Business environment .docx - Student ID Page |1 Critical evaluation of Business Environment Lloyds Bank PLC Word count 2582 Student ID Page |2 Executive

Business environment .docx - Student ID Page |1 Critical...

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Student ID: P a g e | 1 Critical evaluation of Business Environment: Lloyds Bank PLC Word count: 2582
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Student ID: P a g e | 2 Executive summary The assignment will elucidate about the importance of innovation and technological developments in the advancement of Lloyds Bank PLC. Various business processes from sales, marketing, revenue and production activities will be critically examined in the report to comprehend the influence of technological innovation. Further, the CSR and corporate governance practices observed in the company will be described.
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Student ID: P a g e | 3 Table of Contents 1.0 Introduction ................................................................................................................................ 4 Task 1 ............................................................................................................................................... 5 2.0 Critical Assessment of the impacts of innovation and technology and how it has affected the operations, sales, profits and growth of Lloyds Bank PLC ............................................................. 5 2.1 A brief overview of Lloyds Bank PLC .................................................................................. 5 2.2 Overview of technological innovation ................................................................................... 7 2.3 The relationships between innovation and economic development ...................................... 7 2.4 The financial and ICT issues for key business functions: Lloyds Bank PLC ........................ 9 2.5 Impact of innovation on the operations, sales and the profits of Lloyds Bank PLC ............. 9 Task 2 ............................................................................................................................................. 11 3.0 Evaluation of the importance of Corporate Social Responsibility (CSR): Lloyds Bank PLC 11 3.1 Overview of corporate governance, corporate social responsibility and its importance ..... 11 3.2 The corporate governance responsibilities of the Board of Directors to the stakeholders of Lloyds Bank PLC ...................................................................................................................... 12 3.3 The four areas that make up corporate social responsibility as identified by Archie Carroll (1991) in alignment with Lloyds Bank PLC .............................................................................. 13 5.0 Conclusion ............................................................................................................................... 15 Reference List ................................................................................................................................ 17
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Student ID: P a g e | 4
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Student ID: P a g e | 5 1.0 Introduction Technology have been a fundamental element behind the growth and advancement in industrial sector from the time of its inception, which is validated by the incident of Industrial revolution. Baden-Fuller and Haefliger (2013) opined that technology outlines the specific processes and skills employed to achieve certain desired output, address certain issues or enhance the lifestyle along with reducing the physical labour. Further, the scholar added that innovation have been a primary part of technology from the time of its origin. Innovation reflects the idea behind formulating or creating something new, creative that is yet not used by anyone. Thus, it is quite apparent that innovation and technological development move ahead simultaneously. Kogan et al.(2017) observed that technological innovations have brought tremendous shift in the industrial sector, both financially and in terms of improving the operations. Thereby, the primary aim of the assignment is to highlight the importance and influence of technological innovation over the various business activities, namely, operations, sales, profits and growth. The company selected for evaluating their business growth in terms of above mentioned criteria is Lloyds Bank PLC. The chosen organisation is a British commercial bank established in the 1765. With passing time it has adopted and successfully implemented numerous technological innovations in different domain for surviving the market competition and expanding its customer base.
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  • Summer '20
  • Lloyds TSB, Lloyds bank Plc

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