This Career Research Report explores the trends and skills required in the UK retail industry, with a focus on Mark and Spencer. It includes a career action plan and personal analysis for overcoming shortcomings. Read more on Desklib.
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Career Research Report
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INTRODUCTION.....................................................................................................................................3 MAIN BODY.............................................................................................................................................3 Career Action Plan................................................................................................................................5 Personal Analysis...................................................................................................................................5 CONCLUSION...............................................................................................................................................7 References..................................................................................................................................................8
INTRODUCTION Business communication is a goal oriented process in which an organization exchange information or data within or outside the firm in order to accomplish the organizational goal in an effective and prompt manner within stipulated period of time (McAlpine and et.al., 2016). However, it is regarded as an integral component for company as it lead them to promote its product or service and can achieve marketing objective as well in an innovative and creative style. For this report, UK retail industry has been considered as it is one of the booming and fast growing sector and in which Mark and Spencer is taken. This firm is incorporated in the year of 1884 and offers wide range of products across the globe. In this study, it involves development of action plan and personal analysis for overcoming the shortcomings in a better way. MAIN BODY Trend influence in retail industry Due to globalization, there is an intense level of competition or rivalry among companies within existing marketplace which directly impact over their productivity and proficiency ratio. In context of Mark and Spencer, it delivers large segments of products like clothing, furniture, hoe ware and many more in a better quality which enable them to acquire best positioning within UK retail industry.However, there are several modification which occurred among UK retail industry in the past decades and M&S’s decision making get impacted that is shown below: Advancement in technology:In today’s industry, innovation and modernization plays a vital role as it totally changed the function or operation of business in a positive manner. With the help of such digitalization, it enable M&S to expand its market share or size in an effectual manner. Moreover, it help Mark and Spencer to acquire novel ideas or technologies within their marketing strategies by designing latest application which made easier to customer in shopping the product through online. Due to which M&S is able to maintain its brand value among UK retail industry in an impressive and productive manner. Additionally, it assist company to strengthen its communication towards customer in order to gain competitive advantage (Hartung and Santilli, 2018). Rapid growth of globalization:This aspect is very familiar term within UK industry as it states that it is a process of integration and interaction between nation, people, and companies in
terms of exchanging ideas, trade without any barriers in order to improve the performance of organization in an improved way. However, it has been signified from the above trends that for maintaining firm’s brand value in industry, M&S should have highly skilled and qualified workforce who can put their best contribution and can come up with novel ideas or tactics in order to enrich organization profit margin ratio. Skills and knowledge required As per the evaluation of market trends or demands, it has been examined that in order to perform productively within company then an individual must contains accurate retail skill which lead them to sustain competitively for longer period of time. Retail skills is nothing but an ability of a personnel to sell the product to customers or vendors in an amended manner for obtaining profit maximization in a better way. Effective communication:This phase is regarded as most crucial element as it contains a potentiality to attract a person or group towards particular brand that benefits company by increasing its productivity rate. In context of Mark and Spencer, a manpower must require best communication skill as it help them to build strong relationship with consumers as well as can make dealings with many vendors which expand the market size of M&S. Knowledge about market:It is relates with containing information about current or upcoming market trend and demand in order to make best strategic decision to increase the volume of M&S sales performance in an improved mode (Al-Husseini, 2014). Decision making skill:As the market trend and customer taste or preference changes, an individual should be capable of implementing appropriate decisions in terms of adopting modification or changes to gain competitive advantage. Career Action Plan In this component, I mention my goal and objective as well as my abilities to accomplish M&S targeted sales in an appropriate time. It is shown in the range of 1-5 InterestSkillsStrengthNeeds Iam interestedto Impressive communication Iamgoodin communication Communication
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employin sales department as aSales Managerof M&S,asI believesthat thissector helpsmeto enhancemy potentiality in a better way. skill Customer relation Decision making Managing business complexities as I can attract more customer towardsbrand and make them retainfor longerperiod of time. I am also best incustomer relationwhich I can prove by maintaining brandname amonglarge numberof populationin anamended way(Hartung andVess, 2016). skill : 4 Customer relation: 5 Decision making: 3 Managing business complexities: 3 Personal Analysis As per the above action plan, I came across with various areas of improvement which I can attain by making use of available resources in an effective and competent manner. My personal analysis as Sales Manager of Mark and Spencer are given as below: SkillNeeds for improvementActions for improving Decision making skillInordertoacquirebest positionwithinindustry, decisionmakingskillis regardedasanimportant ability. As per my evaluation, To improve the same, I attend severalseminarsand workshopsaswellastake initiativetoperform practicallybyevaluating
I analyzed I am not effective tomakestrategicdecisions whichhinderstomaintain M&Sbrandvalueamong marketplace. marketing trend and on the basistakecorrectiveaction whichhelpmetoM&S overall performance. Managingbusiness complexities It is one of the crucial role which a Sales Manager must require and I am lacking in the same. As it empower an individualtoidentify alternatives to cope with all sort of challenges or rivalries within industry. To tackle over this weakness, I will make use of all training and development programs so thatIcanutilizeproper marketingtoolsforgaining competitive advantage in an improved way. Communication skillAs I am good in this but still thereisascopeof improvement because it most essentialelementforSales Managerincoordinatingor interacting business activities to customers and employees as well. To enhance this, I will utilize conferencesorvarioussoft skill session which help me to presentmarketingideasto populationinaclearer manner. Customer relationIn this also I believe there is yet to improve more as it help SalesManagertomaintain long lasting relationship with population in an impressive manner (Przytuła, 2015 Pyo, 2014). I will attend workshops, and takeparticipatein managementgameswhich help me to handle different attitudes of consumers in an easymannerandIcan enhancetheM&Sbrand value within marketplace.
CONCLUSION To recapitulate the above discussed report, I signified that business communication contains a significant role as it enable an organization to attain its desired goal in a prescribed time period in an amended way. Moreover, highly skilled and talented workforce can put their best effort for an accomplishment of targeted sales margin in an innovative and creative style. Hence, with a usage of action plan it help me to identify own strength and weakness as well as enable them to determine several methods for improving their shortcomings in a better manner. With the help of personal analysis, it assist me to strengthen my motivation level as well as aid me to cope up with all challenges in a better mode which reflects in company’s growth.
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References Books and journals McAlpine, L and et.al., 2016. Becoming a PI: agency, persistence and some luck!.International Journal for Researcher Development.7(2). pp.106-122. Al-Husseini, M., 2014. Research as a student: is it worth a try? An insightful experience from a Middle Eastern student.International Journal of Medical Students.2(2). pp.71-73. Przytuła, S., 2015. Migrants, assigned expatriates (AE) and self-initiated expatriates (SIE)- dfferentiationoftermsandliterature-basedresearchreview.JournalofIntercultural Management.7(2). pp.89-111. Pyo, S. H., 2014. A study on measuring the benefits of public libraries.Journal of the Korean Society for Library and Information Science.48(2). pp.307-329. Hartung, P. J. and Vess, L., 2016. Critical moments in career construction counseling.Journal of Vocational Behavior.97. pp.31-39. Hartung,P.J.andSantilli,S.,2018.MyCareerStory:Descriptionandinitialvalidity evidence.Journal of Career Assessment.26(2). pp.308-321.