Sample Assignment on Business Environment _ Sophos PLC (GC01765)

Executive Summary

The globalized world becomes more concentrated with new innovating materials as well as advanced technology. It finds that the global business field has more connected with materials as well as advanced technology (Briton, 2017). It is required to understand the effect of innovation and technology in the business sectors through a descriptive study. This paper mentions the requirement of technology and innovation in a business organization like Sophos PLC. It is a software and hardware firm to serve the security services to the clients. After that, this paper applies the CSR model in Sophos PLC to moderate and ensure the CSR functions in Sophos PLC with the connection of Carroll’s CSR model.

Table of Contents

Executive Summary.

Task 1. 3

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 Sophos PLC

1.3 Conclusion.

Task 2.

Introduction.

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

2.2 Apply Arie Carroll’s (1991) CSR model to analyses Sophos plc.

2.3 Conclusion.

3. References.

Task 1

1.0   Introduction

At present, most business organizations are arranged their operation activities on the basis of artificial intelligence as well as automation (Gupta, 2016). It is required to understand the effect of innovation and technology in the business sectors through a descriptive study. This paper mentions the requirement of technology and innovation in a business organization like Sophos PLC. It is a software and hardware firm to serve the security services to the clients. The main products of Sophos are communication endpoint, encryption, and network email and mobile security and threat management. The key founders of this company were Peter Lammer and Jan Hruska The Headquarters of Sophos are situated in Abingdon, United Kingdom. The present CEO of this company is Kris Hagerman has been worked here since 2012. The total revenue in 2019 of this company is 710.6 million USD (Sophos PLC Annual Report, 2019). The key subsidiaries of these companies include Cyberoam, Invincea, Mojave Networks, Inc. This paper mentions the requirement of technology and innovation in a business organization like Sophos PLC. After that, this paper applies the CSR model in Sophos PLC to moderate and ensure the CSR functions in Sophos PLC with the connection of Carroll’s CSR model.

1.1 Assess the impacts of innovation and technology

According to Briton (2017), Innovation and technology have huge positive effects on the business functions of a business organization. Innovation means generate new ideas, thoughts, imaginations by the use of a systematic approach. It is applied to get the best solutions by which new needs and requirements can be met. According to Michel (2015), Technology indicates the summation of techniques, skills, and methods to do the task with great quality and timely basis by which one can gain objectives. In the case of business organization, Innovation and technology have huge positive effects presented in the below description:

Improve and ensure effective communication: Every business firm needs to improve the quality of communication channels and ensure effective communication among the various stakeholders of the organization. Farhan Suleman (2019) stated that Innovation and technology offer various types of new applications and software by which business organizations can easily connect with their members and get instant feedback from the members. Some of the technologies include phone services, video conferencing, Zoom, Skype, and email messaging systems. Effective communication is highly needed for all organizations to connect with the employees and customers to meet their needs and objectives.

Technology Improves Efficiency: Every business firm needs to improve the efficiency of its activities. Guy & the Blog (2017) stated that innovation and technology offer various types of new applications, artificial intelligence and robotics system by which business organizations can easily improve their business performance and efficiency. Farhan Suleman (2019) stated that the use of new innovation and technology in business helps to save time and cost of services and enhance efficiency in productivity.

Protection against Attacks: At present, cyberattacks are the threats of the business organization to manage their important information. Rowley (2018) stated that Innovation and technology develop the cybersecurity control process for protecting the business firm from cyber attacks.

Improve employees’ productivity and efficiency: Farhan Suleman (2019) stated that Innovation and technology offer various types of new applications and software by which business organizations can easily connect with employees and deliver proper guidelines to the employees that help to increase their efficiency in the workplace with the higher level of productivity. Employees also know the process of running various innovations and technologies in the workplace.

Ensure Knowledge management: Knowledge management is important to ensure business prosperity. Farhan Suleman (2019) stated that Innovation and technology offer various types of new applications and software by which business organizations can easily manage their data and information that help to ensure knowledge management in the workplace.

Increased Employee Engagement: Employee Engagement is needed for every organization to ensure employee satisfaction and provide them adequate guidelines of the business functions.  Innovation and technology develop various types of new applications and software like virtual communication systems by which employees can easily connect with the upper-level managers to take participate in the various administrative activities (Farhan Suleman, 2019).

Ensure market Growth: By implementing the latest technological tools, business firms can expand their market area and ensure a higher level of growth by offering good customers services.  Innovation and technology can manage the complex situations of business and develop favorable policies to ensure sustainable growth of the business (Farhan Suleman, 2019).

Ensure business Expansion: By using innovation and technology, business firms can expand their market area and connect with the global market (Guy & the Blog, 2017). The competitive advantages are gained by the business firms through implementing better innovation and technologies in the workplace.

Improve customer satisfaction: By using innovation and technology, business firms can easily connect with the customers and offer them quality services by which customers may satisfy with the business firms (Farhan Suleman, 2019)……………………………..

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