Marks & Spencer's Internal and External Environment

This report describes the internal and external environment of Marks & Spencer's company and its impact on the business. It includes factors such as political, economic, social, technological, environmental, and legal factors.

Introduction
Business environment means all the factors internal and external that
affect the business functions including the employees, management,
demand and business regulations , production etc.
This report will describe about Marks & Spencer's company
and the environment where they are operating their business . It is
one of the top retailer company in UK and huge reputation in the
market. They are selling product such as home appliances, clothes,
furniture.
Ways in which business can impact on external
environment
There are some ways which can be used by Marks &
Spencer's to impact on the external environment and it will
also help them to take competitive advantages.
Familiar with government - Marks & Spencer's can create
good relation with the government of countries where they
are operating their business so they can get political support
and also can work toward environment and social issues.
Use of technology - M&S can adopt trending technology
within their workplace, so they can increase their production
and improve their business .Technology has huge impact on
the company and following rends in a market creates
opportunities for company and help them to grow in market.
Analysis factors- It is important for Marks & Spencer's
company's leaders to analyse the external factors properly,
so they can overcome from the problems, and they can take
competitive advocates within the retail market.
REFERENCES
Books and journal
Ebrahimi, A. and Banaeifard, H., 2018. The influence of
internal and external factors on the marketing
strategic planning in SNOWA Corporation. Journal of
Business & Industrial Marketing.
Gaganis, C., Pasiouras, F. and Voulgari, F., 2019. Culture,
business environment and SMEs' profitability:
Evidence from European Countries. Economic
Modelling.78. pp.275-292.
Gavurova, B., Packova, M., Misankova, M. and Smrcka, L.,
2017. Predictive potential and risks of selected
bankruptcy prediction models in the Slovak business
environment. Journal of Business Economics and
Management.18(6). pp.1156-1173.
Seo, Y. W. and Lee, Y. H., 2019. Effects of internal and
external factors on business performance of start-ups
External factors
External factors are factors which arise from the outside of
the business environment like government influence, economic
changes, technological changes etc.
PESTEL Analysis of M&S
Political factors - Marks & Spencer's is operating their business in all
around the world and every country has their own tax structure which
affect the profitably of the company.
Economical- Economic factors such as economic crises within the
country can affect whole country which can led the company to
decease in demand . This situation has huge impact on every
business including Marks & Spencer's.
Social- Trends and lifestyle change with the times and it is important
for the Marks & Spencer's to understand what customers are following
and according to that they should develop their product to add some
value for them.
Technological - Technology has huge influence on the Marks &
Spencer's to helps them to achieve their business goals and objectives.
They take competitive advantages if they focus toward the online
shopping or website development.
Environmental -Marks & Spencer's is responsible toward the
environment, and they are putting their effort toward the environment
by organizing the environment about the global warming and awarding
people about the climate change issue.
Legal- Every country has its own polices and rules which outer
companies have to follow and Marks & Spencer's is responsible toward
it and able to create good relationship with the government's.
Marks & Spencer's internal and external environment
Internal environment
Internal environment such as employees, plans & polices of the company,
human resources, labour management are part of company and it has huge influence
on Business of the Marks & Spencer's. Company can use SWOT analysis to identity
their strength and weakness, so they can improve and take competitive advantages
where they are operating their business.
SWOT Analysis of M&S
Strength- Top leading retailer company within UK market and having good. M&S is
having wide varieties of products so their customers can buy as per their demand.
Employees are well-trained and they get training at their workplace to develop new
silks.
Weakness- Marks & Spencer's A fresh slump in sales of clothing in the late 2019 due
to poor arability of clothes in their stores and an out date supply chain. Bad customer
services due the lack of sufficient customer care workers
Opportunities- Company can gain opportunities in the market by developing their out-
dated products. Improvement in the customer services can help them, to gain loyalty of
the customers and create higher opportunities to.
Threat -New and existing customers within this industry is creating threat for the
company because they are selling their product in fewer prices as compare to the
M&S.