Innovation Report: Waitrose - Analysis, Solutions, and Strategy

This report provides an analysis of innovation strategies, particularly focusing on their application within Waitrose. The report explores various innovation theories, including Schumpeter's theory, and their impact on service and idea generation. It delves into the practical implications of innovation, examining the potential of drone services and digital marketing strategies. The report also includes a reflective analysis of the innovation process, highlighting the challenges and providing potential solutions. Key aspects discussed include the development of new products and services, and the importance of aligning innovation with customer needs. The report references various sources, including academic journals and online articles, to support its findings and recommendations. The conclusion emphasizes the importance of innovation in the context of Waitrose, suggesting that drone services could be a beneficial innovative idea.

Professional
presentation

Innovation is a process that is used in organisations for
the purpose of implementing a new innovative services
or products in the existing scenario. This aspect is
related to development of a value that can enhance the
viability of a product and service for the existing
customer base.
Introduction

Impact of innovation:
There are different types of innovation theories that include
design thinking for which there is analysis of developing
solutions in order to manage the customer demand.

Continue
• Idea development: there are been overall development of Idea where the focus is made on service Innovation
and service process
• Innovation theory & Idea generation: There is a positive relation between generation of Idea and innovation
theory for development of a new innovative change. Innovation theories can assist in implementing an
innovation in Waitrose.

Schumpeter innovation theory:
Description: This element is related with overall description of
the incident. In the present report Innovation and enterprise
there is analysis of the different innovation perspectives for
Waitrose.

Continue
• Feelings: In this stage there was analysis of the various innovation
trends that are taking place in the industry.
• Evaluation: At this stage, the overall positive aspect of the situation
was I was able to learn about different types of innovation.

Continue
• Conclusion: In this stage various learning from the situation has to be
considered.
• Analysis: The available information on the secondary sources that is
online articles and journal sources assisted me in analysing the situation.

Continue
Action: In this step, there are some of the possible actions that
were taken by the various team members to analyse the
different similar situations that are going to be occurred in
future course of activities

Continue
• From the above made analysis of the overall reflective journey
it is analysed that there are different problems that arise in the
course of identifying the most viable innovation solution for
waitrose.

Conclusion
From the above made discussion it is concluded that drone
services is one of the most effective innovative ideas that can
be beneficial for organisation.

References
Juswadi, J., Sumarna, P. and Mulyati, N.S., 2020, April. Digital Marketing
Strategy of Indonesian Agricultural Products. In International
Conference on Agriculture, Social Sciences, Education, Technology
and Health (ICASSETH 2019) (pp. 105-110). Atlantis Press.
Mohajan, H.K., 2018. Qualitative research methodology in social sciences
and related subjects. Journal of Economic Development, Environment
and People, 7(1), pp.23-48.
Worthington, D.L. and Bodie, G.D. eds., 2017. The sourcebook of
listening research: Methodology and measures. John Wiley & Sons.

Thank You