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Managing Innovation In Business Assignment - Greggs Plc

   

Added on  2020-10-22

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Managing InnovationIn Business
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Executive SummaryThis report explores the concept of innovation and illustrates its significance within anorganisation to enhance its business growth and profitability. It is based upon Greggs Plc whichis a bakery encouraging introduction of rapid innovations at regular intervals. The majorobjective of this enterprise is to gain strategic edge over rivals by bringing innovations inproducts and processes. The first part of report illustrates the overview of Greggs and itsinnovation history. PESTLE analysis is conducted to determine the macro environmental factorsthat act as drivers for innovation within the enterprise. It is assessed that political, legal,environmental, economical, social and technological factors encouraged the organisation in pastto bring up innovations. Second part of report talks about the existing performance of companyalong with the internal capabilities that encourage entity to invest in innovation. SWOT analysishas been conducted for this purpose to ascertain the probable strengths and shortcomings of theorganisation. It has been evaluated that company is capable of bringing innovations such asintroducing health conscious food in order to tap advantage of a large section of audience withinUK that are very particular about their calorie intake. Lastly, the overall scenario of retail,(specifically bakery) industry has been highlighted to gain knowledge of present condition of thissector as well as the future scope for companies to come up with innovation. In this regard, it isassessed that there is high threat of new entrants and rivalry which need to be considered bycompany in order to ensure its sustainability. It has been analysed that company is implementingSAP software so as to improve the existing processes and enhance overall organisationalperformance.
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Table of ContentsExecutive Summary.........................................................................................................................2INTRODUCTION...........................................................................................................................1The Organisation & its innovation History............................................................................1The Organisations existing Innovation Performance and Capabilities..................................3The Industry............................................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
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