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Innovation Management in Business (Doc)

   

Added on  2020-10-22

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MANAGING INNOVATIONIN BUSINESS
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EXECUTIVE SUMMARY The report will cover about management of innovation in business. Innovation managementmeans whatever the company does to acquire its growth and profitability. Like many companiesinnovate using technologies, or by launching new product to capture new market or existingmarket. This report will explain innovation management by the help of Sainsbury's Plc, a supermarketcompany of UK. This company deals with retail market and does a lot of innovation forsuccessful functioning of the company. Sainsbury plc is founded in 1869 by John JamesSainsbury. There are many competitors of the company in every market it operates andSainsbury is capable enough to give a tough competition to them. In the report all the innovations of Sainsbury plc will be discuss. The company makes innovationby launching products like Bacon and by opening of different stores in different countries.Sainsbury mainly focuses on opening of new stores in some area of Scotland, North-East ofEngland, Northern Ireland and North Wales. Sainsbury then make innovation regarding product development. As the company focuses onfood sector, they got shifted towards non-food items like CDs, DVDs, Wrapping paper, Cardsetc. And also clothing of TU brand and home ware. After company manage its innovationthrough opening up subsidiaries like Argos and Habitat and gains a huge profit from thesesubsidiaries. Then the company started online selling with a tag line “click and collect”. Afterthat company start producing electricity by bio-methane gas which found profitable for thecompany. It supports environment and gain customer base. By launching an environmentfriendly practise, the company gain attraction of many customers. After that innovation of Sainsbury in 2018 will be highlighted. All the innovation regarding thebusiness will be covered. Innovation regarding combination of Asda group with Sainsbury's andalso the increase in product line by launching toys, jewellery, smart home products and luxuryitems. By the year end company also involved in the development of digital and technologydepartment with the changing era, company found it is essential to develop. The company alsolaunches many apps for the convenience of shopper like chop-chop app. And company also dodigital promotions by launching digital coupons on Eagle eye and shopper can redeem them.Scan & go solution is also an innovation by the company for promoting digitalize environment.The report will cover all these innovations.
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Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................2MAIN BODY...................................................................................................................................2About Sainsbury and innovation history................................................................................2Sainsbury existing innovation performance & capabilities....................................................4Industry in 2018......................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................81
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INTRODUCTIONInnovation Management consists of management in innovation process and the changemanagement (Schmiedel,2015). It focuses towards innovation in an organisation or industry.Every organisation in the industry have to deal with innovation towards their businesses. Thisreport is all about Sainsbury, a super market company. It is a retail company of United Kingdomand holds the second largest position in chain of supermarkets. Its current market share is 16.9%in supermarket sector. This report will lay emphasis on description about Sainsbury and itsinnovation history. The report will also highlight about existing innovation performance andcapabilities of the company Sainsbury. Trend updates of 2018 will also be highlighted in thisreport.MAIN BODYAbout Sainsbury and innovation history About SainsburySainsbury is a private limited company which deals in retail trading. It was founded in 1869 byJohn James Sainsbury. Its headquarter is in London, UK. Net operating income of the companyin 2018 was £518 million. There are many subsidiaries of Sainsbury, some of them areSainsbury's bank, Sainsbury supermarket Ltd., Sainsbury Local, Argos, Habitat, Nectar. Asrefereed to the data of Sainsbury, company provides employment to 186,900 people. TESCO andUniliver are major competitors of Sainsbury. The Sainsbury also updates its business globally tocapture huge market segment (Dowling, 2019).Figure 1 : LOGO of SainsburySource : (Sainsbury’s Superstore, 2019)2
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