Avoca Handweavers Ltd will be our business case over the duration of the Business Innovation Programme in the Ryan Academy. A successful retail brand like Avoca, with all the incremental changes that have occurred in the business model to date should provide us with a rich source of material. This will be the educational vehicle we use over 3 different assignments.
The first assignment allows us to hone our skills around extracting key data from secondary research sources, baking a further layer of innovation into the business, and presenting our key findings in a meaningful way.
Our team, made up of Evelyn Meenaghan, Shay Clarke, Denise Boden and myself Ronan Quinn initially spent time clarifying the scope of the business during the Q&A sessions with Naoimh O’Reilly, our Marketing in a Digital Era Lecturer and Geraldine Lavin who delivers Managing the Innovation Organisation module.
The relentless commitment to practical application meant tools and techniques were explained and shortly afterwards we were tasked with completing templates to kick start the process within the team.
- Understanding your Organisation
- Understanding the Business Sector
- Developing your Market Scanning Skills
These templates gave a helpful framework around the tasks of understanding the business sector they were in; how the Avoca organisation functions, and helped develop our marketing scanning skills. By the end of the session, we had a better understanding of the business and what steps we need to take in order to complete our research effectively and efficiently.
If you haven’t heard of Avoca Handweavers Ltd, the best way to describe the company is as a retail business. Avoca designs and manufactures its own clothing, food and home furnishings from its Co. Wicklow base in Ireland and it has 11 retail stores and cafes.
They are building a lifestyle brand within the retail sector. Pretax profits jumped by 76% in the year to date with the shops division proving to be the stellar performer.
We’ll be posting more information in future blog posts about the Avoca business so you can get a better understanding of their business.
For more information and links to Avoca why not checkout our Useful Resources page.
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Its been a busy week at the Ryan Academy so all those imparted gems from the weeks sessions will get posted up here asap. If you have any questions about this post or our blog, comment below.
“I didn’t have time to write a short letter, so I wrote a long one instead.”