Importance of Business Environment & Factors Affecting the Entity

Business Environment

EXECUTIVE SUMMARY
Business environment is collection or say sub system of all the factors including external
and internal. It is necessary to be aware about firm work environment so that activities and
objectives are carried out in most effective manner. Employees work for longer period of time if
there is present of positive business environment. The main aim of this report is to the importance
of business environment & factors affecting the entity. Also, how to deal with competitors through
analysing work environment within the work place.

Table of Contents
EXECUTIVE SUMMARY..................................................................................................................2
INTRODUCTION................................................................................................................................4
TASK 1 ................................................................................................................................................4
Assess the impacts of innovation and technology and how it has affected the sales, profits and
growth of one of the chosen organisation........................................................................................4
TASK 2.................................................................................................................................................6
Importance of CSR to respective organisation................................................................................6
Archie Carroll's CSR model in relation to chosen company ..........................................................8
CONCLUSION..................................................................................................................................10
REFERENCES...................................................................................................................................11
Books & Journal:...........................................................................................................................11

INTRODUCTION
In this competitive market, it is important to analyse and examine environment at workplace
and so that strategies and tactics are implemented accordingly. Business environment is defined as
collection of external as well as internal factors which which have impact on enterprise
functions(Cherunilam, 2016). Aston Martin Lagonda, a British manufacturer car company
headquartered in UK. It is leading firm which produces luxurious and sports cars all around the
world. This report comprises of two task in which one includes innovation and impact on technical
innovation, technological change, financial and ICT issues, then in second task it involves CSR,
and Archie Caroll's CSR model. This report gives a brief knowledge about how innovation and
CSR has affected business sector with changing period of time.
TASK 1
Assess the impacts of innovation and technology and how it has affected the sales, profits and
growth of one of the chosen organisation
Innovation and invention has always been and essential part of business which help in
development & overall growth. It is crucial to adopt new ideas or thoughts so that change is done
in effective way. In relevance with Aston Martin they follow new trends when it comes to
innovation.
Knowledge and understanding of technological innovation
The ratio of new businesses is increasing and which is also giving a rise to competition.
Organisations focuses on their development but their growth is slow due to lacks of adopting new
changes or producing something new in market. It is essential for enterprise to be innovate so that
they are able to compete with their rivals. Knowledge is required at at every aspect especially when
comes to innovation and technology.
Impact of technological innovation on growth of nation
 Technological impact has deep affect on growth of nation as because it increases the
productivity and make aware of new & updated technologies. In UK, technology has been
considered as major factor contributing to the growth of economy (Deasy, 2016).
 London is being seen as centre hub for technologies, innovation and development. With