Significance of Innovation and Tech Management on ASOS Performance

This report investigates the significance of innovation and technological management in enhancing the business performance of ASOS, a British online fashion and cosmetic retailer. It begins by outlining the research aim, rationale, questions, and objectives, emphasizing the importance of innovation and technology for ASOS in gaining a competitive advantage. The literature review covers the concept of innovation and technology management within the retail industry, the benefits for ASOS such as increased competitiveness and improved brand image, the challenges faced during implementation like lack of diversity and collaboration, and strategies to overcome these challenges through training, development, and change management. The methodology section details the research philosophy (positivism), approach (deductive), strategy (survey), and data collection methods (questionnaires and secondary sources). The findings include frequency distribution and data interpretation from the survey. The report concludes with recommendations, reflections, and suggestions for further research, highlighting the role of innovation and technology in achieving long-term goals and improving overall business performance. Desklib provides access to this report and other study resources.

Research project
(Significance of innovation and technological
management in improvement of business
performance)

Table of Contents
CHAPTER ONE: INTRODUCTION..............................................................................................1
1.1 Research Aim and Rationale.................................................................................................1
1.2 Research Questions...............................................................................................................1
1.3 Research Objectives..............................................................................................................2
1.4 Significance of the research..................................................................................................2
CHAPTER 2: LITERATURE REVIEW.........................................................................................3
Introduction to literature review..................................................................................................3
Main body...................................................................................................................................3
Innovation and technological management in context with retail industry............................3
Benefits of innovation and technology in improvement of business performance of ASOS.3
Challenges that could be faced by ASOS while implementing innovation and technology
within an organisation............................................................................................................4
Strategies that would be used for overcoming those challenges linked with implementation
of technology and innovation within an organisation............................................................4
Conclusion to the literature review.............................................................................................5
CHAPTER THREE: METHODOLOGY........................................................................................6
3.1 Research philosophy ............................................................................................................6
3.2 Research Approach...............................................................................................................6
3.3 Research Strategy..................................................................................................................6
3.4 Research Methodology..........................................................................................................7
3.5 Data Collection......................................................................................................................7
3.6 Sampling...............................................................................................................................7
3.6.1 Identifying Population and Research Site..........................................................................8
3.7 Cost, access and ethical issues .............................................................................................8
CHAPTER FOUR: FINDINGS.......................................................................................................9
Frequency distribution table........................................................................................................9
Data interpretation.....................................................................................................................10
CHAPTER FIVE: DISCUSSION ...............................................................................................19

CHAPTER 6: CONCLUSION, RECOMMENDATION, REFLECTIONS AND IMPLICATION
FOR FURTHER RESEARCH.......................................................................................................21
Conclusion.................................................................................................................................21
Recommendations.....................................................................................................................21
Reflection .................................................................................................................................22
Alternative research methodology............................................................................................22
REFERENCES..............................................................................................................................23
APPENDIX ...................................................................................................................................24
Questionnaire............................................................................................................................24

CHAPTER ONE: INTRODUCTION
Innovation and technological management is one of the important elements in the
organisation. Innovation management deals with advance and new technologies and other
significant non-technical innovations (McClements and et. al., 2021). On the other hand,
technology management deals with the continuation and maintenance of existing and updated
technologies. The interface is created by Research and Development management which has
both points of contact with innovation and technology management. ASOS is a selected British
online fashion and cosmetic retailer. Company was founded in 2000 by Nick Robertson, Andrew
Regan, Quentin Griffiths and Deborah Thorpe. It is important for ASOS to develop innovation
and technology within an organisation because these will help them in improving their business
performance by increasing number of customers.
1.1 Research Aim and Rationale
Research Aim
To identify the significance of innovation and technological management in improvement
of business performance of an organisation: A study ASOS
Research Rationale
Main rationale behind conducting this research is to importance of innovation and
technological management in betterment of business performance of an organisation (Anderson,
2021). Innovation and technological management is highly significant for business organisation
because these helps them in improving their business performance as well as assist in
accomplishment of competitive advantages. There are different advantages of innovation and
technological management for ASOS such as developing an innovation culture, involvement
without time and place restrictions, increase employee engagement, avoid errors in selection
process and many others. As a result, innovation and technology management are important part
of the business success and growth as well as helps them in attainment of competitive
advantages.
1.2 Research Questions
 What is the concept of innovation and technological management in context with retail
industry?
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 What are the benefits of innovation and technology in improvement of business
performance of ASOS?
 What are the challenges that could be faced by ASOS while implementing innovation and
technology within an organisation?
 What are the strategies that would be used for overcoming those challenges linked with
implementation of technology and innovation within an organisation?
1.3 Research Objectives
 To study the innovation and technological management in context with retail industry
 To determine the benefits of innovation and technology in improvement of business
performance of ASOS
 To examine the challenges that could be faced by ASOS while implementing innovation
and technology within an organisation
 To determine the strategies that would be used for overcoming those challenges linked
with implementation of technology and innovation within an organisation
1.4 Significance of the research
This research or topic is highly significant for researcher, ASOS and many others. For
researcher this research helps them by fulfilling their personal and professional requirements
through enhancing research skills that are data collection, time management and many others
(Flavin, 2021). For ASOS, current investigation is highly significant for them by increasing their
knowledge regarding the ways that would help them in development of innovation and
technology within an organisation.
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CHAPTER 2: LITERATURE REVIEW
Introduction to literature review
Literature review is the process of gathering secondary information from books, articles,
journals and many other sources. Main purpose of literature review is to identify the research gap
in previous studies.
Main body
Innovation and technological management in context with retail industry
As per the views of Zhang, Khan, Lee and Salik, 2019, Retail industry uses the
technology is in a vast way and it is helpful for the retail industry in order to administer its
purpose in important way. There are assorted magnitudes in which technology is applied within
retail industry for example monitoring orders, following up of stock, enhancing decision making
and tracking value of products. The retail industry is straightly associated with customers and its
gives the technology with a provision of different positive areas to the retail industry and is
helpful in formulating the businesses and acquiring the success as well. Innovation is defined as
the procedure of an creative idea, method and procedure which is used by the business
organisation for the increment of business performance and productivity. Technology is the
method which is basically used by business organisations in order to make work more simple
and easier.
Benefits of innovation and technology in improvement of business
performance of ASOS
According to Schilling and Shankar, 2019, innovation and technology is utilized within
company so that the development of organisational performance can be made. There are some of
the positive aspects of innovation and technology in improvement of business performance of
ASOS are:
Increased competitiveness: It is one of the benefit of innovation and technology in improving
the business performance of ASOS. This is because increased competitiveness is the benefit
which is assistive in getting rivalry advantage in the market place.
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Improved brand image: It is an another benefit of innovation and technology in improving the
business performance of ASOS. This is because brand image is related with the market
reputation which helps in improving the innovation and technology brand goodwill as well.
There are assorted benefits of innovation and technology within a workplace of ASOS. For
example, reduced cost and improved productivity along with the improved brand value and
increased turnover which is followed by the improved profitability and many more. All these are
the primary benefits that assist the business organisation in acquiring of the rivalry benefits also.
Challenges that could be faced by ASOS while implementing innovation and
technology within an organisation
As per the opinion of Tidd and Bessant, 2020, there are different challenges which are
suffered by the company at the time of innovation and technology management such as:
Lack of diversity: Lack of diverseness is one of the leading challenge which is suffered by the
firm while executing the innovation and technology management. It basically means that there
are technical encouragement which is taken in the form of minimised magnitudes.
Lack of collaboration: Lack of collaboration is an another challenge which is suffered by the
enterprise at the time of executing technology and innovation management in the firm. This is
because it is the aspect when staff are reluctant to adopt any change within the company and this
creates several problems as well. There are other several challenges also which are suffered by
ASOS during the implementation of innovation and technology management. For example,
inadequate staff training for the new technology and proper implementation along with the
adopting new technology and many more.
Strategies that would be used for overcoming those challenges linked with
implementation of technology and innovation within an organisation
According to Song, Fisher and Kwoh, 2019, there are various strategies to overcome the
challenges with the issues. It is important to implement in a way such as:
Training and development: It is one of the strategy to overcome with the challenges. This is
because training and development challenges are related with innovation and technology can be
rectified by simply taking the measures which must be comfortable for the employees to use and
operate.
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Change management: It is an another strategy to overcome with the challenges. This is because
change management is defined as that measurement of which is used within company in order to
adopt such changes which are supportive for the firm in order to align with the new market
direction.
Conclusion to the literature review
From the above mentioned information, it has been conducted that innovation and
technological management helped business organisation in accomplishment of long term goals
and objectives as well as improvement of business performance.
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CHAPTER THREE: METHODOLOGY
Research methodology is the chapter that gives certain research methods for collecting
and analysing information so that objectives could be attained systematically. There are various
methodologies that are used to collect and analyse information which are explained below in
detailed way.
3.1 Research philosophy
It is the technique or method used for collection, analysis and using data about any topic or
research. There are two varieties of research philosophies such as positivism and interpretivisim.
These are effective philosophies but for doing current research, positivism is a selected
philosophy because it helps in collecting, evaluating and using numerical information within less
time period (Rashid and Sipahi, 2021). There are certain reasons behind the selection of
positivism philosophy such as helps in getting numerical information, not takes maximum time,
nor require additional cost and resources etc. These are main benefits that are useful in selection
of positivism philosophy as compared to interpretivisim type.
3.2 Research Approach
It is the process of evaluation and analysis of gathered information from an effectual type
of research approach. There are two types of approaches that are inductive and deductive. For
this investigation, deductive approach is considered to be useful for the researchers because it
helps them in evaluating statistical and numerical data within required time period. There are
various advantages regarding the selection of deductive approach such as provide numerical
information, helps in gathering data from larger samples and many others. Thus, as compared to
inductive approach, deductive is more valuable and useful for the investigator.
3.3 Research Strategy
There are various types of research strategies that are case study, grounded theory, survey,
action research and many others. All these are main strategies but within this investigation,
survey will be a chosen strategy because it helps them in gathering numerical information
effectively and systematically (Turnbull, Chugh and Luck, 2021). There are also some benefits
regarding the use of survey strategy such as not require maximum time, assist in collecting data
in numbers and many others. Therefore, as compared to other strategies, survey is a time as well
as cost effective strategy.
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3.4 Research Methodology
Research methodology is the method that provides two important types that are:
qualitative and quantitative research methodology. Qualitative research methodology is one of
the kinds that helps researcher to accumulate theoretical information which is available in text
format. On the other hand, quantitative research methodology is about conducting investigation
by accumulating numerical piece of information. As per the requirement of present research,
researcher has selected quantitative research methodology so that whole investigation can be
completed with numerical and statistical piece of information (Cantrell, Mariani and Lengetti,
2021). The biggest benefit of quantitative research methodology is it only consider information
that is available in numerical form so objectives can be attained in more practical manner.
3.5 Data Collection
Data collection is associated with such as primary and secondary. Within this research,
both methods of data collection are necessary because these helps in achieving aim and
objectives successfully. In order to gather primary information, questionnaire is a selected
instrument because it helps researcher in collecting numerical information within less time and
minimum amount of capital. In order to collect secondary information, there are various sources
such as books, magazines, publication research, articles etc. are used for literature review.
Therefore, both methods of data collection are indispensable in current research for
accomplishing research aim and objectives in successful manner (Charles, Adcock, Robert, and
Collier, David, 2021).
3.6 Sampling
It is regarded as the process in which tiny samples are taken from total population. There
are two methods or techniques of sampling such as probability and non-probability (Seng, 2021).
Both methods of sampling are essential but in this research, probability is a chosen technique
because it helps in selection of larger samples in minimum time period. By using probability
sampling 30 employees of ASOS are selected randomly. There are certain advantages regarding
the selection of probability sampling such as not require maximum time, not require larger
amount of capital, assist in selection of larger sample etc. These are main advantages that helps
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in selection of samples through probability sampling. On the other hand, non-probability is
another sampling that is not valuable within this research because it requires major time.
3.6.1 Identifying Population and Research Site
This research is conducted in the United Kingdom for collecting quantitative data from the
30 employees of ASOS. Main reason behind the selection of employees as they have accurate
knowledge about the business (Nayak and Singh, 2021).
3.7 Cost, access and ethical issues
These are three main methods that are required for conducting primary and secondary
research in successful manner. In order to gather primary and secondary research, there is
requirement of 150$. Access is also regarded as important in conducting primary and secondary
research. For secondary research, there is requirement as researcher has full access to open
company’s website and many other secondary sources (Doss, Rayfield, Burris and Lawver,
2021). For primary research, there will be a requirement of having full access to collect
quantitative data from the employees of ASOS. There are some ethical that are also useful in
completing both primary and secondary research in ethical manner. These are informed consent,
confidentiality and autonomy etc.
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CHAPTER FOUR: FINDINGS
Frequency distribution table
Q.1. According to your perception does innovation and technological
management help the business to improve its performance?
Frequency
a) Yes 20
b) No 5
c) Can't say 5
Q.2. As per your opinion is it beneficial for businesses to include
technology and innovation in their organisational processes?
Frequency
a) Yes 25
b) No 3
c) Can't say 2
Q.3. What is the role of technology and innovation within retail industry? Frequency
a) Examination of inventory needs 6
b) Improvements in supply chain 8
c) Providing quality experience to customers 9
d) Management of ordering prices 7
Q.4. According to you what is the dimension of innovation and technology
within retail industry?
Frequency
a) Adoption of new ideas 8
b) Adding value to existing business offerings 10
c) Creating something better 6
d) Improvement in business processes 6
Q.5. What is the benefit of innovation and technology acquired by ASOS in
their business?
Frequency
9