Question

1.Choose a company/organization and describe organization's actions, how would you rate this organization on its product and process innovations and willingness to adapt?

2 Should the company use innovation as a purposeful strategy? Why or why not?

Answer 1

MIniso is a Japanese retail company that offers low-cost products to its customers along with best designer products and materials. Miniso mainly provides household and consumer goods including kitchenware and cosmetics products. Market size of Miniso is diversified that is expanded to Asia, Europe and America. The company is known for its designer products and marketing strategies. In this short span of time Miniso has been operating in approx 40 countries worlwide. The reason behind its mega success is creativity and product innovation process.

• It would be more beneficial to adapt product and process innovation beyond productivity.
• In this short span of time, the company has a business empire with 1,800 stores in 40 countries, and all the products in this retail chain are affordable and challenging the physical retail businesses.
• Miniso is better known for its Deliver an experienced process that mainly manages to do retail business online.

Miniso has room for improvement and many things to be deeply considered in the field of innovation and creativity. The design and innovation theory of Miniso is widely depended upon the Northen Europe and Japan but the company's main innovated team is from Denmark, Sweden, and Japan. Upgrades of technology, social interaction and consumption patterns, all of them are the challenges and opportunities for the traditional retail era. Under the zone of Innovation and consumer experience, this new retail company has created three major segments that are:

• Consumer
• Products
• Retailing

The company should use Innovation as a purposeful marketing and creative business strategy to further expand its business worldwide. Miniso's store display itself is creative work that demands the spirit of exploration and Innovation. Miniso often promotes its business ethics and Innovation strategy to make flexible decisions and apply those standards for its brand expansion.