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Business Environment Assignment Sample (Doc)

   

Added on  2021-01-02

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Business Environment
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Different types of innovation and technology and their impact on the economic progress ofthe country...................................................................................................................................12. Innovation and technology have impacted on the operations, sales and the profits of theCompany. ....................................................................................................................................3TASK 2............................................................................................................................................41. Understanding of corporate governance..................................................................................42. Archie Carroll's Pyramid of CSR.............................................................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONBusiness Environment refers to the external and internal factors that affect the business.The Business Environment identifies the business opportunities and make efficient use ofbusiness resources in order to improve performance. The project report is based on twocompanies namely, Britvic PLC and G4S PLC. The Britvic PLC is the producer of Soft drinksand has listed in London Stock Exchange. The G4S PLC is the multinational security servicescompany that offers a range of services including the supply of security personnel andmonitoring equipment. The G4S PLC also works with governments overseas to deliver thesecurity. The first task will outline how innovation and technology has impacted on theeconomic progress of the Country. The first task will also outline the innovation and technologyhas impacted the business operations of Britvic PLC, its sales and profits. The second task willoutline the corporate governance. Lastly the report will outline the Archie Carroll's Pyramid ofCSR in G4S plc.TASK 11. Different types of innovation and technology and their impact on the economic progress of thecountry.Innovation and technology – Innovation refers to the generating new ideas and creativethoughts to make existing products more superior in the business. Innovation is associated withthe technology due to technology can improvise with the help of innovation. The technology canbe improved and can be more advance by dong innovation.Innovation and technology have contributed to the economic growth of the countryContribution to Employment – The innovation and technology contributes toEmployment in order to do economy development in the country's economy. Accordingto the research the Employment is increased by 5% during 2016 because of theinnovation and technology. Due to the advanced technology the super fast Nationalbroadband 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 andgoing to create about 7,58,800 new jobs.Contribution to GDP growth – The Innovation and technology have contributed toGDP growth of the country. For example 10% increase in broadband penetration1
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contributes 1.4 % increase in GDP. The mobile data use can increase the 4G connectionsthat boosts GDP per capita growth rate by 0.5 %. The information technology accountsfor 3.4 % of overall GDP in country.Contribution to services and industries - Innovation and technology helps to increaseinvestment in infrastructure. The innovation and technology has availing the onlineservices through the mobile phones to the customers. Innovation and technology hasenabled the emergence of completely new industry which is an app industry. In today'sworld 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 tothe Facebook app the economy has exceeds by $12 billion. The information technologyprovides the new ways of reaching industries to their customers and helps to increasetheir market share. The social media itself has powerful marketing tool to drive theindustries.Business organisation use new technologies in their operationsMarketing – The business organisation is using technologies to do marketing of their products.Nowadays, business organizations are using social media marketing to do promotions of theirproducts (Lee and Shin, 2018.). The Business organization are increasing the market share bydoing online marketing of their products. The business organisation has also created their ownwebsite so their customers can directly interacted with them. Inventory control management – The business organization use technology for exploring theirinventory control system. This system keep track record of inventory usage and informs when itfinds the lower level of inventory in order to ensure that the stock do not run out. Thistechnology helps to increase overall productivity of the organization.Communication – The Business organization use technology as their communication channellike for doing Business class email, for video and telephone conferencing. They are usingtechnology in their day to day business operations like computers and printers are used on dailybasis (Alles, Brennan and Vasarhelyi, 2018). The cloud storage serves to store the data in avirtual environment. This facilitates business organization to create and edit their documents andto share information with their clients and helps in collaborating business projects with the ease.Financial accounting system -The business organization are using the financial accountingsoftware in order to keep track record of the company's spending and total revenue that has been2
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