Strategy and Innovation for Heaven Scent Floral Design

Strategy and innovation

Table of Contents
Introduction......................................................................................................................................3
Outside in strategy...........................................................................................................................3
Advantages ............................................................................................................................3
Disadvantages.........................................................................................................................4
Implementation.......................................................................................................................4
Identification of general objective...................................................................................................4
Formation of specific plan...............................................................................................................5
Resource allocation and budgeting..................................................................................................5
Monitoring and controlling procedure.............................................................................................6
Differentiation strategy....................................................................................................................6
Advantages.............................................................................................................................6
Disadvantages.........................................................................................................................7
Implementation.......................................................................................................................7
Identification of general objective...................................................................................................8
Formation of specific plans..............................................................................................................8
Resource allocation and budgeting..................................................................................................8
Monitoring and control procedure...................................................................................................8
Bowman's strategy clock.................................................................................................................9
Recommended strategy..................................................................................................................10
SAF matrix.....................................................................................................................................10
Conclusion.....................................................................................................................................11
References......................................................................................................................................12
Appendix........................................................................................................................................13
Value proposition.................................................................................................................13
Bowman's strategy clock......................................................................................................14

Introduction
Strategy and innovation is defined as process where an organisation is reinvest and
redesign its corporate strategy in order to drive business growth. This process helps to generate
value for company, customers and create competitive advantage in company (Ali, 2021). This
type of process is essential for an organisation to adapt to the speed of technology change. It has
so many advantage like it helps to set clear goals for an organisation, it helps to identify
competition in an industry, helps to promote innovative culture in an organisation and many
more. In this report, Heaven scent floral design is taking into consideration which was founded
in 1996 having headquartered in United Kingdom (Cao and Chen, 2019). This report will
include different strategic options use by company in order to make its business performance
better and what strategy should recommanded to management of company in order to make their
business profitable. At the end of report a detailed conclusion will be made on the basis of
relevant data.
Outside in strategy
This is a strategy in which companies consider customer values as their starting and end
point. Companies generally use this strategy mainly focussed on creating and nurturing their
clients by provide high quality service to them. Generally under this strategy companies
considered themselves in a place of customers and view things from their point of view (Chen,
Wang, and Wang, 2018).
Advantages
By applying this strategy is business, Heaven scent floral will get different benefits.
 It will help company to make better relationship with customers which will eventually
help to increase sales of company.
 This will help respective company to understand the demand of customers in market and
make changes in product accordingly.
 By understanding the view point of customers, given company can develop its marketing
and selling strategies accordingly which will help to attract customers for business.
Disadvantages
There are certain disadvantages Heaven scent floral will get by applying this strategy.

 It is time consuming process as mentioned company have to spend so much of their time
to understand the view point of customer.
 Customer demand are ever changing it keeps on changing every time. Therefore Heaven
scent floral has to always keep an eye on demand of customer, which will somewhere
affect the operational functionality of company.
 This strategy will not mentioned company immediate positive effect, it will take some
time.
Implementation
There are different ways by which mentioned organisation can implement given staregy
in their organisation (Dodgson, 2018). Firstly, an organisation can make their social media page
on different platform such as Facebook, Instagram and many more. Through this they can ask
their customer feedback regarding their product. Moreover, those customers who visit shop for
purchasing flowers can ask to fill up feedback form so that they can get to know what customer
definitely expect from business. On the other hand, company can also send thanking email to
their customers for purchasing product from them and can ask to give their feedback regarding
product and customer service. Mentioned company can also make their websites in which they
can read customer views and work on it to provide better service to them. By these ways Heaven
scent floral can get in touch with customer and make changes in their product accordingly (Gao,
Hsu and Li, 2018).
Identification of general objective
General objective behind implementation of given staregy are.
 To identify the need and demand of customer.
 To cut off competition from industry and attract customers towards business.
 To offer best service to customers.
Formation of specific plan
For implementing given staregy in organisation, mentioned company have to set different
plans which are as follows.
 Heaven scent floral can make their social media on different platform. For successfully
implementation of this idea, company can convince customers those who visit shop for
purchasing flowers to follow their business page on Facebook and Instagram and can