Morphy Richards: Business Innovation and Strategic Analysis Report

This report provides an in-depth analysis of Morphy Richards' innovation strategies within the home appliance sector. It begins with an executive summary and introduction highlighting the company's focus on generating revenue through innovation. The report delves into external and internal factors impacting Morphy Richards, including technological, economic, environmental, and political analyses (PESTLE). It also examines the company's historical innovation, from early irons to future smart appliances. The report explores the stages of innovation, from idea generation to commercialization, and identifies key areas for future innovation. Furthermore, it discusses the importance of stakeholder engagement and the role of consultants in driving innovation capabilities. The report concludes with a discussion of Morphy Richards' strengths, capabilities, and strategic approaches to maintaining its competitive market position and vision for the future.

Managing Innovation in
Business
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EXECUTIVE SUMMARY:
In report growth and innovation of Morphy Richards is explained which deals in
electronic alliances. Company goes through PESTLE analysis for better performance and
strategic analysis and value chain analysis could be done for the detailed information and proper
regulation of business. This report presents the running scenario of country and its future
investment plans. It has always focussed in maintaining its dominance in competitive market. All
strategies like SWOT analysis and approaches are listed in this report. It knows its adjustment in
changing environment with timeline. Many mergers and acquisitions have taken place for its
expansion in various fields. This report shows its Capabilities, performances and future vision.
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Table of Contents
EXECUTIVE SUMMARY:............................................................................................................2
INTRODUCTION...........................................................................................................................4
The Organisations Innovative Requirement 2020 and beyond ............................................6
BUILDING FUTURE INNOVATION CAPABILITIES FOR THE ORGANISATION :...8
CONCLUSION:.............................................................................................................................11
REFERENCES : ...........................................................................................................................12
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INTRODUCTION
Innovation can be termed as a process of process generating revenue from customer when
new ideas, creativity and invention are converted into goods and services. Here Morphy Richards
is the company which deals in the home appliances and has adopted many practices and
strategies related to innovation. This assessment has shown many external and internal factors
like social, technical, economical (Demetrious, Verghese, Stasinopoulos, and Crossin, 2018).
Here Morphy Richards has emphasized organization's capabilities and performances and various
ways of establishing itself in the competitive market. Its collaboration is also highlighted in the
report with other countries. According to this company, innovation is application of fine
solutions that touches existing customer's needs and other market demands. Morphy Richards
company is very particular in selling its home appliances and has established its brand name in
the competitive market. According to it, customer's pain, needs should be clearly before stepping
into any process because that only leads to development of the organization. When ideas are
applied to organizational structure results in development of the company. Company follows
Pestle for its organizational development and uses 4Ps at its maximum level. It is simply a device
used to satisfy customer needs and brings new creation upgrades the level of market. The report
is structured on importance of marketing mix, innovation history, organization's performances
and future vision. Company innovated irons initially from 1950. In 1960, it stated irons with
electricity then in 1970 irons weighted heavy so they were replaced with aluminum. In 2000,
appliances were modified and presently light weight irons are developing. In future smart irons
with technology and electric blankets would be introduced. It is recommended that Morphy
Richards needs to focus in adopting highly advance technology in order make electrical kitchen
items. This is the area which Morphy Richards need to innovate for the future.
The Future Of the Industry and Beyond
Many external factors will influence Morphy Richards future and its innovation. These
factors affect this company at technological level, environmental and economic level till 2020.
Technological Analysis : Today technology is being used in day-to-day life. Either it is business
or any other field every person is dependent on technology. The existence of internet, computer
calculation, ability of computers to create random numbers, 3D technology are common. These
factors have definitely put impact Morphy Richards company. Through websites competition has
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increased. Customers get variety of products and have many options while sitting at home only.
Prices of the products vary time to time as competition is increasing (Koudelková, 2015).
Competitor's find struggle in creating their products if their customers are diverted to other
products. Morphy Richards have to face many challenges regarding this as its rivalries will
increase till 2020. Cybercrime is also there so it has to protect its website from other national and
international hackers.
Economical Analysis : As the household salary will increase people would invest easily in
companies and the public who would get job opportunities would find easy to invest in luxurious
items. This would definitely effect global economy in a positive way. In emerging countries
young consumers will play a significant role over purchases . There would be a worldwide
balance of economic power among countries. Business would change its pace in future due to
digital technology and globalization. The work that could be done in more cheaper way way
through overseas would be preferred. According to survey companies hire those employees who
have scored grades in colleges of engineering, accounting, computers, economics. So major
students of history geography aren't having any demand.
Environmental Analysis : According to environmental analysis, it has been considered as a
strategic tool. Market is also facing changes because of environmental ups and down. Many
decision making process have been evaluated again due to this factor. All factors that ascertain
circumstances in day to day life influence organisation (Guertin, Sweeney and Schmidt, 2015).
Availability of non-renewable resources like natural gas, oil have widely affected the market.
This will definitely create deficiency in future. Supply of major goods will decrease and so their
demands will rise in future. Decrease in fuel prices have increased business. Home appliances
purchase will increase as air conditioners are in high demand among customers.
Political analysis : This is another factor which will affect Morphy Richards in future at large
level. Rules and regulations of government keeps on changing and so the strategies of
organisation is also affected. Increase or decrease in tax is perfect example that never comply
with organisational structure (Goel and Dwivedi, 2015). This decision direct influence business
man. In future, Government interventions would lead to uncertainty in business and effect
demands of customers as well. Some political decisions made by the department directly
economic structure as well. Organisation has to follow various laws and have to go through
political stability and instability as well. Till 2020 it is can't be predicted so well that what would
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be the political environment of UK as government could alter their clauses, rules and regulations
any time.
The Organisations Innovative Requirement 2020 and beyond
Innovation has really improved Morphy Richard's future. Many companies have to go
through various process after new ideas are generated. These ideas then turn into reality by their
true desire and working desire. Addressing each and every question is very important. This
process level goes through many stages :
Stage 1 : Generation of Idea and Mobilization :
This is the starting point of new views and innovative ideas. These ideas are fuelled up
through competition and having a passion to explore new things in market (LIU and LI, 2016).
Morphy Richard is the best example of innovation that can be shown in this assessment. It is an
encouragement to full youth which puts a balance between needs of a person and playfulness.
After the idea is generation, another stage of mobilization comes where the idea is transferred to
logical or physical location.
Stage 2 : Advocacy and then screening
At this stage advantages and disadvantages are discussed related to ideas. Morphy
Richards became successful during evaluation process as the ideas were more in a standard form
and transparent according to authors. It was not important that all ideas burnt fire. Some ideas
smashed during this process. Innovators should know their capabilities as well.
Stage 3 : Experimental
This stage tests sustainability of the product for a period of time. It was crucial to discuss
whether the product will survive or not or whether the customer will go that product or not.
When some customers responded in a positive way then the bank approved their innovation and
encouraged more (Milutinović, Stošić, and Štavljanin, 2018).
Stage 4 : Commercialization
This stage verified that whether innovation is solving their problems or not after
examining their benefits and costs. An invention is known as invention only when it is
commercialised else it just remain an idea.
These stages are converted into reality when:
.
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 Search :
Ideas for innovation come from searching the internal and external environment of the
organisation such as customers, doing research etc. But for the purpose of present study, ideas on
areas to innovate for the future have been provided by the findings from coursework 1. Those
are giving time to staff so that they can innovate new ideas, investing in generating ideas.
Morphy Richard should emphasize on recognizing employees by providing incentives and
flexibility in hours. So these are the basic areas or department where company should focus on.
When the invention goes through strategic alignment i.e. system and technological thinking.
Then strategies are selected and applied. Crowd selection is also done as it is the cheapest way of
bringing input to any organisation.
 Select:
At this stage company can focus on narrowing down the previously identified opportunities and
ensuring that the align with the business strategy. Company can focus on selecting effective
strategy such as marketing techniques that help in making more and more people aware of their
company products.
Innovation needs a strategic planning and for this 'Strategy Map' model can be implemented:
it is a visual tool to communicate and achieve high level business objectives. Its components are:
Financial Perspective: this includes growth of revenue, cost managing and increased profits.
Customer Perspective: Here views of partner are considered and best service is prided to
customer. Quality offering with high warranty of products are focussed.
Internal perspective: This includes main innovation part. Innovation of different product and new
appliances. Customer management and excellence should be there in operational department.
Learning and growth perspective: Then greater accountability and high profile engineering talent
is searched for the innovative products.
 Implement:
At the time of implement company can used effective strategies which help them in successful
implementation. Highly skilled workforce can be considered by the firm who can help in
innovating the new products and services.
 Capture Value :
Finally products are launched in market and profitable customer relationship is maintained. This
is done by satisfying customers in order to capture value from them in return.
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Morphy Richards has its own strengths and capabilities:
1. Morphy Richards has conquered market at wide level over 80 years. Currently it is
emphasizing on kitchen utensils that can be launched easily through investment.
2. It has wide range of manufacturing units for development and research work globally.
3. Its human resource department is strong which deals effectively at every level.
Its capabilities are strategic and it effects organisation in a positive way. If both customers and
company are benefited then only these capabilities are noteworthy. That's why it is necessary to
deliver quality wise product to customers (Milutinović, Stošić and Štavljanin, 2018). It has
unique strategies capabilities, imitable strategies so that they can capture and retain in
competitive market. It has high reputation also.
Figure 1Innovation strategy
(Sources: Safrudin., and Rosemann, 2017)
BUILDING FUTURE INNOVATION CAPABILITIES FOR THE ORGANISATION :
Innovation capabilities involve various stakeholders, suppliers, universities, trade
unions, customers, consultants etc. They either oppose or support its decision which affects the
organisational structure in long term. From the point of view of stake holder's engagement is key
point as they search the environmental and social issues and get the company's future
performance for the improvement of accountability and decision-making. By involving
stakeholder they agree to their decisions and solutions given to complex solutions. The main
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hidden point is that they have an option to influence decision-making process that is already
done. Stakeholders say about the decisions that affect the future environmental life of Morphy
Richards. Their promise is involved with the company (Jones and Rowley, 2011). They seek
profitable input from participants who are operating the functional area. Stakeholders
involvement provide opportunity to line up business activities so that they can meet societal
wants and its upcoming expectations, thereby helps in increasing shareholder value and
sustainability. From their engagement practitioners, can easily realise their benefits and can
know the way of competing in a complex and absurd market. Similarly consultants are also
involved which provide experts advise which can help Morphy Richards in future for its up
gradation.
Consultant can be said a professional expert. Consultants are experienced with wide knowledge
of the related matter. Thee may be two consultants Internal consultant and external consultant.
Internal consultant are appointed within the organization for specified areas or other
departments. While external consultants are temporary. Their advise are charged. Consultants
advise their clients and give knowledge at higher level. Moreover, expenses get controlled by
consulting them. These advises are provided in different forms. Sometimes presentations or
various times reports are presented . In today's digital world consultant has formulated
customized software, mobile devices, online presentations to provide advice to their clients.
Trade Union in future will also affect Morphy Richards at large level. This union is formed to
achieve goals, improving security, increasing safety standards, achieving high wages from the
company. This creates a type of monopoly in the business environment (Ammal and Mathi,
2014). Union appoints some talented workers so that their demands get satisfied on time, cross-
section of workers of workers or general unionism is there for a significant organisation. This
trade union involve work rules, firing, benefits, workplace safety, some work related policies,
procedures related to complaint. They make trade unions just to improvise employment
conditions. Trade union thus deal on behalf of workers and negotiates on employment policies
and daily wages. These negotiation abstract industrial growth and development. Sometimes
conflicts occur between workers and employers which are resolved by trade unions. Similarly,
suppliers can be of different types. They can be wholesaler or distributor. Organisation has to
maintain good relation with these supplier so that they can approach suppliers quickly.
Availability of resources is on right time is very necessary.
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Its part is integral in supply chain management. Morphy Richards have top suppliers and hone
mutual benefits so that consumer needs can be satisfied. Supplier never win if their consumer get
a low quality product or is not completely satisfied. Transferring knowledge in organisation is
very crucial for building a strong organisational structure. This increases its performance and its
reputation is marked in market through successful knowledge transfer. It can be done by
emphasizing on psychological processes in between the units or among firms. Though it is not
easy to attain transfer of knowledge the too organisations have to go through these processes.
This knowledge is managed then by sharing, using and managing the information in a proper
way (Fricker, Wallmüller and Paschen, 2016). Through this Morphy Richards can achieve its
goals in better way. The organisational knowledge includes innovation of various products,
competitive advantage, lesson sharing among employees which leads to continuous improvement
and integration of the organisation. This management of knowledge distinguish it from other
competitive organisations and customers are more attracted and this firm creates a different
image in the mind of consumers. Various colleges and universities offer degree on knowledge
management. They encourage sharing of information which is not sealed up and should be
updated to the relevant companies. It is a type of key role for employees as after action reviews
are viewed .
Morphy Richards has its own organisational structure so that employees doesn't face any
problem while reporting to higher authority. This reduces uncertainty among employees. They
get a comfortable and relaxed environment while working. Organisational structure are of many
types. They can be centralised or decentralised structure. Older structure are with traditional
leadership styles are centralised structure while some start up which follow technology or digital
field are of decentralised type. Another structure is functional structure which is also termed as
bureaucratic organizational structure(Milutinović, Stošić and Štavljanin, 2018). All medium and
small sized companies follow this structure. Here departments are divided into divisions like
sales, operations, marketing etc. Another structure is divisional structure or sub divisional
structure. Morphy Richards follows this structure. It has some leadership kind of structure and
subsidies are provided on services or goods. Then lastly matrix structure appoints employees
from various divisions, areas, departments. An employee has a dual duty in his field.
Every organisation has its own leadership style through which it achieve its goal and objectives.
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This style gives right direction to employees, motivate them, implement plans and decisions in
the company. Total implicit and explicit actions are include in this leadership style. The major
thing that leader discusses with their employees is the subject matter upon which the task has to
be performed. The things which has to be done on the given task. In that decision making
process leader decides the number of employees involved in the project. It depends upon the
organisational structure of the company, whether it is matrix or functional or divisional. Leader
allows the employees of Morphy Richards to take decisions and put their views so that more
ideas and knowledge sharing could be done among them (Herrington and et. al., 2010). There are
various types of leadership styles such as the Autocrat, the participative leader, the transactional
leader and transformational leader. In the Autocrat style input of other employees are not
allowed as the managers do not view the decisions of other employees. Leaders totally enforce
their decisions on other departments. In the Participative style , other team members are also
welcomed for their ideas. They are fully valued and cheered up. This kind of style is appreciated
in every organisation. Morphy Richards follows this style which is very fruitful for it in future.
The company which follows this style can easily face challenges and needed decisions are made
in very short period of time. In Transactional style , leader set some goals and employees have to
follow them accordingly. Some rewards and punishments are fixed for them as they look the
final results of the tasks. They have right to review results and point out employee wherever they
go wrong. This style improves personality of particular employee. In this working skill is also
developed. In transformational style, to attain objectives, good level of communication is
required from management. There is high visibility on goals by enhancing productivity and
hence employees are motivated. In this style there is complete engagement of management.
Morphy Richards raises its capital through crowdfunding also. It would definitely help it in
future in its growth and productivity (George, and Bock, 2011). It is a kind of activity where a
small amount of fund is raised from a huge section of people through internet. It can be said as
crowdsourcing or an another source of generating finance. It is required if funds company faces
shortage of fund or is not able to achieve its desire goal or objective. This runs through three
types of persons i.e. initiator of project, groups who assist the idea and organisation that take this
idea into reality.
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(MORPHY RICHARD's INNOVATIVE IRONS)
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CHANGE MANAGEMENT ISSUES:
Many change management issues occur when any type of change takes place. Gap in
communication occurs between employees and senior team. Then after change in organisation,
no training is offered to new employees. Some changes are unacceptable by the company
members but then too everybody has to follow them (Model, L., 2015). Change management
issue is kind of forefront and every individual should be dealt personally. There are many change
management model. One of them is Lewin's change management model which explains
unfreezing of process, making desirable changes then refreezing the new status according to
feedback.
Limitations and benefits of Lewin change management model
Lewin change management model is very rationale, goal, and plan oriented. It can be said that
changes look effective on paper but then do not make much sense. At the time of implementing
when human feeling and experience can have negative impact.
One of the benefit is that it has easy step to be followed. Along with this transition is easier with
this model. Hence, it can be fit in culture of classical hierarchies.
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Illustration 1: Lewin Change Management Model
(Source:Lewin’s Three-Stage Process of Change, 2017)

Knowledge Management:
It is a process of managing, sharing, creating, using information of an organisation. Many
organisations, NGOs, public institutions gather resources internally through efforts apllied from
knowledge management. It has several dimensions i.e. strategy, organisational culture,
organisational culture, organisational processes, management & leadership, technology and
politics. Challenges of managing knowledge in innovation
Security is one of the challenge for company. To provide right level of security for knowledge
management is key. It is important to keep all the sensitive information away from others. On of
another challenge is to get employees motivated. It is not easy to develop a culture which
embraces learning, changing, sharing and improving which can’t be done with technology.
CONCLUSION:
It is concluded that Morphy Richards is an innovative and developing organisation which
has set some goals for its future growth. In future many appliances will be modified and more
customer will be generated. It has its own capabilities and better performances. It follows
strategies and some approached regarding change management, knowledge management.
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