Business Environment Essay - Britvic PLC
Added on 2020-10-05
11 Pages3755 Words332 Views
Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3TASK 1............................................................................................................................................31. Innovation and technology.................................................................................................32. Impact of innovation and technology on operations, sales and profitability of organisations................................................................................................................................................4TASK 2............................................................................................................................................61. Demonstrate an understanding of corporate governance...................................................62. Application of Archie Carroll's Pyramid of CSR...............................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTION Business environment is an collection of all internal and external factors in whichemployees, needs and wants of consumers, expectations and supply and demand consist in it. Allthese factors influence the firm's functions in both directly or indirect manner of their works andprocedures. This essay first part is based on Britvic PLC; which is a British producer of softdrinks and listed in London stock exchange. The second part of this essay is based on G4S plc;which is a British multinational security service provider company, headquartered in London.This report is based on role and importance of innovation with role of technology to bringchanges and how innovation impact on operation of an organisations. On the other hand, itincludes role and importance of corporate governance and board of directors to reach at desirablegoals. On other hand. it focusses on Role of CSR model of Archie carroll's to demonstrateunderstanding.MAIN BODYTASK 11. Innovation and technology Innovation and technology is one of the important aspect in today's world and it ismoving with incredible pace or speed. Innovation means to make or bring changes or to implysomething in different manner. It is significant for survival to get exact positioning into marketplace (Babu, 2012.). There are various kinds of innovation that are disruptive, sustaininginnovation which focus on improves the condition of products and services into market by givingfaster and cheaper sources. It is an era of modern technology in which autonomous cars,personalized medicines and computing techniques are important attributes that largelycontributes in economic development and advancement. In modern technologies consist of roleand importance of artificial intelligence, crypto currencies and automation by applying intolearning and practices. These all kinds of technological advancement gives better living standardto people and raise their standard of living. In that scenario need to connect world with necessaryknowledge and information so that they can adopt innovative tools in organisation (Bah andFang, 2015.). In business world knowledge, technology and innovation are major factors thatlargely contributes in economic growth and development and increase ratio of welfare of societyin positive manner. They enhance living standard of people and give competitiveness in market.
It is the necessity of the world to give new and techno oriented attributes to consumers so thatthey remain loyal for organisation and helps in enhance market base. When in an organisationtechnological advancement adopted then it increase viability of firm in market (Bah and Fang,2016.). Demand of clients and rules with regulation of government with privacy of data andstatistics should be challenging part for an organisation.Information and communicationtechnology helps in successfully manage or coordinate industrial changes by keep their clientssatisfied and by enhance their productivity with cutting costs(Cai and Yang, 2014.). The mainconcern behind development of information technology is lack of knowledge and not wellequipped resources that are very much important for an organisation to adopt changes in firm.Organisation not have knowledge, expertise and capacity to avail total profit and benefits out ofthem. The another major concern is pace of change in which current structure, staffing patternand way or methods of operations are not easy to redirect in proper way (Cai and Yang, 2014).The main issues of ICT that is not able to pace with change in technology in positive manner, itis an incredibly difficult for an organisation to comply with rapid changes. 2. Impact of innovation and technology on operations, sales and profitability of organisationsWith development of innovation and technology, today organisations gain opportunity totransform their businesses into digitalised manner. This would help in increasing efficiencies ofoperational activities and offer more innovative services to customers. Through this process, theywould get chance to improve and enhance sales performance which ultimately leads to generatehigh profitability (Craig and Campbell, 2012). For example: ICT technology give opportunity tobring awareness among customers about their product and services, offers, attractive discountsand more.In context of Britvic Plc, this company offers a wide variety of aerated or soft drinkslike Britvic 55, Robinsons, Tango, J2O and more in UK marketplace. It aimed to apply that typeof technology that are helpful in adaptation of rapid changes.As there is a close relationshipbetween innovation and economic development and it has been determined by variouseconomists to bring changes that influence in growth of economy in whole world. Economistsdetermined that almost 1/3 of economic growth should be brought by applying technologicaladvancement because it enhance the living of standard of people and also bring stability inorganisational goals and objectives (Craig and Campbell, 2012). Research and development aremajor area in which learning by doing, human capital and public infrastructure are majorcomponents to bring harmony in works and activities. In this regard, the respective company can
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