Impacts of Innovation and Technology on Kingfisher plc

This report discusses the impacts of innovation and technology on Kingfisher plc, including its effects on sales, profits, and growth. It also explores the importance of corporate social responsibility for the company.

Business
Environment

EXECUTIVE SUMMARY
This report discuss about the concept of Innovation and technology its impacts on Kingfisher plc,
and how it has impacted the company's sales, growth and profit. This report further discuss about
the importance of Corporate Social Responsibility for Kingfisher by applying Archie Carroll's
1991 Framework.

Table of Contents
EXECUTIVE SUMMARY ............................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Task1. ..........................................................................................................................................4
Impacts of innovation and technology, affects on sales, profits and growth - ............................4
Task 2...........................................................................................................................................7
Importance of social responsibility for Kingfisher Plc................................................................7
Archie Carroll's model of CSR....................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Business Environment refers to the collection of intrinsic and extrinsic factors that affect
the functions of company directly and indirectly. It helps in recognizing business opportunities,
knocking useful resources, help in planning and improves total performance, growth and
profitableness of the company.
Kingfisher plc is British Global Retail Company having its headquarter in London, UK and zonal
offices across France, Romania and Poland. It is one of the company among listed companies in
London Stock Exchange and have many stores in various countries.
This report evaluates the influence of innovation and technology and how IT affect the sales,
profits and growth of Kingfisher plc and also assess the significance of CSR for Kingfisher by
using Archie Carroll's CSR framework.
MAIN BODY
Task1.
Impacts of innovation and technology, affects on sales, profits and growth -
Technological Innovation is broadened notion of innovation. Innovation express adding surplus
steps of developing new services and products in market. Technological Innovation is the
process where a company embarks in the journey where significance of technology as a origin of
innovation has been recognized as the critical success factor for increased market competition
(Andriole, 2020). Technological Innovation indicates the business considerations, of improving
business enterprise value by working technological feature of products and services. New
technologies have become intrinsic component of work lives.
Impacts of Innovation and Technology on Kingfisher plc -
Increased Productivity of Company -
Operations of Company determines the several factors such as financial resources, managers and
Human labour etc. for all of these factors to work well , there has to be and interconnection.
Technology has made it possible by creating synergy in their work. For eg. Kingfisher
management have better records of every employee which tells them how to deal with them
more efficiently. On the contrary, employees have better tools and software to work with, which
results in business success.
Decrease in cases of Human Error -

A miscalculation can be costly to the reputation of company(Kim and Park, 2018). Luckily,
Kingfisher uses accurate application technology to detect the errors before it is too late. The
application is also used to predict the financial position of business in the future. In case of any
error, corrective measures can be implemented by Kingfisher priorly.
Made global communication possible -
Kingfisher is multinational company because of the influence of technology on its business.
Technology has fortunately made it attainable for Kingfisher to communicate with their peers in
different international countries and get practical solutions for their issues. It can communicate
through emails, private apps portals, company's own app etc.
Adoption of Technological Innovation saves time and money -
The way company is adopting changes for its business to run in smooth way not only saves the
time but also saves the money. The cost of technology is heavier sometimes but if adopting such
technology is bringing innovation in company or in its product, will be more cost effective in
near future (Kocak, Carsrud and Oflazoglu, 2017). Technology has replaced man's efforts and
made work more efficient.
New Solutions Increase Workplace Safety -
Kingfisher is always ready for the adoption of new technologies with the thought that innovation
through technology will make organization work more efficient. It uses technologies which
provide security on company's data. As the data security is extremely important for the company
it has all private informations related to the company and the customers, securing the data is
utmost relevant because the companies image is joined to it.
Improvement in Cross Communication -
In the global company like Kingfisher plc, many employees are employed and the organisation
structure followed is hierarchical through which problems arise if employees manually go and
discuss and communicate about any information to another level management. Technological
innovation has made the work simpler by providing employees common platform i.e. their
companies own portal through which communications can be done and privacy is maintained.
Platform helps in Optimizing the result -
Technology has provided the platform through which the work of employee can be channelized
and evaluated by it leader, through the evaluation of the work employee also gets to know his

performance results and can work for improving it and through the performance graph, he gets to
know about the area of improvement (Taddeo and et.al., 2017).
Facilitates Online Business -
Kingfisher with the help of technological innovation, it can provide its services and products of
home improvement online. It can facilitate its customer by giving them platform ; its website and
its own app through which the company can facilitate its customers by selling their products
online. And with the help of technology, it also advertises its business online and make people
aware of their business which will attract the online targeted audience. It provides them various
customers various innovative features on their mobile apps and websites for their ease.
Innovation & Technology affects Sales, Growth and Profit -
Company chooses the path of innovation and technology as it is the essential in today's work
environment for the growth of the business and to have a competitive edge on the rivals. Rapid
growth of the technology has given new insights to the business. Innovation is needed as the
customers today are more demanding and savvy in comparison. Company has to come up with
different innovative ideas in their products and services otherwise in the prevailing competition
in the industry customer easily shifts to different company(Mgunda, 2019). Kingfisher plc
provides its products through its stores and through its online business. Technology has
improved the sales of the company, previously company only had its offline customers which
came to their stores and buy the products of home improvement but now company through its
own website and app have customers who can order their products online. Sales of the company
largely depends upon the ability to successfully capture, analyse and manage customers of
customer data that contains insights into customer behaviour and buying platform. This is where
Kingfisher uses the big data analytics tool to get to know about the customer behaviour and
identify the potential customers and can offer them that product that they need and cater the
market. Company for the ease of the customers always come up with the some innovative
features so that they don't have any problem regarding the company products and services and in
case of these issues company can get out to them and their trust in the company can be
maintained (Mostaghel, 2016). Sales of the company are increased because of the advertising the
company on various social media platform, which has given kingfisher plc platform for attracting
more customers by engaging them in conversation abut its products and services for valuable
insight that could lead to sale in the future. There are two more innovative technology that has

boosted the sales of company is Cloud based technology and sales force automation. Through the
help of CRM technology, kingfisher gets the holistic view about integrate marketing and
customer support and using SFA technology has automated many tasks, freeing up sales
employees ion activities to generate more sales and revenue. Technology and innovation has
made the company more efficient and its employees more productive. Company uses these
technologies innovation to just increase the efficiency which directly lowers its expenses and
maximize the profit of the company and contribute in overall growth of the company.
Task 2
Importance of social responsibility for Kingfisher Plc
Corporate governance: Corporate governance code is a set of rules for good Corporate
governance which is for the companies that is listed on the London stock exchange. Under these
businesses are operated and controlled. It explains the factors of the business which can be
internal or external which affect the stake holder's interest which are the customers, government,
shareholders, suppliers and management. To form the corporate governance in the company is
the duty of board of directors which make it by considering company's objectives. Kingfisher Plc
follow good corporate governance (Ali, Frynas and Mahmood, 2017).
Corporate governance involves performance measurement, compensation decisions, contracts of
the company with stakeholders, disclosure practices, process for solving conflicts, action plans,
dividend policies etc. it should be a well-defined structure which work for the betterment of
everyone and is concerned for the company also and make sure that the company follows ethical
practices and formal laws. Bad corporate governance are the company who follow unethical
practices, poorly structured and damaging the brand of the company. Kingfisher Plc make sure
that the shareholders of the company are treated equally and no discrimination is their between
any of them.
They educate their shareholders about their rights and how they can use it. Company ensure that
all the necessary information are communicating to its investors, employees and other members.
Board of directors ensure transparency, fairness and accountability with the corporate
governance. Board of directors are elected by the shareholders. They protect the interest of
stakeholders. They evaluate future and present opportunities.
Importance of CSR:

Social responsibility is very important for the company it plays a vital role in the company.
Kingfisher Plc also carry out the social responsibilities which are:
Company opened zero energy store in UK. They also given product donations and had given
target to themselves related to carbon reduction. Company knows that if they carry out social
responsibilities then that will improve the brand image of the company and also help in attaining
trust of the people towards their company. Social responsibility also motivate the employees to
perform good which can lead to good productivity.
They also help to retain the customers which denote the long term success of the company.
Customers also got loyal towards the company and will ready to pay because they know that a
part of their money will be used by the company by doing social responsibility. By social
responsibility kingfisher plc attract those employees who want to create difference in this world.
It increases the morale and improve the productivity. Company improve their image in front of
the public and public got attracted towards the company who do social responsibility and buy
product from them. Public have a idea that company is not only into making profits but are
concerned about the society as well. Kingfisher plc do charity and organize awareness programs
which educate public regarding waste reduction and environment (Kamran and et.al., 2020).
Through carrying out this, brand awareness will increase and will create good customer base.
This can also reduce production cost of the company like by adopting sustainability by the
company which include using less packaging layer by the company. This will help company to
beat their competitors because consumer will buy products from them as compare to the
competitors because company is concerned about social factors so customer will help such
business to make revenue so that they can invest a portion of that in doing social responsibilities.
Company should publicize that they are doing social responsibility rather they should post on
their social media platforms, on their website and give advertisement for that. Company's efforts
should be known by people or society to increase their business.
Similar to the society company should make sure that their employee should also know about
their social activities so that employee get motivated and enjoy their work that they are working
in a good company who is having good image in the market. Sales of the organization increase
because of serving the society. Company will have positive impact on the society. Companies
also adopted sustainability by finding new technologies which decrease the operating costs.

Company can also use renewable energy while carrying about their production like solar energy
which will save money and also reduce pollution by them (Advantage, 2020).
Archie Carroll's model of CSR
Kingfisher Plc use this model to do the corporate social responsibilities. This model has 4
dimensions which are:
Economic responsibility: company have the economic responsibilities which are to be carried
out to sustain. It also include social responsibility and society expect this from the company.
Social responsibility can be carried out by the company only if it is making profits and giving
dividends to their stakeholders and money to carry their operations. People see business as a
profit making entity who make and sell products to carry their business (Lee, Chang and Lee,
2017). People help company to make profit by purchasing their products. Kingfisher Plc carry
out many economic activity and attain financial effectiveness by cost reduction, strategies,
attention towards the revenue, investments, operations, marketing etc. to ensure the long term
success of the company. In this competitive world economic responsibilities should be meet by
the company.
Legal responsibilities: kingfisher Plc follow all the rules and laws of the government. These are
the regulations which regulate the businesses and company have to carry their business by
following these. Legal rules ensure that business carry out fair practices and no unethical practice
should be adopted by them. Strict regulation is their by the government who do not follow legal
laws. Company should ensure that they are following all the guidelines given by the government
and following all laws given by central, state or local government. Legal obligations should be
fulfilled by the company. Kingfisher plc make their products by keeping in mind that they are
meeting legal requirements. Laws can be related to employment, health and safety etc.
Ethical responsibilities: laws are very important but it is not sufficient. Society expect from the
company to not follow any unethical activity while doing their business. Kingfisher plc believe
that it is the moral responsibility of the company (Haris and Purnomo, 2017). Eg company
should treat their employee equally and do not exploit them. Salary which they are providing to
them should justify their work. Ethical responsibilities means that company basic norms and
standards while doing business which are not mentioned in the laws. Business should carry about
their operation in the fair manner any unethical practice will not tolerate by the society. If
company operate unethically can reduce their profits because they will lose trust of the public.

Philanthropic responsibilities: it means that company should give back to the society because it
is the society only who is helping company in making profits. Kingfisher plc fulfil it
philanthropic responsibilities timely like doing charity and giving donation etc. this is the
voluntary activity done by the company. It creates good image of the company in front of public.
Giving extra benefit to the company.
CONCLUSION
Through this report it can be concluded that social responsibility plays a vital role in the long
term survival of kingfisher plc. To adopt new technology and innovation is also another
important thing, technology reduce the cost of the company and innovation help the company in
generating more revenue. Financial issues of the business is identified and CSR model is
discussed in context of organization.

REFERENCES
Books and journals
Advantage, C., 2020. Corporate Social Responsibility. CSR and Socially Responsible Investing
Strategies in Transitioning and Emerging Economies. p.65.
Ali, W., Frynas, J.G. and Mahmood, Z., 2017. Determinants of corporate social responsibility
(CSR) disclosure in developed and developing countries: A literature review. Corporate
Social Responsibility and Environmental Management.24(4). pp.273-294.
Andriole, S.J., 2020. Innovation, Emerging Technology, and Digital Transformation. IT
Professional. 22(4). pp.69-72.
Haris, A.M. and Purnomo, E.P., 2017. Implementasi CSR (Corporate Social Responsibility) PT.
Agung Perdana Dalam Mengurangi Dampak Kerusakan Lingkungan. Journal of
Governance and Public Policy.3(2). pp.203-225.
Kamran, H.W. and et.al., 2020. Measuring the association of environmental, corporate, financial,
and social CSR: evidence from fuzzy TOPSIS nexus in emerging economies.
Environmental Science and Pollution Research. pp.1-14.
Kim, Y.K. and Park, S.T., 2018. Impacts of innovation motives and activities on innovation
Performance. Indian Journal of Public Health Research & Development. 9(8). pp.585-
591.
Kocak, A., Carsrud, A. and Oflazoglu, S., 2017. Market, entrepreneurial, and technology
orientations: impact on innovation and firm performance. Management Decision.
Lee, C.Y., Chang, W.C. and Lee, H.C., 2017. An investigation of the effects of corporate social
responsibility on corporate reputation and customer loyalty–evidence from the Taiwan
non-life insurance industry. Social Responsibility Journal.
Mgunda, M.I., 2019, December. The Impacts Information Technology On Business. In Journal
of International Conference Proceedings (Vol. 2, No. 3, pp. 149-156).
Mostaghel, R., 2016. Innovation and technology for the elderly: Systematic literature review.
Journal of Business Research. 69(11). pp.4896-4900.
Taddeo, R., and et.al., 2017. Industrial symbiosis, networking and innovation: The potential role
of innovation poles. Sustainability. 9(2). p.169.
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