Impact of Innovation and Corporate Social Responsibility on Business Environment

Business Environment

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Task 1...............................................................................................................................................3
Innovation and technology...........................................................................................................3
Impact of innovation on the operation, profit and sales of the company.....................................4
Task 2...............................................................................................................................................5
Importance of corporate social responsibility..............................................................................5
Archie Carroll’s Pyramid of CSR................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................5

INTRODUCTION
Business environment is the combination of macro environment of the company like
employees, consumers demand, owners, suppliers, government activities etc which can affect the
productivity of the company in the economy. It is very significant for the business to identify the
demand of the customers because if customers will not be satisfied with the services of the
business then goals of the business will not be achieved effectively. organisation should develop
its services as per the trend which is rising in the economy so that demand of the business can be
increased in the market and more profit can be earned. Developing the services of the business
will enhance of the goodwill of the business in the economy on the basis of which productivity
of the company will also be increased in marketplace.
Tui plc is one of the best travel company in UK it was founded on September 3, 2007by the
merger of first choice holidays plc its headquatered in Crawley England Uk. This organisation is
currently working in 180 countries due to which its profit is more in comparison to the other
enterprises. it provides the luxurious services to tourist in the marketplace due to which people
get attracted easily by the services which is given to the consumers in the marketplace. In this
report it will be observed that in what ways business environment can affect the functioning of
the organisation in the marketplace (Chang, 2018).
MAIN BODY
Task 1
Innovation and technology
Innovation is the human centered process which helps in developing the services of the business
in the marketplace. technology helps in the innovation process so that effective output can be
provided to the customers innovation in the business cannot take place without technology
because technology helps in enhancing the services of the business. innovation in the business is
very important it helps in increasing the demand of the business by attracting the customers
towards the goods and services of the company. Innovation also helps in providing competitive
advantage to the business. before innovating the services business has to analyse the needs and
requirement of the customers so that services can be developed as per the need and requirement
of the customers. Organisation should invest in the use of the advance technology because
technology helps in enhancing the services of the business in the market which further helps in
increasing the profit of the business. innovation helps in the growth of the economy by satisfying
the needs and requirement of the customers in the business.
Innovation helps in the growth of the economy by enhancing the services which the economy is
acquiring. Innovation in the products and services of the company helps in changing the lifestyle
of the economy by fulfilling their needs and requirement in the more effective manner. It also