Managing Innovation in Business

Managing innovation
in business
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Executive Summary
Sainsbury is the innovative and the most famous retail sector store in the United Kingdom it
offer different type of products mainly organic food and grocery. It had created various
innovative products for this business and at the time of the brexit issue it performs their business
function very well. During the time of biggest pandemic it had sale many grocery product and
generated good revenue.
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Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
OVERVIEW OF SAINSBURY......................................................................................................4
History of Sainsbury........................................................................................................................4
Sainsbury existing innovation performance...................................................................................6
Impact of Brexit...............................................................................................................................8
Impact of Covid-19..........................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................9
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INTRODUCTION
It can be stated that in the organization it is very important to managing the innovation
because in the changing modern era our economy move towards the technology and innovation it
necessary for all the organization to run with the innovation to survive in the market for the
longer period of time and also to easily compete with the competitors.
The retail industry of United Kingdom has been covered by four main retailers such as
Tesco, Sainsbury, Wal-Mart and Morrison. Likewise it is estimated that around 394 billion of
sales has been generated through retail sector of United Kingdom in 2019. There are 319125
business in retail industry that are contributed a large amount to growth and development of
country. In recent scenario, there is digital marketing trend in retail sector as companies are
making use of social media, email and different medium to connect with its potential customers
in minimum cost and time frame.
The purpose of this report is about the retail sector industries innovation and its scope is
wider due to the customer demanding the innovative products (Edwards, 2019). In this report
detail analysis of the Sainsbury industries overview, organization existing innovation
performance, current performance of the industry, impact of Brexit and Covid-19 will be
discussed.
MAIN BODY
OVERVIEW OF SAINSBURY
Sainsbury is the UK based biggest retail chain supermarket it was founded in the year 1869 in
the Holborn and it’s headquarter in the London. John James Sainsbury is the founder of this
Sainsbury plc it is public limited company. It offers their services mainly in the area of republic
of Ireland and United Kingdom.There are total 111,900 number of the employee working at the
Sainsbury and it total net income is around £152 million also its operating income is £986
million and its total revenue is £28.993 billion. Sainsbury brands are Argos, Nectar, TU and
Habitat it offer products at the forecourt shop, Hypermarket, convenience shop and supermarkets
to all the type of customers (Xiao, Chen, and Yu, 2021). Key people of Sainsbury are Simon
Roberts is the CEO, Lord Sainsbury is the life president and Martin Scicluna is the chairman of
Sainsbury.
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