Examine the concept of innovation at Pizza Hut
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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In present times, organizational innovation is the foundation for developing a new system or product in the business sector market. This is so because it offers immense benefits to entrepreneurial practices. Organizational innovation may be carried out by a new firm, a big organization, and a public or private company. Innovation can be described as something new or a fundamental change to a company. For example in the case of computers, innovation may be in the form of a new software update. Also, the way in which a company is managed may act as a stepping stone in encouraging innovation by the workers. This research paper focuses on how Pizza Hut’s innovation has resulted in its dominance in the pizza sector. Pizza Hut is a subsidiary of Pepsi Co. and the largest Pizza restaurant company in the world with over 19,000 restaurants and delivery outlets in over 100 countries. The company operates in the sale of ready-to-eat pizzas. It has achieved most of its success through innovation, for example where it reinvented pizza to introduce healthier styles of the snack.
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Examine the Concept of Innovation at Pizza Hut: A Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Get in-depth knowledge and understanding of the concept of innovation, and its role in the economic progress of any organization
- Identify how innovation has impacted Pizza Hut’s operations, sales, and profits.
- Appraise and recognize the use of innovation within a business context
1.0 INTRODUCTION
Pizza Hut was founded in 1958 in Wichita, Kansas, and is the largest restaurant chain in the world with over 19,000 restaurants and delivery outlets in over 100 countries. The restaurant chain is a subsidiary of Yum! Brands, Inc., the world’s largest restaurant company. The restaurant chain operates in the sale of traditional pizzas, ready-to-eat chicken, Mexican-style food, salads, breadsticks, extraordinary varieties of pasta, and many more which are popularly known for their amazing taste. It serves more than 1.7 million pizzas every day to its customers worldwide. In addition, the restaurant also offers delivery services, carries out casual dining segments, and many more around the world. It is also well known for its culture to fulfill the objective of satisfying each and every customer.
Innovation can be described as creating something new or a fundamental change to a company. This process cannot be done in a single action but rather consists of numerous interrelated sub-processes such as generating ideas, development of technology, marketing, and producing new products among others which are going to be looked at in detail in the following sections of this essay.
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