Business Practices and Innovation: A Sainsbury's Analysis

This presentation explores the impact of innovation, knowledge, and skills on business practices, using Sainsbury's as a case study. It examines how innovation influences business practices, including the use of advanced technology, innovative products, new delivery methods, and customer complaint handling. The presentation also discusses the importance of knowledge and skills in business, highlighting their influence on business analysis, interpretation, and employee abilities. Innovative practices within Sainsbury's, such as product customization and emphasis on ethics, are discussed, alongside development opportunities like digital marketing and personalized email marketing. The conclusion emphasizes the essential role of innovation and the need for continuous development to achieve business goals. This presentation is a valuable resource for students on Desklib seeking insights into enterprise and innovation.

Innovation and
Enterprise

Introduction
Innovation refers to a process through which something new is
created within an organization. Enterprise means a business
venture which has been established with the purpose of making
an appropriate use of innovation in an effective manner in
providing different products and services. For this presentation,
Sainsbury's has been chosen. It is a British Company which
provides groceries and other related products to its various
customers in the market. In this presentation, focus will be made
on the impact which innovation has on the various business
practices within an organization.

Influence of Innovation, Knowledge and
Skills on the Business Practices of the
organization
Innovation-
Innovation is a practice through which the
organizations aim to develop something
new for the future so that the customers
can be satisfied in a better manner.

Continued...
Influence on business practices-
 Use of advanced technology in the stores- In the retail sector,
there has been a use of advanced technology in the stores in an
effective manner.
 Innovative products- Retail sector witnesses frequent changes
in the technology due to the dynamic changes in the business
environment.
 New delivery methods- In the retail sector, the customers
nowadays are preferring more comfort and thus are opting for
new delivery methods for their extra convenience.

Continued...
 Handling of customer's
complaints- The retail
sector has witnessed
innovative approaches
through which the
various complaints of
the customers can be
handled in the right
manner.

Continued...
Knowledge-
It refers to the facts, information and
skills which are gathered about a
particular subject or field.

Continued...
Influence on business
practices-
 Analysis &
Interpretation- With
the use of knowledge the
management is able to
perform the right
analysis & interpretation
in an effective manner.

Continued...
Skills-
Skills means the ability of doing something new or
obtaining an expertise in something. Managers
require them so that they can target innovation or
becoming an expert in their specific fields in an
effective manner.

Continued...
Influence on business
practices-
 Enhancement of abilities
of employees- If a business
targets skill enhancement
for the employees then it
will mean that they are able
to bring more efficiency
and effectiveness in the
overall processes.

Continued...
 Promotion to specialization-
Targeting of skill development in
the businesses leads to more
specialization in their overall
processes. This makes the work
more easier.

Innovative practices used within
Sainsbury's
 Product customization- Product customization is being used
nowadays in the organizations because by using it the
customers are able to make sure that they can customize the
various goods according to their own choice.
 More importance to ethics and values- The companies are
targeting providing more importance to their ethics and values
which will make sure that they are able to deal with their
customers in a better manner.

Development opportunities
 Digital marketing- Digital marketing is becoming quite
important for the companies nowadays.
 Personalization in Email Marketing- Personalization in Email
Marketing is required to be developed by Sainsbury's so that it
is able to offer more choices to its customers.

CONCLUSION
From the above presentation, it can be concluded that Innovation is
quite essential to be considered by the businesses. An Enterprise is
formed by using an innovative approach in products and services to
target the customers. Innovation, Knowledge and Skills have an
impact on the business practices in various ways. The organizations
are using various innovative practices nowadays. However, there is
still a scope for them to be able to ensure that more development is
done within these practices so that the different types of goals and
objectives are achieved.

Thank You