Card Factory and Brewin Dolphin: Global Business Environment Report

This report provides a comprehensive analysis of the global business environment, examining the impact of innovation and technology on economic progress, with a specific focus on business organizations like Card Factory Plc. It details the various forms of innovation, their influence on operations, sales, and profits, illustrated with practical examples from Card Factory. The report also delves into corporate governance, defining its principles and historical context in the UK, along with the responsibilities of board of directors and the concept of Corporate Social Responsibility (CSR), using Brewin Dolphin Plc as a case study. It explores the evolution of corporate governance, emphasizing ethical practices and the role of shareholders, directors, and the Financial Reporting Council. The report discusses the importance of corporate governance in enhancing company success, minimizing unethical activities, and building investor confidence. Finally, it highlights the responsibilities of the board of directors in establishing the company's mission and purpose, promoting a positive workplace culture, and ensuring long-term success. The report concludes by synthesizing the key findings related to innovation, technology, and corporate governance in the context of the global business environment.

The Global Business
Environment

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Demonstrate the understanding of various form of innovation and technology and how they
have impacted the economic progress of the country, with specific emphasis on business
organisations...............................................................................................................................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
Corporate Governance ...............................................................................................................4
History of corporate governance in the UK ...............................................................................4
Responsibilities of Board of Directors .......................................................................................5
Archie's Carroll's Pyramid of CSR ..........................................................................................6
Corporate Social Responsibility .................................................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES ...............................................................................................................................9

INTRODUCTION
The global business environment can be described as the environment in several
countries that influence the decision making on resources use and capabilities. It can be divided
in to two factors that is internal or external environment. In this present assignment Card Factory
Plc has been selected as an organisation in task 1.This company is a chain of greeting cards and
different gift stores in United Kingdom. In the task 2 Brewing Dolphin Plc has been taken which
is a largest British investment management or financial planning company, founded in the year
of 1762 in London UK. Along with this discussion will be made on task 1 is depends on the Card
Factory company in relation to the innovation or technologies, whereas task 2 is based on
Brewing Dolphin Plc in relation with Corporate Social Responsibility.
TASK 1
1. Demonstrate the understanding of various form of innovation and technology and how they
have impacted the economic progress of the country, with specific emphasis on business
organisations.
Innovation is the process of translating idea or invention in to the product and services
that develop good value and for which customers will pay in a good manner. In order to be make
innovative idea should be replicable at the cost of economic system and must be satisfy customer
needs and requirement in a effective manner. That's why it is very much essential for developing
unique thought and ideas to satisfying consumer requirement in a good way. On the other side
innovation take place by the provision of very much effective or essential product, services,
technologies or business models that are prepare and available in the market, society and
government. Innovation is the more effective approach or a consequence in order to make
attractive society and government system as well. Lastly, this can be said innovation is a
production or adoption of social or economic values in order to generate the development of new
production in an appropriate way (Aarikka-Stenroos, Sandberg, and Lehtimäki, 2014).
Technology is the application of scientific knowledge to the practical aims of every
human life and sometime, it changes or manipulate the human environment like daily routine and
everyday activities of them. It is the collection of different skills, methods, techniques which is
used in the production of goods and services in order to accomplish the objectives or goals. In
the other term technology can be the knowledge of various techniques, processes or various
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equipments or machines which is very use full for every organisation with full knowledge in an
effective manner. In the simple words, technology is development and basic tools of use which
affects the people in a desirable manner. Technology has lot of effects that helps in developing
the more advanced economies. On the other side technology has helped in connecting with
different people from various places that already have the constant sources of everything like
entertain, cooking recopies, travelling long distance and lot of things which are essential for
everyone at modern world.
Innovation or technology both are interrelated forms which is always used by
company's employees or person's to make or use innovate ideas or techniques for fulfil the
market needs in a good way. That's why both are necessary term which contributes in
development of economy in a attractive way. Organisations or employees both are having the
excellent technologies in order to make good function process for accomplish demand of
customers. This will help all the organisations in order to improve their changes for running their
business successfully. By this any firm can implement on their new thoughts in an effective
manner.
According to the Card factory Plc used different types of technologies like ATM, online
banking transactions, telephone, contact less cards. These all are the different or innovative
technologies which are less time consuming and attractive the customers in a positive way. Card
factory6 uses because prepare their lot of card by innovative ideas and unique thought so that
they can easily achieve the goals and objectives in a proper way. Along with this, it also helps in
increasing the sales revenue or profits in a good way (Brunswicker, and Van de Vrande, 2014).
It has been represented that the cost revenue of Card Factory Plc has been increased
because of innovative ideas or technologies. In 2015, Card factory used different types of
transaction mode or making criteria which influenced the several type of customers in a good
way. After 2015, in the 2017, company created different kind of designing cards in order to
attract customers. All these processes are the good examples of this organisation in order to
enhance their operation and processes in a market in a specific manner. As per the 2015
compared the 2017-18 is increased by 28% in a good way. These all results will enhance
company's process or country;s economy that is very helpful for attaining goals and objectives.
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2. A brief overview of chosen company, and practical illustrations of how innovation has
impacted the operations, sales and the profits of selected company.
Overview of Card Factory: This is private limited company, it works together with their
subsidiaries being a special retailer of greeting cards in the United Kingdom. This company
usually designs the different types of cards, prints, produces and sells greeting cards in a good
way. It is also managed by getting personal segment. This company offers one card for everyday
occasions like birthday parties, weddings, anniversaries, thank you parties, congratulations and
so on. On the behalf of these several points or greetings sign shows the productivity of an
organisation in a good way. In the modern world every one wants different kind of designs and
wand unique technologies. In regards with several things of internet technologies are very much
different to goals and objectives in a specific way. According to the internet people can aware all
the time for various designs of cards and their size, colour or shape as well. With the help of all
these internet facility company can increase their profit or revenue in a good way.
For this, Now it has been analysed that innovation has wide impact on the company
operations in a good manner. By this innovative ideas company is able to apply different type of
strategy on their work properly. Through this innovative plan or idea sales and revenue has been
automatically increased because of their new techniques. As company follow different types of
greetings cards in order to impress their customer for increasing their demand in market. These
all results are very good in order to make various technologies in a good manner. Therefore,
Card factory is a successful company which operates their whole functions and manage their
work globally in a attractive manner. By their innovative or different techniques people can get
lot of attraction towards their all type of cards, so that they can easily maximise their sales or
revenue an appropriate manner (Brusakova and Kosuhina, 2015).
Now this can be said that Card factory is a very famous company which provide several
kind of greeting cards to their customers for enhance their sales in a good way. In the modern
world, customers want everything innovative or technical just because of competitive world. So
that Card factory always trying to give better card services to their customers and easily can earn
profit and revenue in an appropriate manner.
This is explained by an example earlier card factory was not much profitable. It's sales were low.
When this company started selling attractive cards online through website, the sales drastically
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increased. Card factory got a rank in top 500 research. This retailer developed new routes to
market, including a partnership with Aldi and it opened the franchised store in Jersey.
TASK 2
Corporate Governance
Corporate governance is defined as the way of governing a corporation. This is a
technique by which managers are guided and managed in a company. It includes running of
business according to desire of stakeholders. This is conducted by the board of directors and
committees of benefit of stakeholders. Corporate governance helps in balancing individuals and
goals and objectives of society and economy. Corporate governance is the interaction between
shareholders, management and board of directors of the company for enhancing performance of
the company. The owners are responsible for analysing actual performance of the company and
matching them with standards. Corporate governance provides effective ways to make strategies
for decision making of the company. This provides responsibility and authority to Board of
Directors. Brewing Dolphin is the largest investment management and financial planning firm of
British. It has around 39 offices throughout UK and channel Islands. This company has a
subsidiary, Tilman Brewin Dolphin Limited that is located in Dublin, Republic of Ireland. The
benefits to this company by adopting corporate governance are listed below-
 A good corporate governance enhances success and economic growth of the company.
 This helps in minimising corruption or unethical activities in corporate.
 This decreases the capital cost and it has a positive impact on the share price.
 It gives involvement of managers as well as owners in the achievement of goals and
objectives of the organisation.
 This helps in development and formation of brand.
 A strong corporate governance builds confidence of investor and this helps in increasing
capital effectively and efficiently (Brusakova and Kosuhina, 2015).
History of corporate governance in the UK
The mission of Financial reporting council is to promote integrity and transparency in
business. This sets Corporate Governance of UK and standards for accounting work, monitoring
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and taking actions for promoting the quality of corporate reporting. The Financial reporting
Council sets ethical and auditing standards for enhancing audit quality. The first version of UK
Corporate Governance Code was published by Cadbury Committee in the year 1992. According
to this, corporate governance is defined as the system by which organisations are controlled and
directed. The boards of Directors are responsible for governing heir companies. The role of
shareholders in governance is to appoint auditors and directors. These individuals must be
talented and function effectively in the company. The main objective of the corporate
governance in a company is to operate business activities in an ethical way. The new code of
2018 focuses on the application of principles. This requires organisations to make a statement of
how the company applies principles that enable shareholders to evaluate the application of
principles. A successful company is governed by an effective entrepreneurial group and role of
this firm is to promote long term success of the organisation and creating value for shareholders
and contributing to wider society. The Board of Directors establishes the purpose of the
company, strategy and values and satisfy that culture is aligned. Directors act with integrity and
promote positive culture at workplace.
Responsibilities of Board of Directors
The board of Directors posses a legal responsibility of governing the corporation. The
accomplishment of individuals roles and responsibilities help in fulfilling this responsibility.
Several members of board of directors merge the skills towards mission and vision of the
company. This creates a synergy which enhances the contribution of each individual. The
company requires dedication and time to select the board members.
An effective board members posses personal integrity and character traits. These are active
members and they should be responsive and patient for making effective decisions.
Establishing the mission and purpose of Organisation
The Board of directors are directed and guided by the vision and mission of the
organisation. The vision is all about the future of the company and mission is the action plan
which is made for accomplishing this vision. The Board of Directors should take great care in
formation of mission and vision statements (Carayannis,, Grigoroudis and Goletsis, 2016).
Executive Director- Selecting, Supporting and Reviewing
The Board selects Executive Director from a pool of qualified applicants. When Board is
formed, the Executive Director is appointed for carrying out organisational plans.
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Organisational Planning
The Board members spend time in planning of organisation. These members determine
and monitor services, products and programs of organisation. They focus on the competitors and
the strategies of competitors for making more effective plans to gain competitive advantage in
market.
Monitoring and managing Financial Resources
The members of Board know how to read financial statements. The members of Board
must know how to use money in an effective way and make profitable decisions for the
company.
Assessing and developing Skills
The Board of members should develop skills and seek opportunities and keep himself
updated with new business trends. The Board of member must develop skills in areas like
fundraising, recruiting board members, understanding financial statements and organisational
knowledge.
Serve on Committees
The Board members should serve committees and task forces. They should mentor the
workers for maintaining committee and produce committee reports to the rest of boards.
Maintaining Integrity
The board of members follow conflict of interest policies and they ensure that no conflict
take place in the organisation. These members must devote time to fulfil the roles in an
appropriate manner and advance the functions of the company.
Archie's Carroll's Pyramid of CSR
Archie Carroll introduced a pyramid of CSR that defines modern activities of CSR. There
are basically four types of responsibilities described in this pyramid such as legal, economic,
ethical and philanthropic.
Economic- This is important for a business to be profitable. This means surviving in business
world and doing social welfare work and activities (Chesbrough and Bogers, 2014).
Legal- This needs various rules and regulations for conducting business. These regulations
include legal rules, laws based on employment, health and safety,etc.
Ethical- This includes conducting business activities in an ethical manner and doing business
appropriately.
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Philanthropic- People should give back society what it has taken. Society is an integral part of
any individual's life. This can be done by doing charities, donations, social work, plantation, etc.
Corporate Social Responsibility
Corporate social responsibility is defined as a business model that helps an organisation
to work ethically and positively. This helps in making company socially accountable to
stakeholders, itself and public. These activities have impact on social, environmental and
economic aspects of society. The companies involve in CSR activities by enhancing environment
and society. Business is benefits society and at the same point it is boosting image of brand .
CSR activities help to boost morale of employees and making them feel connected with the
company. CSR is a strategy for growth of business as companies who are involved in CSR
activities builds their reputation rapidly.
There are different benefits of CSR activities on business and some of these are listed below-
Increase employee loyalty- CSR includes fair treatment of employees. If any
organisation is involved in providing good jobs and boosting morale of employees, this increases
employee loyalty (Paradkar, Knight and Hansen, 2015).
Social concern- This includes helping victims of epidemics, fighting persistent poverty,
assisting people displaced by earthquakes or natural calamities.
Prevent financial ramifications- When organisations have compliance with both
national and international law through self regulatory processes helps to prevent fines. This
keeps business on lower legal expenses.
Maintain positive reputation- If organisations are involved in CSR activities like
plantation, free education to poor, donations, charity, giving food to needy people. All CSR
activities are displayed by the company on website. These include-
Environmental consciousness- This includes environmental related issues like reducing
waste, minimising carbon footprints, recycling, no use of polythene, plantations, etc. A company
can build green reputation in front of clients by using and producing sustainable products,
lowering energy usage and supporting environmental causes.
Local community- This includes involvement in local community projects by financial
donations, connecting customers with project leaders, employee participation or promotion of
projects by advertising and fundraising. This enhances CSR credentials with customers.
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The corporate responsibility of Tilman Brewin Dolphin is effective as this company
shapes the day to day running of their business. This company take care of employees of the
company and they manage their business in a good way that reflects commitment towards
society. Tilman Brewin Dolphin is involved in charitable activities at corporate as well as office
level. According to this organisation the way in which a company is treating its employees
indicates that this company will sustain longer in market. This company focuses on respecting he
environment and actively managing the impact of business activities on society. The social
activities done by this organisation are listed below-
Charitable Partnerships- This company has collaborated with three companies that share desire
for creating access to opportunities for more people. One of the partnership equips school pupils
with the skills, experience and aspiration for succeeding in life.
Giving- The employees of the company supports charity and they are involved in fundraising for
various charitable organisations.
Small Grants Programmes- The employees are invited to nominate local charities and this
enables them to donate money to specific causes that develops value among them.
Volunteering- Every year one employee is paid a day off to volunteer for the charity
organisations.
CONCLUSION
It has been analysed from the above report that innovation is the process of changing
product or process of the company. It helps in growth and development of the company. The
advancement in technology helps in economic as well as social development of the company.
There are various opportunities that a business can grab and make more profits. CSR activities
are initiated by companies for making a good image and reputation of the brand.
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REFERENCES
Books and Journals
Aarikka-Stenroos, L., Sandberg, B. and Lehtimäki, T., 2014. Networks for the
commercialization of innovations: A review of how divergent network actors
contribute.Industrial Marketing Management. 43(3). pp.365-381.
Brunswicker, S. and Van de Vrande, V., 2014. Exploring open innovation in small and medium-
sized enterprises.New frontiers in open innovation.1. pp.135-156.
Brusakova, I. A. and Kosuhina, M. A., 2015, May. The fuzzy logic method for innovation
performance measurement. In2015 XVIII International Conference on Soft Computing
and Measurements (SCM)(pp. 291-293). IEEE.
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