Business 1: The Impact of Technology and CSR on Modern Enterprises

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BUSINESS CONTEXT OF BUSINESS 1
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Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Conclusion..................................................................................................................................5
Reference list..............................................................................................................................6
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Introduction
Improvement of technology guides the modern enterprise to change their business procedure
so that they can manage their business activities with high accuracy. In this essay, different
ethics in business will be discussed that the enterprise used to increase their recognition in
recent community. Several issues of CSR activities will be also discussed in the essay.
Moreover, CSR activities will be highlighted to manage chance of economic, social, cultural,
and environmental issue.
Discussion
Technological innovation allows the current enterprise to gather real time data so that they
can understand their present status and can increase its communication factor with all their
stakeholders. Marano and Kostova (2016) opine that CSR (Corporate Sustainability
practices) allows the enterprise to change their traditional business activity into modern
technology business activity in order to manage company resources effectively. Furthermore,
it has been observed that emerging technology aids the enterprise to prepare their business
report in a quicker manner and therefore, it increases transparency rate in front of their
stakeholders.
On the other hand, Marano et al. (2017) argue that this emerging technology has several side
effects that adversely affect performance level of organisation. Main challenges are low
integration between databases and business processes, insufficient metrics and quantities
information. It has been noticed that modern enterprises such as retail industry can easily
execute stakeholders’ scrutiny that decrease the chance of conflict from their business
environment. Furthermore, this advanced technology allows senior management to access
their business information quickly. Henceforth, it is identified that this advanced technology
allow the present enterprise to bring innovative feature in their business and it guides them to
tackle their business issues as per its priority. As per viewpoint of Hatch (2018), advanced
technology guides the enterprise to perform data analysis by using diverse channel media
such as videos, virtual reality, and interactive info graphics.
Moreover, Hasanova et al. (2016) state that virtual reality guides the modern enterprise to
prepare their virtual team and therefore, it allows them to improve their team dynamics rate.
Henceforth, it can be said that this advanced technology allows the current enterprise to
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improve their business awareness in front of their stakeholders and it enhances their oral
advertisement rate. Situational analysis and PESTLE analysis can be easily performed by
using modern technology as it guides the environment to understand customers’ perception,
provides vivid idea about the rules and regulation of government, competitors analysis,
present weather condition of their business and so on. Advanced technology also guides them
to execute online survey through modern communication application in order to understand
customers’ perception and employees’ need from the organisation.
CSR program allows the modern organisation to incorporate green strategy for benefit of
society and it guides the enterprise to get tax benefit from the government. Hogan (2017)
mentioned that this CSR activities aid the enterprise to create stronger bond between
corporation and employees and henceforth, it increases psychological bond between junior
and senior officials. It has been observed that CSR activities create strong culture in internal
business as senior team discusses the current business issues with all their employees and it
raises business transparency. Raišienė (2015) mention that CSR activities provide alternative
solution against each business issues due to which employees have to wait for approval to
implement right strategy. Furthermore, it has been observed that the enterprise incorporate
philanthropic programs that guides their employees to become much more creative and
productive in nature.
According to Marano et al. (2017), CSR activities guide the senior team to subdivide right
task in front of employees that decreases employee turnover rate. On the other hand, Marano
and Kostova (2016) opine that CSR activities incorporate customers feedback due to which
senior team has to execute continuous change of business strategy that adversely affects their
team dynamics rate. Henceforth, it can be said that senior team should reconstruct their
strategy after predicting their future result in order to maintain their business identity in
current market. For example, in Unilever, it has been observed that CSR programs guide the
organisation to prevent corruptions rate, decreases discrimination issue and raises
communication factor between all stakeholders of organisation. These CSR activities allow
senior team to predict their future business issues and therefore, it includes senior team
prediction that might decrease accuracy and authenticity of business. In fashion industry,
senior team prepare innovative design of clothes and prepares price strategy that might not
attract price sensitive customers and it adversely affects their economic condition.
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It has been observed that CSR activities guide modern leaders to follow transformational
leadership instead of other leadership style as it improves team dynamics rate. Hogan (2017)
opine that transformational leadership model aids the enterprise to create right vision, right
objectives that allows each employee to understand their responsibility effectively. CSR
program guides modern enterprise to follow FREDA (Fairness, respect, equality, dignity and
autonomy) code of conduct so that they can decrease ethical issues from their business
environment. This CSR activity raises economic factor as it provides training to employees
based on modern technology and business activities that create a positive impact on their
business environment. Effective use of internal resources and less amount of waste from
production areas make the environment green and raise financial condition of organisation
(Hasanova et al., 2016). However, in case of Greenergy, it has been monitored that oil spills
issue adversely affects eco friendly rate and it creates negative impact on their business
strategy. Public interest statements are strictly followed by the enterprise to improve their oral
advertisement rate. However, integrity and trust is important business issues that enterprises
are facing in recent days. Therefore, the enterprise has to focus on fundamental ethics to
manage their business program perfectly.
Conclusion
In the essay, importance of advanced technology has been highlighted that guides the
enterprise to execute situational analysis by using PESTLE model. This analysis aids them to
get a vivid idea about their stakeholders and modern technology assists them to gather data
from the community based on their business performance. Additionally, CSR activities allow
leaders to follow transformational leadership model. Different examples such as Unilever,
Greenergy are taken into account in order to interpret cultural, social, environmental, and
economic issues based on CSR activities.
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Reference list
Hasanova, I., Kotova, S. and Kandrashina, E., 2016. Modern interactive technologies of
professional self-determination under the conditions of overcoming conflicting
realities. International Journal of Environmental & Science Education, 11(4), pp. 45-89.
Hatch, M.J., 2018. Organization theory: Modern, symbolic, and postmodern perspectives.
Oxford university press.
Hogan, R., 2017. Personality and the fate of organizations. Psychology Press.
Marano, V. and Kostova, T., 2016. Unpacking the institutional complexity in adoption of
CSR practices in multinational enterprises. Journal of Management Studies, 53(1), pp.28-54.
Marano, V., Tashman, P. and Kostova, T., 2017. Escaping the iron cage: Liabilities of origin
and CSR reporting of emerging market multinational enterprises. Journal of International
Business Studies, 48(3), pp.386-408.
Raišienė, A.G., 2015. Business and management success: what course is supported by
sustainable organization managers. Transformation in Business & Economics, 14(3), pp.68-
91.
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