Impacts of Innovation and Technology on Sales, Profits, and Growth

Business Environment

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Impacts of innovation as well as technology...........................................................................1
2. Practical illustration of the ways innovation impacts sales, profits together with growth of
the entity.......................................................................................................................................2
TASK 2............................................................................................................................................4
3. Importance of CSR for the entity.............................................................................................4
4. Application of Archie Carroll's CSR model (1991) to the company.......................................6
CONCLUSION................................................................................................................................7
REFERENCES ...............................................................................................................................8

INTRODUCTION
Business environment is absolute combination of set of conditions or factors that
influences business to great extent. It connotes institutions, external forces and internal factors
which are on the far side to control and affects functions of enterprise. Some factors may have
direct influence while other operates indirectly (Boddy. 2016). By using analysis tools, corporate
strategy managers of firm understands business environment so to deal with challenges, open
new frontiers to achieve growth, improving business image, meet competition and determine
threats with opportunities. For understanding the abstract idea of business environment, Royal
Mail PLC is selected. The entity is one of postal service addition to courier entity that has
headquarters in London, United Kingdom since the year 1516. The assessment includes impacts
that it further covers importance of corporate social responsibility and application of Archie
Carroll's (1991) CSR model to the business.
TASK 1
1. Impacts of innovation as well as technology.
Concept of innovation and technology
It is the concept that involves procedures for adding additional aspects to develop new
commodities or services which fulfils unaddressed requirements and solves needs that were
ignored in past. It majorly emphasis towards technological aspects of commodities despite of
covering full enterprise business model. With this concept, companies adopts latest method
addition to techniques in the operations so to maximise level of productivity together with
profitability (Cadle, Paul and Turner, 2014.). The concept helps in entity in embarking the
journey by identifying the significance of technology as innovation source for achieving
sustainability within market competitiveness. In context to Royal Mail PLC, the entity followed
traditional methods in order to deliver commodities but after online mode as well as
digitalization, general public prefers to send their information through e mails rather then letters
which has decreased their profit margin. To overcome this, Royal Mail Plc has launched E-
Commerce venture so to provide encrypted communication services through online across the
country. By using the technology, the organisation was benefited in maximising its operational
functions.
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