This document contains DISTINCTION* course work for Unit 1 - Assignment 3 - Learning Aim E. This work has been professionally graded by a top A-Level Professor. The business chosen to complete this coursework on is Tesco but can be a good structural reference for other businesses too.
The documen...
Assignment 3
Learning Aim E
Exploring a Business
Investigate the role and contribution of innovation and enterprise to business success
For the third assignment, you will be writing about enterprise and innovation in an existing
business. You will need to research the role of innovation and enterprise in business success
and the changing market and environment. You will be choosing Tesco and you need to
collect information about the business to complete the following tasks.
Insert a header with your name, the unit name and number and a footer
showing page numbers
Include a bibliography showing all sources
Any copied material must be sourced within your work
Any copied text must be sourced within your work and should be in italics
COVER ALL BULLET POINTS
Your work must be organised in logical sections as below
LINK TO TEXTBOOK
https://www.pearsonschoolsandfecolleges.co.uk/FEAndVocational/
BusinessandEconomics/BTEC/BTECNationalsBusiness2016/Samples/Student-Book-/BTEC-
National-in-Business-Student-Book-Sample-Material-Unit-1-web-ready.pdf
P7 Explore how innovation and enterprise contribute to the success of a business.
Guidance on innovation
1. Define innovation and explain how Tesco’s innovations have helped its success:
● Clubcard (loyalty points)
● Click and collect
● Self-service checkouts
● Free-from food range (allergy free)
● Website and online sales and apps
● PayQwiq digital wallet, making the checkout process easier for customers a
digital wallet app that allows customers to pay with their phone in our shops.
1
, Ethan Hunt Assignment 3 / Learning Aim E
● RFID chips
Guidance on enterprise
2. Define enterprise and explain how Tesco’s ways of being enterprising have helped
its success:
● Tesco bank
● Tesco credit card
● Tesco mobile phone
● Tesco Insurance
● Selling clothing, electricals, petrol
● Tesco overseas stores (Fresh and Easy in the USA)
● Joint venture in China
…………….
M5 Analyse how successful the use of innovation and enterprise has been for a given
business
Guidance
1. Which of the ideas in P7 do you think were successful and which were not – explain your
reasons
Guidance (continued)
2. Explain the benefits and risks associated with innovation and enterprise
● Benefits: improvements to products, processes, services and customer experience,
business growth, development of new and niche markets, offering unique selling
points, improved recognition and reputation, smarter working
● Risks: failing to meet operational and commercial requirements, failing to achieve a
return on investment, cultural problems (resistance to change, unsupported systems
and processes, insufficient support from leadership and management)
………….
D4 Justify the use of innovation and enterprise for a business in relation to its
changing market and environment.
Guidance
2
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