Impact of Innovation, Business Ethics and CSR on Johnson Matthew

This coursework discusses the impact of innovation, business ethics and corporate social responsibility (CSR) on Johnson Matthew, a chemical and precious metals industry. It covers the overview of the company, impact of innovation, and assessment of business ethics and CSR on modern business organizations.

BUSINESS
ENVIRONMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Overview of the company......................................................................................................3
Impact of innovation on the company....................................................................................3
Assess the impact of business ethics and corporate social responsibility (CSR) on modern
business organisations. ..........................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business environment refers to the inclusion of all external factors and internal factors
which affect the working of company(Coultress and Coles,2022). It also assures the company's
processes. The functioning of firm includes innovation to grow the business. Innovation is to
modify or update the product or services. It refers to the organization that proceeds to create a
new goods and render services to attract the customers and capture the market. This helps
companies to grow and differentiate an organisation's commodity. This is not restricted up to
goods and services but extent to the business strategy and business models which should be
upgraded and useful. This can be determined as introducing a brand-new goods and services. The
innovation and creativity goes hand in hand but can not be used as synonyms. To innovate a new
product, creativity is being used to produce an unique commodity(Kahn,2018).
MAIN BODY
Overview of the company
The Johnson Matthew was founded in 1817 and headquarters in London, England UK.
The company deals in the chemicals and technologies for pharmaceutics, auto-mobiles and
chemical processing. The founder of the firm was Percival Norton Johnson and George Matthew.
It is an industry of chemicals and precious metals. A company has been there for more than two
hundred years. In 2017 the organisation has celebrated the 200th anniversary of Johnson
Matthew. The vision of company is for present and upcoming generation , to provide a cleaner
and healthier world(Alves, Dieguez, and Conceição,2019). A number of employees working
there are more than 13,560 (2021). the company is located in more than 30+ countries across the
world.
Impact of innovation on the company
Innovation states the production of new goods or services, business models, strategies
and process. An innovation considers a new product with unique feature and modifying the
companies rules and regulations. To grow the firm and achieve the sales target company should
do something unique. In order to lead in the market firm has to attract the customers by
satisfying their needs. By doing innovation in the company the firm can achieve the sales target,
capture the market, lead in the market and increase their earnings. According to micro
perspective : the innovation is necessary in organisation for:

1. Competitive Advantage : It means to enhance the capability in order to compete with
the rivals. To lead in the market, organisation has to innovate. The booming firms make
their process, products and services according to the customer needs and dynamic market
situations. With the reference of Johnson Matthew PLC. , the company has unique vision
to achieve and the founders done hard work to achieve that. To achieve their goal they
introduced a catalysts which helps to clean the air we breathe. The workers who are
working in the industry they get harm through the different chemicals for them they made
an industrial working more prompt and prolong. The company make sure that whatever
the catalyst they manufacture in the industry should not harm any one and will get
suitable in the production process of their existing customers(Möller,Nenonen and
Storbacka,2020)
2. Increase production : To increase the economical growth, innovation and improvement
in technological helps to reduce the cost of manufacturing and leads to high product.
Improving the production and effectively working uses to spend less time on low impact
task and render the useful work. In the context of Johnson Matthew, the company has
improved their technology by companies scientist and spreading the good quality of air
across the globe. From the new inputs they remould their battery technology for auto
mobile industries. To meet the consumers requirement - high energy, less cost, fuel
efficiency, goods lifespan and easy to understand the system. The company has include
all this requirement in the catalysts, membranes, electrodes and gas diffusion layer. They
have knowledge of interaction of material and expertise, learnings of systems reaction in
real life applicants so they modified their products.
3. Developing and improving novel materials : The materials which are used in
construction and for scientific purposes are called novel materials. The company
produces the materials at low cost and modified them. The Johnson Matthew company
produces pgms and metallurgy. In 2021 the company used to recycle the platinum metals
to make the millions of catalytic converters. There are some important metals like
platinum- nickel which are used in many application to control emissions, fuel cells,
medical implants and jewellery(Tang, Park, Aggarwal and et. Al, 2020). So the company
is introducing a method to reuse and purify the metals to use continuously. The research
of pgms and their chemistry helps them in creating a new product and improving the

material and analysing at what circumstances this will work. They are also trying to make
the path which can be less costly to create the pgms elements by manufacturing them
from powders using applications or 3D impression.
4. The best clarity on materials : To get the better understanding on the input materials the
company higher the expertise or innovate something to get clarification on the products.
In relation to Johnson Matthew company, company has endowed in the Harwell science
complex, including synchrotron at diamond light source to produce the light. The
company can now do research on the material in unexampled over biological & physical
science. They have also collaborated with top universities which emphasis on novel
characteristics and modelling applications. They are using the application which furnish
them better performance, long lasting, cost effective and assuring that customers have the
trust in their catalyst product end-to-end their entire lifecycle.
5. Customisable and cost – effective : To survive in the market and to compete with the
competitors the company tries to attract the consumer and cat6er their needs. To fulfil the
clients desire, the customisation in product and the low cost of the product plays a major
role. The customer needs the product at low cost and worth it or can ask for
customisation in that. Considering the Johnson Matthew, in catalyst firm the designing of
material is important. The material which have large surface provides a support to
catalysts for coating. In the material heritage (1974) the company has their first emission
control catalyst ever produced in Royston, UK. And in 2021 they have introduced
hydrogen fuel cells for decarbonisation of vehicles. To enhance and improve the
product's performance, company has mixed the 3 components – scientist, engineer and
modellers to understand the atomic level of materials. With the help of operation engineer
a company can easily increase the production and make the goods which continuously
achieve their working goals.
6. Scaling Up : It refers to expand the project or innovative the pilot to reach their product
to most of the people. The Johnson Matthew company assemble all the subject matter
acquired from the research and experiment into a database chemical process flow-sheet.
In 1977 the company won the Kirkpatrick chemical engineering accomplishment award ,
& in 2020 company has introduced the joint technology for producing the isononyl
alcohol and won the invention award(Cinar,Altuntas,and Alan,2020). The company is

expert in effective using of industrial process need to make effective chemicals and add
on the worth for consumers and furnishing the advantage to customer and environment.
Along with this the company has a team which determine the experiment and designing
work in laboratory. They have a installation of mini plants to attempt the designs and
confident to retroflex the entire procedure. The plants helps in assisting the consumers in
grading up and effective process, save time and wealth.
7. Stability : To grow the firm stability should be maintained because if the stability is not
maintained it will possess negative impact in the market. If the company and the
employees are stable and provide quality product the consumer will approach to that firm,
which will increase the sales and helps to achieve the goals. With the regards of Johnson
Matthew, anterior the car's have catalysis finishing in their catalyst converter, in 2021
they have introduced and manufactured a membrane for Hydrogen fuel cell for
sanctioning the transition to net zero. The expertise have knowledge of chemicals state
and use this learning to create new composition for controlling emissions, designing
membrane and encourage the biocompatibility of pharma drug. The improvement in the
performance of modifying the surface, using the learning for sustainable technology for
future. The company offering the coating techniques and surfaces solution to improve the
outcome of product- as a result providing the customer solution – dependable,
accelerated, fine, long-lasting and profitable(Haizar, Kee, Chong and et. Al, 2020).
In a nutshell, the company has implemented innovative ideas and method to achieve their goals.
The firm has modified their products, introduced new materials to fulfil their clients need. The
company is leading in the market and to stay ahead they have updated their technologies,
ensuring to meet the clients requirements and their own vision. An organisation tries to cater the
consumers wants and also assure to take care of their employees. For society and environment
also company produces the products which does not harm anyone and keep the environment
clean and healthy.
Assess the impact of business ethics and corporate social responsibility (CSR) on modern
business organisations.
Business ethics is a framework used to make the legal rules and regulations in order to
argue on debatable matters. To maintain the decorum in organisation certain policies are made
which is to be followed by everyone. It states the right, wrong and appropriate activities to be

done in workplace. The principle of business ethics are : accountability, honesty, care and
respect, avoid conflicts, loyalty, compliance, relevant information, law abiding and fulfilling
commitments are mentioned in the code of conduct of business as a part of business ethics. The
business ethics of Johnson Matthew company :It includes the the companies principle, policies
and standard to perform the right thing in the organisation. The code of conduct is categorised
into 4 section: people's, markets, company and planets. The vision of firm is – cleaner and
healthier world for today as well as for future. And ambition is to be the best performing, trusted
chemical company across the world. The commitment is included in code of conduct to assure
that they are performing the right things(Barauskaite and Streimikiene,2021).
CSR is a corporate social responsibility it is a concept used in organisation, they incorporate
the social and environment responsibility in their firm and interact with shareholders. It is an
ides introduced in a company, the firm has to donate their some part for the society, environment
and economic areas. It is a give and take process, in this the organisation takes a lot from
environment and society so in return they have to give back. The examples of CSR is : donation
and sponsorship, functional initiatives, strategic modification. By adopting the corporate social
responsibility activity the company generate a positive impact, people assistance , stigmatisation
and consumer's loyalty.
Impact of business ethics and CSR on the Johnson and Matthew:
The company maintains the standard code of conduct and corporate social responsibility to
assure they work with integrity, transparency and care for individual's.
 International business and human rights: The company has their store in all over the
nation and some of the outlets have growth opportunity in their business. The firm
supports the principle of United Nations Universal Declaration of Human Rights and the
International Labour Organisation Core Conventions. The company's ethics includes the
clause related to human rights. The company assures that their issues are managed
effectively and increases the employee morale.
 Supply chain : The firm has introduced the new ethical and sustainable policy for the
suppliers. The main goal of this policy is to follow the value of sustainability by
supplier(Harrison, Ferrell, Ferrell and et. Al, 2019). It tells about the way of conducting
business and determine the outlook from suppliers. This will helpful for existing
supplier's also to work further and learn the impact of lifecycle over the supply chain.

 Technology incubation (2016-17) : The company has spend over 0.65 Cr for
technology centre in new Delhi. This can help to know how the company is profitable
and raise the employee morale at work area(Nguyen, Pham, Le and et. Al, 2020).
 Tree plantation : The Company has spent amount of 0.52 Cr for Tree Plantation
Activities in Maharashtra. This activity gives positive impact on firm it improves
customers retentiveness & loyalty.
CONCLUSION
It is concluded that the innovation leads to creativity. The company produces many
unique products in order to achieve their goals. They have done new startups, modification in
rules and regulation, policies and modify the existing materials. The company has kept the main
moto in mind is to cater the needs of customers in order to capture the market and to achieve
their goals. To lead in the market several CSR activities are also followed by company which
increases the company's value in market and put positive impact on the society. To maintain the
company's culture the firm has renew their code of conduct which is to be followed by employee,
staff and everyone. The company is engaged in corporate social responsibility and business
ethics which affect the company in positive way, leads to employee morale, human rights and
helps the company to achieve their vision.

REFERENCES
Books and journals
Kahn, K.B., 2018. Understanding innovation. Business Horizons, 61(3), pp.453-460.
Coultress, S. and Coles, S., 2022. Guest Editorial: Johnson Matthey and Diversity. Johnson
Matthey Technology Review, 66(1), pp.2-3.
Möller, K., Nenonen, S. and Storbacka, K., 2020. Networks, ecosystems, fields, market systems?
Making sense of the business environment. Industrial Marketing Management, 90,
pp.380-399.
Tang, G., Park, K., Agarwal, A. and Liu, F., 2020. Impact of innovation culture, organization
size and technological capability on the performance of SMEs: The case of
China. Sustainability, 12(4), p.1355.
Cinar, O., Altuntas, S. and Alan, M.A., 2020. Technology transfer and its impact on innovation
and firm performance: empirical evidence from Turkish export companies. Kybernetes.
Haizar, N.F.B.M., Kee, D.M.H., Chong, L.M. and Chong, J.H., 2020. The impact of innovation
strategy on organizational success: A study of Samsung. Asia Pacific Journal of
Management and Education (APJME), 3(2), pp.93-104.
Alves, D., Dieguez, T. and Conceição, O., 2019, November. Retaining talents: Impact on
innovation. In Proceedings of the 15th European Conference on Management,
Leadership and Governance, ECMLG (pp. 36-45).
Barauskaite, G. and Streimikiene, D., 2021. Corporate social responsibility and financial
performance of companies: The puzzle of concepts, definitions and assessment
methods. Corporate Social Responsibility and Environmental Management, 28(1),
pp.278-287.
Harrison, D.E., Ferrell, O.C., Ferrell, L. and Hair Jr, J.F., 2019. Corporate social responsibility
and business ethics: conceptualization, scale development and validation. Journal of
Product & Brand Management.
Nguyen, T., Pham, T., Le, Q. and Bui, T., 2020. Impact of corporate social responsibility on
organizational commitment through organizational trust and organizational
identification. Management Science Letters, 10(14), pp.3453-3462.