Business Environment Assignment - Britvic Plc and Brewin Dolphin
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Added on 2020-10-23
Business Environment Assignment - Britvic Plc and Brewin Dolphin
Added on 2020-10-23
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Business Environment
Table of ContentsINTRODUCTION: .........................................................................................................................1TASK 1............................................................................................................................................11. Define innovation and technology ........................................................................................1How innovation and technology have contributed to the economic growth of the country. ....22. Discuss how business organisations uses new technologies in their daily operations ..........2The new technologies used by the Britiv firm. ..........................................................................3Compare the before and after sales and profit of a firm before and after using newtechnologies. ...............................................................................................................................4.....................................................................................................................................................4..........................................................................................................................................................5Comment of findings:.................................................................................................................6TASK 2 ...........................................................................................................................................71. Explain corporate governance. ...............................................................................................7Detailed explanation of UK Corporate Governance with examples. .........................................7Explain 3 or 4 responsibilities of the Board of Directors. ..........................................................82. Corporate social responsibilities (CSR)..................................................................................8Studying of four areas of CSR as identified by Archie Carroll.................................................9Conclusions:...................................................................................................................................10REFERENCES................................................................................................................................1Books and journals......................................................................................................................1
INTRODUCTION: Business environment can be explained as all external and internal factors which affectthe smooth functioning of the organization including customers, employees, suppliers, demand ,management and business regulations. In the given report there are two types of companiesincluding Britvic plc and Brewin Dolphin. Britvic plc is a British soft drink firm located inHemel Hempstead. Whereas Brewin Dolphin is the largest British financial planning andmanagement investment firm holding around 39 officies across the globe. The CEO of thecompany is David Nicol and was founded in the year 1762, located in London, United kingdom.This report include meaning of technology, innovation and corporate governance and how theycontributed to the firms growth and success. Business previous and current sales and profits arecompared to examine the sales and profitability ratio in these years has raised or not (Bah andFang, 2015). Firm also focus on Uk governance in detail as well as some of the responsibilitiesdone by the board of directors. TASK 11. Define innovation and technology Innovation can be defined as a process of translating of thoughts, idea and newimagination into services or goods which is able to create value or that value which consumerswill pay top the seller. There are three types of innovation which are: product, business modeland process innovation. It includes deliberate application of innovation, various values fromresources and imagination that includes all steps by which new ideas can be generated and can beconverted into meaningful or useful product or services for the customers. In business innovationresults when idea or thoughts are applied by the firm in order to satisfy the demands,expectations and need of the customers. Technology can be explained as collection or allocation of methods, skills and processeswhich are the results of scientific knowledge put into practical use to solve problems. Computersand internet are the examples of technology. Some of technologies are sensors,industrialmachines, medical technology,space, robotics etc. Firm or general public uses technology toupgrade it's current position to one level up so that work gets easier and faster as well as bestoutcomes can be seen (Charter, 2017). In the era of 21st century technology is used in everysectors like, education sector, health and care sector etc. to improve the standard of living as well1
as to protect the data, other proprietary information and confidential documents That leads tocompetitive advantages. In other words it can be said that technology helps business to keep theirideas or thoughts away from competitors. How innovation and technology have contributed to the economic growth of the country.Contribution to GDP growth: Many findings have confirmed the positive effect of ICTon growth for example: 10% increase in broad band penetration is directly related with 1.4%increase in GDP growth in the raising market. The use of 3G connections has uplift the GDP percapita rate globally by 0.5% as well as company Britvic generates revenue of £117.1 millionwhich has indirectly raised the GDP of the country. Direct job creation: In the year 2012 Britiv purchased largest cider maker in US whichprovide huge number of job opportunities to many of the unemployed people. Example: In Usalone, information technology and computer jobs are expected to grow 22% upto 2020 and isable to grow 758,800 new jobs which indirectly raised the gross GDP of the country (Georgescuand Popescul, 2015). Business Innovation: Internet has served many job opportunities to across the globe andbecome a powerful marketing tool. Example: In OECD countries around 95% business areonline and provides new ways to reach out the customers to capture the market ratio.2. Discuss how business organisations uses new technologies in their daily operationsBritiv PLC has been benefited by the use of modern technologies in their daily operations are as follows:Faster comprehensive communications: Modern technology helps firm to sharerelevant information with the help of internet and email, faster to its team or customers as well asmade product or services move quickly across the globe. It also helps to save time and money ofthe firm and helps the organization to grow in the market with the help of modern technology. Increased use of the cloud: Innovation of the technology CLOUD has made work easierand faster for Britiv company as data and confidential documents can be saved on the app andcan be use4d at any point of time as and when needed. New Communication technologies: Continuous innovation in technology is rapidlybenefiting the firm Britiv firm as it makes easier and more effective speakers, coaches andexecutives of every kind make virtual presentations anywhere across the globe. 2
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