Impact of Innovation, Business Ethics and CSR on Burberry Group PLC

BUSINESS ENVIRONMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The Impact of Innovation on BURBERRY GROUP PLC..........................................................3
The Impact of Business Ethics and CSR on BURBERRY GROUP PLC...................................5
Corporate Social Responsibility..................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business environment refers to all those factors which affects business operations, in
business environment both internal and external factors affect the performance of the business.
The role of business environment is very important in the performance of the business. This
report will highlight the concepts by choosing Burberry as the firm which is a fashion retailer
company headquartered in United Kingdom (Dziubaniuk, Nyholm, 2020). The company offers
luxury products all across the world. Later, this study will elaborate the impacts of innovation,
business ethics and corporate social responsibility over BURBERRY GROUP PLC. This study
report will discuss about the impact of innovation, business ethics and corporate social
responsibility. The proper innovation is done by investing the time and money in it, customers
also attracts towards the efforts provided to them by the extra value and services which cost to
more sales (Carroll, Brown, 2018).
MAIN BODY
The Impact of Innovation on BURBERRY GROUP PLC
The business innovation means launching something new to the company which can be
new products, market strategy, method etc, and promoting the new value and growth. A
successful innovation adds the value to the business which increase the profit margins which also
improves its present products or it can also form the new one as well. The innovations help to
stay ahead of the competitions. As with the globalization and quickly change in market, the
business competition has increased more than before. So it is necessary to take the step forward
in the market and analyse and fulfil the customer needs (Manuel, Herron, 2020).
Failure in improving the products and poor services can bring down at the risk to losing
the customer attention and more to the innovative competitors.. There are three different models
of the business innovation, each model includes innovating the different features of the
organizations.
 Revenue model innovation : the business owners looks at the revenue model for the
places to innovate the products and services which is offered by them. The organizations
select the revenue model for certain aspects like change in prices of their offering,
creating the new changes in the supply chain, to bring the innovative products and stop
selling the old products, and sell to the new customers.