Importance of Technological Innovation and Corporate Social Responsibility in Cineworld PLC

This report discusses the importance of technological innovation and corporate social responsibility (CSR) in Cineworld PLC. It explores the impact of innovation on economic development and the role of CSR in improving public image and brand awareness. The report also highlights the various innovations made by Cineworld PLC and the relationship between innovation and economic growth. Additionally, it discusses the financial and ICT issues for key business operations and the importance of CSR in poverty alleviation and risk management. Overall, the report emphasizes the significance of technological innovation and CSR in the success and growth of Cineworld PLC.

Business Environment

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1 ...........................................................................................................................................3
TASK 2 ...........................................................................................................................................6
REFERENCES .............................................................................................................................10

INTRODUCTION
The following report includes information about the need of technological development
within an organisation. It is very important for any organisation to have innovation so that it can
make more profits and money (Hall and Williams, 2019). Task 2 consists of the importance of
corporate social responsibility within an organisation. It is important for the organisations to
conduct CSR activities like donations, charity, helping poor people, etc. This is helpful in
managing goodwill and reputation within market.
TASK 1
Technological innovation concept
Development of a new product, idea or design is called innovation. It is in the form of a
device or a method. It is also said to be applying better solutions to any new unarticulated needs,
requirements or other existing market needs.
Technology on the other hand refers to applying of some scientific knowledge
practically. Most of the times it is done for business in any industry. It can be said as a task
which is accomplished using a technical method, process or knowledge.
Innovation and technology are very important in today's business world. Success of an
organisation depends on innovation. Innovation is also a reason behind economic growth.
Everyday some or other problem, needs or requirement in market arises, in order to resolve these
issues innovations helps a company. Innovations are very important for developing countries as
they give country a differential advantage.
In this file innovation and technology in Cineworld PLC is analysed. It is a cinema chain
which was founded in 1995. its first theatre was opened in Stevenage, Hertfordshire. It stands as
world's second largest cinema chain now with around 9518 screens all around the world. Its
screen spread across in Canada, Romania, Israel, Hungary, Bulgaria etc. It has a number of
variants for its viewers. The customers can watch movie in 2D, 3D, 4DX, Super screen, IMAX,
VIP and Screen X.
Cineworld have come up with a number of innovations and technologies since 1995. the
company is now approximately 25 years old and in its existence it have introduced a number of
innovations. Being a cinema whole work of Cineworld revolves around screens and providing
customers with best ever experience. In order to achieve its objective company has no other
option but to innovate. Some of the innovations made by company are mentioned below:

 Company came up with a new 12 screen complex in Plymouth, this is the latest
innovation of company. It featured a 4DX which had moving seats, water effects, wind
effects and is UK's 3rd largest IMAX screen.
 Another innovation of company is Screen X -270 degree viewing experience. It is quoted
as “world's first multi-projection cinema technology”. It projects main screen images
along with additional images which are projected in cinema on their side walls. This
creates a great experience of viewing for customers(Berry and Berry, 2018).
 It also acquired second-largest exhibitor of movies in U.S. They also came up with
Cineworld Unlimited Card which helped them to increase their revenues. This linked all
of its chains and was also convenient as well as beneficial for customers.
 It also came up with a Laser system in regal theatres. It signed a deal for altogether
15new regal theatres with this feature. This feature included 12 channel immerse sound
system, luxury seating, newly designed entry ways also in theatre branding was included
in these theatres.
 Cineworld also extended hands and initiated a tie-up with AAM's. This gave them
AAM's latest technological innovation which is CMS solution this includes virtual print
network.
The relation between innovation and economic development
Innovation provides growth in economy and increase wages
Innovation is helpful in driving economic growth and it also raises wages. The culture of
companies and the economic system has created opportunities for innovation. When there is
innovation in the company, the job opportunities and demands for hiring people also increases.
This is helpful for the company to develop job opportunities through doing innovation. This has
also provided help in economic growth and development of the country.
Innovation improves the life expectancy of the country
The longevity of any country is increased by the innovation within organisation. The
average life expectancy of any country is approximately fifty eight years. This is important for
any country to have more companies that do innovation as it helps in increasing the economic
growth (Tidd and Bessant, 2018). By launching new and innovative products, it is more easy to

capture customers. This helps in increasing revenue and profits of the company. In this way,
there is contribution to the economic growth of the country.
Innovation makes technology affordable
When the company is using cloud computing and big data, it is important to manage
work effectively. There is need of doing innovation so that the technologies and techniques are
assessed by the people. There are some consumer technologies like mobile devices and personal
computers which are making it easier for people to reach new products and services. In context
of the entertainment industry, it is seen that people are provided effective services. This is done
by analysing the needs and demands of customers and making them provide good quality video
and pictures.
Financial and ICT issues for key business operations
The role of information technology within an organisation is high. The information and
communication technology has is used within the organisations for providing effective and good
services. The use of ICT has helped in increasing the efficiency, effectiveness, reliability,
performance and other factors of the that are used in the commercial operations and activities.
The use of ICT has increased as well as renovated the financial structure both in the quantity and
quality. This has helped in doing transactions effectively. The ICT provides companies an
opportunity to develop as well as maintain competitive edge within the global practise. ICT is
defined as computerised technology that is helpful in enabling communication and electronic
capturing. This includes processing and transmitting of the business activities effectively. ICT
is helpful in enhancing, coordinating and controlling operations of various organisations. This
helps in increasing use of financial management of the company. The small business enterprises
are involved in developing ICT and this is helpful in providing good services and this guarantees
providing financial information delivery. When the company uses computer based accounting
systems, records are generated in less time. The accuracy of financial statements is helpful in
analysing the performance of the company. This provides information about what is to be done
and how goals can be achieved. The ICT tools and techniques help in integrating the customer
relationship management. This is helpful in managing products and services effectively. The ICT
technologies provides benefit to business world by allowing people to work in efficient manner.
This is also helpful in maximising productivity as well as communication becomes faster.

Technology is the most effective part of any business and it is helpful in storing, transferring and
managing of information effectively.
TASK 2
Corporate Social Responsibility (CSR)
Corporate Social Responsibility is described as a process in which business firm focuses
on satisfy legal as well as commercial need of society in order to retain for a long period of time.
The main purpose of CSR is to increase morale of subordinates that helps them in boosting
productivity of business organisation. It assists company in increasing their brand image and
reputation of company (Kahn, 2018). The Cineworld PLC is second biggest cinema company
which is located in London founded in the year 1995. CSR plays a very important role in
company for gaining competitive advantage over rival firms. In addition to this, the company
focuses on providing Entertain facility to its customer in order to satisfy them. Along with this,
CSR helps in boosting brand image and reputation of company in mindset of consumer. They
also provide effective entertainment services at minimum cost for welfare of individual living in
the society. The company focuses on making effective strategies, policy and procedure for
satisfying the need of individual living in society.
Importance of CSR
Improved Public Image: The Cineworld PLC is one of the well reputed company
focuses on providing effective entertain facilities to its customer in order to satisfy them. It helps
them in increasing reputation and goodwill of company in the mindset of consumer. In assistance
of this, the company comply CSR that helps them in increasing future sales as well as
profitability.
Improve Brand awareness and recognition: Herein, Cineworld PLC facilitate ethical
practices in order to attract customer towards their brand of entertainment services. It also
focuses on increasing standard of people living in society that boost their customer base in
marketplace.
Cost Saving: The company emphasised on providing cost effective entertainment
services to its buyer for satisfy their need and wants. In addition to this, it helps in increasing

loyalty and trust of customer towards their cinema services. They provide effective
entertainment services to its customer at affordable cost.
Competitive advantage: CSR plays a very important role for success and growth of
business organisation. They provide services that is not harmful for society as well as increasing
standard of living of individual living in society. Along with this, they offer cinema services
according to the need of customer in order to gain competitive advantage over rival firm.
Increased Sales: It has been analysed that the individual go through the effective
services provided by company. Therefore, the manager of Cineworld PLC focuses on providing
suitable cinema services to individual that satisfy the need of people living in society. It helps in
boosting future sales and growth of business organisation (Stoian, and Gilman, 2017).
Poverty Alleviation: Herein, the supervisor of company focuses on providing standard
quality products and services to its customer for welfare of individual living in society. In
assistance of this, they provide cinema services at minimum cost in order to satisfy them for
towards their products and services. They focuses on eliminating poverty as well as increasing
standard of living of individual living in society.
Risk management: It is very important for the top management of company to analyses
social and economic factor that affect the activities and functioning of business organisation.
Beside from this, they manages risk that arise within workplace. They identify all external factor
that imposes direct impact on operation and functions of business firm in order to reduce risk
arises within marketplace.
Employee Engagement: The HR Manager of Cineworld PLC focuses on hiring capable
and talented individual that helps them in offering effective services to its customer that
increasing standard of living of people living in the society. In addition to this, the HR Manager
emphasised on giving effective training to its employees that do not harm the environment of
society. It helps them in boosting productivity as well as proficiency level within marketplace.
From the above mentioned strategies, it has been analysed that Cineworld PLC
emphasised on providing appropriate entertainment services to its customer in order to achieve
competitive benefits at marketplace. The manager of this company making effective plan of
action, policies and procedures after analysing the strategies made by competitive firm. This

helps them in retaining customer for a long period of time. Along with this, the company earn
more and more revenue in order to gain competitive advantage over rival firm.
Archie Carroll's Model
This model determine the Corporate social responsibility which passed through different
factors such as legal, ethical, economical as well as Philanthropic that meet the requirement of
individual living in society. It will helps them in future success as well as growth of business
organisation (Lunenberg, Gossel and De Jong, 2016). In context of Cineworld PLC, there are
various factor which must be followed by manager of company for their success and growth
that is going to be described below:
Economic Responsibilities: The main objective of business organisation is to achieve
more and more profit for future success and growth of company. In assistance of this, the
manager focuses on earning maximise profit that helps in contributing towards providing
effective products and services to its customer that is useful for people living in society. In
addition to this, they create employment opportunity for individual for increasing productivity of
business firm. Along with this, the company offer innovative as well as unique entertainment
services to its customer in order to increase profit to operate their business successfully. In
assistance of this, the main responsibility of manager is to earn profit by providing qulaity
products and services to its customer.
Legal Responsibilities: It is very necessary for company to comply law while providing
cinema services to its customer. The manager of Cineworld PLC must focuses on follow all rules
and regulation to defend customer from any fraud. It helps in boosting trust and loyalty of
customer towards products and services provided by business firm. Therefore, it assists in
increasing reputation as well as goodwill of company.
Ethical Responsibilities: Herein, it is the responsibility of manager for being ethical in
offering entertainment services to its customer. The company must emphasised on handling
wastage for preventing environment for future period of time. Beside from this, they offer more
than minimal pay rate that is beneficial for employees. Also they provide various benefits such as
insurance plan, clean environment and many more in order to create good environment within
workplace. Therefore, the manager must follow ethical laws within business organisation in
order to create good environment within workplace.

Philanthropic Responsibilities: Herein, Cineworld PLC focuses on maintaining balance
between their earning as well as fulfilling responsibility towards society. The manager of this
company emphasised on earning revenue to invest in the useful resources. Also they want to
contribute remaining money towards welfare of society(Mishra, 2017). The company follow
CSR helps them in increasing brand image as well as goodwill of business organisation. They
earn money to invest in those resources that bring money for business and they also contribute
their money for the welfare of society.
On the basis of above discussion, it has been analysed that it is essential for company to
follow all the responsibilities given above for success and growth of business organisation. In
context of Cineworld PLC, the manager of this company emphasised on follow ethical and legal
aspect in order to retain customer for a longer period of time. Beside from this, the responsibility
of supervisor is to earn more and more revenue that helps in contributing towards the welfare of
society. It helps business for increasing future sales as well as profitability level within targeted
period of time.

REFERENCES
Books and Journals
Hall, C.M. and Williams, A.M. eds., 2019. Tourism and innovation. Routledge.
Berry, F.S. and Berry, W.D., 2018. Innovation and Diusion Models in Policy Research.
In Theories of the policy process(pp. 263-308). Routledge.
Tidd, J. and Bessant, J.R., 2018. Managing innovation: integrating technological, market and
organizational change. John Wiley & Sons.
Kahn, K.B., 2018. Understanding innovation. Business Horizons, 61(3), pp.453-460.
Stoian, C. and Gilman, M., 2017. Corporate social responsibility that “pays”: A strategic
approach to CSR for SMEs. Journal of Small Business Management. 55(1). pp.5-31.
Lunenberg, K., Gosselt, J.F. and De Jong, M.D., 2016. Framing CSR fit: How corporate social
responsibility activities are covered by news media. Public relations review. 42(5).
pp.943-951.
Mishra, D.R., 2017. Post-innovation CSR performance and firm value. Journal of Business
Ethics. 140(2). pp.285-306.