logo

Business Administration in Marks and Spencer - Assignment

11 Pages3166 Words79 Views
   

Added on  2021-01-02

Business Administration in Marks and Spencer - Assignment

   Added on 2021-01-02

ShareRelated Documents
Business Administration
Business Administration in Marks and Spencer - Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Explain the characteristics of different business markets.....................................................31.2 Explain the nature of interactions between business within a market..................................31.3 Explain how an organisation's goal may be shaped by the market in which it operates.......41.4 Describe the legal obligations of a business ........................................................................4TASK 2 ...........................................................................................................................................42.1 Define business innovation...................................................................................................42.2 Explain the uses of models of business innovation...............................................................52.3 Identify sources of support and guidance for business innovation.......................................52.4 Explain the process of product and service development ....................................................52.5 Explain the benefits, risks and implication associated with innovation................................6TASK 3............................................................................................................................................63.1 Explain the importance of financial viability for an organisation.........................................63.2 Explain the consequences of poor financial management....................................................73.3 Explain different financial terminology................................................................................7TASK 4............................................................................................................................................84.1 Explain the use of budget......................................................................................................84.2 Explain how to manage a budget..........................................................................................8TASK 5............................................................................................................................................85.1 Explain the principles of marketing......................................................................................85.2 Explain sales process.............................................................................................................95.3 Explain the features and uses of market research.................................................................95.4 Explain the value of a brand to an organisation....................................................................95.5 Explain the relationship between sales and marketing ........................................................9CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
Business Administration in Marks and Spencer - Assignment_2
INTRODUCTIONBusiness administration is defined as a proper management of all operational activities ofa firm which includes supervision and evaluation of all activities. In addition to this, it is a properadministration of firm that consists the efficient use of resources so that, organisation can easilyachieved its preset goals and objectives. Marks and Spencer organisation is taken an example tocomplete present assignment. In this assignment we discuss about the characteristics of differentbusiness markets with explaining the nature of interaction between organisation and market.Organisational goals,legal obligations, innovation in organisation,uses of various model relatedto firms and many more are discussed in this report.TASK 11.1 Explain the characteristics of different business markets.Business markets- These markets are referred to the various organisation whichmanufactures goods and services in order to provide facility to their customers. Some of thecharacteristics are explained as under:B2B (Business to business)- In this characteristic a business organisation make productsfor selling it to another organisations there are no involvement of customersService market – Service market can be defined as an organisation who provide servicesto their customers directly with charging some money.There are various markets such as consumer market in which an organisation such as M&S sellstheir goods to buyers and other one is industrial market in it goods are sold to another industry.1.2 Explain the nature of interactions between business within a marketThe nature of market in B2B and service market is modified according to the marketneeds and requirement of customers and it is also changed as per the parties demand who areinvolved in it.B2B industry interactions are starts from the employees recruitment when they getemployees they starts building relations with other business organisations in order to expandtheir business therefore, they maintain a long term interactions with other firms (ZHANG,2011).Whereas, service market's nature is modified according to the needs of differentcustomers. As they have many customers so they have to updated as per the needs of various
Business Administration in Marks and Spencer - Assignment_3
clients and it is essential to changing the nature because this market is updated through markettrends.1.3 Explain how an organisation's goal may be shaped by the market in which it operates.Goals of an organisation are moulded by business markets in which they operates for e.g.M&S is engaged in retail industry therefore, their management has to set their targets at thestarting of week and define roles and responsibilities to every department with creating properplans and policies for completing it. After completion of the week the management of M&S haveto review it. In successfully completing the target it is essential for every department to provideproper satisfaction to their customers therefore, company can get competitive advantage inmarketplace.1.4 Describe the legal obligations of a business There are various obligations which are essentially adopted by an organisation. M&S hasa huge brand image so they must adhere to Companies act 2006 which includes two acts in itthey are as following:Equality Act 2010 – M&S is a big company and has a huge market presence in the worldand there are more than 80000 employees who are working in it. Therefore, management ofM&S have to provide equalities to their staff members (Wang, J. 2012).Data protection 1998 – As M&S is a big industry and they have large number ofworkers so, they have to protect their details. So that, their confidential information should not bemisused by their rivals.TASK 2 2.1 Define business innovationBusiness innovation is defined as a generation of new idea for a product. In addition tothis, Business innovation is a process in which an organisation introduce a new product orservice in the market for getting effective outcome. There are various organisation who modifiestheir products according to the requirements of their customers in the market. For attracting theircustomers in order to increase their sales.
Business Administration in Marks and Spencer - Assignment_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Administration Assignment - (Doc)
|10
|2778
|163

Business Administration Contents Introduction 1 TASK 1 1.1 Characteristics of different business markets 1 1.2 Nature of interactions between businesses 1 1.3 Organisations and goals shapers
|9
|2178
|119

PRINCIPLE OF BUSINESS INTRODUCTION
|10
|2949
|338

Assignment on Business Organisation
|10
|3080
|27

Assignment on Principles of Business Sample
|11
|2749
|55

Principles of Business Contents Introduction
|11
|3342
|210