Impact of Innovation and Business Ethics on Modern Business Organizations

Business

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Impact of innovation on modern business organization.............................................................3
Impact of business ethics and corporate social responsibilities on modern business
organization.................................................................................................................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Modern organization itself describes the organization as boundary-less in terms of networking as
well as collaborating together. They have well suitable properties towards the innovation as well
as the organizational ethics in business practices. Modern businesses have become ideal among
the companies that wants to grow in the technical industries. This business report includes the
impact as well as the critical analysis of the of innovation upon modern industry and the way
company is facing changes due to the innovation are also included in this study. Moreover, the
business ethics and the complete practices towards the CSR activities are also included in the
study. Application of business concept to the company OCADO Group PLC have been added in
the report.
MAIN BODY
Company profile: OCADO group PLC is a technology leading platform using software and
robotics in the business to provide end to end unique solutions to the online grocery around the
world. OCADO now have a joint venture with Mark & Spencers in the UK. OCADO have latest
technologies and expertise, with these any company can create their own unique grocery
shopping services. These type of modern business are in a major demand nowadays.
Impact of innovation on modern business organization
OCADO Group PLC is also a type of modern business within the industry and there are various
factors among industries that have an influence over these modern businesses. Among them
innovation is the one. Introduction of the Innovation in the modern business have provided
technological growths to the industry in terms of the biggest improvement in life and as a result,
modern companies that are embracing innovation have advantages over meeting the demands of
customers (Gittins and Morland, 2021). Here are main critical factors are defined in the terms of
impact of innovation in modern business organization.
The innovation has various impacts upon the business organization among environment,
organization and the strategical categories.
Competitive advantages
The introduction of innovation among the modern businessn it have many more competitive
advantages Over the traditional business(Rodríguez-López and Souto,2020). Through

implimentationof the innovation, a larger firm tends to became a leader within thwe market. The
successful implimentation of the innovation with the technology leads the firm in the terms of
growrth. (Viriyasitavat and Hoonsopon, 2019). If the market is already too competitive within
the industry then the profit of the firms are very low generally but with the innovation within the
process leads the company towards a big decent growth in the terms of profit. OCADO have
been successful within the industry by innovating technologies as well as the Artificial
intelligence interface within the internal process. Through the IP the companty has developed,
assebling of the technologies within the business of OCADO became very profitable. The
introduction of AL had mazximised the operational wefficiency og the company and that
effeiciency lead the company towards the better customer experience and the growth of the base
within the customer population boosted up the growth scale of OCADO.
Organizational impact
 Instant reaction towards the changing conditions: The organizations within the
modern era facing the different challenges in the industry (Baykara, 2018). As the
government of the industry is changing the regulations are also changing frequently and
that is having a huge impact upon the businesses. With the changes among the
technological standards as well as the customer trends are affecting the pattern of
organization working. To become sustainable within the market, OCADO industries are
also adopting the eco-friendly as well as technical artificial intelligence techniques in
their routine (Ridoutt, Hendrie and Noakes, 2017). On the implementation of the
innovation in these practices OCADO Group PLC is reacting quickly towards these
changes and efficiently becoming successful as well.
 Market growth and gives the new identity: The biggest threat for any company is new
entrants offering the products at lower prices comparatively. To differentiate own
company from the new entrant the introduction of innovation became compulsory.
OCADO is providing unique solution to the companies to ease their approach to the
customer and product delivery to the customers. After all the growth of OCKADO, it is
now being listed withinh the top online grocery retailers in UK (Craft, 2021).
 New market development: Innovation provides ideas and the opportunity to enter a new
market by implementing new business models, strategies in the business. For the new