Business Innovation: Workspace Restyling and Expansion at David Jones

This report explores innovation strategies for David Jones Ltd, focusing on workspace restyling to drive business expansion. It details the organizational profile, goals, and the need for innovation, evaluating solutions such as working with others and social innovation for corporate sustainability. Challenges in innovation, like building an innovative culture and managing connections, are also addressed. The report concludes that innovation is essential for modern business and that the proposed solutions can aid in the company's expansion, highlighting the importance of sustainability, impact, effectiveness, efficiency, and relevance in evaluating these solutions. The report references academic sources to support its analysis and recommendations.

Task 3
Innovation in business

Table of contents
• Introduction
• Description of the workspace
• Organizational profile
• Organizational goals and objectives
• Need of innovation
• Evaluation criterion
• Solutions
• Working with others
• Social innovation for corporate sustainability
• Challenges in the innovation
• Evaluation of the solutions
• Conclusion
• References

Introduction
• Innovation is related with the innovation of new
ideas and creation of dynamic products and
services for improving existing services.
• The presentation aims to develop ideas for a
business organization in order to restyle the
work area.
• Innovation can take place in number of areas
such as social, collaborative spaces and
inspirational features.

Description of the workspace
• David Jones Ltd is an Australian departmental
store headquartered in Sydney, Australia.
• Originated in 1938.
• Products includes cosmetics, fashion, home
wares, electronics, furniture and food.
• Employed around 7200 employees
• Generates A$2.2 billion approximately (in
2016).

Organizational profile
• David Jones has departmental stores in
various locations of Australia.
• The company is profitably surviving in the
market with high revenues.
• Delivers variety of products and services in
compliance with the need of the customer.

Organizational goals and objectives
• Expansion of business by adding innovation in
the existing services.
• To be one of the top departmental stores in
Australia.
• Fulfillment of the corporate social
responsibilities for the sustainable business.

Need of innovation
• To polish the existing products and services
that will bring more customers.
• Innovation is also important for the
organization to beat the cut throat
competition.
• Enhancement of efficiency and productivity.

Evaluation criterion
• sustainability: Innovation will improve the
sustainability of business.
• Impact: The productivity of the organization
will improve.
• Effectiveness: High revenue and positive
market image.
• Efficiency: Employee’s efficiency will improve
• Relevance: Suitable for business expansion

Solutions
• Working with others
• Social innovation for corporate
sustainability

Working with others
• The goal is to delight the customers with continuous
development and improvement by integrity with others.
• It is long term innovation pipeline which will transform the
organization as a whole.
• Partnerships with number of universities, technology
companies and research funders will bring sustainable
innovation in the organization.
• The cost of the innovation is generally high.
• External assistance from technical companies like AAS food
technology, Australia and universities are highly required.

Social innovation for corporate sustainability
• Social innovation always lead to profit
maximization.
• Incorporation of social programs with the
integration of social responsibilities will bring
positive change in the organization.
• Collaboration with social institutions will be
needed for this solution.

Challenges in the innovation
• Building an innovative culture
• Dealing with discontinuity
• Managing connections
• Involvement of externalities