Strategic Innovation and Business Development

Running Head: Strategic Innovation and Business Development 1
Strategic Innovation and Business Development
Name
Institution
Date

Strategic Innovation and Business Development 2
Executive Summary
Online marketing is a powerful tool that can help a business to realize desirable outcomes from
its undertakings over a long period of time. The above tool is vital in widening the market for a
company’s products and services because of the easily accessible and convenient online
platforms. In regards to Coles Group, implementation of an online marketing strategy will help it
to widen its base by attracting potential clients from New Zealand. Currently, Coles operates
only within Australia and so adoption of an extensive online marketing strategy will help to
expand its operations abroad particularly New Zealand. Moreover, Coles has failed to overpower
Woolworths in the retail industry due to the fact that Woolworths operates both within and
outside Australia. As such, implementation of an extensive online marketing technique is likely
to widen Coles’ customer base, sales and profits both in the short run and long run. The report is
directed to the management team at Coles Group to adopt online marketing by devoting all the
necessary resources like finances and labor to ensure that all the associated benefits of the project
can be realized. In spite of the risks that are associated with the project, proper coordination and
collaboration during execution of the processes among the implementation team will minimize
the project risks.

Strategic Innovation and Business Development 3
Table of contents
Contents
Executive Summary.......................................................................................................... 2
Table of contents............................................................................................................. 3
1. Problem..................................................................................................................... 5
1.1 Background............................................................................................................ 5
1.2 Definition.............................................................................................................. 5
1.3 Evidence................................................................................................................ 5
1.4 Timing.................................................................................................................. 6
1.5 Context................................................................................................................. 6
2 Benefits...................................................................................................................... 7
2.1 Benefits................................................................................................................. 7
2.2 Importance of the benefits to Government......................................................................7
2.3 Evidence of benefit delivery...................................................................................7
2.4 Interdependencies.................................................................................................... 7
3. Strategy..................................................................................................................... 8
3.1 Approach............................................................................................................... 8
3.2 Strategic options...................................................................................................... 8
3.3 Recommended strategy.............................................................................................. 9
4 Options analysis.......................................................................................................... 10
4.1 Project options considered........................................................................................ 10
4.2 Stakeholder identification and consultation...................................................................10
4.3 Social impacts....................................................................................................... 11
4.4 Environmental impacts............................................................................................ 11
4.5 Economic impacts.................................................................................................. 12
4.6 Financial analysis................................................................................................... 12
4.7 Risks.................................................................................................................. 13
5 Deliverability of recommendation.................................................................................... 14
5.1 Recommendation................................................................................................... 14
5.2 Implementation..................................................................................................... 14
5.3 Management......................................................................................................... 14

Strategic Innovation and Business Development 4
5.4 Schedule.............................................................................................................. 15
Business canvas model................................................................................................. 15
Value proposition canvas.............................................................................................. 16
References................................................................................................................... 17
Appendix..................................................................................................................... 19