Managing Innovation in Business: Future Strategies and Innovation Requirements for Subway

Managing Innovation
in Business

Table of Contents
INTRODUCTION...........................................................................................................................1
The future of the industry 2022 and beyond..........................................................................1
Organisations innovation requirement 2020 and beyond ......................................................4
Building of future Innovation capabilities..............................................................................5
CONCLUSION................................................................................................................................7
References:.......................................................................................................................................9

INTRODUCTION
It is a essential for every organization to focus on their innovative strategies so that they
will gain competitive advantage within the market. Innovation is not all about thinking
something new or introducing a new product or process but it also consists of producing those
products and services which will mitigate the problems of society and help them to satisfy at
their maximum level. The food industry in UK is one of the fastest growing industry which
continuously contribute in innovations. This is the industry which must require to innovate
because as time passes the customers’ needs and wants limited to their foods and beverages are
becoming developed and high demanding (Ali, and et.al., 2021) The main purpose of this report
is to identify the future innovative strategies for the business and what all changes a business can
suffer After 2022. the first coverings of this Report are the future of the food industry in 2022
and beyond, the innovations required by the organization for their upcoming time and the
building of future innovation capabilities by the organization. Subway is chosen organisation for
this report which is American multi-national fast food restaurant franchise which primarily sells
submarine sandwiches, wraps, salads and beverages. It was founded in 1965 by Fred De Luca
and Peter Buck. It is one of the most popular fast-food chains in the industry. It is well known for
their high-quality sandwiches and their soft drinks. It has 37,540 locations in more than 100
countries and territories with 410,000 number of employees involving franchise.
The future of the industry 2022 and beyond
In context of food industry, the customers are having high demand for quality and fresh
food products to consume. Today, most of the customers want to reach those students which are
hygienic and offer them fresh food products. Customers are ready to sacrifice the price which
means they can’t even pay a little high price but their primary motive is to get tasty food which is
made with fresh ingredients. The food industry in UK is currently switching to sustainable
development which means they are innovative within their restaurants and within their menu.
The innovation is not only seen in the products but it also seen in the packaging systems where a
company have to use those packaging systems which are decomposable and the labelling should
be perfect (Arsawan, and et.al., 2020). Customers in this industry are becoming more health
conscious and hence, they are focusing on the labelling to analyse the expiry date, ingredients
used to prepare that food product, and many others. However, after the year 2020, food and
1

beverages industry are ready to face the challenges related to the past year and develop various
tools and techniques which can enhance their business productivity and sales. After this
pandemic, the people across the globe have become more health conscious in order to eat foods
from market place. In context to Subway, the management of this company has to adopt various
health safety measures regarding the production of their foods items which can help them to
maintain their brand image and reputation in the mind of their potential or new customer's. Due
to global pandemic and strict protocols creates by the government have made people all around
the globe to remain in their houses. This has made much more fundamental interaction of
citizens with technology which majorly includes online channels such as food panda and many
more online food provider application (Coelho, and et.al., 2019). People become more digital
savvy and start to transact their food order through online channels which has also become a
trend for future. It has been examine that the organisation of food and beverages sector
implement this online techniques for conduct their business operations which can help them to
make effective communication with their customers. The change in the preference and demand
of the consumer demand has made the food companies to develop various new techniques of
production and business model which can create more core value for their customers. However,
2022 will not be good year of sales of various food and beverages organisation.. Covid-19
remains as a topic of concern as long as its new variants are been come out in various parts of
world. There are major trends in relevance with food and beverages industry regarding Subway
are mentioned below:-
Generation X as consumers- The food and beverages companies can focus on satisfying
the necessities of their consumers in relation to Generation X. In this generation both employees
and customers who are related with the company are concerned. They have jobs and spending
power without their reliance on their parents. In context to Subway, they can offer the
appropriate and impressive product to their customers by creating and adding innovative food
products in their menu (Kelliher, Kearney, and Harrington, 2018).
Utilization of digital world-. In context to Subway, they have their online channels
through which they inform their customers regarding their new and upgraded products. In today's
world, online practices are no longer used for new start-ups or e-commerce business activity
various industries can adopt this process to do the sales of their product and services. Well-
2