Analysis of Tech Innovation Impact on ASDA's Strategic Performance

This report evaluates the impact of technological innovation on the strategic performance of ASDA Plc within the UK retail sector. It begins by defining strategic management and performance, highlighting their relevance to the retail industry. The report identifies key factors influencing strategic management, including internal aspects like managerial expertise and external forces such as competition and socio-economic conditions. It analyzes how technological innovation affects strategic performance, particularly in the context of ASDA's operations. The research methodology employed includes both secondary and primary research, utilizing questionnaires and interviews to gather data. Finally, the report provides recommendations for ASDA on strategically adopting technological advancements to enhance its strategic performance and maintain a competitive edge in the evolving retail landscape. Desklib offers a range of similar resources for students.

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Contents
Chapter 1: ........................................................................................................................................1
TOPIC..........................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Aims and objectives.....................................................................................................................1
Research Questions......................................................................................................................2
Rationale......................................................................................................................................2
Chapter 2:.........................................................................................................................................4
LITERATURE REVIEW............................................................................................................4
Chapter 3.......................................................................................................................................10
RESERACH METHODOLOGY...............................................................................................10
Chapter 4.......................................................................................................................................13
Secondary and Primary research ...............................................................................................13
Chapter 5........................................................................................................................................21
Recommendation ......................................................................................................................21
Conclusion.................................................................................................................................21
REFERENCES..............................................................................................................................22

Chapter 1:
TOPIC
To evaluate the impact of technological innovation over the strategic performance with
reference to retail sector of UK – A study on ASDA Plc.
INTRODUCTION
Corporate strategy and governance are defined as a system through which companies are
directed and controlled. To operate a business successfully in changing environment there is a
need to follow the regulations that are formulated by the government as they are strict and
support operating the business regularly. A business should be properly planned and organized as
it brings different types of products that are in demand and supports to continue it effectively.
For business organizations use of new technology and innovation is creating expansion and
attaining higher profitability (Audretsch, and et.al., 2019). Getting success in a business could
be an opportunity for the organization to attain competitive advantages as it supports managing
all functions and activities. The current project is based on developing an understanding of
technological innovation which is affecting the strategic performance of the retail sector. ASDA
is a British supermarket chain, that was founded in 1949. It is headquartered in England and
offers a range of products at retail prices. The organization views the needs of its customers and
puts efforts to offer kinds of services that can help to develop organizational productivity. The
report covers research aims, objectives, methodology, literature review, and outcomes.
Aims and objectives
Aim
The study aims to determine how technological innovation is affecting the strategic
performance of UK retail sector by taking the case of ASDA plc.
Objectives
 To understand the concept of strategic management & performance with reference to
retail sector.
 To identify the factors affecting strategic management and performance.
 To analyse how technological innovation is affecting strategic performance of firms
within the retail sector.
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 To recommend ASDA on how they should strategically adopt technological advancement
for better strategic performance.
Research Questions
1. What is meant by strategic management and strategic performance and how it is relevant
for the retail sector?
2. What are the factors affecting strategic management and performance?
3. How strategic performance within the retail sector has affected as a result of
technological innovation?
4. What strategies could be recommended to ASDA with regard to the adoption of
technological innovation for better strategic performance?
Rationale
The main reason of conducting the research to improve their insights regarding about
corporate strategy and planning which are used to develop the business performance. The current
research is about corporate governance and strategy which are used by business concern for the
purpose of growing their business. The researcher is having major role as it receive topic and
conduct the analysis to attaining relevant and valid information. By analysing the study
researcher will develop their personal and professional knowledge. In context to personal,
marketing, interpersonal, and communication skills could be improved. Moreover, professional
term improves understanding about impacts of corporate strategy on strategic management that
supported to grow a business continuously. The researcher will conduct the research by
managing all functions and research activities which supports to attain higher performance
(Singh, and et.al., 2019).
Problem faced
Research is the main area which is analysed by researcher for the purpose of conducting
research and managing the data properly. This is needed for individual to analysis the
environment and comes to know how each function and activities needs to perform well. The
major problem which are connected to research is lack of resources and capital that could create
the challenge in running the study. The resource are important to managing the business
activities and functions appropriately as it supports to develop the activities and functions. If
there is lack of resources and management of activities then could be challenging to regulate the
business.
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Research Scope
The current research is having wider scope as it bring new ideas and thoughts after
concerning with people that can help to manage the all functions and activities effectively. The
researcher is a person who have good knowledge and skills to evaluate the environment and
managing the data properly. The aim of investigator is to collect various data and information
regrading particular topic as it bring new changes in existing performance. The current research
will help to attain positive outcomes after collecting information and bringing higher
performance. The research is about corporate governance and strategy which are used to
formulate the regulation on a business and complete the project timely.
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Chapter 2:
LITERATURE REVIEW
2.1 To understand the concept of strategic management & performance with reference to
retail sector.
As per view point of Lall (2019) Strategic performance is defined as methodology that is
used by individual for the purpose of improving and measuring performance, monitoring and
accomplishing the business goals. To operate a business in changing environment is a greater
task for each business industry where different types of strategic plans are formulated by
management as it bring new ideas and technology to expand their business. Strategic
management is the involvement and implementation of different legislation and policies which
are formulated for the purpose of managing business performance and activities. If there is not
specific plans and strategy then could be challenging to regulate their business. In other words,
strategic management refers to planning, organising, and controlling the existing as well as new
performance. It has seen that many changes occurs in business environment where it became
important to introduce the changes as it might be affect the business productivity and
profitability. The strategic plan is the continuous process of developing a plan to achieve the
goals and come up with new products and services. For each business organization strategies are
most important as it uses to bring ideas in order to operate business properly and systematically.
The performance of a company mainly depends on various functions and activities which are
important to follow and bring changes accordingly.
In context to retail sector, strategic management is defined as main aspects which are
used by organization for the purpose of managing their performance and productivity. To have
good knowledge regarding particular topic as it bring changes in existing performance and
supports to accomplish the business goals. The retail sector is the larger corporation in which
different types of products and services are provided to customers which can help to develop the
business productivity. For example, ASDA is the larger retail sector that offers range of products
at retail prices which can help to develop the business performance by managing all functions
and activities. The management of such organization focused over strategies and planning in
order to accept new technology and new process to operate their business effectively (Verhoef,
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and et.al., 2021). Without strategies and planning it became difficult for organization to run their
business and manage the activities.
2.2 To identify the factors affecting strategic management and performance.
As per view point of Markard (2020), Strategic management is defined as performance
measurement tool that is used to measure, monitor, and improve the methodology in order to
achieve overall organizational objectives. The performance of an organization involves financial
success, customer satisfaction, internal process efficiency, and organizational capacity
optimization that supported to develop the organizational performance. The strategic
performance management is connected to methodology which is used to improve the
methodology and organizational productivity. This is important for each organization to analysis
the environment and comes to know what kind of products and services should be provided to
their customers as it bring innovation and new technology to attaining the higher performance. It
has seen that there are internal and external factors which are used by business industry to
analysis the business performance and bring the changes accordingly. The internal environment
is connected to activities and functions which arises from the organization for the purpose of
running their business. This is important for each organization to analysis the internal
environment and comes to know which factor might be affect the business productivity. The
management is having major role who conduct the analysis and supports to accomplish the
business performance. In the business era, managerial expertise and experience, technological
innovation, competition, socio-economic factors and laws applicable on the industry. The
managerial expertise and experience relates to working method of individual and group of people
who works collectively for the purpose of growing their business and attain the higher
productivity. The managerial person requires to have proper understanding and knowledge which
could be used to develop the business productivity and profitability. The technological
innovation means to introduce the new technology and innovation that means managers needs to
introduce better quality of products and services in changing environment that could be used to
bring higher performance and productivity. As Covid-19 occurred in whole business world
where it became challenging for business organization to operate their business continuously as
government has announced to lock down which has been affected the organizational productivity
and profitability (Saura, 2021). The managers of selected organization make the use of new
technology and digital transformation for the purpose of influencing number of people and
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supports to accomplish the business goals. The competition is another factor which can be used
to by business industry to know their competitors and bring changes in their existing
performance which can help to develop the organizational performance. The managers require to
have proper understanding and knowledge which can be used to maintaining higher performance
by bringing new functions and activities that supports to accomplish the business goals. Social-
economic factor that are related to needs and wants of people who lives in society has affected
the organizational performance. To overcome the challenge of social-economic factor there is
need to provide kind of products and services as it influences the number of people and
encouraged to make buying decisions. This also helps to bring changes in products according to
new trend and offering kind of services which supports to accomplish business goals. The
internal factors could be control and manageable which could help to influence the number of
people and attaining higher performance.
The external factor relates to government legislation and policies which are formulated
by government for the purpose of running their business and might be affect the business
negatively. It has seen that government has changes the different regulation of UK due to
occurrence of Brexit that has been impacted business badly. The government has announced to
no to buying and selling the products in European country that reduced the organizational sales.
The managers requires to have proper knowledge and skills to bring changes in their existing
performance and attain higher profits by managing all functions and activities effectively. The
environmental factor is also relates to external factor which could create the challenge for
existing business industry as it changes the people's insights regarding particular products and
services. In relation to ASDA, participation in CSR activities and charity could encouraged the
people to develop their performance by bringing new functions and activities effectively. This
could help to bring the changes and managing good performance by following the environmental
regulation. Thus, from the above it has been explained that having good strategies and planning
could be opportunity for business industry to grow their performance and profitability.
2.3 To analyse how technological innovation is affecting strategic performance of firms within
the retail sector.
As per view point of Björkdahl (2020),Technology is the main aspects used by
organization for the purpose of introducing new products and services that can help to
accomplish the business goals. The technological innovation is the extended innovation concept
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uses by business industry to improve their products and process to manage the functional
activities. This is important for each organization to understand what people wants and how they
could be satisfied in order to manage the all business functions. Without technological
innovation it could be challenging for organization to continue their business functions by
bringing changes and new activities. The role of technology in the retail industry touches nearly
every aspect of business for both e-commerce sites and brick-and-mortar stores. With the help of
new technology, ASDA is touching their higher growth by introducing new products as it make
the use of inventory management software which can help to develop the organizational
productivity. The organization is using technological innovation that affects strategic
performance of firm within retail sector are explained below:
Enhancing in-store shopping experience – Technology is the important factor which is
used by organization for the purpose of increasing the experience of their their customers in
context to shopping as it virtual reality and Augmented reality that helps to introduce the
products and services accordingly. Each organization should think about new products and
services which are supported to bring higher performance by showing through VR and AR
technology. This can help to develop the business performance and productivity effectively.
Managing the inventory – A retail sector is established for introducing products and
services by managing the inventory as it helps to develop the business performance. Inventory
management is the important aspects which requires to be done by managers for running their
business and attaining business productivity. In relation to ASDA, management make the use of
inventory management by using a software as it helps to introduce the different types of products
and services by tracking record and managing inventory properly. This could help to develop the
business performance by managing stock properly.
Big data analytics in retail business management – Data analysis is the effective term
which can be used by organization to analysis the data and information which are connected to a
business environment. This involves collecting, sorting, and analysing the business data properly
by bringing changes in their existing performance and helps to accomplish the business goals. In
relation to ASDA, there are different types of software by using new technology that supported
to analysis the big data in retail sector and supports to accomplish the business goals. The
management will help to operate the business regularly and develop the business productivity.
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Increasing organizational sales and profitability – The environment is changing day
by day where it became important to showcase new products and processes to reach the targeted
customers and attain higher performance. Due to pandemic all offline stores has been closed that
has affected the ASDA negatively. It has seen that management of selected organization make
the use of new technology and innovation for the purpose of showcasing products via digital
marketing that helped to target the audience and increase the organizational sales and
profitability (Distanont, and Khongmalai, 2020).
Reducing cost and increase revenues – An organization needs to focus on training and
development program where it has to get ready employees to accept the changes and maintaining
higher performance. This is important for each organization to analysis the needs and wants of
their customers then provide training which can help to run the business. By using new
technology and digital channel ASDA has increased the awareness between people that helps to
save the extra cost such as transportation, visiting, rent, and workplace employees resulting
increase in revenues (Yu, 2020).
Maintaining good relationship with customers and suppliers – A retail sector in UK
has been affected positively by using technological innovation as it supported to maintain the
good relationship between employees and customers which can help to develop the
organizational performance. This is important for each organization to understand what their
employees wants and maintain the good relationship with suppliers and customers by
maintaining effective communication that can help to develop business productivity.
Improve customer satisfaction – For business organization customer satisfaction is
needed as it increases the organizational sales. By using new technology ASDA reaches to their
potential customers and offer products and services as per their wants resulting higher customer
satisfaction.
2.4 To recommend ASDA on how they should strategically adopt technological advancement for
better strategic performance.
As per view point of Afuah (2020), Strategic performance is needed for business
organization as it bring changes in existing performance and supports to accomplish the goals.
The management plays a vital role who conduct the analysis and formulate different strategies
for the purpose of developing their business performance and productivity. ASDA is operating
its business in UK retail sector by offering different types of products and services as it helps to
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accomplish the business goals. The company has adopted the technological advancement for
better strategic performance that is explained below:
To bring change and provide learnings – Whenever an organization introduces new
changes then it needs to focus on training to employees as they get ready to work continuously
and accomplish the business goals. ASDA has adopted changes strategically by providing
training program to their staff which can help to develop the learnings and attain higher
productivity.
Achieving faster goals – The right technology can improve strategic execution by
changing the goal setting and tracking all records that can help to accomplish the business goals.
In relation to ASDA, technological innovation is becoming greater as it helps to achieve the
organizational goals by bringing changes in their existing performance that supports to attain
higher productivity (Sabahi, and Parast, 2020).
To provide motivation – Motivation is needed for employees as it get ready people to
adopt changes and managing higher performance. Without motivation it became difficult for
organization to operate their business and bring changes in existing performance. The managers
requires to have proper knowledge to mange the functions by providing motivation to their staff
that helps to accomplish business goals. In context to ASDA, motivation should be provided by
employer to their staff which can help to bring higher performance and profitability (Khayer,
Talukder, Bao, and Hossain, 2020) .
Formulation of effective plans and policies – ASDA should be recommended to follow
the plans and policies in order to develop the business productivity. The management introduces
new products and services by following the strategic planning as it supports to accomplish the
business goals.
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