Innovation and Technology Impact on Business

The assignment explores the importance of innovation and technology in business development, highlighting their role in increasing sales, customer base, and economic growth. It also touches on corporate governance, CSR, and Carroll's pyramid, providing a comprehensive understanding of these concepts.

Business Environment

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1. Understanding of various types of technology and innovation and the affect of them on the
economic process of the nation..............................................................................................3
2. Analysis of the impact of innovation and technology that how it affect the operations, sales
and profits of the organisation................................................................................................5
TASK 2............................................................................................................................................6
1. determination and understanding of corporate governance................................................6
2. Explanation of Archie Carroll's Pyramid of CSR..............................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
The total of internal and external factors and these factors affect a business, known as
business environment. This factor can include suppliers, customers, competitors, owners,
government, laws, social & economic trends and others (Apăvăloaie, 2014). It can be a collection
of all persons, entities and other factors that may or may not be in the control of the organisation.
This assignment is divided in to two tasks. First task is related to Britvic Plc which is a soft
drinks producer and founded in 1845 or based in Hemel Hampstead. This task will discussed
about the understanding of innovation and a brief overview of the organisation. Second task will
be related to G4S PLC which is a British multinational security services and founded in 1901 or
headquartered in London, England. This task will discussed about corporate governance and
corporate social responsibility of the company.
TASK 1
1. Understanding of various types of technology and innovation and the affect of them on the
economic process of the nation
Innovation is the process and action of implementing and applying a new idea and
thoughts on existing products and services. This task is related to Britvic Plc which is a British
manufacturer of soft drinks. It is headquartered in Hemel Hampstead and founded in 1845. This
task will described about different types of innovation and technology or how innovation and
technology have impacted the operations.
It is a process of converting and converting an idea or invention into a good or product
and service which create value or consumers will pay for that. In Britvic plc, it can be a process
of innovating new products and services by using new and fresh ideas. Technology refers to
methods, systems and devices that are the outcome of scientific knowledge which can be used
for practical purpose. In Britvic Plc, it can be a process which can be used by the management
department of the company to develop new products and services by using methods, systems and
devices.
Innovation and technology create various impact ion the economic growth of the country.
It is an important and necessary driver of economic progress which that provide various benefits
to the customers, businesses and the economy as a whole. In Britvic plc, innovation help in
improving organisation economy as well as country (Bah and Fang, 2015). In making

innovation, technology play an important role because with the help of technology operation and
production manager of the company can make innovation in their products. For example, by
making BSD water innovation, this company added value in help in the economic growth or
development of the nation. By using various promotional technologies such as advertisement
through social media, Instagram and web advertisement, this organisation attract number and
consumer who increase the customer base of it (Cai and Yang, 2014). This company use the
promotional technology in which celebrities promote its products this help in increasing the
sales of the firm. It help in making contribution in the growth of the economy of the country.
There are various new technologies that can be use by the companies to make innovation
in its existing products so that they can attract more customer towards their goods and services.
The firms use technologies so that they can provide information about is products to their target
audiences. With the help it they can create awareness about their products and increase the sales
and productivity. An organisation can use various technologies in different ways in its business
such as in communication, the firm can use email, phone and messages and others to transfer and
share information. In marketing and advertising its products and services it can use social media,
Facebook, Instagram and others. By using IT technologies, it can transmitting, storing,
manipulating and retrieving all kind of data. To provide customer service, the firm can use
various digital technologies such as online booking, online delivery and by launching
application, it provide various services to its target audience. During the time of meeting and
conference, the management department of the company can use web conferencing technology.
For the proper running of its operations it can use different technologies which help in increasing
the productivity of the firm and increasing the sales and profit of it.
Financial issues create impact on each business, these issues can be related to cash flow,
debt, pay, organise business expenses and increase or taxes customer base. Britvic operate is
business internationally and taxes legislations of each nation are differ so they affect the financial
condition of the firm. These kind of issues are facing by the company when it prepare its annual
budget, cash flow and other then they affect the profit of the organisation. ICT are related to the
promotional issues in Britvic. If new technologies and good communication channels are not
used by the company then it could not provide the information about the discount offers
(Cairncross, 2014). Lack of updated information and current changes in the services of Britvic
are some ICT issues that affect the company.

2. Analysis of the impact of innovation and technology that how it affect the operations, sales
and profits of the organisation
There are various technology that can be beneficial for the company for the development
of the organisation. But now these day artificial intelligence is a new technology which is useful
for running the companies operations. Artificial intelligence is a branch of computer science
which help in the development of intelligence machines, thinking and working as human. In
Britvic, the management department of the company can use this technology to help coach their
sales representatives on how to close the deals faster and more profitability (Deasy and et. al.,
2015). Under this technology, they can use Robots in the production process which help in
increasing the production of the firm and reduce the wastage. A(I is a tool like Rocketbot and
Tangwork which provide workers and employees to HR 24/7 via internet chatbot solution. With
the help of this the employees can share their concerns and feedback. When the chatbot is not
equipped to deal with a question, it is routed to the HR for a quick answer. With this, they can
resolve their problems and get answers of them which provide motivation and help in increasing
the productivity and the sales of the firm.
This new technology of Artificial Intelligence is used by the company in the mid of 1990
to mid 2000. At that time the group revenge growth of this firm is 5.6% and the operating profit
margin improvement of 80 basis points. EPS growth of 20.6% to 29.9p and final dividend per
share up 23.9% to 10.9p. At present time in 2018 the revenue increased 5.1% to £1,503.6m with
revenue up 2.7% and adjusted EBIT increased 5.4% with organic adjusted EBIT up 4.0% to
£206.0m. The profit of the company after tax increased 4.9% to £117.1m and adjusted earning
per share increased 6.4% to 56.3p and the full year dividend increased 6.4% (Statistical Data of
Britvic Plc. 2019).
From the data and information, it can be analysed that when the company did not use this
new technology of artificial intelligence the profit and sales of the company were not so high and
it did not operate its business in a better way. But after adopting this new technology, it run and
operate its business activities in a efficient manner which help in increasing the profit and sales
of the firm. This positively affect the business, activities, operations of Britivic Plc by making
development in its sales and profit margins (Deasy and et. al., 2016).

TASK 2
1. determination and understanding of corporate governance
Corporate governance refers to the system of rules and process by which a company
directed and controlled. It consider the interest of the organisation's various stakeholders like
shareholders, management, customers, government, financiers, suppliers and others. In this task,
talking about G4S Plc which is a British multinational security services firm. It was founded in
1901 and headquartered in London England (Hamilton and Webster, 2018). It vis the world
largest security company and operate its business in more than 90 countries with the help of
570,000 employees. It provide various products related to securities like manned security
services, cash handling services and outsourced business process in context to security and safety
risks..
In G4S plc, it refers the way a corporate governed and it is a technique through which a
firm guide and monitor its business, activities, functions and operations. It help in creating
transparency within the business which ensures string and managed growth in the economy of
the organisation. In UK, It is the process of interaction between different participants such as
board's of directors, shareholders and the management of the firm that help in shaping
corporation's performance and organisational activities. It create positive impact on the
companies. For example, If the organisation's corporate governance will be strong it maintain
investors assurance and hike capital of the organization effectively and efficiently. It provide
various authority and responsibility to the boards of directors of the organisations.
The Board's of directors plays different roles and have various responsibilities within a
firm like recruitment, retain and evaluate the manager. They help in providing itinerary the
employees or provide vision, mission and objective for the organisation. The board of directors
are determine and control the functions for a company and they design and develop strategies
and techniques so that a firm can operate its business in an effective manner and achieve its
business objectives. They are responsible to the stakeholders, they reports to stakeholders
specifically the local communities which provide non profit services. There are two types of
stakeholders in a business as external and internal stakeholders. External stakeholder do not have
right to vote but internal stakeholders have right to vote. They invested any ad hominem and
structure finance to the firm but internal stakeholder have a financial interest in the company

(Kolk, 2016). The board of directors are the persons and bodies who are appointed fro doing the
work on place of shareholders, it help in running the business of G4S plc.
2. Explanation of Archie Carroll's Pyramid of CSR
Corporates social responsibilities refers to the process of a business to manufacture or
create a positive impact on the society by doing work for the welfare of it. It can be a business
approach that can be by implement by the firms to make them sustainable and development of
the business. In context of an organisation, it can be a commitment which work ethically from
improving the business of a company and offer benefits to all stakeholders (Lee, Kao and Yang,
2014). In G4S plc, CSR is a vast and broad concept which monitor various topics such as human
right, health and safety, environmental influence and corporate governance which help in
making contribution in the growth of the economy. For example, G4S plc is an organisation
which provide security services to its customers. CSR help the company in operating the
business in an efficient way. CSR help in generating positive business image, increasing sales or
customer base and help in the development of the company by saving operational cost. It is
important because it help in improving the relationship with the customers and their
communities. G4S Plc promote education, employment, vacation skills, slavery and human
trafficking statement and others. CSR help the firm by providing providing training and safety to
the workers and employees of it and providing needed resources to them so that they can do their
work properly.
Carroll's CSR pyramid is a corporate social responsibility model which is developed in
1950 and help argue how and why organisations should meet their social responsibilities. This
pyramid consist four responsibilities like economic, legal, ethical and philanthropic
responsibility. This pyramid remains highly relevant 20 years later. This model is beneficial fro a
company, tom maximize sales, minimize cost and making sustainable decisions that are based
on four responsibilities of this model. Economic responsibilities, it is related to the
organisation's economic performance which is needed for the society and selling them goods for
making profit. In G4S Plc, with the help of this, company analyse its resources that are helpful
fro the development of the company without harming the society (Menychtas and et. al., 2014).

Illustration: Carroll’s pyramid of CSR
Source: Carroll’s pyramid of CSR,(2018).
Legal responsibilities, they are needed by the society and the firm fulfil them with the
help of laws, acts and legislation by following them. Because if the company follow all the laws
and legislations then it will not harming the society and can operate its business and attain its
target. Ethical responsibilities, these responsibilities are assumed and anticipated by the society
that the institution operate its business ethically and cater good products and services to the
customers. They expect that the management department of the company provide a healthy and
friendly workplace to its employees so that they can do their work properly (Savrul, Incekara and
Sener, 2014). Philanthropic responsibilities, it stand at the top of the pyramid and affected the
employees of the society by influencing the morale of them. It focuses on more luxurious things
fro improving the quality of the employees, local communities and ultimately society in general.
CSR activities of G4S plc is that the organisation covers its commitment and
effectiveness within the national and local community under which it reflect its business. It does
not operate that kind of work and operations which negatively affect the business of the firm and
society where it operating its business. It develop various rules and follows different legislations

so that the employees doing their work in effective manner and feel secure at workplace. The
company does not use those resources which are harmful for the company and negatively affect
the society. In this pyramid, the first step is related to economical responsibility which is
necessary by the company for the profit. Second step is emphasises on legal responsibility that is
essential for following the acts and laws a company organising CSR activities. The third step
focus on the ethical responsibility of the firm and it is necessary and important for the business
of the company (Apăvăloaie, 2014). The last step is philanthropic which is important fro the
people to be good corporate citizen. If this model apply on G4S Plc, it will be necessary that the
firm should concentrate on the profit margins of the business. It is also essential for this company
that i6t should focus on legal, economical, ethical and philanthropic responsibilities. In this
organisation, if the management department of this company will applied this model, the CSR of
the firm improve its profits of the business which directly affect the organisation and improve the
image of it.
CONCLUSION
From the above information, it can be concluded that innovation and technology both
play an important role in the development and growth of a company. By making innovation in
its existing products, organisations can increase the sales of the goods and services and provide
products to its customers according their needs & demands. It help in increasing the customer
base. In this essay, defined about financial and ICT issues for key business functions, impact of
innovation and technology on the economic growth of the nation and the use of new
technologism in business operations. Corporate governance, CSR and Carroll's CSR pyramid
are described.

REFERENCES
Books & Journals
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Bah, E. H. and Fang, L., 2015. Impact of the business environment on output and productivity in
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priorities: The role of performance frontiers. International Journal of Production
Economics. 151. pp.131-145.
Cairncross, F., 2014. Green Inc.: guide to business and the environment. Routledge.
Deasy, S. and et. al., 2015. User interface for controlling use of a business environment on a
mobile device. U.S. Patent 8,954,050.
Deasy, S. and et. al., 2016. Controlling use of a business environment on a mobile device. U.S.
Patent 9,247,042.
Hamilton, L. and Webster, P., 2018. The international business environment. Oxford University
Press.
Kolk, A., 2016. The social responsibility of international business: From ethics and the
environment to CSR and sustainable development. Journal of World Business. 51(1).
pp.23-34.
Lee, J., Kao, H. A. and Yang, S., 2014. Service innovation and smart analytics for industry 4.0
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Menychtas, A. and et. al., 2014. 4CaaSt marketplace: An advanced business environment for
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Savrul, M., Incekara, A. and Sener, S., 2014. The potential of e-commerce for SMEs in a
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Online
Britvic innovation and technological impact on economy. 2019. [online]. Available Through:
<https://www.britvic.com/media-centre/corporate-news/2016/19-01-2016>.
Statistical Data of Britvic Plc. 2019. [Online]. Available Through:
<https://www.marketscreener.com/BRITVIC-PLC-9677176/financials/>.