Agora A Bangladeshi Largest Super Store Commerce
1.0 BACKGROUND OF THE STUDY:
The MBA program is designed to focus on theoretical and professional development of people open to take up business as a profession as well as service as a career. The course is designed with an excellent combination of theoretical and practical aspects. This assignment provides us to link up their theoretical knowledge into practical fields. In this connection, I was assigned to AGORA Super store Ltd., department for my practical orientation.
Students are required to prepare an assignment under the guidance of supervising teachers on a selected subject matter to highlighting his experience and to conduct an in depth analysis on the subject matter. I have tried my level best to present my experience of the practical orientation in this assignment.1.1 OBJECTIVES OF THE ASSIGNMENT
To present an overview of Agora Super store.
To appraise the Agora Super store Innovations and how store try to adjust with the Innovations.
To identify problems store faces before the innovation.
To suggest suggestions for the development of Store after the innovation.1.2 METHODOLOGY OF THE STUDY
The scope of this assignment is limited to the overall description of the company, its services, and its position in the industry and its marketing strategies. The scope of the study is limited to organizational setup, functions, and performances.(II) PRIMARY DATA WERE COLLECTED
The primary data had been collected in various ways. The different sources were:
By the company's HR division.
Observing various organizational procedures.(III) SECONDARY DATA WERE COLLECTED
From prior research report from the organization
From different books and periodicals related to the store.
From Newspapers and Internet.1.3 LIMITATIONS
Large-scale research was not possible due to time constraints.
Relevant data and document collection were difficult due to the organization confidentiality.
Non-availability of data in a systematic way.EXECUTIVE SUMMARY
This whole report is a detailed study on a Super Store and how this store adopt with the technology, where Bangladeshi Super store called Agora has been chosen as a subject matter. However, this report only concentrates on the Bangladeshi branches. This report will be divided into a few parts and commences with an introduction. An introduction of the Store and the organization will give a brief picture of the analysis. The next part will be important work on academic literature which will help in better understanding of the whole cycle which includes triggers of Innovation, managing change, impact on organization, resistance of Innovations, how to overcome to resistance Innovation and management process.
The next chapter will be on organizational analysis where all the information in academic literature will be related to the organization. There will be a thorough discussion on Technology introduced, steps taken by the management to deal with the resistance to Technology, evaluation of the Technology implemented as well as benefits and losses of the Technology.
Further studies show the methods used (such as feedback forms for customers) to gather information to support the analysis in different ways. At the end of this assignment, there will be conclusions and recommendations for Agora superstore which can be done to improve the organization in respect to the current Innovation process.INTRODUCTION
The technology that was selected by the concerned organization has led to innovation. Technology is the application of knowledge to the practical aims of human life or to the changing and manipulating the human environment. On the other hand, "Innovation is a breakthrough approach or idea that can be completely new or idea that can be completely new or an enhancement to something that already exists, it is a refreshing perspective that will challenge many who just cannot see beyond what their own experience is telling them to think or do. ' (Stephen w. brian, GPE, IBM, Asia pacific, Elearn (2005, pp.2-3) refers to Innovation Management as periods of upheaval when radical action is required if the organization is to survive and prosper. As with any forms of Innovations, it is about moving from the current state to some desired future state.
One of the prime change in our lifetime is the consistent and increasingly application of information & managing technology. Managing technology is the continuous process which deals with technology & replacing traditional private offices with the aid of technology. (Henry, J., Matle, D, 2003, p-266)
Managing innovation is a step by step approach which deals with Innovation both from organization point of view and the individuals who are going to be affected by Innovation. Innovation is an important process for survival in this world. Before bringing any Innovations, it is important to know the causes of Innovations, reactions to Innovations and risks due to Innovations. "The formal quantitative research process should not begin until the problem has been clearly defined." (Zikmund, 2000, p.115).
The Super Store in the Bangladesh has been growing immensely year by year. Goods in Product vary from Store and area wise. However, many Stores had to be closed down due to the economic downturn that hit the world recently. There are many rules and regulation nowadays set by the government in Bangladesh to become the Superstore owner more responsible.
The Largest Bangladeshi Superstore was founded by Mr. M. Hasan Ali. Agora is a Multi Super store that serves every necessary product for the people in Central city in Dhaka, Bangladesh. The first branch was opened a couple of years ago in central City Of Dhaka but now their branch is expanded the other entire metro city in Bangladesh. The main objective of the Super store is to provide high quality of products at a comparative price to the customer.
The key success of the organization is that the management monitors the day to day operation which helps Agora to decide what, when and how Innovations can be introduced in order to provide better quality in all areas from time to time. Agora has crossed milestones, set records and redefined the dine-in experience ever since it started.Types of Innovation:
Products and services - innovation applied to products or services or market related activities. Operational- Innovation that improves the effectiveness and efficiency of core processes and functions.
Business model- innovation that fundamentally.
Business model- Innovation that fundamentally transforms the way a business works or drives revenue.How to be an Innovative Organization:
Create a Strategic Vision.
Establish innovation as a priority.
Create organizational structures that promote collaboration
Establish processes to convert ideas to Innovations
Allocate the resources
Train workforce on Creativity Tools
Measure and Communicate results
Recognize Creative behavior
Reward Innovative results.ACADEMIC LITERATURE
"In Today's world to be a leader in industry you have to be innovative. Companies must be able to look forward at the strategy and know how to bring products to market faster than their competitors. Innovation is the key. It's not just for the technology, it's for the business strategies as well" (Handy, 1999, p.181) indeed, the way things are carried out and coordinated is essential to determine the success and failure of an organization. When organizations do not seem to be profitable, Innovations are introduced in order to have better outcomes. These Innovations might have been triggered from the outside or within the organization.
Tidd et. al (2005, p.205) mentioned that external factors whether threats or opportunities have to be communicated to organizations in order to be innovative and have longevity. Customers seem to have greater effect on businesses as they are the ones who have the purchasing power. Requirements and tastes in customers' selections Innovation from time to time in which organizations have to adapt to keep existing in the market.
Competitors could be another factor which triggers Innovations. In Retail industry especially, customers have various selections of product and failure to follow their expectations will make the organizations lose out to other competitors. Setting up a business means it has to compete with existing competitors as well as potential competitors. Competitors are usually hungry for innovation and different strategies are used in order to be the market leader.
Meanwhile, technology is another drive for Innovation that most organizations are now trying to adapt since it is the key to the new business era. Though technology tends to be obsolete very quickly, it is the fundamental factor of every business nowadays. Technology could speed up processes and work can be done more efficiently.
However there are some factors to consider which makes a organization to technology oriented. The factor are given discussed bellow.
Determined to new ways of operation: It's a difficult transition for the organization to replace the traditional working activities to technology concerned. So there should have some adjustments in terms of organizational cultures, the ways in which employees are working, performance measurement and rewards.
Is the organization informational rather than industrial: This distinction refers to a management philosophy and style rather than to an economic sector or customer base. Here industrial context means the organizational structure and management processes are done through face-to-face incentives and employees remain specific workplaces. On the other hand informational means the activities are done through voice and communications.
Open Culture and Proactive Managers: In this case the organizations have to be dynamic hierarchical, technologically advanced rather than a highly structured , command driven.. Also the managers have to be multifunctional , promoting and supporting a virtual-office initiative right from the start.
Clear links between staffs, functions and time: Technology related organizations also do not depend on the specific locations or types of facilities. Here the concept of the parameters of the are important, such as whether the work executed over the phone, in person, via computer, or all of the above. How much time does the employee need to spend in direct contact with other employees , customers and business contacts? If a critical mass of corporate functions cannot work in an alternative work environment , the potential benefits may be too marginal relative to the required investment and effort.
Proper tools, training, and techniques: To improve the technological oriented organization , all who are involved must be armed with a full set of tools, relevant training and appropriate, flexible administrative support.(Henry, J., Matle, D, 2003, p-268-270)
Government plays an important role in bringing about Innovations as well. Different countries have different rules and regulations that companies need to abide to. Business policies are introduced by the government as to protect consumers and the country too.
Nonetheless, these triggers are also accompanied by internal factors which have made organizations Innovation their ways in conducting business. Employees are the drivers of firms who will run the business. Employers have to make sure they are motivated and keep improving themselves for better productivity. When quality and standard of performance are degrading, management needs to find out the cause of it.
Managing Change: Managing change refers to continuous improvements (CIPs) and creativity to improve both products and processes. The aim is precisely to design and implement a system whose natural equilibrium is constant and change. (Henry, J., Matle, D, 2003, p-230)
Competitiveness and managing change: A clear demonstration pf how one understands the relationship between competition and strategic change, becomes imperative when the literature on management is considered. Any study of the nature of the nature of competition and managing strategic change is obliged therefore to do two things at the outset: first lay out the major approaches to these issues , and second make clear understanding competition and change.(Pettigrew, A., Whipp, R., 1993)Management Processes
Organisations need to check from time to time if they are in line with their objectives. Once visions and objectives have been developed, management team will be able to take actions to move towards them.
These can be answered by going through Innovation management. Ettlie (2006, p.97) refers to strategy making as the process of matching an organisation's internal resources with environmental opportunities and risks to accomplish goals.
Strategic management has three main stages; strategic analysis, strategic choice and strategic implementation (Johnson et al., 2008, p.12). Managers have to handle strategies in various situations as to meet corporate objectives. Strategic analysis could involve SWOT analysis and PEST analysis to assess the options for Innovation.
(Source: Johnson el.al.)
Figure 1: Strategic value
Lynch (2006, p.450) describes SWOT Analysis as the analysis of the strengths and weaknesses present internally in an organisation coupled with the opportunities and threats faced by the organisation externally.
Once the internal and external audits have been analysed, the next step will be strategic choice to identify the various options, evaluate them and selecting the best that fits with their desired goal.
The best option will be implemented and a proper Innovation implementation needs to be planned for. According to Cook et al. (2004, p.58), managing Innovation can be described as consisting of four stages; set up, kick off, delivery and review.
The stages come sequentially. Firstly, it is the set up, which entails letting people know about the Innovations that will be made and motivate them, looking out for the unexpected and assessing the state of the organisation in respect to their readiness to Innovation. Then, the kick off is the final preparation by putting everything in place which might require a project manager and good channels of communication. The delivery involves ensuring people responsible to carry out tasks. The final stage is the review by checking the feedback on how Innovation is affecting all parties involved and if it is yielding the desired results.
According to Elearn (p.95), for Innovation management to be successful, management can conduct various strategies such as democratic, collaboration, participation, direction and coercion.Focus On People: Traits of an innovative Leader:
Create an external focus: -define success in market items
Be a clear thinker: simplify the strategy into specific actions, make decisions and communicate priorities.
Have imagination and courage: takes risk on people and ideas
Energize teams through inclusiveness: Connect with people, build both loyalty and commitment.
Develop expertise in a function or domain: use depth as a source of confident to drive change.3.2 Impacts of Innovations
"It is crucial to know how they handle failure" (Coburn, 2006, p.179)
Organizational Innovations are not easy to implement. Management needs to foresee outcomes of Innovations. Assessment needs to be done in order to find out whether the whole objective has been achieved and how Innovations affect the value chain of an organization. The activities within and around the organization are known as the value chain process. (Porter, 1995)
Figure 2: Value Chain of an Organization
Hayes (2002, p.148) mentioned that people go through personal transition when Innovations are brought into organizations as Innovations are the beginning of something else. Reactions received from employees and customers might vary greatly. In short, everyone involved in the Innovation process is affected by the Innovations made by organizations.
When one alternative is given up for another valuable alternative, it is called opportunity cost (Dibb et.al, 2006, p.395). The value of benefits offered is measured in monetary and non monetary form. Early judgment is made by management to choose the best option.
Nevertheless, Innovations were never made if they were not for organizations' better future. When a product or service meets customers' needs, it happens to be a quality one. A quality product relates with employees good performance and improvement in reputation which will result in increased profits (Heizer and Render, 2004, p.190). These could only be achieved if management has a strategy in managing Innovations. Customers' and employees feedbacks can be taken as a part of evaluation process.
Whether it is beneficial or otherwise, management has to look at the bigger picture to determine the success or failure of Innovations imposed. Tidd et.al (2005, p.96) stated that a failed Innovation process could be a useful information for the next Innovation being enforced.Resistance to Innovations
Human normally resist Innovations simply because they see it as a threat to their normal or familiar system of work, financial position, patterns of status and fairness of their security. Generally, the main reasons for resistance are as follows:-Economic Fears
People are always concerned with any Innovations made by management because it could affect their income and their job security. But most importantly, they fear that either directly or indirectly, Innovation may affect their pay or rewards or they may undertake more responsibility for the same pay. For example, new shift system introduced by management may require employees to work extra hours without any payment adjustment.Inconvenience or Loss of Freedom
According to Mullins (2002, p.823), "if the Innovation is seen as a likely to prove inconvenient, make life more difficult, reduce freedom of action or result in increased control, these will be resistance people usually see Innovation, that it, would make life very difficult".Uncertainty
People are not certain as to whether Innovation will be in their favor and most likely see it as having a negative impact. On promotion for instance, people may resist the uncertainty that whether such Innovation or promotion may demand more responsibility, which may affect their social life.Organizational Resistance
If an organization has been adapted to their environment in which they operate, the whole value chain is already familiar to the organization's structure and policies. The organization as a whole can resist any Innovation which might affect the organization culture which the company has developed.Overcoming Resistance to Innovations
Though, it is difficult to overcome resistance to Innovations, it is crucial to analyze the potential impacts on those whose jobs are affected. It is also important to involve those concerned in the Innovation process, so that they can contribute and make suggestions. This will result in reducing employees' current fear. There must be a clear communication between employers and employees about Innovations implemented, either through written documents or a face-to-face communication with the workers.
According to Pettinger (1996, p.502), resistance to Innovation can be lessened if:
Article name: Agora A Bangladeshi Largest Super Store Commerce essay, research paper, dissertation