Innovation Strategies and Future Trends for Marks & Spencer: A Report

This report provides an executive summary and detailed analysis of innovation within Marks & Spencer (M&S), focusing on the future of the retail industry and M&S's strategic approaches. The report examines the impact of technological advancements, consumer trends such as veganism and online shopping, and challenges like COVID-19. It identifies key innovation requirements for businesses in 2021 and beyond, including cashier-less outlets, artificial intelligence, and a skilled workforce. Furthermore, the report explores how M&S can build its innovation capabilities through leadership, strategic processes, and a supportive organizational culture. It highlights the importance of adapting to market changes and leveraging resources to maintain a competitive edge and achieve long-term success in the retail sector. The report concludes by emphasizing the need for M&S to continually evolve and embrace new technologies and strategies to meet customer demands and drive business growth.

MANAGING INNOVATION IN
BUSINESS

EXECUTIVE SUMMARY
Innovation refer to something unique such as an invention or attempt of developing as
well as introducing new things like a product and service. It brings several benefits for
companies or individuals that has adopted this concept and conducted practices in the context of
it. M&S is one of those supermarkets that has gained benefits by using innovation elements and
conducting activities to do so, which is quite beneficial for its business growth and success. It has
adopted each trend and make modifications within existing plans accordingly. Organization by
taking initiatives to be sustainable and using digital tools has gained competitive edge. With
skilled and talented workforce, firm has taken effective decisions that in return has provided
benefits to it in term of increased profitability, performance level, productivity and customer
base. By adopting requirements related to innovation, it has enhanced the customer satisfaction
and successfully retained them with purchase of quality items and services. Furthermore, from
this study it has been determined that by building innovation abilities for supermarket, it has
obtained in the future growth and success opportunities.

Table of Contents
EXECUTIVE SUMMARY.......................................................................................................................2
INTRODUCTION.....................................................................................................................................3
TASK 1.......................................................................................................................................................3
Future of industry 2021 and beyond........................................................................................................3
Organizations innovation requirements 2021 and beyond.......................................................................5
Building further innovation capabilities for Marks & Spencer................................................................6
CONCLUSION........................................................................................................................................10
REFERENCES........................................................................................................................................11

INTRODUCTION
Innovation is defined as procedure of development and application of new idea that
enhance the way things are complete and what can be gained. It has been conducted by many
organizations into procedure format to create value for customers by applying effective solutions
and methods. It is quite important for management to attempt in the context of managing
innovation within their businesses, which bring several benefits to them in term of increasing
customer base, productivity, building strong brand image in market and maximize profitability.
Innovation management refer to procedure of coming up with and launching new products or
services and establishing a venture. The current assignment will be based on Marks & Spencer,
which falls under the category of leading fashion brands in the United Kingdom. The best thing
about company is that it concentrates on making its customers happy by offering quality goods in
numerous category such as grocery, apparel, fashion, cosmetic, gifts and flowers. Its goal is to
inspire and excite each customer at every turn. The purpose of this study is to explain future of
industry, firm’s innovation needs in 2021 and beyond. It will justify building in the future
innovation abilities for chosen supermarket.
TASK 1
Future of industry 2021 and beyond
Retail industry is one of those profitable and productive sectors in the that has gained a
lot of success. It encompasses varied forms of ventures like supermarkets, chain outlets,
department stores, especially variety of outlets, mail order, franchise and online merchants. The
future of this sector due to certain factors may get affected. For example, innovations or
innovative concepts may enhance the productivity of industry even better than last few years. In
2021, organizations that has operated under this sector may experience the influence of varied
things that are discussed below;
Overview of retail industry future innovations-
There are several things that will happen in the future that may put positive impact on
sector 2021 and beyond it (7 Technological Advancements in the Retail Industry to Make You
Say Wow, 2021). For example, robotic innovation is one of those in the future concepts that
allow management to give memorable experience to their target customers by serving their

services and offering items through robots totally, where no need for human resource may
require. This further innovation may enhance sector productivity and operational efficiency
which made them capable to serve on time, without making any kind of mistake. Furthermore,
along with this home delivery through drone is another future innovation examples that may
retail industry adopt and accept. Instead of hiring workers, a firm in 2021 and beyond may buy a
drone and feed customer address in it, which drive drone towards home delivery process.
Trends-
Customers desires is the key to this well developed and established industry in the 2021
and beyond, because they adopt certain trends and sector may also consider to grow each. In
term of trends, veganism is one of those newly habits that people in recent time has been
adopted and continue their life with it. It may put positive impact on M&S success in 2021 and
beyond when management may take initiative to consider this trend and make inventory full of
vegan products, which its customers tend to purchase recently and in the future as well (12
Innovative Retail Trends to Watch, 2021). Online shopping, another trend that also positively
influence retain as well as fashion industry in which chosen and many organizations operated. As
it offers grocery and cloths to target customers. These two trends may change the whole sector
when it may adopt appropriately.
Main challenges-
COVID-19 is the biggest challenge that affected whole industry in negative manner and
decreased its productivity as well as profits margin. It impacts the ways how companies have
operated their business under this sector. It decreased the sales of cloths, flower, gifts and other
items that people usually purchase which are available in sector. The future of industry 2021 and
beyond may get affect due to another challenge as well and that is emerging demand for
innovation or innovative products in any category that it may offer and produce especially for
wide customer base. It may put a lot of pressure on management to continually consider
consumers demand and needs that get changed according to current market trends.

Organizations innovation requirements 2021 and beyond
Companies requirements related to innovation in 2021 and beyond may open new growth
and success chances for their businesses within retail industry. Below the necessities of firms
mention below;
Cashier-less outlets-
Each organization may require to have cashier less stores, which is a new retail trend that
enhance the shopping experience of customers even better than before (The cashierless store
trend, 2021). It is the new innovative concept in industry that companies may tend to adopt in
2021 and beyond, in order to increase their productivity and profitability. According to this
technology and creative theme, customers may go into a physical outlet, select what they want
and walk out of a company. There is no need to stay in a line and goes through procedure of
scanning each product. Buyers may pay for purchasing automatically and with the help of
wireless digital wallets that connect to store application on their smartphones. These kinds of
stores or technologies may enable a company to create innovative environment at workplace.
Artificial intelligence-
It is another requirement that a company tent to obtain in term of innovation within
existing business place, which help to determine patters as well as behaviors. It also helps to
detects which item are being eliminated from supermarket or store shelves that people may do
not prefer to buy. It supports in term of skeletal tracking to links the appropriate goods to right
buyer and their approach of payment according to purchase and that may be an unpredicted
innovation which no other companies may ever adopt and implement into workplace ever before.
This kind of creation may contribute to enhance customer satisfaction and drive their attention
towards conducting word of mouth promotion. Firms also require artificial intelligence to create
innovation at workplace.
Skilled and experienced workforce-
It is quite important to have effective teams at workplace in which each candidate it
capable to develop innovative concepts and made their contribution to do so in effective manner
which is important and beneficial for firm to meet their challenges (Gupta, Kusi-Sarpong and
Rezaei, 2020). With knowledgeable people, companies may accept the challenge to be

competitive, because they may utilize skills and abilities of each employee in the context of
innovating new service and products and to reach these to target market. This resource is
required from companies to develop their innovation capabilities which enable them to
successfully meet key issues and overcome each in systematic way.
Effective leadership and management of technology-
Innovation is not an easy task to conduct into practical way, in order to do so companies
may need appropriate leadership style and efficient management of advance technologies such as
AI, Robotics, etc. which maintain operational efficiency and increase it even better than fast few
years (Shafi and et.al., 2020). This requirement may continue in 2021 and beyond it, because
without a leadership style and effective administration of new tools or resources, firms may
unable to grow and succeed in the world of corporate where business environment may get
impact due to several forces whether internal or external.
Building further innovation capabilities for Marks & Spencer
In order to keep business competitive and achieve set aims as well as objectives, it is
quite significant for M&S to build future creation capabilities. In the world of business, there are
varied forms of approaches and techniques available that help building in the future abilities for
supermarket.
Marks & Spencer capabilities and its readiness for innovation-
Organizational capability may contribute to adopt and create innovative things that in
turn may provide unexpected outcomes. Below some abilities mention in regard to supermarket.
Leadership-
In term of valuable element, leadership style may help to build capability of M&S, which
made leader strong in term of creating, managing and introducing future innovative concept that
may in form of an item or service. It made firm ready to accept every situation completely and
stronger to overcome their negative affect on venture as well as management practices
(Novitasari and et.al., 2020). It is a kind of procedure that influence individual person to be
productive and conduct their activities accordingly, which enhance ability of Marks and Spencer
more than its rivals towards conducting future innovation attempts. Leadership is defined as an

art of encouraging and inspiring a group of individual to act towards aim achieving. This element
may drive the attention of individual worker towards contributing creative idea that firm may
implement practically to gain future success and be competitive further against competitors that
has operated in same industry with key resources and capabilities to achieve their dreams. This
asset of M&S enable candidates to build future innovation in term of obtaining appropriate
directions, and guidance, which is valuable and beneficial too for any firm like chosen brand.
Leadership made leader capable to build effective and efficient groups at workplace.
Procedures-
It is not possible to innovate some new item or service in Marks & Spencer, when
management may do not develop effective plan and processes. They may take initiative to
conduct a group meeting and make discussion with teams for building future innovation
competencies for M&S. With this practice, they may enhance organizational capability to
develop innovative idea and continue business activities with this, which bring advantages to
give tough competitive to key competitors and to increase its profits margin (Ortiz, Donate and
Guadamillas, 2021). Manager and leader may take action to develop appropriate plan, through
which they may allow firm to become an innovative brand forever and gain benefits with it for
longer. It is one of those stages that enable firm to get ready for any challenge that may occur
during process of aim achievements. In term of procedure, management may take judgment to
develop strategic strategies, which enhance organizational abilities and permit to gain future
growth opportunities that may exist within retail industry in recent time and further years as well.
There are many decisions that manager may take and conduct into processes form that is
beneficial for M&S and its stakeholders such as workers, investors and partners.
Culture-
The process of building in the future creation competencies for M&S encompasses key
components in which innovative organizational culture development at workplace, is included.
For example, manager and leader may efforts to create an innovative business environment at
work area which drive the attempts and practices of workers towards become a creative person
who is able to support in future innovation development decisions by sharing their ideas,
opinions and thoughts with everyone (Khan and et.al., 2020). Organizational culture plays vital
role in success of chosen company as it may define as important driver of business innovation. It

may actively boost morale of workers and motivates them to flow through it. By creating a
culture of innovation in workplace, management may find better ways to innovate numerous
services and variety of quality items that customers recently and in the future prefer to buy in
exchange of money. This kind of culture is creating in M&S when leader may contribute to do in
term of making workers free to communication and collaborate with each other, which allow
them to develop innovative idea and support everyone to make it better by taking initiatives to
conduct into actual way.
Selection of experience candidates-
In term of process, leader and human resource management may collaborate with each
other and take initiative to hire new as well as experience workers who may enable to build
future innovation capability for M&S and contribute to introduce innovative item into market,
which allow firm to build its strong market image from national to international level (Adegbite
and et.al., 2020). It is as important as above actions and decisions that manager may take to build
effective and beneficial future innovation capabilities of Marks & Spencer. This procedure may
enable a leader to get ready teams of talented and efficient candidates that may have power to
innovate new service and item that people prefer to purchase instead of their alternatives, which
in return may maximize profits margin, productivity and generate revenue to brand more than
other organizations that exist within similar industry or market. Employees selection and
recruitment may lead to enhance operational efficiency.
Continuous professional development-
Just like above capabilities and readiness for innovation in the future, administration
within M&S may take decision to continually develop skills and knowledge of existing as well
as new workers by providing appropriate training and development to each, because it enable
them to keep update and made themselves capable to accepts and develop future innovation
(Wotschack, 2020). Continuous development of workers may enable firm to offer innovative or
unique products to target customers which enhance their satisfaction level and provide them a
value with better features, quality and satisfactory quality. There are numerous advantages and
valuable benefits that M&S may get through this process and their implementation within
organizational structure where many people perform together and individually to achieve
strategic goals and business objectives that is really any important accountability which each

candidate may attempt to fulfill in ethical and systematic manner. It helps to strengthen
organizational capability better than last years or months.
Competitive position of M&S-
Marks and Spencer within the world of retail may operate in a quite competitive
environment and there are varied factors that may affect its business in the outside atmosphere.
In term of competitive rank, supermarket may sustain at sixth position by offering a range of
items category to customers according to their needs and expectations and by adding more values
within these with the help of using innovation concept. It is fact that organization globally
renowned department outlet has always sold quality food alongside is home wares and fashion. It
may lead to reach at top position in market, when firm may adopt the best style of leadership and
other resources that enhance its capability and allow to grow even better. There are variety of
approaches and methods available in competitive business world, which supermarket may utilize
to be competitive and give tough competition to its key rivals such as TESCO, ASDA,
Sainsbury, etc.
Source of funding-
When firm take initiative to innovative something new and unique in the future and
enhance its capability to do so, then it may require to have good financial base which allow firm
to obtain desire outcomes and give them power to accept any form of innovation (Xu,
Qamruzzaman and Adow, 2021). Without choosing appropriate and trustable source of funding,
it is impossible to build future innovation and capability of organization. So it is the fact that firm
may have to choose and then use specific source of funding such as bank loan. It is one of those
sources through which management may apply for appropriate amount of loan from the
trustworthy bank and drive their efforts to become an innovator, which is quite essential to do in
term of increasing sales and profitability. Furthermore, there are more options accessible in
market that firm may chose and utilize in the future for purpose of good sum of money, which it
may use to enhance its competitive position and achieve goals.
Adoption of capabilities and path to show stages to prepare for readiness-
In term of competencies, Marks & Spencer and its management may adapt, a leadership
style, effective teams of players, funding source, management of technology and other abilities

by developing a plan and strategy which enable them to do so, systematically and appropriately.
It may get their venture, management and other stakeholders ready to develop future innovation
by taking steps towards it, in term of using situational and transformational leadership style that
may contribute to create innovative environment at workplace and allow individual workers to
take part in this process that is beneficial and important too. In term of road map, firm may take
initiative to use leadership style and then build productive teams with the help of leaders.
CONCLUSION
From above analysis, it has been concluded that by considering and adopting future
trends, innovative concepts and methods, industry has grown continually and rapidly without
facing challenges that may affect business progress negatively. The future of sector has
brightened day by day because it has conducted practices and activities according to current and
future market trends. It has overcome the negative impact of each challenge by taking initiative
to developed effective approaches, which in return increase customer base that is quite important
to enhance rapidly. By taking decisions to accepts creative ideas management has gained
competitive edge in term of increased their sales. Furthermore, by summing up above discussion,
it has been summarized that by conducting practices to implement innovation requirements,
companies have successfully achieved their set aims and objectives. It has gained the businesses
growth and success chances by accepting and making modifications within existing strategic
management activities. It has been analyzed that by using artificial intelligence in term of robots,
companies have increased their ventures and customer’s services productivity and performance
that is an amazing attempt which they made to keep sustainable, competitive and operated
businesses within retail industry.
Moreover, from above discussions it has been evaluated that by choosing the best
leadership styles, leaders within organization has supported individual person to perform
extremely energetic and productively that has enabled them to reach at desire outcomes and
obtained unexpected benefits which play vital role in building further innovation abilities for
firm that has operated within retail industry with existing players that has also taken initiatives to
achieve their strategic and set goals to remain competitive against other brands like chosen one.
By building strong and effective teams at workplace management has made appropriate
preparation for the development and introduction of further innovation in the world of business.

REFERENCES
Book and Journals
Adegbite, W.M. and et.al., 2020. Managing Sustainable Innovation in the Organisation: The
Role of Workers’ Autonomy and Knowledge Management. Nile Journal of Business and
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Gupta, H., Kusi-Sarpong, S. and Rezaei, J., 2020. Barriers and overcoming strategies to supply
chain sustainability innovation. Resources, Conservation and Recycling. 161. p.104819.
Khan, W.A. and et.al., 2020. The effect of entrepreneurial orientation and organisational culture
on firm performance: The mediating role of innovation. International Journal of
Innovation, Creativity and Change. 13(3). pp.652-677.
Novitasari, D. and et.al., 2020. Authentic Leadership and Innovation: What is the Role of
Psychological Capital?. International Journal of Social and Management Studies. 1(1).
pp.1-21.
Ortiz, B., Donate, M.J. and Guadamillas, F., 2021. Intra-organizational social capital and product
innovation: the mediating role of realized absorptive capacity. Frontiers in Psychology.
11. p.3859.
Shafi, M. and et.al., 2020. The effects of transformational leadership on employee creativity:
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arrangements at the company and sectoral level. British Journal of Industrial Relations.
58(3). pp.587-616.
Xu, S., Qamruzzaman, M. and Adow, A.H., 2021. Is financial innovation bestowed or a curse for
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Online
12 Innovative Retail Trends to Watch. 2021. [Online]. Available through: <
https://tinuiti.com/blog/ecommerce/retail-trends-emerging/ >
7 Technological Advancements in the Retail Industry to Make You Say Wow. 2021. [Online].
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