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Managing Innovation in Business - PESTLE Analysis

   

Added on  2021-01-01

10 Pages2835 Words60 Views
Managing Innovationin Business1

Executive SummaryInnovation is key element of every organisation and it is necessary that business carriesout continuous development and bring about products with new features ahead of its competitors.This report is based upon General Motors which is a leading auto-mobile companyheadquartered at Detroit, Michigan. The first part of the report comprises of the overview of theorganisation. In this section, drivers of innovation are ascertained with the help of PESTLEanalysis. The second part of report explores the existing innovation performance of company.Also, by using SWOT analysis, this section ascertains the probable capabilities of company tobring innovations in its products in future so as to ensure its long term sustainability inmarketplace. The third part of the report gains an insight into the auto mobile industry and use ofinnovation by competitors by using Porter’s Five Force Model. Company is planning to developsuch vehicle development processes that lead to manufacturing of cars of entity at a larger scaleand working towards designing and developing fuel efficient cars. It is highly recommended thatenterprise engage in such practices that do not cause harm to environment by making sure that itbrings transformational change in the cars by engaging in the process of innovation. 2

ContentsINTRODUCTION...........................................................................................................................4The Organisation & its innovation History............................................................................4The Organisations existing Innovation Performance and Capabilities..................................5The Industry............................................................................................................................7REFERENCES..............................................................................................................................103

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