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MGMT20132 Innovation and Sustainable Business Development-Strategic Plan

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Identify for whom and/or for which organisation you will be writing the business case. (For instance, you might be pitching to an investor or the management of a company).The public eye (i.e. there is a lot of publicly available information about this person/company).


Identify an innovation that your group believes could be reasonably discussed as the subject of the business case. The innovation you choose should have the potential to be developed sustainably over a commercially viable period of time. (It can be an innovation your team came up with yourselves or something you learned about by reading or watching TV, etc.) Consider and evaluate the possible business models that could be used to realise the opportunities inherent in the innovation.


Develop the business case document based on the business template provided in class. This will require you to write a business case with five separate sections:

1) The problem the innovation can solve

2) Benefits of the innovation

3) Strategic response or plan

4) Project options analysis

5) Delivery of the recommended solution.

Answer:


The objective of this study is to understand about the relevance of sustainable development and innovation in business organization. Nowadays, the idea of sustainability has gained the wider concept of all the corporate. Most of the businesses are operating and functioning according to the sustainability that is must in their companies (Piekkari, Plakoyiannaki, and Welch, 2010). The aim of this report is to understand the innovation that Coca Cola Company is bringing up in their company due to the sustainability factors.

The companies are now focused to achieve the goals and objectives of their company without compromising the needs and wants of the future generation. This is the major role played by the sustainable innovation in Coca Cola Company (Moussa, and Touzani, 2010). In order to understand the innovation and sustainable development of the company, the report has chosen Coca Cola Company. The objective of the business case report is to develop the ability to convincingly argue about the business case of Coca Cola Company which is a key function of business development. In order to complete the business case report successfully there is a need to analyze and about the innovation and sustainable development take place in this company.

An overview of the company coca cola

The Coca Cola Company is a global business organization that is the leading brand of food and beverages items. The company is a multinational organization that operates and function is a local scale of every country where business is possible. The strength of this company is the local as well as the global reach of the company.  The delivery systems and the logistics management of this company are very good due to which the company is enjoying the lading place in the markets of all over the world. The company has captured the entire market food and beverages industry. It has more than 250 bottling plants across the world (Yoo, Lee, and Bai, 2011).

The company was initiated in 1886 by a pharmacist named as John Pemberton Smyth in Atlanta Georgia. The company is a private and individual brand and the products are coca cola and sprite that are the major products of the company. The company uses customer purchasing behavior and competitors in management of the sustainable and innovation of the company. The company has produced many types of flavoreddrinks that are very popular in across the world. The company employs more than 31000 people around the world (Myung, McClaren, and Li, 2012). It delivers syrups, beverages and concentrated drinks. The drinks are available at many outlets like McDonalds, burger king, KFC, pizza hut, dominos pizza, etc. there are various types of drinks available like sprite, Fanta, Dr Pepper, coke, and other beverages brands.  There are thousands of customers who visit the food stores and brands on the daily basis and the coke provide them a delight and good feel with every serve of the same.

Identification of an innovation

The Identification of the process of innovation help to believe that there are various types of changes take place in Coca Cola Company in past years. It continuously takes place keeping sustainability in mind (Kumar, 2015). The innovation chosen have the potential to be developed sustainably over a commercially viable period of time. The type of innovation are related to the company directly and they are extracted for various types of research take place using social media, internet, television, news, etc. the company is also for the sustainable development in internal and external operations of the same.  The company colca cola and its bottling partners areproducing more than 3000 products for the partners across the world which is an impressive amount of the production and its supply chain management. They are also making further plans with their suppliers to increase the number for the same (Gordon, 2011). Their new and innovative way of thinking anddeveloping strategies keeping the perspective of sustainability in their mind is growing high day by day.

To combat with these issues the company has imitated many programs. They have started developingstrategies that road range the sustainability in the business organization.  The name of the policy is livingpositively that has integrated with the entire business span of the company. It covers the environmental, community workplace and marketplace initiatives related to the products and services of the company. The company has also involved the partners like the stakeholders, suppliers, customers in addition so that the policies can be promoted and spread in the entire organisation and related person of the company (Çal??kan, and Callon, 2010).

The directors of the company mentioned that it is a world where the resources are declining on a fast scale and they are in the stressed condition. In such situation it is the responsibility of the companies to take are for the future generation and bring innovation so that sustainability can be promoted in the businessorganizations.

It also helps the company to have competitive advantage as it is one of the most liked factors by the society and the customers who like the brand the coca cola company has established many bold goals that are related to the innovation in the sustainability of the company (Abrahams, 2010).  They are trying to remove the carbon footprints by reduction if the pollution takes place at the time of production.

The company has invested a huge amount in the sustainableinnovation that is introduction of plant bottle that is a bio plastic bottle that is more than 30 % of plat material and 100 % recyclable.  Many of the drinks ofCoca Cola Company are natural and contain 0 % calorieand sweetener. They have eliminated the use of hydroflurocarbon gases in the production of soft drinks. The company has started to involve inthe customers and environmental issues. They are trying to create the good image I the eyes of customers where the economy is challenging and competition is high. It is the fact that the company coca cola has been challenged many times relatedto thehealthand environmental issues (Thornton, Cameron, McNaughton, Worsley, and Crawford, 2012). It has grown the concern related to the environment and ethical issues faced by the company in past. But now with the sustainable development, the company has come up with many eco friendly policies that will help the company to get back the same reputation in the markets of food and beverages.

The Evaluation of the possible business models that could be used to realize the opportunities inherent in the innovation

The trends in Coca Cola Company related to the innovation tale place in four majorareasthat is products, marketing, sustainability and culture of the company. These are the major areas where the company is trying to bring innovation and that are sustainable innovation. The business model of coca cola says that the company is very much into plant bottling which is one of the innovative steps taken by the company. They have invested a huge amount in the same. The changes in the bottles is going to increase the cost of the production for the company but sill the company is bearing that cots by its own as they want to promotesustainability and innovation. In order to manage this, the company in increasing the production and sales so that the economy on scale canbeachieved and the cost of production goes down (Battini, Boysen, and Emde, 2013). It is also going to be good for the plants as the use of plastic will decrease  that increase the  resources  maintains the pollution.  

The plant bottle is the first plastics bottle that is form the renewable sources and that can be easily recycled with the Pet plastic bottles that exist in the recycling infrastructure (Gummesson, Lusch, and Vargo, 2010). The company has established their own plants to recycle the bottles and re use the, in many countries, the company as outsource the same work that is helping them to move forward to the success. 

There are four major innovations that the company will try to bring by the end of 2020 that is water, packaging, agriculture and energy and climate. It is under the policy of go green coca cola Company.  In order to achieve the same, the company will start the projects and they have already working and research in these major fields (Moussa, and Touzani, 2010). 

Business case document

Development of the business case document based on the business template provided in class. This will require us to research on a business case with five separate sections:

The problem the innovation can solve

There are various types of problems that can be solved by the introduction of innovation in the company. According to this, the future of the company is dependent on innovation and sustainability (Fillis, 2011).  It is very relevant to start lean and be resourceful and agile. The innovation start form business model and innovation.  There

Benefits of the innovation

The benefits of innovation are easily visible in the company coca cola as it is the leading company. It helps in resilience instead of strength and helps the company to have competitive advantage. Theinnovation in the designs helps the company to take the work less complex (Borden, Coles, and Shaw, 2017). It promotes the positive part of the company to its customers and competitors.  Innovation in the taste will help the company to expand the variety of the food and beverages of the brand.

Strategic response or plan

The structure plans of the company is to bring the  changes in the four major areas that is packaging, promotion, production ,bottling and ethical factors (Mintz, and Currim, 2013). This will help the company to resolve all the challenges and issues that were faced by the same in the past. 

Project options analysis

There are various types of projects started by coca cola Company to check the feasibility of growth anddevelopment in the company for the future. For this, the company evaluates the performance and productivity of the employees and the company. They compare the data information of past month to the present month (Leonidou, and Leonidou, 2011). They identify the changes that take place in the organization after introduction of sustainable developmental and innovative practices.

Conclusion

The company is one of the strongest brands in the world.  Still there are lots of challenges and issues faced by this company related to the sustainability and ethical issues. To get rid of all these problems, the company has brought innovative practices in the company related to the same (Ordanini, and Parasuraman, 2011). The company is trying to diversify the business operations and functions so that they can easily apply the policies and strategies in the overall management and business of the company. 

References

Abrahams, C. (2010). Transforming the region: supermarkets and the local food economy. African Affairs, 109(434), 115-134.

Battini, D., Boysen, N. and Emde, S., 2013. Just-in-Time supermarkets for part supply in the automobile industry. Journal of Management Control, 24(2), pp.209-217.

Borden, D.S., Coles, T. and Shaw, G., 2017. Social marketing, sustainable tourism, and small/medium size tourism enterprises: challenges and opportunities for changing guest behaviour. Journal of Sustainable Tourism, pp.1-18.

Çal??kan, K. and Callon, M., 2010. Economization, part 2: a research programme for the study of markets. Economy and Society, 39(1), pp.1-32.

Fillis, I., 2011. The evolution and development of arts marketing research. Arts Marketing: An International Journal, 1(1), pp.11-25.

Gordon, R., 2011. Critical social marketing: definition, application and domain. Journal of Social Marketing, 1(2), pp.82-99.

Gummesson, E., Lusch, R.F. and Vargo, S.L., 2010. Transitioning from service management to service-dominant logic: Observations and recommendations. International Journal of Quality and Service Sciences, 2(1), pp.8-22.

Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look out for. Journal of Marketing, 79(1), pp.1-9.

Leonidou, C.N. and Leonidou, L.C., 2011. Research into environmental marketing/management: a bibliographic analysis. European Journal of Marketing, 45(1/2), pp.68-103.

Mintz, O. and Currim, I.S., 2013. What drives managerial use of marketing and financial metrics and does metric use affect performance of marketing-mix activities?. Journal of Marketing, 77(2), pp.17-40.

Moussa, S. and Touzani, M., 2010.Ranking marketing journals using the Google Scholar-based hg-index. Journal of Informetrics, 4(1), pp.107-117.

Moussa, S. and Touzani, M., 2010.Ranking marketing journals using the Google Scholar-based hg-index. Journal of Informetrics, 4(1), pp.107-117.

Myung, E., McClaren, A. and Li, L., 2012. Environmentally related research in scholarly hospitality journals: Current status and future opportunities. International Journal of Hospitality Management, 31(4), pp.1264-1275.

Ordanini, A. and Parasuraman, A., 2011. Service innovation viewed through a service-dominant logic lens: a conceptual framework and empirical analysis. Journal of Service Research, 14(1), pp.3-23.

Piekkari, R., Plakoyiannaki, E. and Welch, C., 2010. ‘Good ‘case research in industrial marketing: Insights from research practice. Industrial Marketing Management, 39(1), pp.109-117.

Thornton, L.E., Cameron, A.J., McNaughton, S.A., Worsley, A. and Crawford, D.A., 2012. The availability of snack food displays that may trigger impulse purchases in Melbourne supermarkets. BMC Public Health, 12(1), p.194.

Yoo, M., Lee, S. and Bai, B., 2011. Hospitality marketing research from 2000 to 2009: topics, methods, and trends. International Journal of Contemporary Hospitality Management, 23(4), pp.517-532.

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