Importance of Corporate Social Responsibility for TUI plc

Business Environment

Table of Contents
INTRODUCTION..........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Demonstrate an understanding of different types of innovation and technology and how they
have impacted the economic progress of the country, using the example of TUI plc................1
TASK 2.........................................................................................................4
Discuss the importance of Corporate social responsibility for the company...................................4
CONCLUSION................................................................................................................................7
Refrences........................................................................................................8
Books and jounals.............................................................................................8

INTRODUCTION
Business environment is a term which defines the environment of the business where the
business performs the several operations and functions(Zaman, 2018). Business environment
consist of the customers, government, stakeholders, supply and demand all these factors have a
great influence on the decision making of the business and also in creating the ethical and
innovative business environment. The present report is on the business environment of the "TUI
Plc" world's leading tourism group. The company is the German multinational travel and tourism
company headquartered in the Hanover, Germany which comes under the hospitality and tourism
industry. The company has 1600 travel agency, tour operators, leading online portals, 5 airlines
with around 150 aircrafts over 400 hotels 15 cruise liners and many other agencies in all holiday
destinations around the globe. The report outlines the different types of innovations and
technologies and their impact on the economic progress of the country as well as of the TUI Plc.
The report also describes how the innovation and technology is impacting the operation, sales
and the profits of the TUI Plc. Further in the report importance of corporate social responsibility
within the organisation for which Archie Carroll’s Pyramid model of CSR is been applied to
demonstrate the understanding of the four key responsibilities.
MAIN BODY
TASK 1
Demonstrate an understanding of different types of innovation and technology and how they
have impacted the economic progress of the country, using the example of TUI plc
Innovation and technology
For the growth and development of the business environment it is very necessary for the
organisation to adopt the concept of innovation in their organisation (Chan, Berger and Man,
2020). In the business environment innovation is termed as the development of new product or
service in order to improve the existing product or service by implementing the innovative ideas
into practical representation. The main reason behind the innovation is the development of
technology. It is stated that innovation is highly dependent on the technology and also
technology is driving force behind the new innovation. Hence, Innovation and the use of latest
technology within the organisation not only provide the company with higher profitability and
productivity but also helps the organisation in gaining competitive advantage in the market.
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Contribution of innovation and technology of TUI Plc to the economic growth of the country
Innovation and technology these two things are valuable for the development of the country.
Innovation helps to bring new changes in the market which are being demanded and the
technology helps the companies to do their marketing and also promote innovation with the help
of upcoming new technologies(Tseng, Yi and Yeh, 2019). Innovation helps to bring higher
productivity in the market which brings benefits to the consumers. Tourism industry is not just
the business but it is also a source of revenue for the governments and the tourism plays
important role in the economic growth of the country. TUI plc have offered variety of services to
its customers fully integrated tourism business with innovative and unique holiday experiences
and the bookings. TUI plc have always to be attractive in offering the services with dynamic
packages and with some new offers. The company have used the innovative feature of providing
its customers a smart wristband which gives them amazing and inconvenient trip experience. As
more and more users do their booking form TUI plc it increases the revenue of the company. Not
just the revenue of the company but it increases the growth of the country as many people of
other countries come to travel because of the new and innovative features making investment in
the country which helps in rise of GDP which ultimately result in economic growth.
Explain how TUI plc use new technologies in their business
Technology and innovations are the two areas which helps the company to achieve future
growth and attain competitive position in the market. TUI plc operates its business in many areas
from Hotels and resorts, to cruise, musement, airlines and many more(Schaltegger, Hörisc and
Freeman,2019). Theses all areas of business requires new and updated technology otherwise they
would not be easy to operate by the owners and they also know that innovation and updated
technology has to be brought. In the cruise the company have brought the DJ robot which is
unique technology use and this robot do all the work like the person. It moves with the music and
respond with the music and changes the music according to the requirements of individuals. In
their hotels also the company have brought various technological improvements by using smart
reserved parking which allows the guest of hotel to reserve their parking space prior to coming to
hotel so that they can have the space. Hotels room are accessible with their mobile phones and
not just with any keys or smart cards. The smart feature can be used by the guests when they
arrive the hotel which helps them to remain flexible as earlier when the keys were lost they have
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