MAIN BODY ..................................................................................................................................1Innovation history and organization ......................................................................................1Existing innovation performance and capabilities of organization .......................................2Industry in 2018......................................................................................................................3CONCLUSION ...............................................................................................................................5REFERENCES ...............................................................................................................................7
Managing Innovation in Business - Assignment_3
INTRODUCTIONThe managing invention is the combination of handling the procedures and changemanagement. It involves set of tools which enable managers to cooperate with commonunderstanding of procedures and objectives. It allows responding to external and internalchances and utilise creativity to introduce new thoughts processes and products (Biemans, 2018).This study is based on Zara. It is the fast fashion retailer based on Artexio in Galicia. It is theworld largest clothing retailers. Report will explain innovation history of organization. It willstate existing innovation performance and capabilities of company. The future of industry will bediscussed in this assignment.MAIN BODY Innovation history and organization Zara is the Spanish Fast fashion wearable as well as appurtenant retailer based in Artexioin Galicia. It is primary brand of Inditex unit and world's largest clothing retailers. Companymanages up to 20 clothing collection as of 2017. The stores of Zara have apparel of men andwomen and children. The products of company are supplied based on trends of consumers.There are over 7000 stores of Zara in 50 nations which are situated across 96 marketplaces.Company was ranked 30 on list of Inter-brand of the best international brands in the 2015. It iswell-long-familiar aspect of one of world's most innovative retail groups. With the innovationand flexibility, the business model is unique and success of overall group (INNOVATIONLESSONS FROM FASHION LEADER, ZARA. 2019). The beliefs of the Zara is to get manynew fashions to market very fast. In order to that, company is getting the many of innovationwithin the business such as:Ideas from different places: Company can get the lost of ideas from the different placesfor new products design in a year through innovation. Therefore, designing team of Zara consistsof 350 people which they are charged with making and delivering 18000 new products design ina year. In this context, company is getting the ideas from books, magazines, twitter and otherblogs but above all from feedback from their stores (INNOVATION LESSONS FROM FASHIONLEADER, ZARA, 2019). They are attending the fashion shows and talk about fashion to get theinnovative ideas which is ongoing process of the firm. Now they are getting the ideas from thesocial media and Instagram.1
Managing Innovation in Business - Assignment_4

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