Importance of Corporate Social Responsibility for TUI Plc

TUI Plc

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
ASSESSMENT TASK 1.................................................................................................................1
ASSESSMENT TASK 2.................................................................................................................6
Evaluation of importance of corporate social responsibility for the business.............................6
Explanation of the CSR pyramid of Archie Carroll....................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business environment is a term that is delineated to sum of various factors which have
possibilities of effecting performances and influencing situations pertaining with an enterprise. It
assists in planning, recognising better opportunities, improving overall efficiency, tapping useful
resources and managing profitability (Adnan, Hay and van Staden, 2018). TUI Plc is a tourism
entity which operates worldwide. It owns cruise ships, travel agencies, retail outlets and hotels. It
offers services related to travel agencies and have around 70000 employee size working with it.
The report is bifurcated in two assessments in which Assessment is all about innovation. It
includes assessment of impacts of innovation and technology together with the ways it affects
profits, growth addition to sales of the enterprise. On other hand, assessment 2 evaluates
importance that corporate social responsibility for the entity. It also covers application of Archie
Carroll’s model of corporate social responsibility to the business.
ASSESSMENT TASK 1
Define innovation and technology
Innovation is the main task for each business organization that uses by people to develop
their business and managing the higher performance. Innovation is the practical implementation
of ideas and thoughts which uses by companies to introduce new products and services and
increase the productivity. This is important for each organisation to conduct the market research
and bring new products and services which can help to develop the business productivity and
profitability (Kazandzhieva and Santana, 2019).
Technology is the sum of techniques, methods, skills and process which uses by
organization to introduce something new which influences the number of customers and makes
their life easier. The needs and wants of customers is changing where a company uses new
technology and increase the business performance by providing new products and services.
Give practical examples of how innovation and technology have contributed to the economic
growth of the country. (relationships between innovation and economic development)
Innovation and technology are important factor which affecting the economic growth of a
country by introducing new products and services effectively. It has been seen in past period
people were living their life critically where jobs are less that stated the slow growth. For
example, UK was the slow growth and continued volatility where people were faced the
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problems. After introducing innovation and ICT the country is growing continuously as all
companies have adopted the new technology that have the create jobs, participating in tax,
improving education system and increasing sustainability. The GDP rates of UK has increased
by 2.5% after adopting the new technology and innovation in their country. At the global level
per capital growth rate has increased by 0.5% (Kumar and Kumar, 2019).
In other words, companies who are established in other country are operating their
business globally with the help of technology as it provides various connection and online
presence that have developed the contribution in economic growth. Thus, from the different
illustration it can be understand that technology and innovation is contributing in economic
growth of country. The companies and people are using internet that provides new ways to
reaching out the customers and completing market share. ICT tool employed in organization that
can help to streamline business process and improves the efficiency.
Describe how business organisations use new technologies in their operations
The success of business depends on new technology which can help to reach the targeted
customers and developing the higher productivity. The companies are using new technology in
their operations as Artificial Intelligence, machine learning, data recording, different marketing
channel and others which can help to develop the business performance and productivity
effectively. New changes and process are also introduced by management of company who
identify the customers’ needs and provide the products accordingly which can help to increase
the organizational profitability. Moreover, day to day operation such as communication,
customer service, project management, conferencing, video call, meeting, and conference all are
possible through new technology which can help to develop the business performance and
country economy growth (Sakunasingha, Jiraporn and Uyar, 2018).
2.
A brief overview of your chosen company
TUI Plc is also known as TUI Group, that is a Anglo German multinational company,
founded in 1923, for the purpose of running their business in travel and tourism industry. This is
the largest leisure, travel and tourism company, headquarter in Hanover, Germany. The products
and services are charter and scheduled passenger, airlines, holiday packages, cruise lines, hotels,
and resorts that attracts the large number of visitors and increase the productivity. The
management of TUI focuses on innovation and new technology which can help to introduce new
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