Business Environment: Innovation, Corporate Governance Report

This report provides a comprehensive analysis of the business environment, divided into two main tasks. Task 1 examines innovation and technology, focusing on how they positively affect economic growth and business operations, using Just Eat as a case study. It explores the definition of innovation and technology, the latest computer technologies, and how businesses utilize new technologies, with a comparison of Just Eat's sales and profit before and after introducing new technologies. Task 2 delves into corporate governance, defining the concept and explaining Archie Carroll's Pyramid of Corporate Social Responsibility, using Rolls-Royce Plc as a case study. The report demonstrates an understanding of corporate governance, its history in the UK, and the responsibilities of the board of directors. The findings highlight the positive impact of social media and online technology, and the benefits of innovation and technology in terms of cost reduction and timely information, with a concluding summary of the key points.

Business
Environment

Table of Contents
Business Environment.................................................................................................................1
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
1........................................................................................................................................................1
Define innovation and technology..............................................................................................1
Briefly describe latest computer technology...............................................................................1
Give illustration how innovation and technology have positively effect economic growth of
the country...................................................................................................................................2
Describing the business use new technologies in their operations.............................................2
2........................................................................................................................................................2
Describing the new technology and how they being used by Just Eat........................................2
Comparing sales and profit of Just Eat after introducing new technology ................................3
Findings.......................................................................................................................................3
TASK 2............................................................................................................................................1
1. Demonstrate understanding regarding corporate governance.................................................1
2. Explanation of Archie Carroll's Pyramid of CSR...................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Overview of the whole report
Business environment means all the internal and external business factors that affect the
business into directly or indirectly manner. Internal environment includes employees, customers,
suppliers, management, demand and business regulations etc. environment affect the business
organisation into several manner it affect the long term growth and best target performance.
Present study will be based on business environment and different aspects of business. Further
study has been divided into two parts. For part one assignment will be chooses Just Eat and for
task two Rolls and Royce Plc has been taken into action. Task one will be presenting about the
innovation process and task two will be presenting about the corporate governance. They can
also set his restaurant on the top the floor of bus to make customer feel happy and different.
TASK 1
Key terms
Define innovation and technology
Innovation technology has been given the high opportunity and change to the economic
progress Norman and Verganti, (2014). High advanced technology brings new innovation within
the business. Just Eat Plc is the online food delivering company which act like as a intermediary
between independent take out food outlets and customers. The new innovation can created by the
company is driving a food bus. Technology and innovation creates new idea and new concepts
which is called invention and creativity.
State the different types of latest computer technology
Every generation of computer brings new advanced innovation and invention that
connects people to more ease (Vargo, Wieland and Akaka, 2015). On the apart develop this idea
into a reality or product and services. Implement and market this new idea. Overall technology
invention also much helpful to grow the economy growth of the country.
Give illustration how innovation and technology have positively affect economic growth of the
country
Innovation and technology has been given long growth to the business development
process. Economic growth has driven in the short run by factor accumulation or by utilising
1

factors more efficiently (Lema and Lema, 2016). In order to upgrade the long term goals and task
oriented process. In order to meet out the economic growth of the business oriented and long
lasting effective channel effective. Technology also affect the economic growth by developing
the new source of income. Technology helps to provides virtual work place service that helps
people to operate work from any where any time. Recently computer technology has launched
several technologies such as follows deep learning (DL) Machine learning which has been
already adopted by the data centres such as Amazon. DL explored the range of network in order
to decrease the amount of data propagated back to entertainers. Innovation in technology has
been given positive impact on the business in order to enhance the quality of product speed of
the product and more different technological advancement. In order to meet out the meet out the
goals and objectives.
Digital currencies is the another latest technology that helps to discover the new learning
process and emerging market opportunity to earn more money growth. It helps to create the new
learning material goals and better target market to upgrade the learning growth.
Describing the business use new technologies in their operations
Operations is the process of the company who measures the day to day activities in order
to meet out the goals and effective process in order to meet out the goals and objectives of the
company.
Impact of technology on operations
Business are always looking for the new working environment that affect the operation
departments into more effective manner. Nowadays, business intelligence creates and collect
vast quantities of data (Weaver and et.al., 2017). New technologies helps Just Eat to make
faster operation services that upgrade new learning process and effective goals. Marketing
business effective goals will help to define the effective working outputs and results. It helps
operation to take fast activities to operate the new business growth success.
Positive impacts
Technology or new innovation process has providing new effective working performance
into the business activities. New business technologies upgrade the new business systems that
helps in operation management that affect the new business goals and best outcome results. New
technologies in their operations that affect the new business growth. It is the new innovation by
the company where they drive a food bus anywhere as per the customer demand. Technology
2

helps to create new innovation within the business which defines the quality and value of the
business growth.
2.
Describing the new technology and how they being used by Just Eat
Just Eat is the online business which delivers the food from one place to others. It helps
Just Eat to take fast forward results and growth. It helps to make the new managing and
developing the effective working outputs. New technologies helps Just Eat to take some fast
process within the company environment. Overall, innovation and technology have impacted the
operations and sales and the profits to Just Eat. Just Eat adopts technology as per the needs and
wants of the organisation goals (Martínez-Román and Romero, 2017). In order to meet out the
developing results and long term affectivity.
The new technology that has been adopted by the Just Eat is that take away services for
their customers. It become easy for the customer to take their order as soon as possible. Apart
from that, it affects the new business target new approachable result outcomes and growth into
more appropriate manner. As per the owner of Just Eat helps to create the new managing
effective growth and best outcome results. Overall, it helps to create new approachable market
growth and the customer ratio for the new growth for the bushiness future.
Company also adopts the digital ordering process to make the new innovation process
and goals.
Comparing sales and profit of Just Eat after introducing new technology
Sales is the process where company sell or buy the product or services at their
considerable price or cost. Sales of the process is very much essential for the company
organisations in order to meet out the best outcomes and growth. Company has been enhanced
their profit ratio after being moti9vated towards the new growth target (Bason, 2018). It help to
get the new management task and new effective process. After being used the new technology
Just Eat earned profit £76.0 million in 2017.
Profit is the outcomes and growth which gives another opportunity to make the best
outcomes profit selects the business opportunity growth more valuable. After that, it brings new
management and new technological changes and make the new management style. Online is the
best source that helps business to get new technology development.
3

Findings.
On the behalf of above discussion, it has been cleared out that social media or online
technology has been given best outcome results in order to meet out the company objectives and
better resource outcomes. Overall, it helps to meet out the next level of developing performing
goals. Innovation technology interrelate with each other that helps to motivate new learning
process. It affects the business into positive manner. Overall, it upgrades the new learning and
developing result outcomes (Union, 2014). Further, it has been discussed that, innovation
technology affect the business operation and also helps business to get new clients or customer
outcomes. Overall, it helps to motivate the long lasting result and new further developing
process.
Technology helps Just Eat growing markets and expand the new business growth in order
to meet out the result outcomes. Social media vehicles like Facebook, Twitter and other online
platform can help Company to get new further reach to the growing market. Further, finding also
concluded that, innovation technology can also help Just Eat to reducing the costs as well.
Reducing cost is the best benefit that company take to make company sustainability and
growth in the market (Narula, 2014). It affects the long term growth and new managing effective
growth in order to meet out the generating and new management task to accomplish the business
goals.
Getting timely information is the another benefit that innovation technology has provides.
In order to meet out the new developing results and new effective outputs for the result. Apart
from that, it helps top keep the market most effective and challenging.
4

TASK 2
1. Demonstrate understanding regarding corporate governance
Corporate governance
Corporate governance is a system of different practices, rules, processes, etc. that firm
consider and controlled. It is more essential element that includes balancing interests of
stakeholders of Rolls-Royce Plc. It includes shareholders, customers, management, suppliers,
government, etc (Lusch and Nambisan, 2015). It encompasses with framework that provides
attaining company's objectives for action plans and internal control to performance management.
Furthermore, it consists explicit and implicit contracts between enterprise and stakeholders for
appropriate distribution of responsibilities, rights and rewards. Procedures of supervision, control
and information flows serve in a particular system of check and balance (Veldman and Willmott,
2016).
In UK, corporate governance consider important role in Rolls-Royce Plc to make
effectiveness, remuneration, accountability and relations with shareholders. In this context, there
are several principles can be successfully applied for corporate governance such as government
structure, board of committees, etc. With the help of director's appointment procedure, it can be
stated that duties and remuneration can be successfully placed with internal control system
(Shrives and Brennan, 2015).
History of corporate governance in the UK
Governance is a work that occurs before 20 years ago in existence of UK. Nowadays, it is
commonly used by companies for charities, universities, local authorities, etc. It has become a
shorthand way that contain by organisation to run successful operations and functions that
emphasis on accountability, integrity and risk management activities. Revolution started by
1990s with Cadbury report on financial aspect of corporate governance. It has aimed to look for
standards of corporate behaviour and ethics that include certain benchmark for good
management. In 1992, Financial aspects of Corporate governance was established in which
accountancy profession consider response to continue concern with standards of financial
reporting and accountability (Tricker and Tricker, 2015). Furthermore, there are continuously
amendments consider in UK for benefits of several employees. This is because, it creates
appropriate attention on growing concern at level of salaries and bonuses that must be paid for

senior executive. In 1998, Hampel committee was established to review extent in which
objectives will be accomplish of Rolls-Royce Plc. In 1999, Turnbull committee was established
that provide appropriate direction on internal control requirements which carry risk management.
Potential non-executive directors must be satisfy with process of the knowledge, experience,
skills and time to carry several duties and tasks (Sun ed., 2016).
2

5 responsibilities of Board of directors
Directors are always looking for affairs of the company and maintain position of trust.
Consequently, law imposes with number of duties, burdens and responsibilities upon directors.
Directors of Rolls-Royce Plc may be responsible for ensuring proper maintaining of books of
accounts. In certain circumstances, it can be required that assists to pay debts of his enterprise.
As a separate legal person, they need to look upon particular system and outcomes (Bolón-
Canedo, Sánchez-Maroño and Alonso-Betanzos, 2015). There are several responsibilities of
board of directors which explained under here:
 Rights of shareholders: Director has responsibilities to exercise their powers for
accomplish appropriate purpose so that it is reason which given by powers of
shareholders. Shareholders have rights to know position of the business so that Rolls-
Royce Plc has responsibility to focus on their significant advantages with director roles.
 Equitable treatment of shareholders: Directors also need to act with good faith in
which honesty believe to consider the best interest in the organisation. For collateral
purpose, it is particularly determined design that favour to the Rolls-Royce Plc. Another
important role is to deliver equitable treatment of shareholders that assists to focus on
desired level of results at workplace.
 Role of stakeholders in corporate governance: Directors have responsibilities to act
with due skills and care of employees which assists to perform several activities in
appropriate manner.
 Disclosure and transparency: Directors also possess responsibility to delegate to
management and monitor implement policies, strategies and business plan. Determine
monitoring criteria to be used by the board. It ensures internal control are effective and
senior management work (Tricker and Tricker, 2015).
 Responsibilities of board: Board of directors set strategy and structure which includes
review and evaluate present future opportunities assess threats and risks in external
environment. As a result, current and future strength successfully develop that is related
with company's results and outcomes.
2. Explanation of Archie Carroll's Pyramid of CSR
Corporate social responsibility
3

Corporate social responsibility is a type of international private business self-regulations.
It considers private business self-regulations that can be successfully develop and focused to
consider internal organisational policy. In international laws, it must be successfully develop
wide initiatives that are considered in form of corporate self-regulations. It assists to Rolls-Royce
Plc to deal with accountable and practising for corporate social responsibilities. As a result,
company can emphasis on having all essential aspects that are included to deal with economic,
social and environmental consideration. CSR programs also make efforts that are benefit to
society and boost own brands. There are several employees and employees are connected to
work in appropriate manner to increase their responsibilities which exists to work within the
world. When company works for social perspective, it is essential to look upon shareholders
needs and requirements (Schwartz, 2017).
In addition to this, it can be stated that movement aimed at encourage companies to aware
about impact of different activities that can be accomplish through consider successful results. It
is business approach that used and contributes to sustainable development and deliver several
benefits at workplace.
3 Companies that were socially irresponsible
CSR in action – Starbucks: First initial public offering consider in 1992 by Starbucks which was
known as its keen sense of corporate social responsibility. Commitment also successfully
develop for sustainability and community welfare. As a result, it contains more benefits to
maintain more significant advantages at workplace. There are several employees engaged to
maintain effective environmental leadership (Tai and Chuang, 2014).
CSR in Marriott -In Marriott, there are several actions and activities has been undertaken which
assists to focus on goals and objectives that can be accomplish targets in appropriate manner.
With this consideration, they are focusing on world's most pressing social, environmental and
economic issues that consider more global responsibilities. With unique opportunities, it can be
stated that sustainability and social impact goals has been accomplished in positive manner that
consider positive and effective development of the business (McWilliams, 2015).
CSR in Rolls-Royce Plc: CSR activities in Rolls-Royce Plc can be successfully develop to
increase welfare and effectiveness. As a result, it contains more significant advantages at
workplace. It assists to focus on leading in technological perspective that followed by company
4

to attain targets and goals. There are several activities profound effect on society and
environment.
Understanding of the areas of CSR identify in Archie Carroll
In this consideration, modern definition of CSR has been successfully developed that
assists to focus on rooted in Archie Carroll's Pyramids (Tricker and Tricker, 2015). Therefore, it
contains different types of responsibilities that increases profitable outcomes in desired manner.
In this consideration, there are several elements involves to conduct business that is
economically profitable, law abiding, ethical and socially supportive. As a result, it contains
social responsibilities that assists to focus on goals and objectives that take place in Rolls-Royce
Plc.
In order to determines different kinds of elements in corporate social responsibilities, it
can be stated that following are different level must be consider and followed by Rolls-Royce Plc
(Shrives and Brennan, 2015). Hence, the organisation able to deliver more effective results and
outcomes in positive manner.
5
Illustration 1: Pyramid of corporate social
responsibilities
(Source: Pyramid of Corporate Social
Responsibility, 2018 )