MOD 003353 Business Environment Assignment with Royal Mill Plc (GC01801)

Executive Summary

After the world revolution, the technology sector is highly spread in all sectors around the world. Firstly, the traditional systems are replaced through the innovation of modern technology. The business sectors are highly covered by modern technology that increases the number of business firms as productivity of the business firms. Firstly, this report will be described the technology and innovation necessary in the business sectors, especially for Royal Mill Plc. In addition, corporate social responsibility is also necessary for every business firm to ensure social acceptance by every stakeholder. Secondly, this report analyses the importance of CSR and analyses Carroll’s CSR and its application in Royal Mill Plc.

Table of Contents

Executive Summary.

Task 1.

1.0        Introduction.

1.1 Assess the impacts of innovation and technology.

1.2 How innovation and technology has affected the operations, sales, profits and growth of Royal Mill Plc

1.3 Conclusion.

Task 2.

Introduction.

2.1 Evaluate the importance of Corporate Social Responsibility (CSR) for the organization.

2.2 Apply Archie Carroll’s (1991) CSR model to analyses Royal Mill plc.

2.3 Conclusion.

References.

Task 1

1.0   Introduction

According to Shapira (2015), technological development has a significant impact on all sectors in the world including business, society and personal life. The business sectors are run by modern technology that increases the number of business firms as productivity of the business firms. Regner (2017) stated that the daily activities of business organizations are easily accomplished with the help of technology. In this task, this report describes the technology and innovation necessary in the business sectors, especially for Royal Mill Plc. Royal Mail plc is one of the biggest postal & courier services companies in the UK. At the beginning of 1516, this company was first launched its activities. The headquarters of this company is situated at 100 Victoria Embankment, London. It has nearly 162000 staff that run the operating activities (Royal Mail Annual report, 2019). Royal Mill plc offers various postal & courier services including post, parcel services, and EMS throughout the world. The quality of services and delivery time of this company are highly satisfactory.

1.1 Assess the impacts of innovation and technology

At present, innovation and technology are highly used for business purposes. According to Watson (2015), “innovation” indicates the creation of something new that brings favorable outcomes for human beings. Rihma (2014) stated that technology indicates a system by which people can use it to create or produce something new with an easy and short effort. By new innovation in the technological field brings good outcomes for the business firms (Lorange, 2018). It ensures business growth, productivity and profitability. At present, most business firms use new innovations and advance technology to run production, distribution and other operating activities. The new innovation and advanced technology have a great influence on the business performance. Some impacts of innovation are described below:

Development continuity: The new innovation helps to ensure the business development not only for a certain period of time but also for a continuous basis (Bigley, 2014). Simultaneously, it increases the business productivity and services quality by enhancing the performance of the employees. The new innovation also helps to ensure sustainable profitability of the business that develops the business position (Watson, 2018).

Increase the brand equity– The innovation helps to ensure brand equity in the market by ensuring the best quality of products and services (Shapira, 2015). It develops the favorable production process, services quality and performance of the employees that increase the brand equity of the business.

Easy to attract customers and feedback system– The innovation helps to attract new customers by effective marketing policy. The features of products and services affect the choice of the customers (Shapira, 2015). In addition, the favorable price, the quality of services, delivery time and feedback system affect the satisfaction of the customers. Here, technology is used as a medium to connect with the customers and provide the best services and feedback of problems (Watson, 2018).

Effects of Social media– The modern business world is a globalized world. The business organization can run its business activities all over the world with the blessings of innovation. Social media is one of them. It is a networking platform on which the people of different countries, nations, and societies are connected to each other. The geographical boundary is not mattered here.  Therefore, it brings a surprising impact on the business sectors (Shapira, 2015). At present, business organizations use social media like Facebook, Twitter, Youtube, Instagram for their business advertisement platform. Social media helps business firms to connect with potential customers by which they can understand the customers’ demand and deliver the expected services.

The technology has a significant impact on business growth, productivity and profitability. The technology provides the following   outcomes for the business firms:

Easy and effective communication system– By using social media and other internet-based platforms such as Facebook, email, Business firms can ensure effective communication with the customers and other stakeholders of the business (Lorange, 2018).

Increases efficiency– Technology develops the new pattern of production and increases the business productivity and services quality through enhancing the performance of the employees with a greater level of efficiency (Lorange, 2018).

Protections of assets– Most organizations face difficulties to protect their valuable information and assets from cybercrimes and hacking (Lorange, 2018). Technological advancement helps remove these security problems by providing security apps and software.

1.2 How innovation and technology has affected the operations, sales, profits and growth of Royal Mill Plc

Royal Mail plc is one of the biggest postal & courier services companies in the UK. At the beginning of 1516, this company was first launched its activities. It has nearly 162000 staff that run the operating activities (Royal Mail Annual report, 2019). Royal Mill plc offers various postal & courier services including post, parcel services, and EMS throughout the world. The quality of services and delivery time of this company are highly satisfactory. Rihma (2014) stated that Innovation and technology ensure the business growth, productivity and profitability of the business. At present, Royal Mill uses new innovations and advanced technology to run the distribution and other operating activities. The following points show the impact of innovation and technology on the business performance of Royal Mill Plc:

Business services

Since Royal Mill Plc is a postal & courier Service Company, it is needed to ensure better services to the customers who are willing to send their materials and other documents from one place to another. Royal Mill Plc has used various internet platforms to take orders of couriers and provides an adequate solution to the problems of their clients over the online platforms (Royal Mail Group, 2016). The physical office of this company has well decorated with technology like computers, telephones and other tools……………

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