Analysis of Next PLC: Business Environment, Tech, and CSR

This report provides an executive summary and detailed analysis of the business environment, specifically focusing on Next PLC. It examines the impact of technology and innovation on the company's profit, growth, and sales, highlighting strategies like customer relationship building, cost reduction, and market share increase. The report also assesses the significance of corporate social responsibility (CSR) for Next PLC, emphasizing its role in enhancing public image, improving brand awareness, and gaining a competitive advantage. It explores Archie Carroll's Pyramid of CSR, outlining the economic, legal, ethical, and philanthropic responsibilities of the company. The report discusses the financial and ICT challenges faced by the company, such as lack of expertise and financial support, while also highlighting the positive impact of technology on globalization and operational effectiveness. The report concludes with a comprehensive overview of how Next PLC utilizes technology and CSR to achieve its business objectives and maintain a sustainable position in the market.

Environment final

EXECUTIVE SUMMARY
The report tells evaluate about the business environment which means that organisation
have to analyse both the internal as well as external factors so that they can compete in business
environment. This stated that there are some innovation and technological changes which help
organisation to develop strategies and adopt them in an effective manner.

Contents
EXECUTIVE SUMMARY.......................................................................................................................2
INTRODUCTION.....................................................................................................................................4
MAIN BODY.............................................................................................................................................4
Explain the impact of technology and innovation and asses how this affect the profit, growth and sales
of selected organisation...........................................................................................................................4
TASK 2.......................................................................................................................................................6
Assess the significance of corporate social responsibility in context to selected organisation.................6
Introduction of Archie Carroll’s Pyramid of CSR...................................................................................7
CONCLUSION..........................................................................................................................................8
REFERENCES..........................................................................................................................................9

INTRODUCTION
Business environment is an environment which means that there are many factors that
need to be considered while developing and expanding their business. To analyse the business
environment is very necessary which means that it help organisation enhance their productivity
and efficiency in organisation (Ali, 2019). Moreover, with the help of this analysis organisation
can easily identify the threat so that they can overcome and make effective decision making. In
the given report, Next Plc is taken as a base consideration. Next Plc. is a multinational British
organisation which operate in various countries which are UK, Asia, Europe and other and have
500 stores. They distribute different products which include home products, footwear and many
other accessories. The report includes the impact on technology and innovation and it also
include that how it impacts the profit, sales and growth of organisation. There are some
importance of corporate social responsibility and the model for CSR which is Archie Carroll’s
model.
MAIN BODY
Explain the impact of technology and innovation and asses how this affect the profit, growth and
sales of selected organisation
Technology and innovation is one of the most effective part of organisation so that they
can achieve their business objectives successfully. If organisation do not adopt the technology,
then it will hinder the growth and success and if they adopt appropriate technology then they can
compete with other organisation. With the reference to Next Plc, they have developed strategies
so that they can innovate new goods and services in order to reduce the work cost. The selected
organisation has to increase their turnover which can be done on the basis of creativity made by
organisation. Some of the factors that contribute to the success of organisation and growth of
nation which is explained in detail below:
 Build relationship with customers: The technology and innovation plays a significant role in
maintain the relation with their customers. In relation to Next Plc., they change their goods
and services which is managed and assessed by management of organisation which lead to
increase in sales and revenue of organisation.

 Reduce the surplus and expenses: In this factor innovation contribute that this help
organisation to minimise the waste so that they can achieve the objectives and goal of
organisation (Carlucci and Schiuma, 2018). With the reference to Next Plc., they mainly
focus on producing the products in such a way that they can reduce the duplicate. This lead to
enhance their profitability ratio by reducing the cost so that they can remain sustainable in
market.
 Increase the market share: The term innovation helps organisation to improve their
efficiency so that they can increase their growth and opportunity in market (Charter, 2017). In
relation to Next Plc., they have to build a team so that they can establish the goods and
services in creative way. This help organisation to increase their brand name and market
position in clothing industry. with the help of this they analyse the changing trend and
identify the strategy of competitor.
 Enhance the relation of employees: To enhance their productivity in future as they have to
satisfy the products as the selected organisation with the help of this can gain and enhance
their productivity. This will help organisation to maintain cordial relationship with their staff
members so that they can run their business smoothly.
The technology is the main component of organisation because it directly affects the
performance of organisation. For this they have to adopt and implement the latest technology in
organisation. The main thing is that the selected organisation creates a team so that they can
develop some creative ideas to use the new technology so that they can remain competitive in
industry (Cherunilam, 2020). With the help of this Next Plc., use technology of the development
of their business which lead to increase their performance in market. Next Plc, uses various
techniques of technology which include Internet of things (IOT), autonomous database, artificial
intelligence and block chain. This technology is adopted by them so that they can maintain their
performance level. to cut the expenses and cost they use machine learning so that they can
effectively achieve business goals effectively. On the other hand, the selected organisation uses
artificial intelligence to analyse that the manufacture has deliver their product to their customer
in proper way. The most effective thing done by the selected organisation is that they have
launch their first clothing which is track on block chain. This is made in the form of QR code.
Some of the roles of changes in technology for the economic progress which is mentioned
below:

 Effective communication in business: This is important role of technology is that they
influence the selected organisation which is that they have to connected with others
(Hui, Phouvong and Phong, 2018). So, that they can enhance and increase their operation
and can perform effectively.
 Operational effectiveness: With the help of technology Next Plc., can effectively
improve their productivity and performance as they can introduce the software. By using
that software, they can easily attain the goal, eliminate hurdles and many other factors.
With the reference to Next Plc, the management use various techniques in order to
maximise their sales and revenue of organisation.
 Globalisation: In addition to reviewing market practises, new technology leads to
inventions or improvements in products or services. Technology can help to accelerate
globalisation to new heights, allowing Next PLC to run a business that could promote
wealth and success in the near future.
The financial and ICT issues for key business functions
 Lack of expertise: The employees do not have abilities, knowledge and skills which is
requires in order to operate the business. This is because when organisation has acquired
the ICT system (Ji-fan Ren and et. al., 2017). In relation to selected organisation which
is Next Plc, the issue and challenges arise when the have adopted and use the ICT
system which affect their activities.
 Financial support: The main problem occurs also when they coordinate with the ICT
system which is used by organisation in order to develop their activities. In other words,
it can be said that it is still a big problem that arise in organisation. They do not have
proper abilities in order to decrease the expenses which are administrative an overhead.
 The rate of transition: Modern ways of working with business systems are exceedingly
difficult to devise because they are diametrically opposed to the current structure which
necessitate a shift in strategy and organisational skills.
In context to the select organisation, they have generated high revenue and increase sales
of organisation when they have innovated and adopt the new technology. The first product
launched by them in the year 2019 as they have earned sales and revenues of £3,917.10 and
£599.10 (Jorfi, Nor and Najjar, 2017). To enhance and influence the customer as they have
conduct various campaign and advertise their product in order to promote their products.

With the help of this they have increase their sales and revenue of organisation. In other
words, it can be said that they have built their plans for business which help manager of
selected organisation to increase their productivity and profitability.
TASK 2
Assess the significance of corporate social responsibility in context to selected organisation
The term corporate governed is defined as the rules, regulation and policies which is
made by them in order to operate in an effective manner (Khan and Quaddus, 2017). On the other
hand, the second important term is corporate social responsibility which means that organisation
have to take some measures so that they can deal with the social and environmental issues. With
the help of this Next Plc, can effectively sustain in business. Some of the significance and
importance of corporate social responsibility which is explained below:
 Enhance public image: This is the most important as this explains that staff members have
to manufacture the product in good way by following all policies. In relation to Next Plc, to
increase their brand image and competitive in industry so they have to take some measures
for corporate social responsibility. In other words, it can be said that the selected organisation
take step for corporate social responsibility to attract their customers and gain competitive
advantage.
 Improve brand awareness: The most important for every organisation is to build their
corporate image which means that they have to achieve their business goal in effective and
efficient manner. with the reference to Next Plc, they do not involve in any illegal activities
which help them to attract their customer. So, that they can purchase their products as the
selected organisation main focus is to involve in corporate social responsibility. The main
aim of doing this is to increase the brand awareness and reputation in market.
 Cost saving: The cost saving is defined as where organisation have to analyse and adopt the
different factors which help them to improve the environmental factors (Lyu and Hwang,
2017). This can help Next Plc, to reduce their manufacturing cost and this can be done when
the organisation eliminates the labelling. The main goal of Next Plc for future period, is to
focus on the cost of manufacturing.
 Involvement of employees: This is one of the most important for corporate social
responsibility is that they have to make the product in such a manner that they do not breach

any policies and practices. With the help of this, the selected organisation can easily increase
their bran reputation in market. The main corporate social responsibility against employees is
that they provide various training and development sessions. They also select recruit talented
candidates so that they can sustain in organisation for long time.
 Advantage from competitors: The last factor which tell about the importance of corporate
social responsibility is that they have to develop the strategies. So, that they can contribute to
CSR which help selected organisation to strengthen their position un market. With the help
of this they can gain competitive advantage in industry.
Introduction of Archie Carroll’s Pyramid of CSR
This model explains that corporate have to find ways so that they can met with the duties
and social obligations. There are some factors which is given by Carroll which include ethical,
economic, discretionary and legal. The main objectives of CSR are to gain profit and achieve
business objectives (World Bank, 2017). The author has defined that they have to first achieve
the ethical norms and then achieve the philanthropic task. The another term is CSR pyramid
which means that organisation have to involve in four sections which are activities, procedures,
decisions and strategies. The main objective of every organisation to participate in CSR activities
so that they can comply all the legal rules and regulation in order to increase their profit. The
main person responsible for conducting the corporate social responsibility is management and
owner of select organisation. Some of the factors which is followed by the select organisation
which is Next Plc which is mentioned below:
 Economical: The main aim of select organisation is to sustain in market for long time period
which means that they have to perform various activities in order to achieve business
objectives. With the reference to Next Plc, the manager of organisation gives various benefits
so that they can contribute in society so that they can maxima the profit margin in future
period.
 Ethical: This is most significant factor where they have to perform activities which is based
on morality. They selected organisation have to put their efforts so that they increase their
brand image in their industry. To be ethically, they have to give effective services so that
they can enhance their productivity which help to remain competitive in marketplace.

 Legal: The third factor is legal which means the selected organisation which is Next Plc have
to follow and comply all the legal rules and regulation. The rules and regulation is related to
trade, welfare and industry so that they are connected with each other. With the reference to
Next Plc, management comply all laws so that they can operate in an effective manner which
help them to compete in market.
 Philanthropic: This is the last factor which means that every company is responsible to
conduct and raise money. In other words, it can be said that they have to raise money for
their community, society and stakeholder. In context to selected organisation, there main aim
is focus on team goals so that they increase the brand awareness and add value to its
customer in market. The main area of this type of factor is top of hierarchy as the selectee
organisation have to reduce the negative impact on environment which can be done by
planting more trees and use better resources.
From the above discussion, it is analysed that organisation main duty is to perform
various functions which is discussed in detail. The factors include legal, social, ethical
and philanthropic. With the reference to Next Plc, they have to comply all the legal
policies, rules and regulation so that they can perform their duties and activities in an
effective manner. In this way the selected organisation has to take knowledge of the legal
policies according to their industry. Moreover, with the help of this they have can attract
their customers and can maintain their opposition in market. So, they have to take various
measures so that they can sustain in market for long time period.

CONCLUSION
From the above discussion, it concluded that innovation and adopting the technology is
very important factor which means that they can use the new technology. With the help of this
they can innovate the latest product and services in market. In this way they can attract customer
so that they can purchase their goods from their stores. There are some factors that contribute to
the success of organisation growth and development by using the changing technology. This
include build relationship with customers, reduce the expenses and surplus, increase the market
share and enhance employee relationship. there are some roles of using technology such as
effective communication, operational effectiveness and globalisation. There are some ICT issues
for functions of business which include lack of expertise, financial support and the rate of
transition. The report also discussed about the importance of corporate social responsibility such
as enhance public image, brand awareness, cost saving, involvement of employees and
advantage from their competitors. In last, it also tells about the Archie Carroll’s model which
include four activities such as legal, ethical, social and philanthropic.

REFERENCES
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