3002 Internal and External factors

\
Marks and Spencer is one of the leading companies of
UK that specialized in selling clothing, home products,
and food products. The company was established in
1884 by Michael Marks and Thomas Spencer in Leeds.
M&S currently has 959 stores all across UK of which
615 sell food products; it also offers online food
delivery service through Ocado.
There are several external environments that has direct
impact over business and as explained below as:
Economic condition: It is related to the employment rate,
interest rate, income trends that have direct impact over
profit generation of business.
Technological advancement: It is related to change in
working prospect within which accurate convenience is
provided to the customers while purchasing products and
services.
CONCLUSION
From this report it can be concluded that the above factors
affecting M&S gives the overall working idea, few of them
are in hands of company while few of them is depending on
the market situation. For betterment company, focus equally
on both. And external factor should be accepted as
challenges.
External factors are those having both direct and indirect
impact on working abilities of business and as briefly
explained below as:
Social: It is an aspect that define acceptance of various
offered product and services by the society and for that
business make continuous innovation to advance
profitability.
Technological: It is a basis that is used to make better
level of changes as per concern of innovation and
development. It enhances the working credibility and
time taken by business to improvise working possibility.
Marks and Spencer and its environment
Introduction External Environment
Internal factor represent various prospect that is related
to daily working of the business and it is as explained
below as:
Leadership: It is a quality of an individual through
which other employee get influence to perform better
working in regular period of instance.
Employees: These are the backbone of an organization
and have performed all the required functions. The
presence of skilled and talented employee improvises
working efficiency in productive manner.
REFERENCES
Heaton, S., Linden, G. and Teece, D., 2014. Business
model innovation
Heaton, S., Linden, G. and Teece, D., 2014n and
organizational design: a dynamic capabilities
perspective.
Hopkins, B.R., 2011. The law of tax-exempt
organizations(Vol. 5). John Wiley & Sons.
How the company impact its
context External Environment
Internal Environment Reference