Anglia Ruskin University London

Student ID :2018058

Module Title: Business Environment

Assessment code: 011

Data submission : 15/12/2020

Module Code: MOD003353

Word Count:

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 Introduction

“Technological advances have been at the heart of economic development. Automation

includes artificial intelligence (AI) and robotics. It is because of these advances that
productivity is increased, leading to economic growth. These benefits save money for
owners. They can invest in technology, which involves capital outlay, but over the long term,
they employ fewer people. Examples are the self-driving car and the algorithms that can
answer customer service queries. But there are also new jobs being created by new
technology. And the people hired are likely to be better skilled and making better salaries
than those in the manual jobs that disappeared. Their work is also likely to involve greater
responsibility. Hence, one of the basic messages of automation is that of changes in the
nature of work. The new jobs require greater education and skills, and are likely to be both
more satisfying and more rewarding (Morrison, 2020).

Define innovation and technology.

Innovation
Innovation is the process of transforming a new one idea in a product or service to be
marketed in market, or in developing new or improved processes. Innovation is not
exclusively an invention nor the application of new technology but is an overall process. In
innovation there are various types such as product Innovation, process Innovation, technical
Innovations and administrative Innovations.

Technology
Technology is the set of methods, techniques and means by which the production of
products or services is achieved. Technology and science are two concepts that are related
to each other, since Technology also uses scientific knowledge to create the artificial
environment around us, but Science is often helped by Technology to achieve its goals.
However, Technology and Science differ not only in their purposes but also in the method of
achieving their purposes. The purpose of Technology is the design and construction of
artifacts and technological systems that will meet human needs.
The purpose of Science is to interpret everything that happens around us regardless of our
will and is related to the natural environment.

Give practical examples of how innovation and technology have contributed to the
economic growth of the country.
One of the major benefits of innovation is its contribution to economic growth.
The Innovation can lead to higher productivity, which means that the same input produces
higher efficiency. As productivity increases, more goods and services are produced - in other
words, the economy grows. Innovation and productivity growth offer benefits to businesses
and employees. When productivity increases, then the employee's income also increases,
and this leads to the conclusion that there will be an increase in the market and the services
that employees will provide so that businesses become even more profitable and can invest
and have the opportunity for more employees.
On the other hand, we have the technology. We live in a period where Information and
Communication Technologies (ICT) are constantly changing the form and content of

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economic and social processes worldwide. The economy and society are becoming "Digital"
as, quite simply, the time that modern man now spends on the use and consumption of
digital media / goods at work and in his personal life has become dominant. All estimates
converge that we are at the beginning of a second wave of technological revolution, which
at its core has ICT. And so many more examples of technology and the medical field,
technology and communication and much more. So, we come to the conclusion that
technology and innovation can be a very important part in the development of the country.

Describe how business organizations use new technologies in their

Operations.
Technology today is evolving rapidly drastically changing our daily lives. This is a fact that
makes it difficult for businesses to adapt to new data. However, the rapid development of
technology is not a reason to avoid its adoption and use by businesses. Businesses operate
much more efficiently when they use technology properly. The digitization of the files
facilitates the customization of documents, user agreements as well as contract templates.
Another important development through technology is that of software programs.
Customer relationship management software records everything from customer
information to market history and preferences patterns. This information is extremely
important for your business as you will be able to tailor your services to the needs of your
clientele. This will result in you having the right prospects to optimize and consolidate your
relationships with your customer base. Other benefits of technology are Automation of
Functions, Business Security, Employee Supervision and advertising. We can cite as an
example Amazon where there is an online store that operates through technology and the
customer can order at home what he needs. This business proves to us that technology
prevails in the age we live in because it makes our lives easier in everything related to our
daily needs.

A brief overview of your chosen company.

The company that caught my interest is an airline called Ryanair.
Ryanair was founded in 1985 by Christopher Ryan, Liam Lonergan and Irish businessman
Tony Ryan, after whom the company takes its name. The real "leader" of Ryanair, however,
was none other than its CEO, Michael O'Leary, who closely followed the philosophy of
American low-cost companies, aiming to launch exactly the same philosophy in Europe. As it
did in 1990, when the company "restarted" as the first low-cost company in Europe,
according to its website. O’Leary's business model replaces the loss of revenue from cheap
in-flight shopping tickets, gambling, airport discount negotiations for reduced landing fees.
When the European Union liberated the airline industry in 1992, allowing European
companies to significantly increase their scheduled flights across Europe, Ryanair seized the
opportunity and, along with its new "ally", the Internet, began to dominate ethers. In 2020
the company consists of 9725 cabin, crew 5584 pilots, 859 administrative/IT Labs, 395
maintenance and 150 of management. It consists of 9 non-executive directors and one
executive director. Her net worth amounts to (12.36 billion) total assets and (4.469) total
equity. Ryanair is based in Dublin Airport and Stansted in London.

Describe the new technologies and how they are being used by your chosen company.

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 As we mentioned in the previous paragraph in 1985 where Ryanair was founded, the
technology that exists today did not exist. As all companies want to take advantage of
technology so Ryanair did the same. Over the years created real-time tracking which means
the system will be primarily based on Flight Aware’s software, which is used by many in the
aviation industry to track aircraft. Also mention that he created an application where the
customer has accessed to review the flights to track the hours, dates and price and to make
online reservations check in payments and to have the ability to change his flight at any
time.

Compare the sales and profits of the company before and, after the
new technologies were introduced
If we take a look back in time and according to sources from Ryanair we can see that in a
search from 2005 to 2020 we see this rapid evolution and increase in profits. According to
the company's charts, it starts in 2005 with a net annual income of 2,530 Billion and
reaching 2020 the company's revenues amount to 9,444 billion. All these 15 years we see a
rapid development in the net income of the company where technology certainly
contributes but also due to the financial crisis many people have turned to cheap tickets.

Comment on your findings.

I chose this company because it is a well-known company and I have sometimes flown
with a specific airline.
I can say that in a research I did I could, and I found a lot of information where there is a lot
of information about the whole course that this airline has gone through. I realized that
there are too many employees and that when it started it was just an idea and little by little
became a big company that travels to many countries.
Also, the clientele is of a certain order and due to the financial use, more and more people
start and suggest cheap air flights offered by the specific company. Technology is also a very
basic weapon for the rapid development of the company.

Corporate Governance
Corporate governance is the composition of rules, practices and actions by which a firm is
ruled and directed. Corporate governance involves taking into consideration and balancing
the interests of every associate in a company, which could be the suppliers, the customers,
the executive management, and many more people, even the government and the
community. Furthermore, corporate governance contributes to accomplishing the
company’s goals and tasks, so it makes sense that it also encompasses almost every aspect
of management, such as processes and even internal controls in order to measure the
corporate performance and acknowledgment.

Corporate social responsibility (CSR)

Corporate social responsibility is a business model that is designed to be self-controlling,
which can help the company to be socially responsible to the company itself, the
stakeholders and the community. Following the model of corporate social responsibility,
usually called corporate citizenship, the company is sensible and aware of the influence it’s
having in the community, including politics, economics and even social matters. A company
practicing CSR can also means that the previous said is functioning in manners to improve

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the community and the environment in order to make a positive change in the society. The
project of corporate responsibility is also a positive way to create a closer bond between the
company and the workers and increase the spirit in the workplace.

Brief history of Corporate Governance in the UK with examples

Corporate governance is a very recent business model, but is now widely used not only in
companies but also universities, local authorities and many other organizations. This change
happened in the 1990s, where the model was first adopted by the City and the Stock
Excange. Later, the Greenbury Report furthered the rules about the payments of executive
directors and in 1998 the Hampel report introduced to the world the first Combined Code.
Later, many big companies reported that the code placed an unreasonable load on the
executives and diminishes the position of the director. After the concerns, the Financial
Reporting Council (FRC) produced an improved version of the code and the general
supported after all. The 2003 code was changed again with some minor alters in 2006 and
has been in practice since November 2006.Some surveys about the corporate governance
support that the model can be beneficial at the end of the day, for the comp anise who are
able to give the time and effort for this model. Some of these companies, that practice
governance in the UK and have seen great profits, is Thornton's, a company that provides
the public with its creations and gives back to the public , through charities, volunteering
projects and also environmentally friendly policies. Another example of good governance
practice is Greggs UK, a massive bakery chain which can be found through the whole UK,
and its CSR policies are admired by many businesses. Greggs has set up its own foundation
charity, where customers and employees of the company collect funds to support local
communities. Furthermore, the company has set an example partnering with prison
programs who provide ex-offenders with job interviews and work experiences.

Demonstrate your understanding of the four areas of CSR as identified by Archie Carroll.
Apply these to your chosen company.
Carroll's CSR Pyramid is a simple framework that helps argue how and why organisations
should meet their social responsibilities. CSR is built on the foundation of profit – profit
must come first. Then comes the need for a business to ensure it complies with all laws &
regulations. This pyramid is based on economic measures, legal, ethical and philanthropic
purposes. Economics is a social science concerned with the production, distribution, and
consumption of goods and services. It studies how individuals, businesses, governments,
and nations make choices about how to allocate resources. Then we have the legal part of a
company that is very important. The legal liability of teleconsultation companies with
different characters with the elements required to be set. Work renewals to work and work
with care. Key users access the application from the currencies and colours that have the
details of the diary for coded ethics. Organize the applications required to produce the
requirements of the requirements with the two colours, required by the different in
different, different and local styles.The next one is the ethical which mean the ethical
responsibility of companies exceeds the regulatory expectations of society laws and
regulations. In addition, society expects organizations to conduct and manage their
businesses in an ethical manner. Ethical responsibility means that organizations embrace
activities, standards and practices that have not necessarily been recorded, but are still
expected. And the last one is the philanthropic which means the philanthropic responsibility
of businesses includes the voluntary or discretionary activities and practices of businesses.

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Philanthropy isn’t a literal responsibility, but nowadays business are expected by society to
take part in such activities. The nature and quantity of these activities are voluntary and are
guided by companies’ desire to take part in social activities that are generally not expected
from organisations in an ethical sense. Businesses developing philanthropic or discretionary
activities give the public the impression that the company wants to give something back to
the community.

REFERENCE LIST

https://el.wikipedia.org/wiki/%CE%9A%CE%B1%CE%B9%CE%BD%CE%BF%CF%84%CE%BF
%CE%BC%CE%AF%CE%B1

https://www.statista.com/statistics/1038876/ryanair-employement-figures-by-type/

https://investor.ryanair.com/directors/

https://simpleflying.com/ryanair-technology-leader/

https://www.macrotrends.net/stocks/charts/RYAAY/ryanair-holdings/revenue

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