Impact of Technology and Innovation on Profit, Growth, and Sales of Next Plc

Environment final

EXECUTIVE SUMMARY
The report tells evaluate about the business environment which means that organisation
have to analyse both the internal as well as external factors so that they can compete in business
environment. This stated that there are some innovation and technological changes which help
organisation to develop strategies and adopt them in an effective manner.

Contents
EXECUTIVE SUMMARY.......................................................................................................................2
INTRODUCTION.....................................................................................................................................4
MAIN BODY.............................................................................................................................................4
Explain the impact of technology and innovation and asses how this affect the profit, growth and sales
of selected organisation...........................................................................................................................4
TASK 2.......................................................................................................................................................6
Assess the significance of corporate social responsibility in context to selected organisation.................6
Introduction of Archie Carroll’s Pyramid of CSR...................................................................................7
CONCLUSION..........................................................................................................................................8
REFERENCES..........................................................................................................................................9

INTRODUCTION
Business environment is an environment which means that there are many factors that
need to be considered while developing and expanding their business. To analyse the business
environment is very necessary which means that it help organisation enhance their productivity
and efficiency in organisation (Ali, 2019). Moreover, with the help of this analysis organisation
can easily identify the threat so that they can overcome and make effective decision making. In
the given report, Next Plc is taken as a base consideration. Next Plc. is a multinational British
organisation which operate in various countries which are UK, Asia, Europe and other and have
500 stores. They distribute different products which include home products, footwear and many
other accessories. The report includes the impact on technology and innovation and it also
include that how it impacts the profit, sales and growth of organisation. There are some
importance of corporate social responsibility and the model for CSR which is Archie Carroll’s
model.
MAIN BODY
Explain the impact of technology and innovation and asses how this affect the profit, growth and
sales of selected organisation
Technology and innovation is one of the most effective part of organisation so that they
can achieve their business objectives successfully. If organisation do not adopt the technology,
then it will hinder the growth and success and if they adopt appropriate technology then they can
compete with other organisation. With the reference to Next Plc, they have developed strategies
so that they can innovate new goods and services in order to reduce the work cost. The selected
organisation has to increase their turnover which can be done on the basis of creativity made by
organisation. Some of the factors that contribute to the success of organisation and growth of
nation which is explained in detail below:
 Build relationship with customers: The technology and innovation plays a significant role in
maintain the relation with their customers. In relation to Next Plc., they change their goods
and services which is managed and assessed by management of organisation which lead to
increase in sales and revenue of organisation.