Impact of Innovation and Business Ethics on Burberry Group PLC

BUSINESS ENVIRONMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1) The impact of innovation on modern business organization...................................................1
2) Impact of business ethics and CSR over Burberry group plc..................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business environment is one of the most important factor of the business. Business
environment is the collection of all the factors i.e. internal or external factors like employees,
customers, management department, owners, suppliers and many more. This controls the roles of
the organization and helps in making the firm more successful. (Hrechyshkina, O. and
Samakhavets, M., 2019.) Business environment helps in identifying the business opportunities
and beating new properties. In this report we will study about the impact of innovation on modern
business organization and also on the impact of business ethics and corporate social responsibility
on modern business organization like Burberry Group PLC.
MAIN BODY
1) The impact of innovation on modern business organization
Business environment is the sum of all the individuals, administrations and other factors
which are outside the company but eventually affect the company’s production. There are
basically four types of business environment faced by any organization. Similarly, here we are
discussing on the business environment affecting one of the most the biggest British luxury
fashion company named Burberry Group PLC. There are five factors of business environment
which are social, political, economic, legal and technological. There are many benefits of having a
good business environment in the business as it helps in identifying different opportunities and
therefore improves the performance of the company.( Khajeheian, D., Friedrichsen, M. and
Mödinger, W., 2018) For example, ‘Airtel’ is the first company find the need of 4G speed of
internet and introduce this followed by Vodafone and idea. Another benefit of business
environment is it helps in tapping new resources and managing with quick changes within the
company. The business environments help in identifying threats and changing them into a good
opportunity.
Features of business environment:
 Business environment incorporates all the factors which are outside the organization and it
focuses on all the external factors.
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