Analysis of Business Environment, Innovation, and Corporate Governance

This report provides an in-depth analysis of the business environment, examining the impact of innovation and technology on economic development, with a specific focus on business enterprises. Task 1 centers on Aveva Plc, a technology company, illustrating how innovation has influenced its operations, sales, and profits. The report further explores the role of technology and innovation, particularly in the UK business landscape. Task 2 delves into corporate governance, outlining the responsibilities of the Board of Directors to stakeholders and discussing Corporate Social Responsibility (CSR) in relation to G4S Plc, a multinational security services company. The report examines Archie Carroll's Pyramid of CSR, covering economic, legal, ethical, and philanthropic responsibilities. The analysis highlights the importance of innovation, technology, and effective governance in driving business success and contributing to economic growth. The report also examines the corporate governance challenges faced by G4S Plc and emphasizes the importance of board responsibilities, stakeholder management, and strategic decision-making.

Business Environment

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Demonstrate an understanding of various kind of innovation and technology and how they
have impacted the economic development of the country, with specific emphasis on business
enterprise.....................................................................................................................................1
2. A brief overview of chosen company, and practical illustrations of how innovation has
impacted the operations, sales and the profits of selected company...........................................3
TASK 2............................................................................................................................................4
1. Must briefly discuss corporate governance, including the responsibilities of the Board of
Directors to the stakeholders.......................................................................................................4
CSR in relation with the G4S PLC:............................................................................................5
2. Explanations of Archie Carroll’s Pyramid of CSR: - Economic responsibilities, legal
responsibilities, ethical responsibilities and philanthropic responsibilities................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business environments refers to the internal or external factors that influence how an
organisation activities including in the supply and demand, employees, customers or business
regulations. On the other side the term of business environment determined the both forces
internal or external that help the company in order to control or manage their function in an
appropriate manner. In this present assignment, Task 1 is depends on Aveva Plc which is famous
larger technological organisation. Whereas, Task 2 is based on G4S Plc that is British
multinational security services company. Apart from this assignment, will be considered on
impact of innovation and technology on the sales or revenue of Aveva Plc. Some other part of
this report will help in justify that what is CSR actions and also how it is helpful for the company
(Corporate governance issues faced by Aveva Plc. 2019).
TASK 1
1. Demonstrate an understanding of various kind of innovation and technology and how they
have impacted the economic development of the country, with specific emphasis on
business enterprise.
Innovation is very well known word which means develop unique thought, idea, plan and
lot of device or method. Innovation also very much helpful for any organisation in order to make
better solutions or application to meet new needs and requirement of the market. Whereas,
technology is the collection of various technical methods, skills or production of goods and
services. Technology or innovation are both interrelated term which are used by company's
employees or persons in order to make innovative mind set and develop new techniques in an
appropriate way, so that company can easily make their functions easily. On the other side,
companies or persons both are having the very good technologies in their function process so
that they can rapidly implement on new ideas and able to make effective organisation. This will
help company in changing their functions which is implemented through them. In this,
discussion will be made on effect of innovation and technologies on the growth of economic
nation. Wherein, United Kingdom is one of the best business environment globally and it is also
used to offer the good business place so that it is easy for an organisation in order to implement
on new ideas or thoughts in their daily business activities. This will also helps them in preparing
efficient or effective cost process. This is because technologies or innovation enhance the
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company's sales or revenue which directly affects the development of company in an effective
manner.
In the case of innovation it is very necessary aspect for every individual as well as for a
nation because it helps organisations in order to implement their new ideas or thought in their
different functioning style. By this any company can increase their business level or operations
in an effective way. If this condition comes in UK it has already cleared that Britain is very much
rich in this situation. There are lot of innovative thoughts generated by an entrepreneurs. There
are several kind of innovative plans which is made by entrepreneurs of UK, those also
contributed in their country's economic development. There were lot of innovative thoughts
those are made by an entrepreneurs such as electric cars, steam engine and electricity as well.
These all are very essential part of every company in order to improve growth of UK's economy
because they are already famous in the term of developer of higher technology. Apart from this
in today's world several companies or business enterprises are using innovative or higher
technologies in order to attract customers by them so that they can earn profit easily. This
strategy helped UK in order to becoming them most technological country in a good way.
According to all these results that helps in maximising the overall revenue of companies by
enhancing export or import in this environment of business (Hamilton and Webster, 2018).
As per this Aveva Plc has been taken as an organisation which is the larger software
making organization in the whole world. It was formed in the year of 1967 in Cambridge, UK.
This company always use to make several software for industrial work or engineering. In the
year of 2017 they have developed collaboration with Schneider Electric software which was very
helpful for them in becoming one of the largest organisation in the world. For this they also
offered few systems in relation with software such as IoT, Cloud and A1. Company mainly
prepared innovative software for their engineering or industrial work so that individuals are able
to use that software which also have lot of things on internet, artificial intelligence also have
ability to access through cloud by which these software are connected. That's why these are very
much necessary or unique innovations but not so much easy. This types of technologies or
innovations make good software in a good way for any person so that an individual can make
perfect decision for several conditions. Therefore, Aveva Plc has made good collaboration with
Schneider Electric software in order to become large company in the world. These all technical
or innovative ideas helps in attracting country's economy from various nation of the world. So
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that it gives output in the development of themselves, accordingly company can play huge and
important role in the development of economy in an appropriate manner.
2. A brief overview of chosen company, and practical illustrations of how innovation has
impacted the operations, sales and the profits of selected company.
In the modern days, technologies are vastly growing in the environment of nature, that's
why for any organisation in order to deal with technology sector it is not very much easy to
generate unique technologies for long period of time durability. On the behalf of several internet
things like Artificial intelligence and cloud as well these technologies are the best in the software
company as it is essential for each and every individual for using this technologies in an effective
manner. It also affects persons life day by day and also business entities of an organisation. This
help them in acquiring appropriate data that can develop good relations in between employees or
employer of an organisation. In regards of internet things, technologies are different, so by this
facility employees can connect with each other within the company in order to achieve goals or
objectives, this is all accomplished by the internet. With the help of internet an individual or
person can gathered data in order to communicate which is needed by other system in
completing their task. Other technology is artificial intelligence, it is most commonly used in the
world, as its provide system of intelligence so that people can take good decision that helps in
improving their working efficiency with more effectiveness (Cai and Yang, 2014).
According to the Aveva Plc use these software in order to sell or produce them which are
designed via having capacity of cloud or IoT. It has helped company in supplying software
which are essential for marketplace in a unique way. So that customer can get attract easily
towards their products. Along with this, it also helps in maximising sales and revenue profit of an
organization so that they can attain goals or objectives effectively.
Now it has been concluded that the revenue or profit of Aveva Plc after opting these
technologies than profit has been maximised speedy. In the year of 2015, they used to make
several software which have ability of various sources like IoT or AI that can get connected with
cloud but in the year of 2017, company start designing those software which have capability of
more software in order to attract large number of customers in specific manner. These all
processes will give better result for engineering or industrial field. According to 2015, company
as, their profit or revenue 2017-18 is enhanced through 28% as compared to the revenue of 2015.
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These all results will maximise the profit in order to enhance business or economy of the
country that help in achieving desirable goals and objectives.
TASK 2
1. Must briefly discuss corporate governance, including the responsibilities of the Board of
Directors to the stakeholders.
Corporate governance is the activity of various rules which are helpful for an
organisation in order to provide roles and responsibilities for every individual by this company
can controlled their all operations in an effective manner. It will helps in controlling the interest
of various shareholders such as board of directors, customers, suppliers, share holders and so on.
In the past of UK governance, there were large number of issues or challanges which is faced by
them (organizations and shareholders). As some yaer before it was not compulsary for everyone
in order to follow their policies in relation with corporate governance. Because of this issue
organisation begains facing issues such as financial reporting, independency of board,
contribution in society and diversity drive (Menychtas and et. al., 2014). But from the last some
year before, UK goverment has prepared it mandatory for every organisation working in their
country in the competitive world business environment in oreder to follow rules and policies of
corporate governance. In this G4S plc is multinational security service company in London. This
company was formed in 1901. it gives their services around the 90 countries of world. There are
few problems which are related with corporate governance such as composition of board etc.
This company was combination of the 1 chairmen, 5 non executive directors, 2 executive
directors and where is 4 are indepedent. But in the ending year of 2018 on 31st march, they use
make different changes in order to design the more structured company as per the corpporate
governance. This board follow huge responsibilities within the organisation. In which few are
given below:
Pricing of products: This is the main roles and responsibilities of board of directors of
an organisation like G4S Plc have to justify their products so that they can easily adopt effective
pricing policy for company. It is much crucial for an organization, as it helps them in deciding
peefect price strategy for the products and services which company is going to provide their
customers, so that large number of customers can get attracted towards them in an effective
manner.
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Make policies for stakeholders: In this, pricing policies for several roles and products in
which board of director have to play an effective role in order to influence customers towards
their policies. Along with this G4S plc make good policy and services for consumers. It is also
important for stakeholders in order to create good relationship with others. It will help them in
making long lasting connection between both of them for a long duration of time.
Take appropriate decisions: In this company is responsible as well as their board of
director are also responsible in order to take good decision which is very beneficial for every
people who are consuming thier services. With the help of this company use decisions for
improvemenmts that is very essential at work place (Wetherly and Otter, 2014).
Develop strategies for future: From this G4S plc develop several marketing plan or
strategies for their good future that will help company in future. Usually, these strategies are
involves in technological enhancement or various strategies which all are plays an vital role
within the company.
CSR in relation with the G4S PLC:
Corporate social responsibility is also known as business model which helps in
organisation for socially accountable to stakeholders or public sector as well. CSR has heaviely
affect the social environmental or economic aspects of society. CSR is a strategy for
development of business who are comes under the CSR activities rapidly. In regards with G4S
Plc through their CSR initiatives, in order to make good relation or creation in the society or
community as well which manage their services conduct or initiate as promote the sustained
growth of the community or society in accomplish social role and good services to customers.
There are different benefits of CSR activities on business, which are given below:
Increase employee loyalty: CSR includes in the good treatment of employees, if any kind of an
organisation provide good job than they can boos the employees confidence in order to increase
loyalty.
Maintain positive reputation: As per this organisation are involves in the activities of CSR like
donaqtion, charity, basic needs of people and so on.
Therefore, this cab be said that CSR plays a vital role in every organisation in order to
make free society from sevral values an ethics in an effective manner. This is the best way to
justify the corporate governance including the responsibility of Board of Directors in appropriate
way.
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2. Explanations of Archie Carroll’s Pyramid of CSR: - Economic responsibilities, legal
responsibilities, ethical responsibilities and philanthropic responsibilities
CSR is the kind of international private business self-regulation growth. It cab be easily explaied
when CSR is an internal organisational policy or can be corpotrae ethic strategy in a effective
manner. Usually it includes in the sociery, belief, value, norms, culture and so on. Along with
this there rules are combined with these values. In regards with the G4S PLC company have to
make their contribution in the country's development in a good manner. So that, both
organisation or society can grow easily. There are few responsibilities of G4S plc can be justify
by the use of Archie Carroll Pyramid, which are listed below:
Economical responsibilities: It is the lowest part of pyramid which said the first social
duty of the company is to achieve organization goals in an effective manner in order to attain few
profits or revenue. As per this, any organisations uses to make profits at daily time basis which
are also able to sustain for long period of time in an appropriate way. This kind of values provide
long term benefits to the society.
Legal responsibilities: As per this pyramid, this is the another responsibility of G4S Plc,
in this they have to move on the rules and regulations of the country in which they are playing
their operations and activities. If G4S Plc do not use to follow these rules and ordain of nation
then it is very much possible that their licence get off or they have to pay large amount of money.
Ethical responsibilities: This is the third step of this pyramid, in this for a organisation
like G4S Plc, it is essential for them in order to perform their tasks in ethical way. It will help
them in activity on the right things, and also it is very much essential for them to be fair in
various situations, so that they can easily ignore any type of issues to them and to their
stakeholders.
Philanthropic responsibilities: This is the top most level and usefull level of this
pyramid, where it is said that, after finishing above respective steps, it is very much essential for
them to give few things or thought back to society (Savrul, Incekara and Sener, 2014). In this
organisation like G4S Plc have to take care that operations or activity which is performed by
them offer some benefit to the society and also company want that noone can get harm in an
effective manner.
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CONCLUSION
According to the above respective assignment innovation is very much essential part of
an organization in order to achieve company's growth or success. It helps in order to make strong
relationship with others for applying several technologies or innovative thoughts for customer
satisfaction level. There are different types of business opportunities in the technological sectors
such as financial, digital single market, artificial intelligence, cloud system and so on. In regards
with this, the company can develop their image through involving in the CSR activities. Along
with this, model was developed by Archie Carroll about CSR activities and how it is necessary
for an organisation.
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REFERENCES
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priorities: The role of performance frontiers. International Journal of Production
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environment on a mobile device. U.S. Patent 8,954,050.
Hamilton, L. and Webster, P., 2018. The international business environment. Oxford University
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Hillary, R. ed., 2017. Small and medium-sized enterprises and the environment: business
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Menychtas, A. and et. al., 2014. 4CaaSt marketplace: An advanced business environment for
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trading cloud services. Future Generation Computer Systems. 41. pp.104-120.
Savrul, M., Incekara, A. and Sener, S., 2014. The potential of e-commerce for SMEs in a
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Online
Corporate governance issues faced by Aveva Plc. 2019. [Online]. Available Through :
<https://www.aveva.com/en/Investors/Corporate_Governance/>./
Carroll's CSR Pyramid. 2018. [Online]. Available Through :
<https://www.tutor2u.net/business/reference/carrolls-csr-pyramid>./
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