Impacts of Innovation and Technology on Sales, Profits, and Growth

BUSINESS ENVIRONMENT

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Assess the impacts of innovation and technology and how it has affected the sales, profits and
growth..........................................................................................................................................3
TASK 2............................................................................................................................................5
Evaluate the importance of Corporate Social Responsibility......................................................5
Apply Archie Carroll’s (1991) CSR model.................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business Environment is sum or collection of all internal and external factors such as employees,
customers needs and expectations, supply and demand, management, clients, suppliers, owners,
activities by government, innovation in technology, social trends, market trends, economic
changes, etc. Aston Martin Lagonda Global Holdings plc is a British independent manufacturer
of luxury sports cars and grand tourers. It was founded in 1913 by Lionel Martin and Robert
Bamford. This report contains issues such as the impacts of innovation and technology and how
it has affected the sales, profits and growth. Evaluate the importance of Corporate Social
Responsibility and the model of Archie Carroll’s CSR model has been assessed in this report in
order to understand the value and morale of CSR interlinked with the duties of the company
(SHTAL and et.al., 2018).
TASK 1
Assess the impacts of innovation and technology and how it has affected the sales, profits and
growth.
Innovation and changes in technology has helped many companies to evolve and make
changes in their process so that they can achieve growth in the market and increase their share. It
is a challenging aspect for many businesses to adapt change on the basis of needs and wants of
the market. With the help of innovation and the aspect of ICT that is information communication
technology they are able (Camilleri, 2017) to increase the potential of globalization and add
more value in the services offered by them. It is because of this that Aston Martin Lagonda has
been able to challenge other companies so that others can work as per their model of business
and form their culture simultaneously. This is done so that they can stay competitive. If
companies are able to assess the management of change then they will be able to gather core
competencies in the market. Even those competitors of the company who have strongly
established their brand and positioned themselves well enough are not able to assess the threat of
changes in the drivers of innovation as they are very uncertain and not predictable. For instance
many of the companies have not been able to keep up with the pace which is why they have to
exit many markets which were advanced and way ahead of their service delivery (Evans and
et.al., 2017). Many of them were even acquired by their competitors as they were not able to