Use HARVARD references … all the instructions l will send below …
You are required to write a report of 1250 words on each of the two tasks. Each task is 50%of the total marks for this module. Therefore, you must ANSWER both tasks. Check the atachment for specific guidelines
ASSESSMENT TASK 1:
- Assess the impacts of innovation and technology and how it has affected the sales, profits and growth of one of the following companies. (45marks)
- Spirent Communications(Plc)
- CalisenPlc
- Ryanair Plc
- KingfisherPlc
- Vivo EnergyPlc
- Presentation, referencing and grammar(5 marks)
Total(50 marks).
ASSESSMENT TASK 2:
- Evaluate the importance of Corporate Social Responsibility (CSR) for the same organisation of your choice in Task One above. (20marks)
- Apply Archie Carroll’s(1991) CSR model to your chosen organisation. (25marks)
- Presentation, grammar and referencing (5 marks)
Total(50 marks)
Reading List
- Morrison, J. (2017) The Global Business Environment, (4thedition), Palgrave.
- Needle, D. (2015) Business in Context, An Introduction to Business and Its Environment, (6th edition), Cengage Learning.
- Boddy. D.(2016) Management An Introduction, (7th edition),Pearson Press.
- Please visit the web site of your chosen company for its annual report and other necessary information.
Further Details
This assignment must be completed individually as a management report, following the appropriate academic structure:
- Executive summary
- Table of Contents
- Introduction
- Main body
- Conclusions
- Reference list
- The word limit for this assignment is 2500 words. This word limit does not include the executive summary, tables, diagrams, appendices or references
Executive Summary
Classified as a multitrillion dollar business industry, the global communications industry is one of the most researched industries in the contemporary society. Some of the industries that shape up the global communication industry include advertising, public relations, social networking, and publishing. Innovation and technology have far-reaching effects on the functionality, profitability, and growth of a business. In the contemporary society, utilization of technology and innovation dictate the nature and level of market share a company receives within its industrial setting. In the business world, the importance of technology and innovation is effectively brought out in technological innovation. Abbreviated simply as CSR, corporate social responsibility refers to the sum of activities, investments, and processes through which business and related entities self-regulate with the main aim being to participate and contribute to the societies they are set up in and beyond. The term innovation may be defined as the sum of activities and investments through which new combinations are carried out while introducing new production methods and goods. Technology is defined as equipment and machinery developed or resulting from the application and utilization of scientific knowledge.
Technological innovation and corporate social responsibility
Introduction
Spirent Communication plc
Spirent Communication (plc) presents rich grounds through which technological innovation analysis can be conducted. Spirent is registered as a public limited company but is classified as a multinational telecommunications company. The role of innovation within the company’s functionality and evolution is the main reason for its selection. Headquartered in Crawley, the United Kingdom communications giant has network diagnostics listed as its main product. The company was established in 1936 and registered under the name Goodlife Electrical Supplies. Over time, the company not only changed the range of products and services it provided, but also undertook an evolution in light of its name and registration status. The shift from electrical supplies to telecommunication took place in the period between 1995 and 1997.
Technological Innovation at Spirent
One of the operational areas where Spirent showcases technological innovation is network diagnostics. In computer systems and networking, the term diagnostic program refers to an automated computer program whose main purpose is to identify and determine the operational status presented in hardware, network, system, software, or a combination of two or more. The main aim of diagnostic in computing is to provide a user with information and guidance regarding problems or issues presented in its operation (Webb Wu & Hussain 2020, p. 60). Spirent is tasked with handling some of the most complex networks on the globe. Hence, to effectively undertake its mandate, the company employs unique technological innovations.
Optical Wireless Networks
Optical wireless networks represent one of the technological innovations at Spirent. Dating back to the 2000s, wireless networks have been around for a considerably a period of time and their utility has grown with every new dawn. There are two main challenges experienced in the utilization of wireless networks at large; limited data transfer speeds, and interference realized from the limited scope. In order to address these challenges, Spirent has continually invested in designing and improving optical wireless networks. The optical wireless networks by the company not only ensure data transmission is fast, but are also designed to constantly ensure connectively and transmission take place with minimal, if any, interruptions (Ali & Wood-Harper 2020, p. 37). Currently, use of optical wireless networks accounts for 25% of the total marketshare held by the company. In terms of sales and profit, optical wireless networks account for 46% of the sales and 18% of the profits every quarter since the end of 2018 (Spirent Communication plc, 2019, p.8).
Auto-Charge Innovation
Network systems may differ from one another on various grounds, but they all share in their use of power. Whether it’s a small, big, simple, or complex network system, the equipment within the network will always require charge (Anheier 2020, p. 52). Charge presents one of the greatest challenges in light of networking equipment and electrical devices at large. Spirent has invested in auto-charge as a solution to the problem of constantly charging devices and equipment. Through unique light beams, Spirent is designing systems which would allow automatic charging of devices. The light beams are designed to function through special cameras whose main function is directing and controlling the light beams. As a result of improving its reliability through instituting the autp-charge innovation, the company will be setting itself to grow sales by 10% and the clientele base by an average rate of 4% every quarter. The growth in sales and expansion of the clientele base as a result of improved reliability will lead to a 4% growth at the company (Spirent Communication plc, 2019, p.6).
Fastpass
Safety is one of the most important concerns in networking and computing. The amount of investments designed to constantly ensure safety of networks and systems is constantly increasing. Traditionally, data is transmitted in networks through breaking into small pieces referred to as packets. Packets are transmitted from one point or node within a network to the next until they get to the intended destination. Apart from inefficiencies from moving from one node to the next, transferring data through packets also presents great delays. In the event one node within the system experiences fault or delays, this inefficiency is magnified in light of the entire process’ efficiency. Fastpass is one the innovations presented by Spirent in dealing with the challenges experienced in traditional network transmissions. In place of nodes, Fastpass is designed to function through central arbiters. Compared to the traditional nodes, central arbiters are effective in ensuring seamless transmission and present an arena with improved safety. Compared to how nodes function, Fastpass is designed to make faster and safer decisions with regard to packet routing and related handling. Additionally, Fastpass is designed to ensure routing decisions are outsourced to central arbiters. Due to this, backup is assured in the event one section of the network experiences a challenge or completely goes down. Router overloads and crashes represent some of the common challenges in most networks (Ali & Wood-Harper 2020, p. 51). Fastpass is designed to ensure router overloads and crashes do not stop the transmission of data and safety is not compromised at any point within the course of transferring data. As a result of improving its security through employing Fastpass, the company has grown its sales by 15% and the clientele base has grown at an average rate of 3% every quarter. The growth in sales and expansion of the clientele base as a result of improved and secure systems has led to a 5% growth at the company (Spirent Communication plc, 2019, p.7).
LoRa
Devices within network systems are designed to function differently. Traditionally, limited power devices experience great challenges in light of connecting to and working alongside unlimited powered devices. This is one of the main reasons mobile phones have been unable to connect to wide area networks and related system frameworks. However, Spirent is currently investing in ways through which universal connectivity of devices will be achieved (Witney 2020, p. 14). Commonly referred to as LoRa, this new network framework is designed to allow for devices with minimal or limited power capacity to work alongside wide area networks. With wide geographic areas as the focus, LoRa has been designed to ensure the challenges from limited power capacity are effectively dealt with. LoRa is continuously making the most out of growing investments that has sought to improve the frameworks on which wide area networks operate. Compared to a decade or two ago, the framework and functionality of wide area networks have undergone extensive evolution. With the modern infrastructure, networks are not only growing in size and coverage, but have also evolved into safer, more efficient, and easily accessible over the course of time. Should this innovation be implemented, the company is looking to not only improve its sales and profits, but also experience growth in the clientele base. When implemented, this innovation will reduce threats from cyber attacks by 22%, economic uncertainty by 15% and improve the brand repitation by 46%. In turn, the improvements will lead to at least 5% growth in sales, an average of 7% growth in profits every quarter, and 10% annual growth in the clientele base (Spirent Communication plc, 2019, p.6).
Importance of Corporate Social Responsibility (CSR) for Spirent Communication (plc)
CSR refers to the sum of activities, investments, and processes through which business and related entities self-regulate to participate and contribute to the societies they are set up in and beyond. Societal goals shaping up CSR include philanthropic works, activism, and ethically-founded practices. In the contemporary business and organizational arena, CSR is designed to function as a business model. Integrated into a company or organization’s business model, CSR is designed to provide a framework for social accountability (Morrison 2017, p. 62).
Sprint’s Future Positive
FuturePositive is a 2019 sustainability and corporate social responsibility model by Spirent focusing on four important entities; products, procurement, people, and property. The sustainability program adopted by Spirent is designed to improve standards of social practices, corporate governance, and environmental management within the business as well as in its supply chain (Martín & Jaime Juan González-Masip 2020, p.14). Through FuturePositive, the company has introduced a sustainability approach aligning to global sustainability standards and addressing every challenge that has been identified. Carroll’s Pyramid of CSR
Pioneered by Archie B. Carroll, Carroll’s Pyramid of CSR is one of the important analytical tools through which a company’s CSR can be broken down into its constituent elements and effectively analyzed. The four parts shaping Carroll’s pyramid are economic, legal, ethical, and philanthropic responsibilities from the bottom to the top respectively (Carroll, Brown and Buchholtz 2018, p. 3). Each of the responsibilities presents a unique requirement from the company and the environment in which it functions. In presenting the four responsibilities, Carroll was focused on communicating details about the foundation and infrastructure through which the responsibility of the firm to its environment is established, undertaken, and constantly developed over the course of time. Carroll’s approach is a viable tool for researching and setting up CSR models for analyzing the practices shaping up CSR. Application of this model at Sprint takes a unique approach divided into four elements; people, products, property, and procurement.
Carroll’s CSR pyramid was designed to not only argue how organizations should identify and address social responsibilities, but also why investing in such responsibilities should is significant. One of the main features in Carroll’s CSR is the role of profit; profit in CSR comes first and acts as a guide in developing and implementing CSR activities and programs. At Spirent, growth in the company’s profits was the main trigger for setting up CSR in 2019 and expanding FuturePositive. According to Carroll’s CSR pyramid, the need to ensure CSR laws and regulations are adhered immediately follows the generation of profit. Within the national arena, the United Kingdom Corporate Governance Code represents a unique set of good set of CSR principles designed to govern companies within the London Stock Exchange (Mullerat & Brennan 2017, p. 234). The UK Corporate Governance Code is the foundation on which Spirent designs, implements, and constantly develops the programs and activities shaping up its CSR. The main aim of CSR as presented in the UK Corporate Governance is to provide companies with a framework to consider and take responsibility for their impact in light of the environment, suppliers, shareholders, employees, customers, and communities (Mullerat & Brennan 2017, p. 33). FuturePositive is designed to ensure Spirent not only breaks down the impact of its activities to the employees, shareholders, and supplier, but also on customers, environment, and the community. Evidently, Spirent’s CSR is founded on a unique blend of the UK Corporate Governance Code and Carroll’s CSR Pyramid.
The four parts shaping Carroll’s pyramid are economic, legal, ethical, and philanthropic responsibilities from the bottom to the top respectively. Application of Carroll’s CSR Pyramid model at Spirent takes a unique approach divided into four elements; people, products, property, and procurement. The economic element presented in Carroll’s pyramid affects all the four elements of Spirent’s CSR. Spirent focus is on ensuring that the company not only makes profit from all the four elements in the short term, but in the long term as well. Achieving the goals presented in FuturePositive is underpinned on the company’s ability to remain profitable over the course of time. Similarly, the ethical responsibility presented in Carroll’s model affects all the four elements of FuturePositive. This is brought out in how the company constantly seeks to act ethically and morally in its CSR endeavors. Spirent’s responsibility to give back to societies where it has set up shop and the responsibility to act within the set regulations and laws is in line with Carroll’s CSR Pyramid (Palmer 2015, p. 90). For instance, its adherence to the UK Corporate Governance Code is a manifestation of the ethical and economic expectations presented in Carroll’s pyramid.
Product
The company is responsible for designing a wide range of products in network diagnostics. The company has adopted a CSR which integrates into its business model to ensure that every product being designed takes sustainability into serious consideration. The products from Spirent are designed to meet consumer needs and serve as tools through which global sustainability challenges can be effectively addressed (Conbere, Henri & Heorhiadi 2016, p. 40). Additionally, products from the company are designed to ensure consumer operations with a negative implication on the environment and related identified areas are reduced or completely avoided. CSR is reflected in the manufacturing approach, in which the company breaks down the lifecycle of the products and analyzes environmental implications arising from material waste and use, design processes, and energy use. Through this unique focus, the company is able to provide its market with products designed to ensure continuous improvement of the environment.
Procurement
Procurement represents a unique platform for CSR analysis as it relates to Spirent. The company has extensively invested in constantly auditing its supply chain. Information from the audit is important as it highlights areas through which CSR can be effectively introduced in every area of the supply chain. One of the main goals of the company in light of CSR as it applies to procurement is to introduce and constantly grow high standards of labor practices, environmental management, corporate governance, and social practices (Boddy 2017, p. 33). The company draws confidence from the fact that their CSR approach provides it with a platform to ensure all members of its supply chain are in compliance with different regulations. Additionally, the approach provides for a supportive environment where good practices are shared and collaborative relationships developed.
People
People are integral in any CSR approach. At Spirent, the company is designed to continuously invest in attracting and retaining best talent. Leadership within the organizational setting is designed to focus on identifying uniqueness in people and growing talents in both the short and the long terms (Brahmana Setiawan & Puah 2019, p.15). Spirent has invested in numerous development and training programs that have been designed to ensure engineering skills are identified at young ages and nurtured through different institutions. For instance, Spirent is actively involved in development and training programs for its staff aimed at identifying and nurturing engineering skills. The investment in engineering skills stretches out of the company’s confinements into local schools and universities in numerous areas where the company has set up shop. In ensuring people are effectively addressed in and through the company’s CSR program, there are investments in place designed to engage Spirent in charitable giving activities and global volunteering programs.
Property
Property is one of the conspicuous elements in modern CSR. Property represents buildings and physical objects and presents rich analytical grounds for greenhouse gases generation and reduction (Needle 2019, p. 37). At Spirent, there are investments culminating in a property program designed on inspiring and creating a work environment with minimal, if any, impact on the environment. Laboratories and manufacturing plants owned by the company have been designed to function through energy efficiency frameworks of functionality. Carbon reduction is at the core of the company’s CSR in light of property. The company is constantly working towards ways through which it will minimize its carbon footprint within local and international operations.
Spirent’s Value Creation from Carroll’s CRS Pyramid
Innovative technology and corporate social responsibility are the foundation on which the company has created value in the past three years. Value creation for the company has not only improved sales, but also set the company on a path of continuous growth and improved market share and profitability (Conbere Henri & Heorhiadi 2016, p. 78). CSR and innovative technology have provided the company with methodologies that have not only won global wards, but also established a culture of consistent quality assurance. The company has utilized its CSR in ensuring customers are provided with ways to overcome CSR related challenges such as a reduced carbon footprint. Compared to its competitors, products from Spirent are 50% more effective in reducing carbon and related greenhouse emissions. The value creation approach by Spirent is divided into three major sections; deploy, develop, and operate.
One of the main ways through which the company improves its profitability is through reducing the costs attached to production, securing, and launching of new products, networks, and services. The cost reduction techniques are founded on information that is obtained from CSR implementation data (Rayenda Doddy & Chin 2019, p. 98). In their labs, the company undertakes tests that are focused on reducing the cost attached to developing commodities and networks. This investment creates an arena where return on investment is maximized through accelerating the time it takes for commodities and networks to reach the market.
Measurement of the company’s products is undertaken through realistic scenarios and this is done using scales that mirror market expectations. The company employs both innovation and CSR in bridging the gap presented between the live environment and the lab. Additionally, this creates solutions that customers enjoy in light of greater confidence and fast deployment. In both the short and the long run, this approach has improved Spirent’s profitability by an annual rate of 25% while growing the market share of the company by 5% every quarter. Customer experience and network performance are improved technological innovations present in the operational environment of the company (Conbere Henri & Heorhiadi 2016, p. 62). This culture creates a competitive edge for the company that sets it apart from its competitors. For instance, the company’s investment in virtual tests agents has improved the customer experience and this reflects in the 50% growth of clientele base as well as in the ever-increasing profits.
Conclusion
Conclusively, it is evident to note that, although the framework and implementation of CSR is different from one company and setting to the next, there exists a universal goal stretching across all forms of CSR; to bring companies and relate entities to a place where their operation positively impact and enhance the environment in which they operate as opposed to impacting them negatively. Spirent has effectively invested in ways through which it utilizes technology innovation in identifying and addressing challenges in its local and international market settings. Spirent has benefited from innovative technology and CSR in three major ways; improvement of the company’s market share, increase in sales every quarter, and growth of the company every financial year.
Reference List
Ali, M.B. and Wood-Harper, A.T. (2020). Fostering communication and learning with underutilized technologies in higher education. Hershey, Pa: Information Science Reference.
Anheier, H. (2020). Advances In Corporate Governance : Comparative Perspectives. S.L.: Oxford Univ Press.
Boddy, D. (2017). Management : an introduction. 7th ed. Pearson.
Brahmana, R.K., Setiawan, D., and Puah, C.H. (2019). Corporate leadership and its role in shaping organizational culture and performance. Hershey, Pa: Business Science Reference.
Carroll, A.B., Brown, J.A. and Buchholtz, A.K. (2018). Business & society : ethics, sustainability, and stakeholder management. Boston, Ma: Cengage Learning.
Conbere, J.P., Henri Savall and Heorhiadi, A. (2016). Decoding the socio-economic approach to management : results of the second SEAM conference in the United States. Charlotte, Nc: Information Age Publishing Inc.
Hancock, K.J. and Juliann Emmons Allison (2020). The Oxford handbook of energy politics. New York: Oxford University Press.
Martín, G. and Jaime Juan González-Masip (2020). Knowledge management for corporate social responsibility. Hershey, Pa Igi Global.
Morrison, J. (2017). The global business environment : challenges and responsibilities. 4th ed. London: Palgrave Macmillan.
Mullerat, R. and Brennan, D. (2017). Corporate social responsibility : the corporate governance of the 21st century. Alphen Aan Den Rijn: Kluwer Law International ; Frederick, Md.
Needle, D. (2019). Business In Context : an introduction to business and its environment. 6th ed. Thomson.
Palmer, D.E. (2015). Handbook of research on business ethics and corporate responsibilities. Hershey, Pa. Business Science Reference.
Spirent Communication plc (2019). The Promise of the Digital Age. Assured. [online] investor.relations@spirent.com, West Sussex, United Kingdom: Spirent, pp.1–87. Available at: corporate.spirent.com [Accessed 30 Nov. 2020].
Webb, H.C., Wu, W. and Hussain Al Numairy (2020). Innovation management and growth in emerging economies. Hershey Business Science Reference.
Witney, S.R. (2020). Corporate governance and responsible investment in private equity. Cambridge, United Kingdom; New York, Ny: Cambridge University Press.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
