Business Environment Report: Technology, CSR, and Business Growth

This report provides an analysis of the business environment, focusing on the impact of technology, innovation, and Corporate Social Responsibility (CSR). It begins by exploring the role of innovation and technology in enhancing business processes, specifically highlighting the potential benefits for Lloyds Bank. The report then examines the importance of CSR, emphasizing its positive effects on brand value and stakeholder relations, using Carroll's CSR model to explain the different levels of responsibility. The conclusion underscores the significance of CSR activities in creating a positive image for the company and supporting its growth. The report also includes references to relevant research papers to support the findings.

BUSINESS
ENVIRONMENT

TOC
 Introduction
Task 1
 Impact of technology on sales, growth and profit
Task 2
 Importance of CSR over business
 Carroll’s model

TASK 1
Impact of innovation as well as Technology and affect of it over the sales, growth and profit.
Innovation and technology
 Innovation means a new way of doing things, a creative idea for meeting the new
requirements in the market.
 Innovation is more practical and can be termed as practical application of invention.
Innovation will help Lloyds Bank by fast process in the work by increasing the
productivity in the work.
 Technology is practical application of knowledge of the science and includes the
knowledge which will deal with the engineering, machinery and also equipment have
been developed by applying the science of the engineering.

TASK 2
Importance of CSR over the business
 Corporate social responsibility plays a very important role in the brand
value of the company in which the value of the company will increase if
the company do more CSR activities.
 CSR activities involves activities for the betterment of the society.
Importance of CSR is explained by following points:

Carroll's CSR model (1991)
 Dr. Archie B. Carroll identifies four areas that includes CSR activities in
the form of pyramid and the same are legal, economical, ethical and
philanthropic.
 The focus is to lay down light over the business responsibilities over
the stakeholders of the company.

CONCLUSION
 As per the study it is concluded that CSR activities plays a major role in
the development of the company in which it creates a positive image in
the minds of different stakeholders by doing good to the society.
 CSR activities can be used for the purpose of advertisement and
boosting the image of the company.

REFERANCES
 You, K., Dal Bianco, S., Lin, Z. and Amankwah-Amoah, J., 2019. Bridging
technology divide to improve business environment: Insights from
African nations. Journal of Business Research, 97, pp.268-280.
 You, K., Dal Bianco, S., Lin, Z. and Amankwah-Amoah, J., 2019. Bridging
technology divide to improve business environment: Insights from
African nations. Journal of Business Research, 97, pp.268-280.
 Budhwar, P.S., Varma, A. and Kumar, R. eds., 2019. Indian Business:
Understanding a rapidly emerging economy. Routledge.