Impact of Innovation and CSR on Business Environment

Business Environment

Executive Summary
Innovation is the process and action of innovating that helps to bring the new ideas and
thoughts in relation to a business and creating advantages. Customers get highly influenced by
innovation and new technology as they get new products and services as per new trend. CSR is
social responsibilities which needs to be pay attention by organisation while running a business
that helps to improve the brand images and increases the profitability in changing environment.
This report is summarising about how innovation affected the business and helps in growth as
well as profitability. Moreover, how social responsibilities are impacting on operation and
profitability of organisation.

Table of Contents
Executive Summary ........................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
1. Understanding of innovation, and the role of technological change in economic progress....1
2. A brief overview of chosen company, and practical illustrations of how innovation has
impacted the operations, sales and the profits of your chosen company.....................................2
TASK 2............................................................................................................................................5
A. Evaluation the importance of Corporate Social Responsibility for Aston Martin Lagonda ..5
Application of Carroll’s (1991) CSR model to the organisation.................................................7
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Business environment is defined as addition of internal and external factors which are
related to environment and affected the business in dynamic environment. In a business
employees, management, customers, business regulations, supply and demand are consider as
important factors that needed to focus by management for the purpose of operating a business
and managing all activities (Čepel and et.al., 2018). For management it is important to analysis
the environment and make right business decision which can help to operate the business and
attain the business goals. In organisation, innovation is important that can help to attracts the
customers by providing variety of products and services. This reports is based Aston Martin
Lagonda (Plc) company that is auto mobile company, selling different types design of cars to
their customers and manage the organisational performance by increases sales and improving
profits. This reports is considering how innovation take places in product, services and business
models. Moreover, in task 2 it covers CSR activities which are important to meet ethical, legal
and commercial expectation sets by society.
TASK 1
1. Understanding of innovation, and the role of technological change in economic progress.
Innovation meaning is to bring something new and attractive in organisation so customers
remains attractive and make decision to buy the products and services. This is important for
organisation to operate the business and run it effectively by managing all activities and
operating the business in challenging environment (Eling and Schaper, 2017). Innovation
become important for organisations as it plays the role of technological changes in economic
progress. Aston Martin Lagonda is larger size auto mobile company where managers are analysis
the environment and bring new technology in their process and design of cars that attracts the
customers and make happy to them after buying such products. The role of innovation and
technological changes in economic progress are as defined:
It is playing a role of production – Technology and innovation is important for
organisation which helps to make the easiest way for business concern to operate their business
and manage their activities properly. The managers of Aston Martin Lagonda bring technological
changes in design and manufacturing process of cars that helps to remove the human
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