Choosing the Innovation Management Business Model: A Report

This report delves into the realm of innovation management business models, with a specific focus on Marks and Spencer, a prominent retail company. It begins with an introduction to innovation and its significance in gaining a competitive advantage. The report then provides a comprehensive literature review, exploring different types of innovation, including disruptive, sustaining, and radical innovation. It introduces the innovation matrix, outlining its various dimensions and types, such as breakthrough, disruptive, basic research, and sustaining innovation. The methodology used for the analysis is briefly described, followed by findings and discussions related to the application of different innovation management models. The report concludes with recommendations based on the analysis, offering insights into the effective implementation of these models. References to relevant academic sources are also provided.

CHOOSING THE INNOVATION
MANAGEMENT BUSINESS
MODEL

Table of Contents
INTRODUCTION...........................................................................................................................3
Literature Review.............................................................................................................................3
Innovation and its types..............................................................................................................3
Innovation Matrix........................................................................................................................5
Dimensions of Innovation Matrix...............................................................................................6
METHODOLOGY..........................................................................................................................8
Findings/ Data Analysis/ Discussion...............................................................................................9
Conclusion.....................................................................................................................................10
Recommendations..........................................................................................................................10
........................................................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation refers to the process that is leads to development of new product or service in
order to satisfy the needs and wants of their customers. In addition to this, the reason to this is
also related to gaining competitive advantage over their competitors (Saebi and Foss, 2015). The
present report is based on Marks and Spencer, a large scale retail company which provides high
quality of products to its customers. Mainly the company deals in clothing which provides
premium range of cloths to its customers. In order remain competitive at marketplace, the
respective manager of the company brings huge variety of innovation in its processes and other
zones so that the can execute their business activities in such a manner which leads to business
success. The following assignment will make its discussion on the different innovation
management business model. Along with this, the focus will also be made on the criticisms of
these models that will provide with the places of use of this model or not. On the basis and use of
models, the decision could be taken related to the application of different models of innovation
management.
Business Model Innovation refers to the process of development of new, unique concepts
supporting an organization, financial viability, including their vision, mission and the processes
for bringing those concepts to fruition. The different concepts related to innovation management
are provided as under:
Literature Review
Innovation and its types
On the basis of perception presented by the author named as Weisburd and Braga, (2019)
it can be said that innovation is very important in every company so that they can deal with the
issues related to innovation. There are several types of innovation which have separate concepts
and motive. The theory of Irksome Headway, displayed in these pages in 1995, has shown to be
a fantastic point of view about advancement driven improvement. Various pioneers of close to
nothing, creative associations approval it as their controlling star; so do various chairmen all over
the place, dug in affiliations, including Intel, Southern New Hampshire University, and
Salesforce.com. Amazingly, disruptive theory is in danger of transforming into its own one of a
kind loss accomplishment (Taran and et. al., 2016). Despite far reaching dispersing, the theory's
middle thoughts have been for the most part misinterpreted and its essential statutes from time to

time wound. In addition, essential refinements in the theory over the span of late years appear to
have been obscured by the unmistakable quality of the basic definition. Consequently, the theory
is every so often investigated for inadequacies that have quite recently been tended to. On the
other hand, another author Christensen, Bartman and Van Bever, (2016), have expressed that
sustaining Innovation refers to the initiative which states that innovation is incorporated in order
to sustain an existing product within the company. In the starting it was examined that the basic
essentials of risky improvement and investigating whether they apply to User. It continued to
pursue huge extremely important occasions in the progression of our thinking and present the
protection that acknowledged empowers us to even more absolutely predict which associations
will create.
The distinction among sustaining and disruptive innovation is regularly misconstrued
by numerous individuals in business. Troublesome development makes new markets separate to
the standard; advertises that are mysterious at the hour of the advancements origination.
Built up advertise pioneers are amazingly great at managing and abusing supporting
advancements so as to fuel the transient development of their organizations. Troublesome
developments nonetheless, represent a test to advertise pioneers that many neglect to survive.
Disruptive Innovation make advertises that are at first too little to 'even think about being
intriguing' to huge built up firms. These organizations have an obligation to their investors to
keep up proceeded with development rates which can't be fulfilled by the little beginning returns
acquired through seeking after developing markets (Goffin and Mitchell, 2016). The
powerlessness of huge firms to enter these business sectors early gives littler firms and new
companies the benefit of time. The predominant firms will, unavoidably, enter these developing
markets when they become 'sufficiently fascinating', anyway the time between the business
sectors origination and the passage of these organizations is a significant asset for littler firms
that can go through this period to assemble information on both the market and innovation and
set up a speciality brand.
It is difficult to precisely anticipate the business sectors made by disruptive innovation
since they don't exist. This sounds clear yet such huge numbers of organizations seek after the
distinguishing proof of a solitary way for a problematic innovation. Just by doing this would they
be able to define an accurate arrangement for their organization when entering the market and
legitimize ventures of assets and capital. This interest is worthless. Rather than attempting to

seek after a flat out way these organizations ought to set up an arrangement that takes into
account numerous disappointments before recognizing the genuine market for the innovation.
This iterative procedure has been all around embraced by numerous web organizations over the
previous decade anyway organizations in numerous different ventures are as yet battling with
this idea.
On the basis of views expressed by Forés and Camisón, (2016) Radical Innovation is a
considerably increasingly jumbled task. It is a technique, rather than a discrete event, and
deduces a problematic, long and risky system. We can portray it in a couple of various ways, yet
doubtlessly will be exact to delineate it as a "blue ocean strategy", as Kim and Mauborgne
understand this term. A “blue ocean strategy” suggests that an association doesn't fight for a cut
of the market cake. Or on the other hand perhaps that, it makes another market, moving to the
other side from the gathering. This framework has many clear great conditions: It permits getting
a huge achievement, as long as the manager will be the pioneer in the field, with no competitors.
A vital great situation for Marks and Spencer. This bit of breathing space could permit to
guarantee an entire market, at any rate during the essential stages, setting up the gauges for the
have advantage. New markets are the whole distance open to propel improvement and
advancements (Tongur and Engwall, 2014). At the point when you have made another, the
options for further headways are typically high. It is possible to achieve radical progression
through Business Model Innovation. If you have to get a look to this topic, download our
Business Model Navigator Paper, an able material that will help you with seeing how outrageous
progression isn't just about building new things, yet about upsetting the present business basis.
Innovation Matrix
From the viewpoint of Ma, Ding and Zhu, (2018) the Innovation Matrix is a concept that
incorporates various aspect of innovation. There are different innovation matrices. This article
will provide with basic Innovation Matrix including four various types of innovation—and the
competence-based Innovation Matrix. The description is provided as under:
Innovation Matrix : Breakthrough Innovation
This advancement is here and there likewise called radical development, or progressive
development. The network shows that the issue is commonly all around figured, however that the
street towards it, the aptitudes, and space are still fairly hazy. Thomas Kuhn alluded to this

development as progressive since it makes a change in perspective. For instance, this happened
when the structure of DNA was found, or when the chip was concocted.
Innovation Matrix : Disruptive Innovation
It was Professor Clayton Christensen who presented the idea of problematic
development. He understood that numerous associations shape their advancement in the 'most
ideal' way, by tuning in to clients and putting resources into inquire about and improvement,
despite the fact that in certain circumstances these accepted procedures could be savage (Ruff,
2015). It was further determined by author that when the premise of rivalry changes, (for
example, contenders or mechanical advancements), associations become progressively better at
improving items that individuals need less and less.
Innovation Matrix : Basic Research
At the base left of the Innovation Matrix is essential research. Noteworthy developments
never emerge all of a sudden. As a general rule, a significant disclosure goes before them. On the
off chance that Albert Einstein hadn't shared his vision and disclosures about dark gaps with the
world, the space experts with the Event Horizon Telescope probably won't have prevailing with
regards to shooting the phenomenon. Basic investigate is directed by enormous organizations
like Marks and Spencer that put resources into R&D, colleges, government foundations, non-
benefit explore focuses, and people.
Innovation Matrix : Sustaining Innovation
Continuing advancement likewise suggest to firm development. Most development is
directed in light of the fact that something needs to perform superior to anything it can do now.
The objective is improving and extends existing conceivable outcomes. This can be found in the
advancement framework, issues are very much characterized and the street ahead is likewise
clear (Gambardella and Panico, 2014). This will effectively help company to operate their
functioning in best effective manner and further able conduct their functions in well effective
manner while undertaking all operations in dual concern. This will positively aid in increase
overall organizational benefits in best effective manner.
Dimensions of Innovation Matrix
According to perception presented by Blommerde and Lynch, (2016), the Innovation
Matrix has two measurements. The vertical line shows the level of advancement competency.
This is an association's capacity to think of and actualize new thoughts. The flat line shows an

association's level of devotion towards advancement. It is about how significant advancement is
for the association, how much exertion and assets it puts resources into development, and how
development is a piece of an organization's centre skills.
No Innovation Capacity
This class of associations doesn't generally enhance. This doesn't need to be a terrible
thing, however. A few associations don't develop, yet make included worth (York and Danes,
2014). Now and again these organizations are effective in view of their solid situation in the
market, though others perform at a normal level or make some troublesome memories.
Thinking About Innovation
The organizations in this classification are not yet significant trailblazers; however are
gradually beginning to discuss development and starting to perceive its significance. This
activity regularly originates from higher administration, for instance from the CEO's vision. In
spite of the fact that Marks and Spencer in this classification give more consideration to
advancement contrasted with the principal class, these organizations absolutely don't exceed
expectations at development yet.
Talk but No Action
The third class of the innovation incorporates firms like Marks and Spencer that give
close consideration to development, yet that don't really acknowledge it yet. For instance, official
advancement programs have been presented and gatherings are sorted out, yet there is no real
development.
Unexpected Innovation
The trend-setters in this classification as of now develop under a specific name, however
don't really accept they are great trend-setters. In spite of the fact that these organizations can
advance, they don't have the structure and assets to help it (Wang, Voss, Zhao and Wang, 2015).
Average at Everything
These associations have figured out how to set up a decent development structure, and
are commonly likewise showing signs of improvement at advancing. This gathering absolutely
can possibly develop into fantastic trend-setters.
Potential Stars
These organizations can improve well, and in this way assign an ever increasing number
of assets to advancement as a business action. They are associations that are committed to

advancement, and which have set development as the organization's point of convergence. This
gathering can produce new thoughts well, and can possibly develop into outright stars.
Effortless Innovators
These managers are the gathering of organizations that have been occupied with
development for quite a while. Their structure is ideally spread out and they have adequate assets
available to them. This gathering is truly adept at improving. Despite the fact that not all that a
lot of cash is spent on advancement, there is a project to deliberately enhance.
In this way, the importance of different models of business innovation could be
understood with the help of above provided information. In addition to this, to get positive
outcomes the importance of proper analysis is important so that the best possible outcome could
be derived from the application of different models.
METHODOLOGY
Data collection method
Data collection refers to the technique through which investigator gathered information
on the particular topic that is further analyzed by researcher for attaining desired outcome.
Information is basically gathered by two methods that is primary and secondary method. Primary
form of data collection method states that investigator gathers required information by directly
interacting with respondents (Laukkanen and Patala, 2014). This includes, questionnaire, survey,
interview, direct observation and other sort of sources. On the other hand, secondary method
simply states that investigator is gathers information by books, magazines, newspaper, journals
and other published data. In order to conduct present investigation, researcher have made use of
secondary method of data collection for gathering detailed information on the chosen topic. In
this method, main preferences were provided to books, Journals, online articles and other
associated published data which covers information associated to the work. The motive of using
this method is to conduct this research within the provided time framework with maximum
possible information over the same topic. Even though the proposed method has its own benefit
but still it has its associated drawback too. Information received from secondary sources data
collection is based on old data that does not provides fresh or current information to the
investigator.
Research Approach

There are two main types of approaches through which investigator analysis gathered
information. In research information is analyzed by qualitative or quantitative form of approach.
Quantitative method states that information is analyzed by making use of statistical formulas or
numerical data Whereas, in qualitative method information is analyzed effectively by includes
human perception in it. With reference to the present investigation that is presented on the topic
that is innovation management business model, researcher effectively make use of qualitative
approach in order to analyze the overall gathered information with the support of human based
perception in it. It can be said that usage of qualitative approach will provide support to
investigator in attaining valid outcome in rightful manner.
Findings/ Data Analysis/ Discussion
On the basis of overall information determined in literature review section, it can be that
there several types of innovation which are different from one another but still have been
incorporated by businesses according to their feasibility. With reference to Disruptive
innovation, this type of innovation states that company introduces new product or service which
directly creates new value network for the existing market. Later on, it has been determined that
at initial level its performance lower. In order to deal with the same, its important for the
company to the change their chosen market so that they can target right customers zone for the
same innovated product (Mahr, Lievens and Blazevic, 2014). This directly helps them out in
attaining success by making their product successful as per the requirement of company. In
addition to this, furthermore, it is determined that sustaining innovation is basically used by the
company in the situation when they wants to enhance sustainability of their existing product or
services. For instance: It can be said that when Marks and Spencer realizes that some of their
common designs and pattern are not popular among its customer range of particular region then
they prefers to introduce some new fashionable touch in it in order to grab attention of
customers among them in such a manner so that they perceive same product in different manner.
This ultimately enhances their sales performance as well as profitability in rightful manner.
Along with this, it has been further determined that incorporation of innovative matrix helps
company in achieving their planned innovation in rightful manner which results in its success.

Conclusion
From the above mentioned discussion, it has been concluded that innovation is termed as
the effective way through which company can effectively influence interest of customers towards
them in lucrative manner. It can be further said that there are several types of innovations which
could be incorporated by the business associations according to their belonging to the particular
sector. In order to incorporate any kind of change within the company, it is highly important for
the business managers to adopt right business innovation model that could help them out in
attaining success in the quicker manner.
Recommendations
By performing the investigation over the management of innovation within an
organisation it has been identified that business model support up to a great extend in delivering
the innovational plan in more systematic and effective manner. But despite of this there are
certain issues that the manager of Marks & Spencer may face while implementing the business
model due to inappropriate execution of activities from employee's side. So, following
recommendations are provided to the manager of Mark & Spencer.
 The Marks & Spencer must focuses toward provide training to employees who are
involved in this project so that proper understanding and involvement of employees can
be achieved which further contribute toward accomplishing the main goal behind brining
innovation.
 It is also recommended that their must remain a free flow of communication among the
employees while implementation of a business model, so that employees feel free to
share their issues and idea for improvement which brings up most positive outcome.

REFERENCES
Books and Journals
Blommerde, T. and Lynch, P., 2016. A maturity matrix for assessing service innovation
capability.
Christensen, C.M., Bartman, T. and Van Bever, D., 2016. The hard truth about business model
innovation. MIT Sloan Management Review, 58(1), p.31.
Forés, B. and Camisón, C., 2016. Does incremental and radical innovation performance depend
on different types of knowledge accumulation capabilities and organizational
size?. Journal of Business Research, 69(2), pp.831-848.
Gambardella, A. and Panico, C., 2014. On the management of open innovation. Research
Policy, 43(5), pp.903-913.
Goffin, K. and Mitchell, R., 2016. Innovation management: effective strategy and
implementation. Macmillan International Higher Education.
Laukkanen, M. and Patala, S., 2014. Analysing barriers to sustainable business model
innovations: Innovation systems approach. International Journal of Innovation
Management, 18(06), p.1440010.
Ma, P., Ding, F. and Zhu, Q., 2018. Decomposition-based recursive least squares identification
methods for multivariate pseudo-linear systems using the multi-
innovation. International Journal of Systems Science, 49(5), pp.920-928.
Mahr, D., Lievens, A. and Blazevic, V., 2014. The value of customer cocreated knowledge
during the innovation process. Journal of Product Innovation Management, 31(3),
pp.599-615.
Ruff, F., 2015. The advanced role of corporate foresight in innovation and strategic management
—Reflections on practical experiences from the automotive industry. Technological
Forecasting and Social Change, 101, pp.37-48.
Saebi, T. and Foss, N.J., 2015. Business models for open innovation: Matching heterogeneous
open innovation strategies with business model dimensions. European Management
Journal, 33(3), pp.201-213.
Taran, Y. and et. al., 2016. Business model configurations: a five-V framework to map out
potential innovation routes. European Journal of Innovation Management, 19(4),
pp.492-527.
Tongur, S. and Engwall, M., 2014. The business model dilemma of technology
shifts. Technovation, 34(9), pp.525-535.
Wang, Q., Voss, C., Zhao, X. and Wang, Z., 2015. Modes of service innovation: a
typology. Industrial Management & Data Systems, 115(7), pp.1358-1382.
Weisburd, D. and Braga, A.A. eds., 2019. Police innovation: Contrasting perspectives.
Cambridge University Press.
York, J.L. and Danes, J.E., 2014. Customer development, innovation, and decision-making
biases int he lean startup. Journal of small Business strategy, 24(2), pp.21-40.