Tesco's Innovation Strategies and Performance in the Retail Industry

This report provides an analysis of Tesco's innovation strategies and performance within the retail industry. It examines Tesco's history of innovation, existing innovation performance, and capabilities, highlighting how innovation is crucial for maintaining a strong market position and achieving higher profit margins in a competitive landscape. The report discusses Tesco's ability to adapt to changes, including technological advancements, and its focus on meeting customer demands through innovative products and services. It also explores the company's strategies for maintaining a competitive advantage, such as offering high-quality products at competitive prices and investing in research and development. The report also reviews the retail industry's landscape in 2016, emphasizing the transformative changes and the importance of technology and digital marketing platforms for companies like Tesco. Overall, the report emphasizes the importance of innovation for Tesco's continued success in the retail market.

Managing innovation
in business

EXECUTIVE SUMMARY
Innovation is going to help the organization to have a strong base for them in the market
which is a very essential factor. The competition in the market is increasing which is why there
has to be a strong base for themselves in the market which is going to help the organization be
able to compete. The improvement has to be done in the organization so that the organization can
have a strong base for them and the customers can be satisfied in the market. Innovation is going
to not just get in more customers but also make the organization have higher profit margins and
unique features in the market for a long run. The report has explained how innovation has
become of the most important factor uplifting the set benchmarks among company operations
within retail industry worldwide. Later tesco performance been has also been discussed to bring
upon high factor of innovation among all products worldwide and in operations to innovate

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
Organisation and its innovation history.......................................................................................4
Existing innovation performance and capabilities.......................................................................6
The industry in 2016....................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10
INTRODUCTION
Innovation is a very essential factor in an organization when there is a raise in the
competition which is visible in the market. The activities are many involved in this topic which
needs to be adapted by the organization so that they can have a strong base and improve their
portfolio for a long run in the market. In this report there is a description of the company’s

history of innovation, existing performance and capabilities. There is also a discussion of the
company in the present as to how they are dealing with the innovation in the market due to the
customers or the competition. Innovation among operations within retail industry companies
have been highly recognised as one of the most important factor to gain higher strength and
functional output onto which large operations are based. Tesco has been highly recognised as
one of the biggest retail company in UK industry having wide operations and spread into UK
industry which will gain more market share and also generate higher profits, goodwill among
world paradigms (Furseth and Cuthbertson, 2016).
MAIN BODY
Organisation and its innovation history
Tesco is one of the biggest retail company operating within UK industry having wide
operations and various innovative products,, services for world-wide customers spread within
international markets globally. The retail company is known for high quality standards and best
determinants of innovation among all metrics of performance standards which has been
recognised as one of the biggest perspective of Tesco to run its operations within all deaprtemnts
and to regulate its functional paradigms. Tesco history can be known to be one of one of the
most used retail company operating its business to deliver customers within its supermarket
chains and to develop high synergy of business framework operating all paradigms to develop
new rational services and to put up various development areas. Tesco innovation history is also
known from the various metrics onto which it has achieved large break through for higher profit
infrastructure and to generate stronger goodwill among consumers (Gewald, Wagner and Wolff,
2019). Tesco has emerged from being a small company of retail houseold products to being one
of the biggest supermarket chain in world having spread into various international markets and
having wide innovative portfolio of services and products. Tesco history can also be analysed
with the functional parameters of growth it has achieved among its operations worldwide and the
brand goodwill it has created among products delivery for large optimisation of factors which
company has developed its infrastructure onto. The company started from initially small number
of stores within UK industry and has spread onto wide cultivated global market with various
employees in the workforce, which is programmed under the synergy that high yield large
creativity among all operations. With the changing innovation and functional efficiency onto
demand it has determined to be built strong working innovation and resource the best

infrastructure among all departments to uplift tits quality standards. Tseco has successfully
developed strong place among customers market share which has also been rapidly changing
with shift in infrastructure, new quality parameters and to develop new synergy of working
factors among employees. Tesco history can also be seen with the wide market it has developed
within its business framework with large effective workforce who has been widely active to
develop high synergy of outcomes and bring large synergy from all inputs. Tesco has also built
its infrastructure where high technology is implemented and invested to relative output
functionality and to collectively develop new products portfolio range. The brand has created
vast name for itself into the retail market which is vividly undergoing huge transformation and in
potentially providing various customer oriented services. The company is worldwide known to
be one of the most friendly retail company having wide portfolio serving best quality home
products, large grocery items and always being innovation friendly among all operations (Lin
and Peng, 2018).
Existing innovation performance and capabilities
Tesco has got in a lot of innovations in the organization so that they can have a strong
portfolio in the market which is a very essential factor for the company. The performance level
of the employees has to be improved so that there is a better functioning of the company. The
employees are motivated from time to time so that they can make the organization get a strong
competitive advantage (Lager, 2016). The competition in this industry is also growing in the
country which is why it is very important that Tesco keeps on getting in new ideas which is
going to help the organization to expand and improve their standards. The company’s research
and development department is well trained and skilled so that they can help the organization to
get a place for themselves in the market which is going to make the organization have a long run
in the market. The current trends and demands of the customers have to be met which is why
innovation is the priority for the organization which is making the organization have a large
market share for themselves globally (Guerra Guerra, 2018). The organization has innovated a
lot in the company which is helping the organization have a strong base and the company is
finding it easier for them to function in the market.
It is very important for the company to hire new employees in the organization so that the
company can understand the employees and the employees will be able to help the organization
as well. There are new ideas which can generate in the organization when there are new

employees because they have a different take in situations which can be used by Tesco for a long
run in the market (Kirkman, 2016). The competitors are trying their best in the market to get a
competitive advantage over Tesco but Tesco has a strong strategy which the organization is
using which is making the company have a strong customer base in market. The products of high
quality are being sold for low price which is why the organization is being able to have a better
functioning for them. The financial aspect is also considered by Tesco for innovation so that they
do not invest more than what is required from the organization which is going to help the
company to have a strong base for themselves in the market (Mousavi, 2017).
Tesco is capable of getting in the changes in the organization effectively which is going
to help the company to have a strong base for themselves in the market. It is very important for
the company to have a strong base for themselves in the market so that they have higher profit
margins. The company has a control on the supplies of raw material and experience in this
industry from a long run which can help the company to have a strong base for themselves.
Innovation also requires a strong base in the market and a good and healthy environment in the
organization so that ideas can float in the business. All the employees have a say in innovation so
that the customers can be understood better and the improvement or new products can be made
effectively (Moodie and et.al., 2018). The organization was not able to adapt to changes so easily
but it is due to experience the organization is being able to adapt and make the changes
effectively which is helping the company to maintain their reputation in the market which is a
great achievement for the company.
There are Technological changes like online platforms which are still taking time for the
organization to adapt to because it is new in the company. The employees will take time to match
the demand and the needs of the customers on time. There is a need for the organization to get a
higher productivity and operation factor in the organization so that there is a better functioning
and the organization will be able to function effectively. The online platform has got in a lot of
customers in the organization and is also helping the company to spread the awareness which is
required by the organization to do so that they can have a better functioning (Bibarsov,
Khokholova and Okladnikova, 2017). The leaders will have to motivate the employees so that
they can make them have a stronger base and the organization will be able to achieve their
objectives. There are sales and campaigning by the organization so that there is a better

functioning and the organization has to make sure that they are being able to have a strong base
for themselves.
The industry in 2016
The retail industry from 2016 has gone under wide transformation among its quality
standards, parameters of competition among businesses and in developing strong brand names
among all companies bringing out new parameters of innovation. Tesco Company has been
highly optimistic with various growth factors of innovation within its operations by bringing out
large synergy of functional strength and technology up gradation within all development
fundamentals. Retail industry has been bringing up huge factors of growth with new research
paradigm and to deploy high factor onto which large technology is used among products
standards (Heller, 2017). Tesco is one of the most high developed retail company which has been
showing wide huge changes and technical advancement among all operations within company
business framework. Tesco growth can be impressively seen by the fact that form 2016 the
stakeholders are highly active to bring on the synergy of strong innovation and technology
friendly business where the brand has been coming up with new innovation tools. There has been
large investments by retail company to bring on innovation and strong technicality among all
products, which are actively delivered to be the one of the most factored company with
innovation. Digital marketing platforms has also been known to be one of the most important
asset of company where regulations are highly upgraded with technology and new rational
services to customers to gain large cooperation and deployment. Actively Tesco has been
showing wide relative technology advancement among operations within production of all goods
and services where rational advancement among operations had made it one of the biggest retail
brand in UK industry (Boletsis and Karahasanovic, 2018). The retail sector financial reports has
helped us to analyse how various transformative synergy ahs helped to develop strong brand
name among various competitive brands within retail industry and vastly engulfing with new
technology outcomes and higher working parameters. Tesco has been highly adaptive to various
new changes working onwards to deploy large resource and various other rational keen
functional ethics and also to deploy new rational services based on customer satisfaction which
will enable to generate higher growth factors among all businesses. The company has been
undergoing huge transformation within its infrastructure to deploy high creativity among all

operations and to successfully program out all resources and technology to develop overall
creativity of operations within various parameters to develop new synergy of large operations.
CONCLUSION
From the above report it can be analysed that innovation is a very important factor in
businesses which are functioning in the market. The needs and demands of the customers are
shifting which needs to be fulfilled by the organizations from time to time so that they can
maintain their reputation and brand image in the market. This factor is going to help the
company to grow in the market which is a very essential factor. There are going to be higher
profit margins and globally recognition of the organization which is going to help the company
be able to compete in this competitive market. The report has also concluded that innovation
among technology is one of the most important fundamental aspect which helps to develop
growth factor onto which higher promotion strategies have helped for bringing on higher synergy
and there has also been strong factors of promotional synergy. The report concludes how retail
industry is undergoing huge transformation with large innovation among all resources and
factors of bringing on new changes which will bring on new factors of sales, goodwill on world
parameters (Dodgson, 2017).

REFERENCES
Books and journals
Bibarsov, K.R., Khokholova, G.I. and Okladnikova, D.R., 2017. Conceptual Basics and
Mechanism of Innovation Project Management.
Boletsis, C. and Karahasanovic, A., 2018. Augmented Reality and Virtual Reality for Retail
Innovation. Magma-Tidsskrift for økonomi og ledels. 7. pp.49-59.
Dodgson, M., 2017. Innovation in firms. Oxford Review of Economic Policy, 33(1), pp.85-100.
Furseth, P. I. and Cuthbertson, R., 2016. Innovation in an Advanced Consumer Society. Oxford
University Press.
Gewald, H., Wagner, H. T. and Wolff, B., 2019. The Catalyzing Role of FinTechs for Innovation
Sourcing in Financial Services.
Guerra Guerra, A. ed., 2018. Organizational transformation and managing innovation in the
fourth industrial revolution. IGI Global.
Heller, F., 2017. Technological innovation applied to walmart and tesco’s supply
chain (Doctoral dissertation).
Kirkman, D.M., 2016. A distributed knowledge approach to managing innovation. Journal of
Strategic Innovation and Sustainability. 11(1).
Lager, T., 2016. Managing innovation & technology in the process industries: current practices
and future perspectives. Procedia Engineering. 138(1). pp.459-471.
Lin, C. and Peng, J., 2018. Analysis and Solution of the Problems in the Distribution of Suning
Tesco. Transportation Management, 1(1).
Moodie, J and et.al., 2018. Developing and Managing Innovation Ecosystems in the Circular
Economy: Outline of a Digital Monitoring Tool.
Mousavi, S., 2017. MANAGING INNOVATION FOR SUSTAINABILITY.