Business Report: Assessing Innovation, Ethics, and CSR in Business

This business report assesses the impact of innovation, business ethics, and corporate social responsibility (CSR) on modern business organizations, focusing on Moneysupermarket.com Group PLC. It explores how innovation, including strategies like being first to market, can increase market share, productivity, and profitability. The report also examines the role of CSR in enhancing corporate reputation and contributing to sustainable development through environmental, ethical, and philanthropic initiatives. It provides recommendations for businesses to improve their performance by effectively integrating innovation and CSR into their strategies, highlighting the importance of ethical practices and societal contributions.

BUSINESS ENVIRONMENT: COURSEWORK
BUSINESS REPORT
Student ID: Type Student ID here
Word count: Type word count here
The word limit is 2500 words, not
including the table of contents,
tables, diagrams, reference list, and
appendices.
Academic year: 2021/2022

1.1. Executive Summary (250 words)
It is summarising that business environment is a collection of different internal as well as
external factors that consist customer needs, supply and demands, employees, suppliers,
innovation in technology and other aspect. This project report includes assessment impact of
innovation on modern business organisation. It consists research, application and analysis of
innovation in context to company. It analyses impact of business ethics and corporate
responsibility in context to modern business organisation. It also research, analyse and
application of business ethics and corporate social responsibility. Moreover, it includes
recommendation for business in order to improve business.

Table of Contents
1.1. Executive Summary (250 words).................................................................2
List of Figures.........................................................................................................3
List of Tables...........................................................................................................3
1.2. Assess the impact of innovation on modern business organisations (550
words)..........................................................................................................................4
1.3. Research, analysis, and application of innovation to [Insert
your chosen company here] (450 words)...................................................5
1.4. Assess the impact of business ethics and corporate social responsibility
(CSR) on modern business organisations (550 words).........................................5
1.5. Research, analysis, and application of business ethics and corporate social
responsibility to [Insert your chosen company here] (450 words)............6
1.6. Recommendations (250 words)............................................................7
1.7. References.....................................................................................................7
1.8. Appendix...........................................................................................................7

TASK
1.2 Assess the impact of innovation on modern business organisations
Innovation refers to practical implementation of ideas that leads to introduction of new product,
service or making improvement in existing products and service. It is concept which create
changes in entity with realisation and redistributing values (Abdullah and Mansor, 2018). It is
one of important element which focus on improvement, newness as well as spread of ideas as
well as technologies. It can be taken place through development in order to make thing more
productive like product, services, processes, art work and technologies. Innovation is important
for business for various reason which are as follows:
Increase market share: Innovation is something which allow business to implement new ideas
in business. It allows them to make improvement in existing business and introduce it to new
market. It makes product more effective and also allow business to expand their marketing share.
It allows them to increase target market of company and allow them to introduce new product for
different target customers.
Increase productivity: Innovation also increase productivity of business as in this business
adopt new technology which improve production efficiency of company. It is important for an
organisation to adopt innovation in order to improve their production capability. Innovation is
based on new technology which can be adopted in operation process of company.
Increase profitability: Innovation allow company to improve their operational efficiency and
also provide advantage to adopt something new in business (Agwu, 2018). It allows company to
build new product or making improvement in existing products.
Competitive advantage: Innovation allow company to develop distinct products and service
which allow them to differentiate products and service of company to from those of competitors.
It allows company to compete with other plyers in market which provide them opportunity in
market. It also allows company to produce products at large level which reduce their cost and
provide them competitive advantage to get more profit.
Innovation also provides various benefits to economy of a country in many ways it allows
company to produce a different product whch they can sell to other companies. It allows them to
bring foreign exchange for economy of a country. It also creates employment opportunity in
country as in order to products products, company needs to hire local employees which leads to

production in unemployment rate in a country. It provides economic success to a country and
also allow them to produce products at large level which provide them economy in production as
they can reduce cost of production and also competitive advantage in company.
Strategic aspects of innovation: Innovation strategies refers to a plan for purpose of grow profit
and market share of company through innovation in products and service. An effective
innovation strategy is on that clearly reflect upon which job is to be done by executor, which
segment is to target by company for purpose of attainment growth in market and what needs to
be required for purpose of helping customers in order to complete a work in effective manner
(Bedi, 2019). It is important to develop an innovation strategy for purpose of improvement in
products and developing disruptive innovation approach for purpose of getting success in
market. There are different types of strategies to be adopted by business for purpose of adoption
of innovation and management. These strategies in context of business are mentioned below:
First to the market: First to the market is one of strategy in which company is first to enter in
market which allow business to get advantage in market.
First mover advantage: First mover refers to a strategy which is related to products and service
in order to gain competitive advantage. It is one of strategy in which business can get
competitive advantage through being first in a market in context of products and service. Being
first in market enable company for purpose of developing strong brand recognition in customers
and also increase customers loyalty before entry of competitors in market.
Market Follower Strategies: Market follower strategies is one of strategy which can be used by
business that imitates things that market leader does. It is one of strategy in which companies
cannot overtake challenges market leader (Belyaeva, 2018). Adoption of these strategy in
business allow them to earn more profit and des not create burden of expenses of innovation.
There are different types of innovation strategies like counterfeiter, cloner, imitator, adaptor.
Fast follower strategy: Fast follower refers to a strategy which can be adopted by an
organisation for purpose of quickly picking up new ideas in compare to another organisation. It
helps to overcome of risk of competition which provide success to business.
1.3 Research, analysis, and application of innovation to
Moneysupermarket.com Group PLC is one of organisation which is a British Price Comparison
business that is based on website that provide specialise services. It is one of website which
enable consumer for purpose of comparing prices of different range of products that consist

home insurance, car insurance, travel insurance, credit card, mortgage as well as loans. It is one
of organisation which is adopting innovation in order to increase their marketing share,
productivity, profitability of company. It is one of organisation which is aiming to help
household in order to make most of money (Berman and Dalzell-Payne, 2018). It leads to
different brands like MoneySupermarket, TravelSupermarket and MoneysavingExpert as it is
providing their customer with different services like tools and products which is require by them
for purpose of saving and growing money.
There are different types of innovation strategy to be adopted by companies for purpose of
gaining competitive advantage. Be the first in market is one of strategy which is adopted by
Moneysupermarket.com Group PLC for purpose of adoption of innovation. It helps them to get
advantage of prices of products and also helps to improve customer journey. Company is getting
various advantage in market of UK with adoption of this innovation. It helps them for increasing
scale of business and adopt new technology in business. It helps them for purpose of improving
image of brand and also allow them to attract more customers in their market. Adoption of
innovation helps them to increase their revenue as it increases revenue of company with around
12% which reach to £316.4M. It also increases operating profit of company with around 13%
that reach to around £91.1M. It helps them for purpose of improving performance of company.
Company is adopting scalability and technology-based business model which is important for
them to get growth in market.
1.4 Assess the impact of business ethics and corporate social responsibility
(CSR) on modern business organisations
Corporate social responsibility refers to responsibility of companies towards society and also
giving back to society as it is part of fund raising for purpose of wealthy cause. It is providing
opportunity to business for various and also strength their relationship with different stakeholders
at different level. It is an integral part of company for developing different strategies and its
partnership. Supplier, employees as well as customers plays important role for purpose of
corporate social responsibility (Gandhi, 2017). It provide strength to company and also
contributing to sociey and is become an important part of effective strategy which is leads to
improve performance of company and also generating positive image on society.
CSR refers to efforts of company towards improving society and also contributing to sustainable
development. It is initiate of company for evaluating and taking responsibility which create

impact on image of company and also solve issues which create impact over environment. It is
described as self-regulation business plan that take initiate for focusing on attainment of
economic, environment and social benefit for different stakeholders (YANG, BAI and ZHAO,
2020). Main reason behind CSR is to encourage business is to run their business in an ethical
manner and also work for purpose of creating positive impact over different members of society
that leads to sustainable growth.
There are different types of activity related to corporate social responsibility which includes
different activities that are mentioned below:
Environmental Corporate social responsibility: It is one of thing in which there are different
numbers of companies which needs to focus on CSR efforts towards reducing negative impact
over environment. There are some businesses in UK which are obliged by different laws for
purpose of reporting for greenhouse gas emission and is required for purpose of reducing carbon
footprint (Gao and Li, 2020). Business creates various harmful impact over environment which
can be considered as unavoidable and necessary cost for business, pollution as well as excessive
consumption of different resources that is concern for purpose of political as well as social
concern at global level. For instance, Unilever Plc is one of largest manufacturer related to
deodorant that starts their can of deodorants and cutting their carbon footprint of every aerosol
spray with around 25% on each can. It can be done with using around 50% less propellant gas
and also 25% less aluminium. With this, Unilever is doing different task from product design to
shopping which cut cost and also reduce impact over environment.
Ethical Corporate social responsibility: It is one of responsibility that focus on ensuring
different stakeholders in organisation that receive fair treatment from employees to customers. It
is one of self-enforces initiatives made by company in which company put their values in order
to believe which things are morally rights in place of obligation. Business includes different
stakeholders which can be affected by different activity and create positive impact over work and
operation of company. Lega and economic responsibility of company which is a primary concern
of company that address different fundamental requirement of business that focus on different
ethical responsibility (vanovich, 2020). It is important for an executive for enforce fair treatment
to different employees incudes paying higher wages, offering to those person that are struggle in
order to finding out work and also ensure decent staffing in order to maintain factories and also
refusing different partners in context to business with unscrupulous business. For instance, Lush

is a cosmetics company that is known for global campaigning against strong ethical initiatives
and animal testing. It is also getting annual lush prices for purpose of their fuel innovation in
context of ant-testing methods as it is dedicated for operating direct and fair trade.
Philanthropic corporate social responsibility: It is responsibility of company related to
operating in ethical manner in order to betterment of society. It is one of corporate social
responsibility that is associated with donating of money for charities, that is related to business
support to different charity that is important for business in a specific manner (Khajeheian,
Friedrichsen and Mödinger, 2018). It is not related to charity donation and also includes
investing in different community for purpose of local projects. Main goals behind this are to
provide support to community in a specific manner that is beyond hiring. For instance, Goole is
one of corporate philanthropy that is run through different problem thar providing around 100$
milling for grants and investment.
There are different issues occur in business related to corporate social responsibility of business.
These responsibility in context of business are mentioned below:
Human Rights: It is responsibility of business to consider and respect human rights that is
related to internationally recognised human rights (Michael, Reisinger and Hayes, 2019). It is
related to diligence that enable enterprise in order to identify different adverse effective in order
to results from different activity and also it is related to value chain that depends on enterprise.
Local social license to operate: There are different debates related to social and environmental
impact related to natural gas development in US, labour and community unrest to central Asia
and Africa. It is related to substantial issues which are common and related to technical and
commercial factors.
Integration of CSR in mainstream of business: There are various organisation which are
aware of CSR but there are some organisations which are on periphery of different companies
(Tung, Tang and King, 2018). In other words, it is related to process and systems of business that
is required for purpose of managing complexity of business.
1.5 Research, analysis, and application of business ethics and corporate social
responsibility to
Moneysupermarket.com Group PLC is one of organisation in which board recognise safety,
social and well-being of society (Saleh and Watson, 2017). It is one of key element that create
impact on corporate governance that leads provide support to strategy and also results to

sustainability and long-term performance. It is one of organisation which is committed towards
sustainability that is linked with responsibility with different stakeholders that in turn develop
long term values. It enables company to focus in different element lie environmental, social as
well as governance which is based on social responsibility, robust governance and ethics,
minimising environmental impact. Adoption of CSR provide competitive advantage to business
as it improves image of Moneysupermarket.com Group PLC in minds of consumer (Rialp-
Criado and Komochkova, 2017). It is also adopting ethical practices in their organisation which
is important for the for purpose of improving their image in minds of different stakeholders of
business. There are different stakeholders included in Corporate social responsibility of business
like customers, suppliers, employees, shareholders and competitors. There are stakeholders
theory which can be adopted by managers of Moneysupermarket.com Group PLC. It is one of
theory which is related to business ethics hat is responsible for purpose of constituencies that
create impact of suppliers, creditors, employees, local communities and many more.
Recommendation
From above mentioned discussion, it can be recommended to managers of
Moneysupermarket.com Group PLC that they should adopt effective CSR practices in business.
It is essential for business in order to gain competitive advantage for business. It helps them for
purpose of improving their image in minds of consumers and also fulfil their duties towards
society.
It is also suggested to organisation to adopt innovation in their organisation which is important in
order to continuous improvement. It is also important for business in order to differentiate their
products and service. It also provide them opportunity to contribute in reduction of cost of
company that provide them competitive advantage and also allow them to earn profit.
1.

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