Managing Innovation in Business: Future of Supermarket Industry 2022 and Beyond with Morrisons

Managing Innovation
in Business

Table of Contents
Executive summary .........................................................................................................................3
INTRODUCTION ..........................................................................................................................3
The Future of the supermarket Industry 2022 and Beyond with the context of Morrisons. ...4
The Organisations Innovation Requirements 2022 and Beyond. ( In the context of
Morrisons)...................................................................................................................................5
Building the Future Innovation Capabilities for the Organisation ( In the context of
Morrisons)...................................................................................................................................7
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................11

Executive summary
Innovation in the business is the regular required process which needs to be updated
constantly to offer something new to the shoppers and to satisfy the needs of the customer.
Innovation in the business develops the new opportunities for the employees to generate success
and to make them stand in the competition. This report is being made in the context of Morrisons
which a UK based supermarket chain. It make the deep analysation on the future of the industries
in terms of the technology and the advancement and how an organisation can make development
in the business in order to make themselves updated with the current innovation in the market.
INTRODUCTION
Innovation in the business is defined as the ability of the organisation to identify new
ideas and transform them into creating new products and the services that provides advantages to
the customer. The implementation of the innovation is whole process hat needs skilful, consistent
and the commitment towards the innovation and its use. The development in the innovation is
the implementation of the creative ideas and technology that makes improvement in the goods
and services that helps in making production process more effective and efficient. Innovation
management in the organisation is the whole procedure of managing innovation as it started
from the first stage that is ideation and ends to the final stage that is successful implementation.
It comprises the related decisions, activities and the needed practices of devising innovation
strategy. The management if innovation is very important for the business as turning the creative
and innovative ideas into the action with proper implementation is very much needed. This
report is being made in the context of Morrisons , which is UK based supermarket chain that
sells grocery products to the public. It headquarter is based in Bradford, UK(Attaran, M. and
Gunasekaran, A., 2019) . The aim of this report is to highlight innovation process in the
organisation and hoe to develop innovation road map. This report will cover innovation effects in
the future industries and beyond industries with that it provides the Morrison's innovation
requirements in the year 2022 and after that and at last in consist creating the future innovation
capabilities of the organisation.

TASK
The Future of the supermarket Industry 2022 and Beyond with the context of Morrisons.
Technological advances are very mush needed in the changing and reshaping world.
There has been been major changes in the retail super market sector. Technological innovations
in the online and the in-store with the constant change in the consumer expectations and
changing the way food retail operates (Bellucci, M., Bini, L. and Giunta, F., 2020) . The major
changes in the 2022 in terms of the innovation are increasing online shopping in the food and
grocery industry that makes the radical change. There has been imperative changes in the new
technology towards the retail and grocery sectors and these sectors are regularly working top
meet those expectations in every possible area of the business. The top trends that changes in the
industry in 2022 and beyond are discussed below:
 Tech transforming e-commerce - E-commerce has proven the most changing force in
the grocery retail which have the huge market share. In the recent research it is analysed
that there are leading online grocery markets that are expected to generate combined
sales almost $200 billion and with the annual growth rate of 20% by 2023. There has
been growth anticipation online growth opportunities across UK markets (Berman, S.
and Dalzell-Payne, P., 2018) . With the increment on the market share and the
advancement in the technology , it provides important growth opportunity in the retail
and manufacturing sector which provides ease and the convenience in combining online
of offline platforms to meet the range of shoppers needs.
 Physical store go digital- There has been a major changes in the technological
advancement that changes the way of people shop from the grocery in-store. With the
upcoming years the expectations has been raising towards the physical stores that offer
more digital experiences and with the consumer facing technology employed that makes
easy way for the consumer to find, research and buy products (Ch’ng, P.C., Cheah, J.
and Amran, A., 2021) . There has been many important weapons to go digital in the
physical stores that is shopping cart mounted devices or the smart phones apps which
make purchase easy for the shoppers.
 The rise of social e-commerce- The evolution in the e-commerce generates new ways
of shopping. By the social e-commerce it is being easy way for the retailers and the
suppliers in delivering targeted marketing with that it provides new ways to make online