Innovation in Business: A Report on Fulton Hogan's Strategies

This report examines Fulton Hogan, a construction company, and its approach to innovation. It explores the company's history, business strategies, and competitive advantages. The report highlights Fulton Hogan's focus on employee engagement, customer co-creation, and technological advancements. It also analyzes the company's strategic goals, including market growth and operational improvement. The report references key sources and provides insights into Fulton Hogan's innovative practices within the construction industry, emphasizing its commitment to community involvement and employee development. The report further outlines the company's differentiation through its unique approach to business, its strong focus on employee development, and its commitment to innovation and resource allocation.

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INNOVATION IN BUSINESS
FULTON HOGAN

+INTRODUCTION
 Process involving the creation of effective ideas,
products and processes is innovation
 Planning and implementation of the improvement of
the structured services and products can be
determined
 Purpose of paper is to understand the distinctive
nature of an innovative firm under construction
industry amongst competitors.
 Chosen firm under construction industry is Fulton
Hogan.

+IMPORTANCE OF INNOVATION
MANAGEMENT
 Allocating resources
 Solving the issues
 Marketing the businesses
 Responding to the competitions
 Economic Development
 Positive company culture

+ABOUT THE ORGANIZATION
 Fulton Hogan, a construction company operates in New
Zealand, Australia and South Pacific
 Started during1933 by Jules Fulton and Bob Hogan
(Taylor et al. 2017)
 Serves offerings for 85 countries
 7800 plus staff members (Fultonhogan.com 2020)
 Pionered with the construction of better infrastructural
design for compensating motor cycle popularity
(Fultonhogan.com 2020)

+DIFFERENTIATION AND
COMPETITIVE ADVANTAGE
 Main purpose and vision aims at being associated and
contributing back to the communities and external environment
 Crucial asset of the company, staff members are offered with
competitive wages and salaries, a wide range of discounts and
benefits, discounts, strong focus over the internal promotional
chances, over the tailored made training programmes and
Employee Assistance programs
 Competitive advantages focussed on efficient operational plan,
with the amalgamation of engaged employees and advanced
updated technology (Tidd and Bessant 2018)
 In FY 2016-2017, 40 projects and in 2016-2017 FY, 345 projects
were ensured by implementing innovation and optimal resource
allocation (Tahmoorian et al. 2019)

+BUSINESS STRATEGIES
 Main areas of strategies are creativity and innovation, co-
creation with customer involvement, expansion, and
employee centric-approach (Fultonhogan.com 2020)
 2017-2018 goal focussed at the significance of strong
relationship with customers
 Goals and strategies accompained by market growth and
operational improvement accompained by innovation
(Fultonhogan.com 2020)
 Positioned itself by maintaining existing relationships and
through collaboration, alliances and joint ventures with
the regional businesses

+REFERENCES
 Fultonhogan.com 2020. Fulton Hogan. Homepage - Fulton Hogan. [online]
Available at: https://www.fultonhogan.com
 Tahmoorian, F., Bracken, R., Wheatley, M. and Yeaman, J., 2019. Life Cycle
Assessment of Hot Mix Asphalt Containing Recycled Materials: Case Study
in Australia. In Airfield and Highway Pavements 2019: Innovation and
Sustainability in Highway and Airfield Pavement Technology (pp. 143-
149). Reston, VA: American Society of Civil Engineers.
 Taylor, S., Robinson, P., Percy, R. and Dinnison, M., 2017, April.
Strengthening and widening of the Maribyrnong River bridges.
In Austroads Bridge Conference, 10th, 2017, Melbourne, Victoria,
Australia.
 Tidd, J. and Bessant, J., 2018. Innovation management challenges: From
fads to fundamentals. International Journal of Innovation
Management, 22(05), p.1840007.