Managing Innovation in Business

Managing innovation in
business

EXECUTIVE SUMMARY
Business innovation means that making changes that added value in terms of either
revenue growth or enhancement in operational efficiency in organisational development and
enhancement. Respective value can be added by introducing the new products and services or by
using new business model. Respective report is based on the significance of innovation for
organisation and required attributes to imply innovation in organisation.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY ..................................................................................................................................4
The Industry in 2016....................................................................................................................5
The organisations existing innovation performance and capabilities..........................................6
REFERENCES .............................................................................................................................10

INTRODUCTION
Innovation is the important tool or activity of business organisation which helps to
introduce new product and services in market for the purpose of expanding business and getting
higher profits. Without innovation it become difficult for organisation to sustain in competitive
market and get profits. Innovation is taken by management by using this skills and knowledge
which helps to increase the productivity. The main purpose of preparing report is to understand
about innovation and importance in business increases production level. Therefore, Farmfood
has been selected to know about this which has introduced innovation in their business and
making profits. The structure of this report categorised in parts such as about organisation and its
innovation history, existing innovation performance and capabilities. Moreover, this cover
information about industry in 2016 which help to increase the profitability.
MAIN BODY
The Organisation & Industry Overview
About business organisation and its history
Farmfoods is a private British frozen food supper market in Cumbernauld, Scotland. This
organisation was founded in 1955 in order to providing frozen food products and services. This
organisation has expanded their business by bringing innovation throughout the United Kingdom
and it has over three hundred stores (Alexander and Joe, 2019). This basis of this organisation
on Aberdeen which is meat manufacturing business. In beginning of 1970s, experimental freezer
was set up in Aberdeen, that helped to become a successful business. The entire business of
Farmfoods has changed its manufacturing and distributing process where it brought innovation to
distribute products via online across the border. In 1988, such company had expended to thirty
one stores and become competitor of others. This organisation provides better quality of foods
which attracts customers and encourage them to buy them. The main aim of Farmfoods is to
producing foods and other crops which is basic facility in food production. This organisation
gained entry into England in around 1990, by acquisition of eighteen stores from Wallis Frozen
Foods. It has been evaluated that it has over 300 specialist freezer centres across the UK. The
organisation is continuing to focus on providing frozen food in upcoming period where it
developed range of goods by including dried goods, cleaning products, caned goods, fresh fruit,
veg and drink, chilled items, confectionery which attracts people and buy the products (Brand