Technology and Innovation | Assignment
Added on 2020-11-12
12 Pages3501 Words244 Views
BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................11. Innovation and technology.................................................................................................12. Innovation and technology have impacted the operations, sales and profit.......................2Task 2...............................................................................................................................................41. Illustrate understanding of corporate governance..............................................................42. Applications of Archie Carroll's Pyramid of CSR.............................................................6CONCLUSION................................................................................................................................8REFRENCES...................................................................................................................................9
INTRODUCTIONBusiness environment refers to accumulation of internal as well as external factors whichcreates impact on business. They include management, supply and need, consumers expectationsand needs, owners, suppliers, innovation, market trends and many others (Babu, 2012). These allfactors create either direct or indirect influence on organisation. In this report task 1 is based onBritvic Plc and 2nd task is based on G4S Plc. Britvic PLC is a British producer of soft drinkswhich is listed on London stock exchange and is headquartered in Hemel Hempstaed. G4S Plc(Group 4 Securicor) is a London based multinational security service provider and deals withservices like monitoring equipment, supply of security personnel, secured prisoner transportationand response units. This report comprises of understanding of innovation as well as technologyalong with their impact on organisation. Apart from this, corporate governance along withresponsibilities of board of directors. Furthermore, CSR is illustrated by making use of ArchieCarroll's for demonstration of understanding of this model.Task 11. Innovation and technologyInnovation is a full-fledged procedure with the help of which business firm must go forimplementing new ideas and level of thoughts process around products or services for givingeffective values or satisfaction to customers in response to paid by them to business firms.Innovation is necessary for business entity for enabling business growth and process ofdevelopment to enhance profitability. In current revolution, innovation is majorly divided intotwo categories named as evolutionary and revolutionary. Evolutionary is something which comesafter incremental advancement in any specified products or services to increase its value higherand also productive (Bah and Fang, 2015). On a different side, revolutionary based innovationsare new way to bring any change works in scenario effectively. Moreover, an innovationbasically assists in generating revenues for business entities as well as it is also responsible tobuild hike of any products on an optimised stage of tine or process. Those business entities areimitators are new in market, they will generally prefers to take less risk in comparison to otherbusiness entities as because they wants to save their initial cost. In addition to this, technology ishighly forwarded to innovation at a greater ratio than anything else. In this era, innovation isleading initiative which is highly important to raise performance and efficiency of business1
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