BTEC Business: Exploring Business- Assignment 3. Includes P7, M5 and D4 criteria's. This assignment focuses on investigating the role and contribution of innovation and enterprise towards the success of a business. The business which was studied in the assignment was Tesco Plc. Opening page of th...
Assignment 3: Learning Aim E
Title: How important is innovation and enterprise to today’s businesses?
Aim E- Investigate the role and contribution of innovation and enterprise to business
success.
Criteria: How to achieve the criteria:
E.P7 Explore how innovation and enterprise contributes to the success
of business.
E.M5 Analyse how successful the use of innovation and enterprise has
been for a given business.
E.D4 Justify the use of innovation and enterprise for a business in
relation to its changing market and environment.
Introduction
In this research task, I will explore and investigate the role of enterprise and
innovation contributing to the success of a selected business, that currently exists in
the market. Also, I will analyse how successful the enterprise and innovation has
been for the business and will justify the use of these methods within a changing
market.
The business I will explore is Tesco Plc; a British grocery store that is based within the
food, retail and clothing industry. It was founded by a Jack Cohen in 1919, with it
being visible all over most UK high streets by 1960. Tesco now operates in 13
countries worldwide with more than 6,000 stores worldwide at this moment in time.
Tesco mainly operate in countries such as Czech Republic, Hungary, China and
Thailand as they started rapidly expanding internationally by targeting eastern
Europe and south-east Asia according to Tesco-poly website. Tesco operates in these
counties within particular regions alongside being headquartered in the UK,
moreover it is known under the name The Food Company all over the European
continent. Therefore, this organisation is within the bracket of top supermarkets
across the globe, to as of last year (2020) Tesco was rated as the 33 rd most innovative
UK business - this list was formed from Britain’s Most Admired Companies research
conducted by Management Today.
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