Business Environment Assignment Sample (Doc)

Business Environment

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Different types of innovation and technology and their impact on the economic progress of
the country...................................................................................................................................1
2. Innovation and technology have impacted on the operations, sales and the profits of the
Company. ....................................................................................................................................3
TASK 2............................................................................................................................................4
1. Understanding of corporate governance..................................................................................4
2. Archie Carroll's Pyramid of CSR.............................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business Environment refers to the external and internal factors that affect the business.
The Business Environment identifies the business opportunities and make efficient use of
business resources in order to improve performance. The project report is based on two
companies namely, Britvic PLC and G4S PLC. The Britvic PLC is the producer of Soft drinks
and has listed in London Stock Exchange. The G4S PLC is the multinational security services
company that offers a range of services including the supply of security personnel and
monitoring equipment. The G4S PLC also works with governments overseas to deliver the
security. The first task will outline how innovation and technology has impacted on the
economic progress of the Country. The first task will also outline the innovation and technology
has impacted the business operations of Britvic PLC, its sales and profits. The second task will
outline the corporate governance. Lastly the report will outline the Archie Carroll's Pyramid of
CSR in G4S plc.
TASK 1
1. Different types of innovation and technology and their impact on the economic progress of the
country.
Innovation and technology – Innovation refers to the generating new ideas and creative
thoughts to make existing products more superior in the business. Innovation is associated with
the technology due to technology can improvise with the help of innovation. The technology can
be improved and can be more advance by dong innovation.
Innovation and technology have contributed to the economic growth of the country
 Contribution to Employment – The innovation and technology contributes to
Employment in order to do economy development in the country's economy. According
to the research the Employment is increased by 5% during 2016 because of the
innovation and technology. Due to the advanced technology the super fast National
broadband network has supported 25,000 jobs annually (Pot, Totterdill and Dhondt,
2016.). The global technological market has grown by 8 % and has created may jobs.
According to the research the technology jobs has to rise about 22% till the year 2020 and
going to create about 7,58,800 new jobs.
 Contribution to GDP growth – The Innovation and technology have contributed to
GDP growth of the country. For example 10% increase in broadband penetration
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contributes 1.4 % increase in GDP. The mobile data use can increase the 4G connections
that boosts GDP per capita growth rate by 0.5 %. The information technology accounts
for 3.4 % of overall GDP in country.
 Contribution to services and industries - Innovation and technology helps to increase
investment in infrastructure. The innovation and technology has availing the online
services through the mobile phones to the customers. Innovation and technology has
enabled the emergence of completely new industry which is an app industry. In today's
world every industry is marketing their business through launching their own app
(Akhtar, 2018.). For example, Facebook app alone has created over 182,00 jobs. Due to
the Facebook app the economy has exceeds by $12 billion. The information technology
provides the new ways of reaching industries to their customers and helps to increase
their market share. The social media itself has powerful marketing tool to drive the
industries.
Business organisation use new technologies in their operations
Marketing – The business organisation is using technologies to do marketing of their products.
Nowadays, business organizations are using social media marketing to do promotions of their
products (Lee and Shin, 2018.). The Business organization are increasing the market share by
doing online marketing of their products. The business organisation has also created their own
website so their customers can directly interacted with them.
Inventory control management – The business organization use technology for exploring their
inventory control system. This system keep track record of inventory usage and informs when it
finds the lower level of inventory in order to ensure that the stock do not run out. This
technology helps to increase overall productivity of the organization.
Communication – The Business organization use technology as their communication channel
like for doing Business class email, for video and telephone conferencing. They are using
technology in their day to day business operations like computers and printers are used on daily
basis (Alles, Brennan and Vasarhelyi, 2018). The cloud storage serves to store the data in a
virtual environment. This facilitates business organization to create and edit their documents and
to share information with their clients and helps in collaborating business projects with the ease.
Financial accounting system -The business organization are using the financial accounting
software in order to keep track record of the company's spending and total revenue that has been
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generated (Johne, 2018). The accounting software also analysis total cash outflow and inflow
while making sales and purchasing transaction.
2. Innovation and technology have impacted on the operations, sales and the profits of the
Company.
New technologies used in Britvic PLC
The Britvic PLC has introduced packaging technology and has made huge investment in
GB supply chain investment program that enables the access to the latest packaging technology.
The Britvic PLC has involved and amend management systems and quality processes to reflect
the new technology in the GB supply chain (Hansen, 2018). The investment in new technology
has installed the heat exchange system. They had captured waste heat and has directs it back in
their operations. The Britvic PLC has reduced natural gas consumption by 8 %. The
transformation of their operations has helped to drive 14% reduction in their manufacturing
carbon emissions. The Britvic plc has eliminated 600 tonnes of primary plastic by assessing the
new technology which enables the manufacturer to produce the lighter weight bottles.
The sales and profits of the Britvic PLC after the new innovations
The total revenue that is being generated from Britvic innovation is 7.1 % in the year
2018. There innovation is focused on margin accretive and realizing category of growth
channels. The Britvic PLC has creating three growth opportunities in three areas.
1. Britvic PLC is doing innovation for creating healthier products. They are introducing new
products that are predominately contained no sugar level (Hamilton and Webster, 2018).
2. Britivic PLC is doing innovation to utilize their strength in their core brands. For every
new occasions they do packaging of their cold drinks in different pack formats. They
have done innovation in there products like robinsons with fruit creations, Fruit Cordials
and Refresh’d and Squash’d.
3. The Britvic PLC is targeting their products in fast growing categories that are offering
them long term potential with their natural energy drink Purdey's and premium adult
socializing with their brand such as London Essence Company.
The Britvic PLC are innovating their product with their tagline ''A healthier Everyday''. The
Robinsons fruit creations and fruit Cordials which they have launched is generating £25 million
retail sales value. The Aqua Libra they launched in GB and Ireland in October in the year 2017.
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It is a natural fruit flavored water that is completely unsweetened (Lertxundi, Barrutia and
Landeta, 2019). In Ireland Britvic PLC has added a new lemon variant to their sugar free Club
Zero and super fruity variants to their MiWadi 0% Sugar range that is sweetened only with fruit
juice and stevia and fortified with added vitamins like B3, B6 and zinc. In Brazil the Britvic PLC
has relaunched Natural Tea with their new sugar free flavors that is appealing the consumers
who are looking for healthy beverages (Teece, 2018). The Britvic PLC is capitalizing the new
trend for premium cocktails and flavored hot drinks and has relaunched the home syrups and
Purees range. The Britvic PLC has nine products in their London Essence Company range.
TASK 2
1. Understanding of corporate governance
Corporate governance – The corporate governance refers to the mechanisms, relations and
process through which corporation controlled and directs, it involves securing the interest of
stakeholders of a corporation. It is a system of rules, practices and polices in which a Company is
directed and controlled.
History of corporate governance in the UK - The corporate government in UK has barely
existed 20 years ago. The Corporate governance has run in companies, charities, universities,
local authorities and in National Health trusts (Grayson and Hodges, 2017). The revolution has
started in the early 1990 when Cadbury has reported on the financial aspects of the corporate
government. In the year 2002 Derek Higgs an investment bank has again looked at Corporate
governance. The Higgs report has come out in the year 2003 that has greeted by some leading
company.
Responsibilities of the Board of directors :-
 The board of directors responsibility is to approve the CSR strategies, budgets, plans and
corporate polices.
 The board of directors has a responsibility to assess performance against business plans
and to monitor the performance of the management as well as continuing suitability of
business strategies (Crane and Matten, 2016).
 The board of directors consider management recommendations on the proposed of the
acquisitions, divestment and significant capital expenditure.
 The board of directors ensures that Company operates an appropriate corporate
governance structure in ensuring the CSR legally and responsibly.
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2. Archie Carroll's Pyramid of CSR
Corporate Social Responsibility – The corporate social responsibility refers to the regulating
business model by accounting society aspects including economical, social, environmental.
Corporate Social Responsibility provides sustainability in business environment (Grayson and
Hodges, 2017). In addition, the Corporate Social responsibility maximize the shareholders value.
Archie Carroll's Pyramid of Corporate Social Responsibility
The Archie Carroll's Pyramid of Corporate Social Responsibility is a framework of four
part upon which pyramid has created. The top part shows Philanthropic responsibilities of G4S
PLC. Second part is of Ethical responsibilities in G4S PLC (Carroll's CSR Pyramid, 2017). Third
part consist of Legal responsibilities of G4S PLC. The last part will show Economic
responsibilities of G4S PLC.
Four areas of Corporate Social Responsibility in G4S PLC
 Philanthropic Responsibilities – The G4S PLC colleagues has continued to support
many local, national and international charities. The G4S PLC has matched the funding
raised by their employees who has participated in various events such as marathons,
charity auctions events and has associated in fun runs (Epstein, 2018). In the year 2018
G4S PLC has matched a total of £59,473 to support local communities. The G4S Plc has
taken part in a charity to donate their used clothes in order to help them and has help
them to raised funds through a Japanese clothing retail chain (Begg, Woerd and Levy,
2018). The chain has been donating clothing to the vulnerable groups like evacuees,
victims of disaster and nursing mothers.
 Ethical Responsibilities – The G4S PLC has showing transparency and disclousre
fundamental to built their relationship with customers and suppliers. The G4S PLC has
continued to maintain an open, honest and fair discussions with their Customers and
suppliers to maintain the ethical responsibilities towards them. The G4S PLC has Whilst
the illegal use of their software is an ongoing challenge. The Employees also contributes
to Corporate Social responsibility. The Global corporate policy against the acceptance of
bribes the G4S PLC has enhanced and improved the elearning tools (Barnett, 2019).
 Legal Responsibilities - In order to protect interest of their customers there Anti Piracy
and compliance teams has monitoring the illegal use of G4S software and enforce
compliance within their terms and conditions (Beatty, Samuelson and Abril, 2018). G4S
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PLC is becoming more successful in the detection of such cases and has subsequently
enforcing the terms of licensing. The G4S PLC is working upon Data Protection laws.
The G4S PLC has also following the Health and Safety laws into their business
operations.
 Economic Responsibilities – The G4S PLC is providing direct employment to
approx 546,000 people around the world. By
its supply chain and employee expenditure the
G4S PLC indirectly supports the creation of
thousands of employment and job opportunities
all over the globe. The G4S PLC is helping to create safer
environments in which businesses may
boom. The G4S PLC is also contributing to the
attractiveness of investment by the various businesses
into the new communities and also creates the further employment opportunities for the
societies. The G4S PLC is also helping to mitigate the crime through providing security. The risk
and impact of criminal behavior get reduced due to the G4S PLC is creating safer communities.
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CONCLUSION
It is been concluded from the above project report of Business Environment that the
Innovation supports new ideas and creative thoughts from the employees of Britvic PLC in order
to make existing products more superior in the business. It is been concluded that Innovation and
technology have been contributed to the economic growth of the country. It contributes to
Employment and helpful in increasing the Gross domestic product rate in a Country's economy.
It is been concluded that innovation and technology has increased the sales and profits of the
Britvic PLC. It is been concluded that Corporate governance has secured the interest of
stakeholders of a corporation. It is been concluded that G4S Plc has fulfilled the corporate social
responsibility in their business.
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REFERENCES
Books and Journals
Akhtar, M., 2018. Managing strategic performance in a dynamic business environment: A study
of two Indian oil companies. Global Business and Organizational Excellence. 37(5).
pp.47-62.
Alles, M., Brennan, G., Kogan, A. and Vasarhelyi, M.A., 2018. Continuous monitoring of
business process controls: A pilot implementation of a continuous auditing system at
Siemens. In Continuous Auditing: Theory and Application (pp. 219-246). Emerald
Publishing Limited.
Barnett, M.L., 2019. The business case for corporate social responsibility: A critique and an
indirect path forward. Business & Society. 58(1). pp.167-190.
Beatty, J.F., Samuelson, S.S. and Abril, P.S., 2018. Business law and the legal environment.
Cengage Learning.
Begg, K., Van der Woerd, F. and Levy, D. eds., 2018. The business of climate change:
Corporate responses to Kyoto. Routledge.
Bhowmick, A., 2015. Examining the Relationship Between Organisation Structure and
Perceived Innovation-A Study of Indian Corporations. NHRD Network Journal. 8(2).
pp.39-44.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Epstein, M.J., 2018. Making sustainability work: Best practices in managing and measuring
corporate social, environmental and economic impacts. Routledge.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Hamilton, L. and Webster, P., 2018. The international business environment. Oxford University
Press.
Hansen, A., 2018. Environment, media and communication. Routledge.
Johne, F.A., 2018. Industrial product innovation. Routledge.
Lee, I. and Shin, Y.J., 2018. Fintech: Ecosystem, business models, investment decisions, and
challenges. Business Horizons. 61(1). pp.35-46.
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Lertxundi, A., Barrutia, J. and Landeta, J., 2019. Relationship between innovation, HRM and
work organisation. An exploratory study in innovative companies. International Journal
of Human Resources Development and Management. 19(2). pp.183-207.
Pot, F.D., Totterdill, P. and Dhondt, S., 2016. Workplace innovation: European policy and
theoretical foundation.
Teece, D.J., 2018. Business models and dynamic capabilities. Long Range Planning. 51(1).
pp.40-49.
Online
Carroll's CSR Pyramid, 2017 [Online] Available through :-
<https://www.tutor2u.net/business/reference/carrolls-csr-pyramid >
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