Innovation Management at Sainsbury's - Case Study Example

Innovation management report about Sainsbury's

Executive Summary

Innovation management supports an organisation to utilise new opportunities and employ them for generating and introducing fresh business growth ideas, processes as well as product development strategies. The report is based on analysing the online challenges and food deflation challenges faced by Sainsbury Plc and recommending strategies to the company using the innovation management theories and tools. It was analysed that decreased sales persuaded the company to either invest in lower prices or accept defeat from its competitors. Such situations resulted in the food price deflation challenges for the company.

Innovation theories in dealing with business challenges sections revealed that innovation theory serves as a vital factor that focuses on being associated with the innovation strategies of the business. The findings of this section revealed that innovation management if associated with the business planning process can serve to be highly profitable for Sainsbury Plc in dealing with its challenges.

Findings gathered from the innovation strategies of the company using innovation management tools explained that the company’s innovation management through product line planning has facilitated the company to deal with food price deflation challenges. Innovative and competitive idea of ensuing value proposition through new pricing strategy that focuses on offering food in lower prices has the potential to increase its sales by reducing food price deflation. Based on the challenges faced by the company the recommendations section highlighted that using innovation strategy such as enlarging its food products range into a wide range of grocery products might help it to diversify its risks by ensuing high profits.

Contents

Introduction4

Challenges5

Innovation Theories in Dealing with Business Challenges7

Sainsbury Plc as Innovation Organisation8

Innovation Strategies of Sainsbury’s9

Technological Innovation9

Product Line Planning10

Idea Management10

Recommendations11

Conclusion12