Assessing the Impact of Innovation and CSR on Moneysupermarket.com Group PLC

BUSINESS ENVIRONMENT: COURSEWORK
BUSINESS REPORT
Student ID: Type Student ID here
Word count: Type word count here
The word limit is 2500 words, not
including the table of contents,
tables, diagrams, reference list, and
appendices.
Academic year: 2021/2022

1.1. Executive Summary (250 words)
It is summarising that business environment is a collection of different internal as well as
external factors that consist customer needs, supply and demands, employees, suppliers,
innovation in technology and other aspect. This project report includes assessment impact of
innovation on modern business organisation. It consists research, application and analysis of
innovation in context to company. It analyses impact of business ethics and corporate
responsibility in context to modern business organisation. It also research, analyse and
application of business ethics and corporate social responsibility. Moreover, it includes
recommendation for business in order to improve business.

Table of Contents
1.1. Executive Summary (250 words)................................................................2
List of Figures.......................................................................................................3
List of Tables.........................................................................................................3
1.2. Assess the impact of innovation on modern business organisations (550
words)........................................................................................................................ 4
1.3. Research, analysis, and application of innovation to [Insert
your chosen company here] (450 words)...................................................5
1.4. Assess the impact of business ethics and corporate social responsibility
(CSR) on modern business organisations (550 words).........................................5
1.5. Research, analysis, and application of business ethics and corporate social
responsibility to [Insert your chosen company here] (450 words)............6
1.6. Recommendations (250 words)...........................................................7
1.7. References....................................................................................................7
1.8. Appendix......................................................................................................... 7

TASK
1.2 Assess the impact of innovation on modern business organisations
Innovation refers to practical implementation of ideas that leads to introduction of new product,
service or making improvement in existing products and service. It is concept which create
changes in entity with realisation and redistributing values (Abdullah and Mansor, 2018). It is
one of important element which focus on improvement, newness as well as spread of ideas as
well as technologies. It can be taken place through development in order to make thing more
productive like product, services, processes, art work and technologies. Innovation is important
for business for various reason which are as follows:
Increase market share: Innovation is something which allow business to implement new ideas
in business. It allows them to make improvement in existing business and introduce it to new
market. It makes product more effective and also allow business to expand their marketing share.
It allows them to increase target market of company and allow them to introduce new product for
different target customers.
Increase productivity: Innovation also increase productivity of business as in this business
adopt new technology which improve production efficiency of company. It is important for an
organisation to adopt innovation in order to improve their production capability. Innovation is
based on new technology which can be adopted in operation process of company.
Increase profitability: Innovation allow company to improve their operational efficiency and
also provide advantage to adopt something new in business (Agwu, 2018). It allows company to
build new product or making improvement in existing products.
Competitive advantage: Innovation allow company to develop distinct products and service
which allow them to differentiate products and service of company to from those of competitors.
It allows company to compete with other plyers in market which provide them opportunity in
market. It also allows company to produce products at large level which reduce their cost and
provide them competitive advantage to get more profit.
Innovation also provides various benefits to economy of a country in many ways it allows
company to produce a different product whch they can sell to other companies. It allows them to
bring foreign exchange for economy of a country. It also creates employment opportunity in
country as in order to products products, company needs to hire local employees which leads to