MOD003353 Business Environment

ASSESSMENT INTRODUCTION TASK 1

“Innovation is ‘the first, practical, concrete implementation of an idea in a way that brings broad based, extrinsic recognition to an individual or organization”. Plsek (1997: p.30),

Michael Porter defined innovation in terms of improvements and better ways of working.

Innovation can take place in products, services and business models (dimensions of innovation).

ASSESSMENT TASK 1:

A. Assess the impacts of innovation and technology and how it has affected the sales, profits and growth of one of the following companies.

1 Aston Martin Lagonda (Plc)

2 WPP Plc

3 Bank of Georgia Group Plc

4 AJ Bell Plc

5 TUI Plc

B. Presentation, referencing and grammar

ASSESSMENT CRITERIA

• Knowledge and understanding of technological innovation

• Understanding of the relationships between innovation and economic development.

• Abilities to appreciate the role of technological change in economic progress.

• Identify the financial and ICT issues for key business functions

POINTS TO CONSIDER:

1. Demonstrate your understanding of innovation, and the role of technological change in economic progress.

2. A brief overview of your chosen company, and practical illustrations of how innovation has impacted the operations, sales and the profits of your chosen company

1. Morrison, J. (2020) The Global Business Environment, (5th edition), Palgrave.

2. Needle, D. (2015) Business in Context, An Introduction to Business and Its Environment, (6th edition), Cengage Learning.

3. Boddy. D. (2016) Management An Introduction, (7th edition), Pearson Press.

4. Please visit the web site of your chosen company for its annual report and other necessary information. In addition to the recommended textbooks and the website of your chosen organisation, you are expected to read other textbooks and journals for your research.

ASSESSMENT INTRODUCTION TASK 2:

“Corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaching those objectives and monitoring performance are determined”  

Corporate social responsibility (CSR) can be defined as where a business attempts to meet certain ethical, legal and commercial expectations as set by society. As a business goal, corporate social responsibility has grown in importance over recent years.

ASSESSMENT TASK 2:

A. Evaluate the importance of Corporate Social Responsibility (CSR) for the same organisation of your choice in Task One above. (20 marks)

B. Apply Archie Carroll’s (1991) CSR model to your chosen organisation.

C. Presentation, grammar and referencing

ASSESSMENT CRITERIA.

• Knowledge and understanding of corporate governance.

• Abilities to appraise and recognise use of corporate governance and ethics within a business context.

• Understanding of the importance of Corporate Social Responsibility (CSR)

• Understanding of a CSR model (Archie Carroll’s model) and its practical applications.

POINTS TO CONSIDER

1. You must briefly discuss corporate governance, including the responsibilities of

the Board of Directors to the stakeholders.

2. Explain the four areas that make up corporate social responsibility as identified by Archie Carroll. (1991). Apply this model to your chosen company. Please give relevant practical examples to demonstrate your understanding of this model.

READING LIST

1. Morrison, J. (2017) The Global Business Environment, (4th edition), Palgrave.

2. Needle, D. (2015) Business in Context, An Introduction to Business and Its Environment, (6th edition), Cengage Learning.

3. Boddy, D. (2016) Management An Introduction, (7th edition), Pearson Press.

4. Please visit the web site of your chosen company for its annual report and other necessary information.

In addition to the recommended textbook, you are expected to read other textbooks and journals for your research.