Report on Managing Innovations in the Retail Business of M&S

This report provides an in-depth analysis of innovation management within Marks and Spencer's retail business. It begins with an executive summary highlighting key considerations for developing advantages in the workplace, followed by an overview of the organization's innovation history and existing capabilities. The report includes an industry analysis from 2016, discussing the evolution of retail and the importance of adapting to changes. The report also explores strategies such as upgrading innovative capabilities, promoting organizational culture, and building an innovation system. The report further delves into the capabilities needed by companies to build skills and the benefits of implementing innovation, including leadership skills and the importance of learning and development. The report concludes with a discussion of industry trends and predictions for the UK retail sector, including the rise of online payments and the need for retailers to adapt to evolving consumer behavior.

MANAGING
INNOVATIONS IN
BUSINESS

EXECUTIVE SUMMARY
In the present report, managing innovation is considered in retail business of Marks and
Spencer. It consists more essential considerations that develop significant advantages at
workplace of chosen company. With the help of industry and business analysis, it can be stated
that innovations and performances continuously develop successfully in the business
environment. In order to develop more systematic work performance, innovations continuously
develop in creative manner. Within the selected business appropriate functions carried for
continue work that make sure desired results will be accomplish easily. As per innovation and
performances, it can be stated that the cited firm can easily develop their significant advantages
at workplace.
Moreover, report consider discussion on innovation history that would be beneficial to
grow more desired work performance. On the basis of performances and capabilities, it can be
stated that challenges continuously decrease which helps to promote more profits. It will assist to
increase more effective performances at workplace. As per the business development procedure,
it can be stated that retail industry continuously grows with advance tools and techniques. It will
help to assess existing capabilities and quality performances. Moreover, in respect to work in
smooth manner, it can be stated that special innovation done by company in last few years. In
addition to this, Marks and Spencer adopt different strategies which would be beneficial to grow
overall work performances in desired manner. As per company's mission, employees should
perform in better way for development of organisation.
With the help of innovations, Marks and Spencer company has able to foster its growth
and achieve success in the market. As per the desired work performances, manager of the firm
must cooperation with different activities. It will assist to develop significant advantages at
workplace. This is also beneficial to the chosen enterprise to create values that enhance more
performances. Furthermore, at initial stage of the business, innovation must be developed to
promote creativeness. Hence, as per industry analysis Marks and Spencer should develop
strategies for continuous expansion.

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
ORGANISATION AND INDUSTRY OVERVIEW......................................................................1
Organisation and its innovation history......................................................................................1
Organisations existing innovations performances and capabilities............................................2
Industry analysis in 2016............................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Managing innovations in business is considered to be as an important role to attain
creative results. Furthermore, it contains several advantages to make positive work performances
in the company. As per innovation management, process and change consist to make standard
work at workplace (Hristov and Reynolds, 2015).
Present study based on Marks and Spencer which is retail sector business of UK and
operate functions in significant manner. They are also contained several innovations which
assists to make desired work performances. For instance,
For gaining insight information of the present report, it covers organisation and
innovation history that assists to develop more profitability. Furthermore, industry analysis of
2016 has been done in present report for further development.
ORGANISATION AND INDUSTRY OVERVIEW
Organisation and its innovation history
Innovation management includes process to manage functions and operations at initial
stage. In order to generate successful results, it can be stated that there are several elements
encompasses decisions, activities and practices. Organisation innovation consist implementation
of new method that undertaken by businesses, to maintain workplace organisation and external
relations. In the Marks and Innovation history, generally ideas include to change business model
and adapting changes to deliver better products and services. They started their innovations since
1884 in term of textile technology and introduce chilled chicken. Continuous innovation supports
for new innovations and with general merchandise (Carayannis, Sindakis and Walter, 2015). In
2014, the company consist online course that pioneering business model for support and
improvement. They determine businesses together from different areas that share ideas for
development. One of the principle develop for successful innovation with 50 ideas. It makes
suitable plan for innovation strategy. Sofa collection of the company is also important to produce
effective products and services from waste material.
Innovation is the responsibility of all Marks and Spencer people to ensure flow of
complete information. It is essential content in a particular team which bring together and
facilitate to share ideas. Sustainable plan of the company which made for 2020 acted as key
driver for innovation strategy that help to ensure all components and sources. With the help of
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UK ECO factory, collection of services of Marks and Spencer also successfully developed
focuses on customers’ requirements. With the help of food supply chain, everyone gets chance to
explore innovation with inspired people and to learn practice with own role (THINK
INNOVATION: How we’re encouraging innovation across M&S’, 2018).
In food retailer, challenges are continuously increasing in areas of development. In this
context, product safety, integrity and product availability create balanced against waste,
packaging, etc. With the help of recycle, health and well-being are factors which are being
considered. As a result, Marks and Spencer can easily deliver appropriate quality of products. In
a more complex and competitive world, innovation easily deliver delight for their customers.
Hence, issues could be easily solved to make desired work performances. The chosen business
wants to develop their operations as international multi-channel retailer which leads to
sustainability in each sector (Carayannis, Sindakis and Walter, 2015). Goal of facilitating
innovation is to delight and excite every customer with high quality of products and services.
Along with this, business also managed in a line that add core values of inspiration, integrity and
innovation. Values are also influence to run smoothly in chosen business with innovations in
special products and services.
In competitive environment and marketplace, position of the food enterprise specialist
sets to achieve constantly range of quality and innovation. Key technical innovation themes
assist to meet with future requirement in term of improve business opportunities in market.
Furthermore, it leads to industry with product safety and integrity with new and emerging issues
that affect food brand. Ideas on technology also based on innovations that support each theme
successfully. In 2012, the cited firm archive at new location which allowing for education
community to access first time. The company develop their innovations from last 130 years so
that scientific development continuously works. As per the development, customers lives with
changes easily that helps to solve difficulties (What 130 years of M&S history can teach us about
innovation, 2018).
Organisations existing innovations performances and capabilities
Innovation capabilities recognised as the key capabilities that influence success and
survival of business. Retail operations continuously develop with recent trends, challenges and
opportunities. Therefore, it considered successful results in retail industry of Marks and Spencer.
They look ahead for effective functioning which increases significant advantages to gain
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maximum share. Every innovation in retail industry consist designing and experience that
increases values to keep bringing discerning among customers. In order to increase social media
network and mobile commerce, benefits are also associated to advocate brand activities to drive
with successful results. Retailers also recognised their operations to make desired work
performances.
In order to increase great customer service, impressively quick responsiveness,
flexibility, etc. work develop at workplace to make it successful. In order to increase retailing
operations, main goal also promoted with innovation strategy. It helps to boost revenue of the
company in successful way (Hristov and Reynolds, 2015). As a result, Marks and Spencer
consider possible ideas in new ways successfully. Moreover, consideration of performances and
capabilities create culture which assists to encourage unconventional thinking. It helps to open
up ideation and collaborate diverse sets of people. Connection and development is successful
way that assists to create several retail innovations. With the help of innovation, the cited
enterprise moves into new direction. Hence, it consists following concepts:
 Constantly map the customer journey.
 Engage and undergraduate deep customer research.
 Challenges with own conventions to see customer changes.
 Required teams and expertise that enable to learn about environment.
With the help of innovation development, new concepts in business develop continuously
so that it assists to increase creativity and knowledge in successful way. Social and economic
value continuously expanded to make desired work performances (Carayannis, Sindakis and
Walter, 2015). Implementation of mechanisms also create link to foster innovation in widely in
whole community. Marks and Spencer adopted following three strategies to make more desired
work performance: Upgrade innovative capabilities: In this kind of capabilities, the chosen business
continuous increasing radical innovative capabilities in the firm. Hence, it encourages
provide technical and financial support that proposed by firm. Lowering risks and process
of innovation development also go faster so that appropriate technology continuously
develops for firm (Pantano, 2015). Promoting organisational culture: With the help of organisational culture, effectiveness
continuously develops and helps in generating successful results. In this context, desired
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results attain at workplace. Furthermore, it contains capabilities of employees in Marks
and Spencer to perform very well. Consequently, as per organisational culture outcomes
it can be said that position of firm can be easily maintained by facilitating continous
innovations (Frow, Nenonen and Storbacka, 2015).
 Building Innovation system: Innovation system also build to make more desired work
performance in creative manner. With this regard, effectiveness continuously expanded
that helps to attain overall results. In order to building successful innovations, Marks and
Spencer must be ascertained their aims and objectives. It will grow performances
systematically that attain creativeness (Hvass, 2015).
Capabilities that need by companies most evolved to build skills set. Following are
certain benefits to implement innovation performances and capabilities for learning and
development of Marks and Spencer: Capability building remained high strategic priority: In this consideration,
organisational capabilities continuously develop by using different kinds of approaches
(Schmiedel and vom Brocke, 2015). Skill development and learning experience
continuous work to perform in the best manner. Different groups of employees
successfully take part to develop their work as per business objectives with evolving
needs and skills of customers and building approaches.
 Sustain capabilities develop with alignment and measurement of success: In order to
measure success, capabilities c contributes to sustainability and develop more desired
work performances. In this context, fast growing enterprises considered priorities
capabilities that conduct results in systematic manner (Foss and Saebi, 2017).
High priority placed consistent results so that respondents could identify their functional
capabilities in successful way (Clinton and Whisnant, 2019). Leadership skills contributes
positive business performance to operate operations and functions with marketing and sales. It is
most important consideration for overall performances. Marks and Spencer also shifted to focus
on spending capabilities that build with different resources for learning and skill development.
On the basis of results, it can be stated that approaches helps to assess current capabilities and
identify skill gaps as well. There are only 18% respondents support to effective capabilities and
make structured organisation. It influences companies’ ability and design to attain positive
learning outcomes (Paredes, Roese and Johansson, 2018).
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In positive way, it can be stated that there is one way in which organisation can sustain
their capabilities to build corporate academy. It tends to focus on developing functional and
technical skills. Human resource functions own jointly to fosters alignment between learning and
business objectives. On the basis of quantifiable returns, learning investment continuously
develop at workplace. With the help of design and deliver learning capabilities, individual needs
could be addressed. Core principles requires positive learning program with specific strength and
requirements. Experimental learning also develop day to day work with risk free setting.
Business must include alignment with appropriate link to assess business performances (Hristov
and Reynolds, 2015). In effective consideration, sustainability continuously develops to build
strategic business interest.
Industry analysis in 2016
In UK retail sector, there is major transformation develop continuously over the last
several decades. On the basis of the latest trends and predictions, it can be stated that UK
retailers grows their functions from 2016 to give rising payment options. Rising online payments
assist to attract maximum number of customers with update old payment terminals. It assists to
enable and accept more systematic work performance in all over the nation. Payment solution
also equips several towards effective and hardware content. Retailers are continuously trying to
start their more stores which accept additional payment types (Carayannis, Sindakis and Walter,
2015). Furthermore, Marks and Spencer also implement their role to make more desired work.
As a result, traditional method of click and collect programs involves online shopping to make
successful results.
Retailers also experimenting with mobile to facilitate and collect relevant information. It
also enables to company for customers’ attraction and send appropriate notifications in store
pickup. In order to look for mobile streamline, more focus required on present market trends that
assists to develop systematic work performances. The chosen company grows their operations
continuously from 130 years but from 2016 they develop group revenue which is around £10.6.
Furthermore, the company also develop their systematic work performances with new
development. On the basis of traditional collection, it can be stated that the chosen business
easily develops to meet with brands opting for change (Biemans, 2018).
However, in 21st century retail industry faces several challenges which must be reduced
to focus on the high development of discerning consumers. In fashion consideration, the chosen
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business look towards clothing and home ware which brings more annual revenue at workplace.
In UK, retail store continuously develops to improve productivity of the industry so that it is
essential to make fast pace of store closure. In a particular way, orders could be collect to make
proper control with confidence. It helps to underpin retail sales which create appropriate shapes
well. Supply chain of the country also successfully develop so that investment begun with IT
systems into 21st century. Every business of retail industry continuously trying to develop online
sales with better sourcing to unlock profits and increase opportunities as well (Scarborough,
2016)
In international areas, franchise model also expanded successful so that clothing range
also develop continuously with currency development. As a result, long term profitability also
develop continuously which is beneficial to make sustainable retailer. Furthermore, post Brexit
also collapse with value of pound so that it also creates impact on clothing retailers.
Consequently, retailer said that confidence also build which detected with trading conditions
(Marks & Spencer suffers the biggest clothing sales fall in 10 years, 2018). There are several
smaller stores in UK continuously growing which identified for closure. Along with this, there
are several stores exist that confirmed more than 14 shops axed in investigation. Hence, falling
corporate sales levels and customer taking into consideration with closure plans.
CONCLUSION
From the above report, it can be concluded that innovation is most important and
effective consideration to make desired work performances at workplace. In this regard, Marks
and Spencer selected which is successful operates in retail sector business. The company
continuously develop their innovation that assists to work in significant manner. On the basis of
creativity, the chosen enterprise develop their profitability and revenue in several areas. As a
result, the cited firm also attract new customers from global environment.
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REFERENCES
Books and Journals
Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management.
Pearson.
Biemans, W., 2018. Managing innovation within networks. Routledge.
Carayannis, E.G., Sindakis, S. and Walter, C., 2015. Business model innovation as lever of
organizational sustainability. The Journal of Technology Transfer. 40(1). pp.85-104.
Hristov, L. and Reynolds, J., 2015. Perceptions and practices of innovation in retailing:
Challenges of definition and measurement. International Journal of Retail &
Distribution Management. 43(2). pp.126-147.
Paredes, K.M.B., Roese, M.O. and Johansson, U., 2018, June. Retail innovation: perceptions,
management, and challenges of a systematic approach. In ISPIM Innovation Symposium
(pp. 1-15). The International Society for Professional Innovation Management (ISPIM).
Clinton, L. and Whisnant, R., 2019. Business Model Innovations for Sustainability. In Managing
Sustainable Business (pp. 467-507). Springer, Dordrecht.
Foss, N.J. and Saebi, T., 2017. Fifteen years of research on business model innovation: How far
have we come, and where should we go?. Journal of Management. 43(1). pp.200-227.
Schmiedel, T. and vom Brocke, J., 2015. Business process management: Potentials and
challenges of driving innovation. In BPM-Driving Innovation in a Digital World (pp. 3-
15). Springer, Cham.
Hvass, K.K., 2015. Business Model Innovation through Second Hand Retailing. Journal of
Corporate Citizenship. (57).
Frow, P., Nenonen, S. and Storbacka, K., 2015. Managing co‐creation design: A strategic
approach to innovation. British Journal of Management. 26(3). pp.463-483.
Pantano, E. ed., 2015. Successful technological integration for competitive advantage in retail
settings. IGI Global.
Online
THINK INNOVATION: How we’re encouraging innovation across M&S’, 2018. [Online]
Available through: <https://corporate.marksandspencer.com/blog/think-innovation-how-
we-re-encouraging-innovation-across-mands->.
What 130 years of M&S history can teach us about innovation, 2018. [Online] Available
through: <https://about.futurelearn.com/blog/ms-innovation>.
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Marks & Spencer suffers biggest clothing sales fall in 10 years, 2018.
<https://www.theguardian.com/business/2016/jul/07/marks-spencer-suffers-big-fall-in-
clothing-sales>.
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