The importance of consolidating product innovation for positive business competition : Snellman Pet Food Company Mush Ltd
Ojo, Hansom (2021)
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022111823061
https://urn.fi/URN:NBN:fi:amk-2022111823061
Tiivistelmä
The purpose of the thesis was to ascertain the importance of consolidating product innovation for positive business competition in a fast-changing competitive business environment. The case study was Snellman pet Food – Mush Ltd, which is a pet food production company. The importance of product innovation in life of a business outfit cannot be overemphasized. A successful product innovation can enable a positive business environment that will lead to positive organizational competence and strong competitiveness in the marketplace. This study was to advance reasons for its relevance as a driver of business performance and an indicator of competitive advantage strategy for positive business growth.
This thesis will also provide a roadmap on how companies can adopt and develop innovativeness in creating awareness of its market environment. The research was embarked strongly on the researcher’s interest in understanding how product innovation and development could impact the competitiveness and success of a firm’s business operations. It will also serve as a reference point on the future development of the researches business initiatives. The adoption of qualitative research process was to obtain necessary theoretical (secondary) knowledge coupled with the primary information obtained through personal and in-depth interview survey conducted with the case study company, Snellman Pet Food – Mush Ltd. This will highlight ways product innovation affects and determines the innovative strides on their product offerings.
The result from the findings proved that product innovation in this company contributed to its success in their business operations, through effective product innovation Mush Ltd has been well positioned in the marketplace. They have continued to break new records in their sales and profits revenue. The findings highlighted the importance of adopting innovations in both product development, providing unique value and choice to consumer, gaining a good portion of the market share and enjoying competitive advantage over their competitors.
This thesis will also provide a roadmap on how companies can adopt and develop innovativeness in creating awareness of its market environment. The research was embarked strongly on the researcher’s interest in understanding how product innovation and development could impact the competitiveness and success of a firm’s business operations. It will also serve as a reference point on the future development of the researches business initiatives. The adoption of qualitative research process was to obtain necessary theoretical (secondary) knowledge coupled with the primary information obtained through personal and in-depth interview survey conducted with the case study company, Snellman Pet Food – Mush Ltd. This will highlight ways product innovation affects and determines the innovative strides on their product offerings.
The result from the findings proved that product innovation in this company contributed to its success in their business operations, through effective product innovation Mush Ltd has been well positioned in the marketplace. They have continued to break new records in their sales and profits revenue. The findings highlighted the importance of adopting innovations in both product development, providing unique value and choice to consumer, gaining a good portion of the market share and enjoying competitive advantage over their competitors.