Importance of Innovation and Technology in Kingfisher PLCs

This report discusses the impact of innovation and technology on Kingfisher PLCs, including its effects on sales, profitability, and growth. It also explores the importance of corporate social responsibilities and how they contribute to the company's competitive advantages. Additionally, the report examines the application of the Archiee Caroll CSR model to Kingfisher PLCs.

Business Environment
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
ASSESSMENT TASK -1................................................................................................................3
A) Impact of innovation and technology.....................................................................................3
ASSESSMENT TASK -2................................................................................................................6
A) Evaluation of importance of corporate social responsibilities for Kingfisher PLCs..............6
B) Application of Archiee Caroll CSR model to Kingfisher PLCs.............................................7
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................9
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INTRODUCTION
Business environment is an collection of all internal and external factors like needs and
expectancy of customers, government policies or activities, innovation in technology and market
trend. All these internal and external factors keep on changing that impact positively and
negatively on growth and sustainability of enterprise in longer time frame. This report is about
Kingfisher PLC Plc that is British Multinational retailing company having its headquarter in
London with 79000 employees that are working for benefit of firm. It has two parts among
which first consist of information related to impact of innovation and technology that affects
sales, profitability and growth of Kingfisher PLCs. The second parts consists importance of
corporate social responsibilities and the way it helped company in gaining competitive
advantages.
ASSESSMENT TASK -1
A) Impact of innovation and technology
The impacts of innovation and technology has been found to be widely large for
Kingfisher PLC within enhancing its business paradigms and informative functional pace
efficacy where larger scale functional diversity has been competitively working on bringing keen
efficacy profoundly. Kingfisher PLC with regional offices has been located across United
Kingdom, Poland and Romania where the brand has been expanded within various parts of world
by serving people with larger innovation and competent functional grown evolving efficacy
among corporate culture. There has been dynamic efficacy analysed within functional
innovation, products and services with best technology scope metrics for bringing on best keen
efficacy and best services (Ganda,2019).
The impacts of innovation and technology has been competently improving functional
standards of larger dynamic growth operational metrics and informatively developing best
working aspects , where promotional aspect have been also widely evolving on new avenues of
work growth domains . It can be also analysed that impact on global marketing and dynamic
promotion efficacy aspects have been widely growing among corporate efficacy aspects on
which Kingfisher PLC widely focuses to be optimistic to train all employees widely. There have
been competent shift on varied dynamic domains to train employees vividly and also upscale
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networks of working efficacy within longer run on where businesses have been prominently
growing and also up scaling functional standards productively. The use of innovation and
technology also productively motivates employees to be skilled, competent and widely
informative for keen leveraging metrics for harnessing productive efficacy within longer run.
Kingfisher PLC has been widely growing and entering onto various untapped horizons on global
domains, where various revenue standards have been also productively worked on, which
quickly brings on potential metrics to be framed on among work domains actively.
Profits and growth productively brings on target market to be expanded among working
efficacy on which Kingfisher PLC widely avails larger new profound work growth. There has
been also wider scope expanded among new horizons where technology has opened up varied
domains and informative pace for bringing on larger scale market of consumers to be expanded
further. Innovation and technology also profoundly brings on keen new profound goals to be
operated on profits, where Kingfisher PLC has been competently focusing ahead for keen new
targets to be framed on for new competencies to be explored. The technologies and new
profound functional pace has enabled consumer’s services to be widely competent, evolve on
new aspects and also promote keen targets to be framed on. Within retail competitive industry
globally, there are various companies widely taking informative functional pace for commercial
profound new technology standards within productions and machinery to be evolved on larger
domains on which Kingfisher PLC has been actively taking larger pace (Demirdöğen and
Işik,2019). It can be also idealised that there are varied new domains which are actively explored
by Kingfisher PLC for commercial growth targets and technical innovation on which various
strategic vision enables business scale to be developed on widely. The brand has been also
operating strategic functional enhanced functional domains development which yields higher
focus for informative strength targets. Retail industry has been widely moving on among
competitive aspects when it comes to fundamental usage of technology parameters and wider
functional usage of technology for best marketing has been actively growing, also there has been
competent push coming on innovation scope goals (Crowley and Bourke, 2018).
The public retail company Kingfisher PLC, aims to be one of the best evolving brand
within innovation and technology standards, where evolving scenarios of best capital
investments functionally bring on larger vision oriented efficacy profoundly on longer scale. It
has been also competently working ahead to bring on dynamic shift within production o best
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goods and also competitively expand new domains of work growth goals widely, which keenly
brings on best working efficacy on various grounds. There has been also productive diversity
within training employees and also to bring on leveraging efficacy profoundly, where varied new
informative pace has been competently growing. It can be also analysed that Kingfisher PLC
within retail industry aims to enhance working diversity efficacy among consumers market
strengths and also evolving functional pace for keeping up informative goals profoundly.
Managers have been keenly evolving on varied aspects of informative diversity among work
fundamental aspects where functional growth diversity has been competently active for keen
targets evolving efficacy. It has been providently focusing further to enhance its market efficacy
productively for forming new scope emergence within new quest goals, where innovation has
opened up various pathways for active growth operational metric (Alexander and Joe eds.,
2019).
There are varied growth efficacy opened on within business objectives where
fundamental diversity peeks on growth goals to reach larger consumers market scenarios, to
productively reach best revenue profits targets and also frame best goodwill. Kingfisher PLC
PLC as one of the best brand widely growing on best targets profoundly within global scenarios
aims to be widely evolving on best horizons for commercial efficacy, which has been also
competitively growing for new horizons profound growth and new larger scale determined
standards. The supply chain management of brand has been also widely growing on varied
efficacy avenues for serving consumers with best working standards of innovation and technical
growth, on which retail industry aims to be widely optimistic for digital platforms reach. There
has been also primitive efficacy profoundly analysed among business metrics where commercial
growth diversity has been optimistic and widely also competently demanded among working
evolution for keen growth goal within enhanced domains. It can be also potentially analysed that
there are varied aspects of functional diversity within business targets taking profound functional
pace among working operational metrics on which keen new quest horizons are strong.
Kingfisher PLC PL has been actively also harnessing innovation productively for technical
market domains reach among consumers and also to be leveraging keen targets of sustainable
competitive diversity to be acclaimed among work domains. It can be also productively analysed
that it aims to be also informatively wide and competently stronger within its consumers services
handling, keen profound efficacy within longer run and be optimistic (Agarwal and Brem, 2017).
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So, it can be understood from above analysis that Kingfisher PLC through adapting
innovative technologies such as digital platform to market its products and services is able to
enhance customer’s satisfaction. It is able to aware maximum number of individuals in minimum
number of time thereby influencing new and new individuals to select Kingfisher PLC for
satisfaction of their respective requirements.
ASSESSMENT TASK -2
A) Evaluation of importance of corporate social responsibilities for Kingfisher PLCs
Corporate social responsibility specific the way company operate its function in external
environment that helps in dealing with numerous social and environment issue so that
individuals can have better lifestyles. In another words, it can be illustrated that enterprise needs
to careful consider environment, human right and society while taking any decision. There are
many reasons that clearly stated why CSR is important for Kingfisher PLCs such as:
Contribute in building strong brand image: The first and foremost benefits or importance of
CSR for organisation is that it helps in creating awareness among large number of individuals.
Such as Kingfisher PLCs through promoting activities that are beneficial for people or following
ethical value in the workplace is able to make customers as well as employees satisfied and
happy. People through CSR activities of firm get aware of its range of products and services
thus select best possible among them for satisfaction of their needs (ernández‐Gago, Cabeza‐
García and Godos‐Díez, 2020).
Employee retention and engagement: In recent scenario, most of the employees like to work
with organisation that followed ethical value and principle so that no undue pressure or harm can
be caused to them. Kingfisher PLC’s management through providing health and friendly
working environment to employees is able to motivate them to put their best so that company can
gain competitive advantages in retail sector of United Kingdom. It by providing equal
opportunities to all employees to share their innovative and creative idea is maximise their
engagement level thus new method can be used to delivered better services to end customers.
Ethical value, respect and recognition or importance given to each employee by management has
helped in building strong relationship with them thus reducing employment turnover rate.
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Cost saving: It can be stated that corporate social responsibility is also important as it help in
saving overall cost of organisation. Like Kingfisher PLCs by using new and new technologies to
delivered services or promote sustainable management is able to reduce cost that is incurred in
order to provide services to large number of individuals (Anser, Zhang and Kanwal, 2018).
Company by reducing amount of wastage of products or raw material is able to save cost and
enhance its profitability by meeting expectancy of customers beyond their needs.
Contribute in making loyal customers: The biggest advantages or importance of implementing
CSR activity by Kingfisher PLCs is that it helped in building loyal customers that are ready to
prefer its services rather than other competitors in market. Kingfisher PLC through social
responsibility and abiding to ethical value is able to influence existing and new individuals to be
with organisation for longer time frame.
Increase sales volume and profitability: Another importance of CSR for Kingfisher PLCs is
that it contributed in generating more sales volume and revenue within organisation. It has been
founded that 85% of people are influence to buy form organisation that undertake activities that
are beneficial for them. Thereby, Kingfisher PLCs through promoting sustainable management
and optimum use of resources is able to add more and more customers in the organisation and
enjoy high profitability.
B) Application of Archiee Caroll CSR model to Kingfisher PLCs
Archiee Caroll CSR model is framework that helps in understanding the way company
has effectively meet its social responsibilities in order to make customers happy and satisfied so
that they are motivated to be part of organisation. Caroll CSR has stated four principle that has
been abided by Kingfisher PLCs to promote corporate social responsibilities and to enhance its
market share in retail industry. The way four principle and responsibilities implemented by
Kingfisher PLCs can be stated as follows:
Economic responsibility: It can be stated that most of the companies are established in order to
earn maximum profit margin by delivering qualitative products and services to end customers.
In 2019, Kingfisher PLCs has generated net income around £218 million and revenue approx
£11,685 million that helps in paying salaries and wages to employees that has worked hard for
great success of organisation. Company always tried to make optimum utilisation of available
resources so that maximum value can be delivered to end customers (Nielsen and Thomsen,
2018). It has also tried to get raw material at minimum price possible so that products can be
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offered to lower price top end users for satisfaction of their respective wants. Therefore,
Kingfisher PLCs through trying to bring economic of scale is able to deliver more value to
individuals at reasonable price thereby increase its overall profitability and market share.
Legal responsibility: It is another principle of corporate social responsibility that specific
whether the company has abided to all rules and regulation or not. Kingfisher PLCs has followed
several legal laws in order to grow and promote its business operation in external environment
such as employment law, health and safety law, tax regulation and accurate showing of profit
and loss to stakeholders. So, that no harm or loss can be caused to them in future circumstances
thereby company by abiding to law and regulation made by government has make employees
and customers happy and satisfied (Rivera, Bigne and Curras-Perez, 2016). It has also offered
safe and secure working place to employees, follow principle of equality that has helped in
providing opportunities to all individuals to make use of their existing skills for growth of
business operation. Thus, legal principle has also contributed in building strong brand image and
adding more and more people to the organisation.
Ethical responsibilities: Due to increase in malpractices and unethical behaviour of several
organisations, customers have forced company to behave in true manner so that they can prefer it
rather than other competitors in market. Kingfisher PLCs while operating its several business
functions has abided ethical value, moral principle and belief so that no disadvantages can be
caused to any individuals that are living in society. Like it has provide appropriate wages and
remuneration to employees that have put their efforts for growth and success of organisation.
Systematic code of conduct and procedure are followed so that no unethical practices or
discrimination among individuals can be happened on basis of caste, religion and gender.
Kingfisher PLCs has also ensured that it continuously take steps towards provide better services
to customers so that they are motivated to be part of firm for longer time frame (Bouraoui and
et.al., 2019). Therefore company by properly treating its employees, suppliers and customers or
key stakeholders is able to gain and retained differentiate positioning in minds and hearts of
individuals.
Philanthropic responsibility: It is a principle or corporate social responsibilities in which
company give back to society in terms of donation, volunteer work etc. There are many large
businesses that have completed their Philanthropic responsibility in order to promote business
operation and fulfil needs of customers. As per view of Kingfisher PLCs if it is not involved in
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the “charity or community involvement “than organisation is not part of society. So, company
need to involve in all activities of society or invest their capital in social benefits to promote and
sustain business for many years (Hasan and Habib, 2017). Thereby, company has planned to take
key steps such as to recruit women at workplace, provide customised training to homeless
individuals so that they have support to run their house and life better lifestyles. It has also take
steps toward providing more and more education to each and every students so that it can
opportunities to grow in future career. At last Kingfisher PLCs has also tried to minimum
amount of wastage production so that no harm or damage can be caused to external environment.
CONCLUSION
It can be concluded from above report that innovative technologies has contributed in
growth and expansion of Kingfisher PLCs by increasing its sales volume, customers satisfaction
level and profitability of organisation. Corporate social responsibilities have also helped in
generating awareness of company among large number of customers that are staying in different
parts of the world. At last it can be stated that company through effectively changing its
strategies as per external environment is able to gain competitive positioning.
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REFERENCES
Books and journals
Agarwal, N. and Brem, A., 2017. Frugal innovation-past, present, and future. IEEE Engineering
Management Review, 45(3). pp.37-41.
Alexander, B. and Joe, T. eds., 2019. Managing Innovation: What Do We Know About
Innovation Success Factors? (Vol. 33). World Scientific.
Anser, M. K., Zhang, Z. and Kanwal, L., 2018. Moderating effect of innovation on corporate
social responsibility and firm performance in realm of sustainable
development. Corporate Social Responsibility and Environmental Management, 25(5).
pp.799-806.
Bouraoui, K and et.al., 2019. Corporate social responsibility and employees’ affective
commitment. Management Decision.
Crowley, F. and Bourke, J., 2018. The influence of the manager on firm innovation in emerging
economies. International Journal of Innovation Management, 22(03). p.1850028.
Demirdöğen, G. and Işik, Z., 2019. Environmental scanning approach to assess innovation and
technology transfer performance of construction companies. Tehnički vjesnik, 26(3),
pp.617-624.
ernández‐Gago, R., Cabeza‐García, L. and Godos‐Díez, J. L., 2020. How significant is corporate
social responsibility to business research?. Corporate Social Responsibility and
Environmental Management, 27(4). pp.1809-1817.
Ganda, F., 2019. The impact of innovation and technology investments on carbon emissions in
selected organisation for economic Co-operation and development countries. Journal of
cleaner production, 217, pp.469-483.
Hasan, M. M. and Habib, A., 2017. Corporate life cycle, organizational financial resources and
corporate social responsibility. Journal of Contemporary Accounting &
Economics, 13(1). pp.20-36.
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Nielsen, A. E. and Thomsen, C., 2018. Reviewing corporate social responsibility
communication: a legitimacy perspective. Corporate Communications: An International
Journal.
Rivera, J. J., Bigne, E. and Curras-Perez, R., 2016. Effects of corporate social responsibility
perception on consumer satisfaction with the brand. Spanish Journal of Marketing-
ESIC, 20(2). pp.104-114.
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