The Importance of Innovation
Added on 2020-10-22
10 Pages3039 Words354 Views
Professional DevelopmentPolitical Science
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Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1TASK 1............................................................................................................................................1Innovation and their impacts..................................................................................................1TASK 2............................................................................................................................................3Corporate social responsibilities and activities of chosen company in relation to CSR........3CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONBusiness environment is a refers as a entire micro and macro factors that influence abusiness (Nair and Paulose, 2014). As per the today's scenarios both corporate socialresponsibilities as well as innovation is considered as a base of the business competencies.Innovation and CSR are useful for the organisation in order to develop their brand image intomarket and offers opportunities in order to save costs. In this report the chosen company isAVEVA Plc which is leading British multinational technology firm. Its headquarters is inCambridge, UK. Other one is G4S PLC, this is multinational security service provider company.Its headquarters is in London, United Kingdom. The aim of the report is to describe innovationand their effects upon economic progress. Its practical illustration and innovation impact onoperations, sales and many more. Understanding about corporate social responsibilities and theirsignificance. Apart from this CSR model and their practical applications are also mentioned inthis report. MAIN BODYTASK 1Innovation and their impactsInnovation is refers as a implementation of the new formulated products or procedures,new methods of marketing or company within practices of business, external relations and so on.This facilitates a limit into penetration market and give a effectual connection for marketdevelopment which can leads towards various opportunities mainly in developed nation (Edquist,2013). Technological innovation consists creation that obtained from research and technologydevelopments which are independent of products and services initiatory. Moreover this is theeffective technical ideas implementation which is a new for the firm for creating its. In caseAVEVA Plc want to do innovation in its services or products then they can apply differenttechnical innovation like incremental, disruptive as well as semi radical (Technologicalinnovation types. 2015). Incremental technology, this kinds of technology is generally little buthave valuable goods and methods developments. This is usually has advanced version of wordprocessing programme which enable whole clients to build new types of documents witheffectual manner. Semi radical, it is the form of technology that normally based on presentunderstandings about technologies. It used knowledge in such a way that is different from past1
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