Business Report: Modernisation, Ethics and CSR in Context

This report explores the changing and dynamic nature of the modern business environment, highlighting the impact of technology and modernisation on various companies. It examines how businesses leverage digital marketing, quality management techniques, and innovative strategies to achieve success in a competitive market. The report emphasizes the crucial role of ethics and Corporate Social Responsibility (CSR) within organisations, discussing how ethical considerations, social, cultural, economic, and environmental factors influence business operations and brand image. It concludes that businesses must prioritise ethics and CSR to thrive in the modern world, adapting to changes and fulfilling their responsibilities to stakeholders. The report also includes references to academic journals and publications that support the findings and arguments presented.

CONTEXT OF BUSINESS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Changing and Dynamic Nature of Business................................................................................3
Responsibly, Sustainably and Behave Ethically..........................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
In this modern world, most business are able to achieve high success by using existing
technology. Currently those innovative gadgets, machineries and tools are available in the market
which can easily improve productivity of an organisation. This report mainly discusses value of
ethics and CSR within organisations. Changing and dynamic nature of business also has
discussed in this report.
MAIN BODY
Changing and Dynamic Nature of Business
Day by day increasing levels of modernisation are highly affecting different companies
and businesses in the global market. Currently each business is able to increase its existing
performance by employing modern technology within their daily operations (Mushtaq and et.al.,
2017). Top-level management within most businesses are completely focusing on take
advantages from existing modern technology. In this changing and dynamic nature of business,
many new and productive business strategies have come in the market which can easily support
to a company for gaining huge profit in the market. For example; Marks and Spencer has
succeeded in expand its business operations within many countries because of changing and
dynamic nature of business. There is Marks and Spencer is one of the leading retailers in the
United Kingdom which has taken huge advantages from modern technology. Nowadays many
other businesses are also taking huge advantages through modern technology. There is hi-fi
technology is the main source which has converted traditional business environment into
dynamic business environment.
Many new technological innovations are continually coming in the market which enables
to various businesses for achieving positive results in the market. There is digital marketing
strategy is also a major gift of this modern world which currently uses by almost all businesses.
Currently digital marketing tool is really one of the finest tools which support to companies for
boosting their products and services in different market segments. Literally, nowadays those
companies can gain high profit in the market which has an effective marketing strategies, in
which digital marketing is one of the major marketing strategies to different companies. On the

other side, organisations are able to use various new quality management techniques also in this
dynamic business environment. In this modern world, most customers are ready to pay any cost
for buying quality products and services (Varlamova, 2020). That’s why each business or
company is responsible to use various quality management techniques in their production
processes for providing best quality products and services to different customers. This is a most
productive way also increasing level of customer service in this modern and dynamic business
environment These all factors are too favourable for various businesses in this modern world.
Responsibly, Sustainably and Behave Ethically
In this dynamic and modern world, top-level management within each business has
required to completely follow all ethical considerations in their daily operations. There are ethics
plays very great role in a company, because by maintaining ethical within business environment
a business or company can easily improve its brand image in the market. Currently various
factors are highly affecting to businesses called social, culture, economic and environmental.
Each business should create a pre-plan for dealing impact of these factors. For example; social
factors affect to a company for fulfilling its CSR (Corporate Social Responsibilities). Business
always has required to fulfil their CSR on time to positively influence society, people and
customers. Currently most people always like to buy products and services from those
organisations which always fulfils their CSR on time. That’s why each business should highly
consider this factor in their daily operations (Dimitrova, 2018). There are CSR impact on
leadership aspect also within an organisation, because a leader always need to complete many
tasks which has relating to corporate social responsibility.
On the other side, culture factors also affect to a company for building an ethical work
culture in their business environment. Existing management within businesses always need to
make some productive strategies for dealing with issues relating economic factor. For example;
management can create strategies for properly dealing with poor economic conditions of any
place. Lastly, issues which has based on environmental factors are also highly affect to a
business to systematically adhere each rule and regulation in daily operations which has passed
for protecting environment. These all factors enable to a company to gain huge profit in this
modern world.

CONCLUSION
It can be concluded that this dynamic and changing world is very high growth
opportunity to different businesses or companies. On the other side, existing management within
all businesses should highly follow considerations which ha based on ethics and CSR (corporate
social responsibility).

REFERENCES
Books & Journals
Mushtaq, M., and et.al., 2017. Forging ahead: How to thrive at the modern workplace. Iranian
Journal of Management Studies. 10(4). pp.783-818.
Dimitrova, Y., 2018. Characteristics of Successful Company in the Modern Business
Environment. Икономически изследвания. (5). pp.86-91.
Varlamova, Z., 2020, January. Transformation of an Open Innovation Model Under Conditions
of the Modern Business Environment. In Ecological-Socio-Economic Systems: Models
of Competition and Cooperation. (ESES 2019) (pp. 447-450). Atlantis Press.