Managing Innovation in Business

MANAGING INNOVATION
IN BUSINESS

EXECUTIVE SUMMARY
Innovation in business is the creation of new techniques, launching new product line or
services, optimizing various functions of the business and implementing ideas for enhancing the
operational efficiency in order to gain competitive advantage and growth of the organisation.
Fashion industry in dynamic in nature and changes accordingly to times, trends, consumer
behaviour etc. However, the fashion industry is yet to radically innovate itself to the core.
Technology and fashion are interacting in a disruptive way. Therefore, an appropriate roadmap
to build innovative capabilities of the fashion companies is required to get a foothold on the
market share and work towards the future requirements. Burberry Group PLC is British luxury
fashion company and its headquarter is situated in London, England. It is known for innovation
and product differentiation. The organization itself designs, create and trades number of products
for customers. The company designs and distributes high-end apparels, ready to wear clothing
items like trench coats, footwear, cosmetics, fashion accessories, leather products etc. The
upcoming technological innovations in the fashion industry are digital mesh of connected
devices, 3D printing techniques, materials and machines, artificial intelligence and machine
learning, Internet of things and Blockchain technology. 3D printing is a great way to increase the
creation, repair and maintenance of various products like clothing, leather items, fashion
jewellery and footwear. Burberry has to focus upon innovation requirements like digital
transformation, design innovations, procurement, distribution, customer experience and
environmental sustainability. For designing purposes, smart tailoring techniques can bring a
revolution in the manufacture of garments. A roadmap to build innovation capacities of Burberry
sums up to determine the purpose, analysis of problems, specification of parameters,
commitment to management, visualisation, communication, operation management, monitoring,
attainment of targets and review. The best technological innovations that Burberry can adopt
according to its requirements are AI chat box stylist, 3D printing of personalised products and air
dying of products.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
The Future of the Industry 2020 and Beyond..............................................................................4
Innovation Requirements of Burberry 2020 and Beyond............................................................8
Future building capabilities and innovation roadmap for Burberry............................................9
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Business innovations refer to creation of new products or services by implementing
effective ideas as a catalyst to grow business. Fashion industry is dynamic in nature and the
trends change from time to time, therefore innovations by adapting to new technologies in
various areas like designing, supply-chain, procurement, customer experience, digital
transformation is important in context of future. Burberry is a UK based luxury fashion house
with it headquarters in London. Presently, the company designs and distributes a wide range of
high-end apparels, ready to wear clothing items like trench coats, footwear, cosmetics, fashion
accessories, leather products etc. The fashion industry is yet to radically innovate itself to core.
Technology and fashion are meeting in a disruptive way. The purpose of the report is to devise
an action plan roadmap for the development of innovation capabilities and implementing them in
Burberry. The report highlights the future of the fashion and luxury clothing industry describing
the predicted trends and operational changes in the industry along with new technologies that can
reshape the industry. The innovation requirements of Burberry for 2020 and beyond will be
highlighted. Apart from this the future building of innovation capabilities of Burberry will be
evaluated and a roadmap will be described along with recommendations.
MAIN BODY
The Future of the Industry 2020 and Beyond
The fashion clothing and accessories industry is dynamic and requires innovative
approaches for its operation and retail functions time to time. By 2020, the business environment
will be full of challenges with brands under pressure to embrace digital technologies, boost
earnings and undergo sustainability. Beyond 2020, technology can reshape the fashion industry
to its core. They are described as follows:
1. 3D printing, materials and machines: The continual Research and Development (R&D)
over the previous years in 3D printing industry has reached to a point where it has
become easy to print advanced materials like glass, carbon fibre, nickel alloys,
conductive ink etc. There has been an active usage of 3D printing in fashion industry for
practical applications like printing on demand leather, fur like materials, and advanced
materials like electronic circuits (Gomes and et.al., 2020). 3D printing is also used for
4