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https://spaceportcornwall.com

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British retailer WHSmith PLC was established in 1792 and is a globally expanding business, who focus on their two strengthened sectors of Travel and High Street. WHSmith have a range of objectives in which they aim to achieve these goals by implementing strategies which align with their values. One key value to WHSmith is to provide customers with products which are competitive and “delivered with pace” which can be attributable to persistent innovation. WHSmith have procured innovation through various stages of their business, which will now be explored in further detail in the 2 core sectors.

Travel

WHSmith have become a dominant travel retailer by penetrating international markets and developing their reputation on an international level by offering customers their products in travel stores. These stores can be located in airports, train stations, hospital and motorway services, including 30 other international airports besides the UK. Their main goal for this division is becoming the leading retailer for news, books and convenience for international travelling customers. They have created a strong culture of innovation through consistently improving the quality in their own brand products and bringing out their own ranges such as travel essentials. This Destination Travel Brand caters to all travellers by covering all necessities essential to any universal international traveller such as travel adaptors and locks for luggage. WHSmith have had this capability of innovating due to support from their strong global network.

High Street

WHSmith have a strong foothold within the mass market they target for their High Street branches, where they offer an immense range of products. They have also capitalised this market online where this includes other complimentary services such as personalised greetings card site and a specialised pen retailer. WHSmith have used their knowledge of their specific market, and taken advantage of opportunities by customising products such as fashion stationery. WHSmith have established for products within this bracket that they scrutinise forecasts and international trends in order to meet expectations. This is demonstrated through their unique and original designs which are created once they have exerted their global influence and identified what consumers want. Once they have recognised trends the company improve existing products by continually innovating by introducing newer materials and specifications. Alongside their values for innovation, WHSmith also want to focus on the sustainability aspect, by providing customers with products which are sustainably sourced in order for products and operations to have minimal impact on the environment.

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Innovation Quote pulled from WHSmith's website

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Innovation Quote pulled from WHSmith's website

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"WHSmith has a very strong competitive edge due to its widespread global sourcing network, direct from factories and from major aspirational international brands.

This network, coupled with our market-leading in-house design team based in the UK and a sourcing team of 30 people in Hong Kong and Shanghai, allows us to produce high quality own brand products in stationery, travel and digital essentials.

We have a strong market-leading position in stationery, with our UK high street stores benefiting from front-of-store space for the category and continual range improvements."

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Sir Richard Branson's potential announcement of Space Tourism at the upcoming G7 contradicts the FAQ's found on the Spaceport's website.

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Sir Richard Branson's potential announcement of Space Tourism at the upcoming G7 contradicts the FAQ's found on the Spaceport's website.

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https://spaceportcornwall.com/pdfs/spaceport-launch-QandA19.pdf

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Sir Richard Branson hints at space tourism flights from Cornwall

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Sir Richard Branson hints at space tourism flights from Cornwall

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https://www.cornwalllive.com/news/cornwall-news/sir-richard-branson-hints-space-5004625

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https://blog.whsmith.co.uk

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https://twitter.com/WHSmith?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

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Some of WHSmith’s biggest fails as shop is voted worst on high street.

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Some of WHSmith’s biggest fails as shop is voted worst on high street.

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https://metro.co.uk/2019/05/29/whsmiths-biggest-fails-shop-voted-worst-high-street-9718812/

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https://www.instagram.com/whsmithofficial/?hl=en

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Do you have any innovative measures put in place to improve staff retention and satisfaction levels?

What benefits do you see from having an in-house design team?

How would you describe the companies innovation strategy?

How does the company cultivate an atmosphere amongst its employees in order to cultivate innovation?

What structures do you have in place that allow you to react quickly or predict upcoming trends?

Are there any plans to innovate further in terms of focusing on airports? Travel and digital products have been the fastest growing range for WHSmith. Have your travel products seen a decline with the pandemic? If so, are there plans to implement products that can be used for ‘travelling during a pandemic’?

With the public moving to more digital products, was there pressure to innovate quickly in order to stay relevant in the public's eye?

Will the strategy implemented in Airports such as Perth be implemented in the UK?

Are upcoming innovations focusing on a particular demographic?

What impact has wholesaling had on the company?

With more and more shops closing in the British high street, what is WHSmith planning on doing to avoid this?

Are there plans to further differentiate your product range?

How do you think your strategy differs from Amazon in regards to selling books and stationary?

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Richard Branson explains why Cornwall was deemed to be the best location.

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Richard Branson explains why Cornwall was deemed to be the best location.

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https://twitter.com/spacecornwall?lang=en

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Has sustainable fuel been considered to power the launch?

How would you describe the companies innovation strategy?

Has 'trial and error' been included in the strategy?

How does the company cultivate an atmosphere amongst its employees in order to cultivate innovation?

Is there a strategy to deal with the possibility of satellite congestion in space?

What engagement has been undertaken to get the local community involved?

Are their plans to increase the capability to more than 8-12 satellites each year?

Will the runway be open to other countries? Will it only launch satellites that are useful to the UK?

Are there plans to partner with other agencies in order to pool resources and knowledge e.g. SpaceX?

How much has been invested in research and development?

Are there any innovative developments which need to be implemented before the launch? If yes, what are these changes?

Has COVID had an impact on the plan to launch in 2022?

Are there plans for commercial space travel in the future?

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Innovation Annotated Bibliography - Sheet1

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Spaceport Cornwall is a project to become the UK’s first horizontal spaceport in the UK. Cornwall and Virgin Orbit are partnering together to deliver this project at Newquay airport, which has a 2,744m long runway. Newquay is an ideal location because it has direct access to uncongested airspace, sea and it has a low population density. The Goonhilly Earth Station, which tracks space systems, is also located in Cornwall therefore showing how Cornwall is the best location for this project. Spaceport is working with Virgin Galactic, planning on the first UK space launch in 50 years. The company is hoping to do 8 horizontal launches per year. This innovation into space travel could attract investment from companies like SpaceX. Being an Aerohub Enterprise Zone, Spaceport benefits from tax breaks. Cornwall will reap the benefits of Spaceport, as it will create nearly 500 jobs by 2028 and £200m GVA (Gross Value Added). The company’s vision is carrying out the first launch into space in 2022 following the successful test flight in the USA. Richard Branson believes tourists could use the Spaceport for interplanetary travel in the future, thus encouraging innovation. The market opportunity in the launch market is relatively large (worth a potential £3.9 billion); the UK produces many of the world's small satellites, however it has never launched them. In June of this year, leaders of the G7 will arrive in Cornwall for the G7 summit, which is not far from Spaceport. Therefore, this could encourage FDI into Cornwall and further demonstrate Cornwall as one of the leaders in the space industry. Spaceport’s long term vision is to launch 13,000 satellites by 2030. Spaceport will help foster wider growth in other sectors and has the potential to inspire a whole generation. The Spaceport outreach programme is designed to engage with school students in the whole of Cornwall. This project is helping to promote the Cornish space industry by making Cornwall recognised globally as a key player in this field.