Innovation and Technology in the Business Environment

BUSINESS
ENVIRONMENT
1

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Innovation and technology..........................................................................................................3
Overview......................................................................................................................................4
New technologies.........................................................................................................................5
TASK 2............................................................................................................................................6
1 Corporate Governance and CSR..............................................................................................6
2 Archie Carroll’s pyramid..........................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
2

INTRODUCTION
Business environment explains the various parameters of growth and high innovation in
companies around world where the customers sale responsibilities are highly performed with
creative development, new technology up gradation and usage of latest technology frames. This
report explains various paradigms of innovation, technology integration which has developed
global business framework and leveraged success of new preferences among consumers. Lloyds
Bank plc is one of the most repudiated banking company in dynamic business world, where
regulation are done with high focus on CSR activities and the various ethical responsibility are
performed towards customers with high focus on creative enhancement , research facts. The
report explains how the profits, sales are progressively developed within company when there is
high focus in building innovation models. There is detailed explanation on elements of CSR as
explained by Archie Carroll , its implications in Lloyds Bank company where regulations are
performed with high focus on reaching high end global goodwill and benchmarks of strong
success (Macey, 2019).
TASK 1
Innovation and technology
Innovation refers to advancement in the already invented platforms of products and
services in company with high usage of technology standards, modern machinery and
researching the best optimistic view which will enable in reaching high end success in bringing
overall progression of country. Innovation is accompanied with technology where it regulates
overall advancement of production, legally brings large efficiency within company operations in
serving customers with high dynamic width and latest trends. Technology brings all over
development in country as per capita income of individual is enhanced and research within
various sectors is developed with high economic growth, productivity is developed and
functional efficiency within economy is uplifted (Lloyd, 2020). The economic growth of country
with evolution of technology can be understood with the wide parameters of progress in all
sectors, industry and companies providing high employment to all people around world. The
various examples of innovation and technology can be explained by the wide success of UK,
USA and China who are highly developed countries among world where companies are highly
technologically advanced, research abilities are highly advanced which serves the purpose of
3

strong customer satisfaction among all over world. Business organizations around the world have
used technology in their operations with large efficiency, and have developed strong parameters
of innovation with large diversity among man force which are highly skilled and talented in
reaching optimum levels of success. Apple, Microsoft are the big companies operating their
business structures in industry with coming up of advanced technology integrated products to
serve customers around world with high efficiency. Not only business scenario is developed by
leveraging technology standards, but goodwill of company is maintained, long term profitability
among consumers and the functional abilities is highly developed relatively (Hazari, North and
Moreland, 2019).
Companies working scenario is enhanced with the advance breakthrough, product
development with internet technology and gathering deep insights on various horizons.
Employees training and commitment towards technology savvy production not only motivates
them and keeps them retained in company for longer periods, but there is working productivity
developed which functionally increases customer segments around the world. Globalization, the
expansion of business into various international markets have given huge platforms of
technology advanced products, services which determine future growth and leverage of goodwill
globally. There is high demand of technology and advanced machinery with latest research
segments which enable companies to deliver high quality standards products, latest innovative
services and production quality with keen involvement of ethical business practices (Rajola, F.,
2019).
Overview
Lloyds Bank plc is Commerical Company which is situated in London, UK. The
company was established in 1765 and provides different insurance products for personal and
corporate use. This helps top provide protection to individual who is insured by the company
(Clarke, 2017). Company is operated in many different countries and provides its services all
over the world to increase the customer satisfaction and increase the brand value in the market to
gain higher profit margins effectively. Lloyd syndicate which is A rated and also has effective
fund supply for the insurance company effectively. The main aim of Lloyds Bank is to increase
customer services and increase market share to improve profit margins and attain core
competency effectively. Company creates insurance books for their customers around the world
4