M&S Corporate Social Responsibility

This assignment examines how Mark & Spencer (M&S) utilizes corporate social responsibility (CSR) to achieve business success. It explores the application of theories like legitimacy and stakeholder theory within M&S's operations, emphasizing the importance of effective communication and engagement with stakeholders for achieving desired outcomes in a competitive market.

Management Assignment

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Corporate social responsibility refers to the different business practices so that they can
involve the initiatives that assist in attaining the benefits in the society. Different categories of
social responsibility includes environmental efforts, ethical labour practices and volunteering
(Carroll, 2015). In this assignment Mark & Spencer which is a retailer company and deals in
clothing, footwear. Corporate Social responsibility helps in reporting the climate change, interest
financial and non-financial reporting. Along with the theories applicable on CSR has to be
discussed.
TASK
Sustainability is the important for the person and also assist in reaping the success.
Sustainable business practices helps in the awareness of the environment and the economic
aspects so that they can manage the resources which helps in increasing the practices. The staff
members of Marl & Spencer have to change the way to do the work and make the appropriate
strategy which assist in delivering the competitive edge. The company having the different form
of the social responsibility having the core of the operation. They have to use the proper
guidelines which helps in designing the company sources so that they become sustainable. It
helps in aligning the stated vision so that they can create the Corporate social responsibility
strategy. There responsibilities helps in improving the consumer purchases (Emeana, 2015).
Mark & Spencer have to improve the brand which assist in increasing in selling the products and
services. Along with this M&S having the social responsibility that they have to provide the best
quality of the products so that they can attain the success at the time of high competition in the
international market. They have to maintain the relationship between the consumers and
employees. Along with this they have to maintain the trust and transparency from the consumers
so that they increase the sales and earn maximum profit. They have to make the appropriate
decision which helps in attaining the targets. Mark & Spencer having a strong value and also
having a paternalistic approach to do the proper business. By doing the survey they have to
embedded the corporate social responsibility and sustainability within the company which
includes the issues which are facing by the Mark & Spencer should be fully embedded by using
the appropriate strategy and operations of the company. Along with this they can resolve the
issues by using the global chain supply. It helps in engaging the collaboration of the industry and
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the partnership of the stakeholders which assist in addressing the development goals (Singh,
2016).
There are different theories and models of the Corporate social responsibility. Mark &
Spencer have to use the three domain model of CSR which assist in fulfilling the responsibilities
whether it is economic or legal. Along with this it helps in improving the living condition so that
they can not face any problem in developing countries. Different theories which are used by
M&S of CSR is Legitimacy theory, Stakeholder theory, Social contract theory, Signalling theory
which helps the entity in attaining the targets. Legitimacy theory helps in making the social
contract between the company and society in which they are operating. It assist in meeting the
expectations of the consumer. CSR practices become a key management tool of Mark & Spencer
it helps in growing the complexity to the management of the multinational business. CSR
reporting helps in integrating the activities into the strategic risk management so that the
activities can be maximised (Flammer, 2015). Stakeholder theory helps in contrasting the interest
and also accountable to their shareholders which affect the achievement of the objective of
M&S. Social contract theory assist in maintaining the relationship between the business and the
society. It helps in making the contract so that they can fulfil their obligations and also helps in
providing the satisfaction to their consumers and earn the maximum profit. Signalling theory
succour in providing the incentives to their employees and have to provide the appropriate
information to the capital market so that the members of Mark & Spencer attain the success to
compete in the market for the risk capital. CSR helps in providing the mandatory information
and also required by the laws and regulations so that they can do the better work. It aid in
implementing, monitoring and disclosure of the policies related to environment so that they can
improve the performance as well as productivity (Jonker & Marberg, 2015).
The staff members of M&S have to make the plans so that they can do the proper
commitment which assist in doing the leadership. They have to engage the value chain which is
the important feature of the Plan A of Mark & Spencer. Corporate social responsibility succour
in doing the accountability, intellectual capital and the disclosure of the environment. M&S use
the legitimacy and stakeholder theory which helps the members that they can do the investments.
Company have to capture the opportunity so that they can attain the success in the competitive
market. The employees of the company have to use the legitimacy theory as they are working in
the international market. Along with this they have to do the effective communication which
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assist in obtaining the targets. CSR have to use the appropriate information in making the
products which having the best quality and by that they can reap the leading position. M&S can
also use the stakeholder theory as it is suitable for the multinational corporation who are working
in the overseas market (Dagiliene, 2015). They have to set the targets and have to manage all the
work in order to achieve the desired relationship of the stakeholders. M&S have to use this
approach so that powerful buyers attain the targets. Along with this they have to provide the
motivation to their employees and have to do effective communication so that they can not face
any difficulties in doing the work.
CONCLUSION
From the above carried out analysis it has been inferred that the staff members of Mark &
Spencer have to use the appropriate model or theory which assist in reaping the targets. Along
with this they have to do the effective communication so that they can not face any difficulty and
all the work should be managed.
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REFERENCES
Books and journals
Carroll, A. B. (2015). Corporate social responsibility. Organizational Dynamics. 44. 87-96.
Dagiliene, L. (2015). The research of corporate social responsibility disclosures in annual
reports. Engineering Economics, 21(2).
Emeana, N. (2015). corporate social responsibility.
Flammer, C. (2015). Does corporate social responsibility lead to superior financial performance?
A regression discontinuity approach. Management Science. 61(11). 2549-2568.
Jonker, J & Marberg, A. (2015). Corporate Social Responsibility Quo Vadis?. Business,
Capitalism and Corporate Citizenship: A Collection of Seminal Essays, 85.
Singh, B. J. R. (2016). Corporate social responsibility in India. International Journal of Higher
Education Research & Development. 1(1).
Online
Corporate Social Responsibility. 2017. [Online]. Available through:
<https://www.mearsgroup.co.uk/investors/governance/csr/>. [Accessed on 12th January
2017].
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