Importance of Corporate Social Responsibility in Aston Martin

BUSINESS ENVIRONMENT

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
A. Impact of technological innovation on economic growth of a Nation...................................3
B. Impact of Innovation and Technology on Aston Martin Lagonda..........................................5
TASK 2............................................................................................................................................7
A. The importance of corporate social responsibility..................................................................7
B. Carroll’s CSR model:..............................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

EXECUTIVE SUMMARY
Report describe technology and innovation support in the growth of organisation as well as
country. Technology and innovation helps in increasing quality, efficiency and productivity of
the Aston Martin Lagonda and hence increase the revenue and profit which supports economic
growth of the country. Carol’s pyramid of CSR provides various method for company inclusion
in social responsibility for example providing funds in poor student’s education and
development.
INTRODUCTION
Business environment refers to all the internal and external factors affects the performance
and overall growth of the company. It also affects the employees, supply and demand, customers
of the company. It also includes the relationship of the companies with the customers in the
market.
Aston Martin is the best manufacturer of the luxurious cars. This company was found in the
year 1913 by Lionel Martin and Robert Bam ford. Aston martin deals with more than 150
dealership. It is public limited company. The brand image of the company is very high.
In this report, it is described about the innovation and implementation of the new ideas in the
organisation. Porter theory of innovation is also defined and the ways innovation can take place
in the product, services and business models. It also described the importance of the corporate
social responsibility and the theory of Carroll’s model is also discussed in the report.
TASK 1
A. Impact of technological innovation on economic growth of a Nation
Innovation refers to change or development in the process or product in the organisation. It
helps in the growth of quality, efficiency and productivity of the product as well as growth of the
organisation. Company gains competitive advantage as well as increase the profit by attracting
large number of customer through innovation. Technology defines as a scientific knowledge and
its application transformation for practical purposes. It helps in creating things simple at
workplace as well as increase efficiency, quality and productivity of workforce and work.
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Innovation plays significant role in the economic growth of the country. Innovation increase the
opportunity to companies expand and explore and helps in increasing revenue and profit which
ultimately adds in economic growth of the organisation. One of the advantage of innovation is
higher productivity means for the same input generates greater output and increasing
productivity increase in the number of goods and services which increase the profit and
contribute in economic growth of the country. For example innovation of electric and automated
vehicle in automobile industry attracts large number of customer which ultimately increases the
revenue of organisation and at the end contributes in economic growth of country. With the
advancement in technology quality, efficiency and productivity of product increase and on the
other hand it helps in reducing time and other complexity. Advance technology produce greater
output with higher quality and reduce price hence increase the consumption of customer.
Increasing demand of customer rise the profit of company ultimately hikes the revenue of
government and hence support in the economic development of the country. Technological
advance country attracts large number of investors and companies around the world and
generates higher revenue through it. For example UK is one of the biggest technology countries
and attract organisation like Facebook, Google etc. for the investment and opportunities and
hence increase foreign direct Investment. Technological advance countries companies sell
variety of products and services around the world which increase export market and hence
increase incoming fund support economic growth of the country. There are number of
technologies use by organisation for the growth. Introduction of new technological machines in
the organisation increase the efficiency of work as well as workplace (Wu, Ma and Zhuo, 2017).
For competitive advantage company maximize technology to attract large number of customer
for example introducing 5G in the market of 4G increase the growth of 5G Technology
Company (Broughel and Thierer, 2019). Company adopt different technology in work to reduce
human effort and increase quality of work. Digital technologies for example opening of online
stores helps in reaching more customer on the other hand it reduce time of organisation for
attaining large number of customers.
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