Impacts of Innovation and Technology on Business Environment - A Case Study of TUI Plc

Business Environment

Executive Summary
As per the above-mentioned article, it outlines the inner and also environmental events
compared to market factors that affect the strategic decision. In this study, consider the new
technologies that influence the management of the organization and make intelligent decisions.
In addition to corporate governance, it includes a set of partnerships between a property manager
and other interested parties. In industry, corporate social responsibility plays a pivotal role and
helps to build prosperity for a prolonged duration. This study is based on the TUI Plc which
carries out financial sector operations.

Contents
Executive Summary.....................................................................................................................................2
INTRODUCTION...........................................................................................................................................4
TASK 1..........................................................................................................................................................4
1. Impacts of innovation as well as technology.......................................................................................4
Innovation and technology contributes in economic growth a country..................................................5
Business organizations use new technology in their operations.............................................................5
Brief overview of company......................................................................................................................6
New technologies used by TUI Plc...........................................................................................................6
Compare sales and profit.........................................................................................................................6
TASK 2..........................................................................................................................................................7
Corporate social responsibility and its importance for TUI PLC...............................................................7
Archie Carroll’s (1991) CSR model...........................................................................................................9
CONCLUSION.............................................................................................................................................11
REFERENCES..............................................................................................................................................12

INTRODUCTION
Business environment is linked to internally and externally variable that positive or negative
affects a company. That's a combination of local and global variables that can be used to ensure
an efficient market role. The financial position of a business organization, that also enables gain
market share, depends on its status and operations (Aithal, 2016). For business organizations,
this is crucial to concentrate on such a component and take steps to solve the difficulties.
Throughout the market world there are several variables that can affect the business results. This
report based on the TUI plc which is a global English-German travel industry business based in
Hanover, Germany. It is the country's leading recreational, recreation and entertainment
business, with tour operators, hotels, airlines, fishing boats and retail outlets. This report is
divided into two parts, one is influence of technological innovation and the second is covered in
this document on CSR (Corporate Social Responsibilities).
TASK 1
1. Impacts of innovation as well as technology.
Concept of innovation and technology
Innovation is the mechanism that is used to change the goods or more efficient emerging
technology to build something unique. In other sentences, innovation is seen as a change
implementation that encourages investors to consume items / solutions toward either new
existence or increased focus on consumers. This is a marketing strategy that corporate enterprise
adopts by successfully embracing the climate conditions. By embracing innovation and new
technologies a leader can quickly achieve its organizational mission.
Technology plays a main role in the corporate sector as new technology tends to make the
job simple and seamless by minimizing organizational costs that helps to boost a nation's
economic situation and also a corporation. Anytime company launches everything different,
technology seems to be the way to lure employees and improve organization’s profitability by
growing the team's current value. TUI Plc is retail sector business is strongly influenced by
progress and technological advances that have brought a nation and business to a strong
economic place. This management is constantly developing software as per the plan of the
organization or consumer that allows enhancing the market share (Asongu and Odhiambo, 2019).