Limited-time offer! Save up to 50% Off | Solutions starting at $6 each  

(solved) Managing Innovation in Business: Assignment

Added on - 23 Nov 2020

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 4 of 12 pages
MANAGINGINNOVATION INBUSINESS
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................3INTRODUCTION...........................................................................................................................1LAND ROVER AND ITS INNOVATION HISTORY...................................................................1PESTLE Analysis........................................................................................................................1LAND ROVER'S EXISTING INNOVATION PERFORMANCE AND CAPABILITIES...........3SWOT Analysis..........................................................................................................................3THE INDUSTRY IN 2018..............................................................................................................6Porter's Five Force Analysis........................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
EXECUTIVE SUMMARYInnovation is an element which encourages improvement in the products as well asservices present with an organisation to enhance their usefulness. The current report is based onmanaging innovation in business and for that purpose, Jaguar Land Rover has been chosen.One prime agenda of this report was to determine the innovation history of the company.To attain this purpose, PESTLE analysis has been used and evaluated in relation to all the majorinnovation done by the firm in its history.Another aspect which is covered by the report is the existing innovation capabilities ofJaguar Land Rover. SWOT analysis has been used to effectively analyse inner strengths andweaknesses and external opportunities and threats. Moreover, a new product has been introducedby the name of “Safety Integration System”.Lastly, this report undertakes an in-depth analysis on the automotive industry in 2018 andcovers all the major aspects to determine its attractiveness. This agenda has been fulfilled byapplying Porter's Five Forces Model which helped in analysing the five major aspects of thisindustry.
INTRODUCTIONInnovation is an immensely important function within an organisation which considersimproving one's existing offerings in ways which enhances their importance as well as theirvalue(Winterhalter, Zeschky and Gassmann, 2016). The following report is based on JaguarLandRover which is a British auto-mobile company, which deals in manufacturing as well asdistribution of luxury cars. It covers innovation history of the organisation, its existinginnovation performance and capabilities and the industry in 2018.LAND ROVER AND ITS INNOVATION HISTORYAn organisation as big as Land Rover is world renowned and is associated withinnovating its products and services since the very beginning. The company has its roots evenbefore 1950 and is continuing to grow as one of the most effective and strong companies in theworld. To effectively showcase its innovation history, PESTLE analysis has been used which areexternal pointers influencing a firm and its functions.PESTLE AnalysisPolitical:This aspect undertakes how political stability and policies assists a firm in carrying out itsbusiness activities effectively. Back in 1947, the firm created its first vehicle using a Jeepchassis. To avoid using expensive tools, the structure of the car was made from light allow andoff-cut fabrication was used for the chassis (The History of Land Rover,2019). The UKgovernment at that time was having a robust post-war period which created market gaps servingas an opportunity for Land Rover to launch itself officially in 1948.Economical:This factor showcases economy's performance how it influences a company's operations.During 1960's the economic performance of the UK was quite shaky. However, it markedreduction in various aspects, for instance, relative competitiveness. The economy of the UK hasalways been a positive factor for innovation in the company. Moreover, such support from theeconomy allowed the firm to launch its Series IIA with higher diesel engine capacity andinnovative 12 seater design,Social:1
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document