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Context of Business - Assignment

   

Added on  2020-12-24

9 Pages2652 Words300 Views
CONTEXT OFBUSINESS

Table of ContentsINTRODUCTION...........................................................................................................................31. A brief history and summary of the business and the rationale for choice........................32. According to your research, discuss their vision, leadership style and management practicesand the various strategies making use of various theories you have studied as evidence......43. Analyze how above have been achieved or implemented by this firm giving suitableexamples.................................................................................................................................64. Recommendations as an improvement (the proposed leadership styles, managementpractices and the various strategies that can be undertaken by this firm based on this research)................................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10

INTRODUCTIONLeadership is defined as ability of managers in an organization that influence workers towork together in achieving goals and objectives (Amagoh, 2019). The various functions ofleadership are establishing of clear goals and objectives to subordinates, sharing of vision ofgoals with staff people and workers, giving proper guidance to employees in evaluation of thisvision and providing them different ways and methods which helps to achieve targets. Thevarious kinds of leadership and management styles that are used in the organization arebureaucratic, autocratic, charismatic, transformational, task oriented and laissez-fair leadership.In the following report leadership styles and management practices are analyzed in considerationof a UK based multinational firm naming Mark & Spencer. This is headquartered in London andwas founded by Michael Marks and Thomas Spencer in the year 1884. This company is involvedin selling of clothes, home products and luxury food products. This report consists of briefhistory of company, and summary of business. It also includes leadership and management style,vision of this firm and different strategies that are used by this company to run a successfulbusiness. 1. A brief history and summary of the business and the rationale for choiceMarks & Spencer is a Multinational company of British that deals in luxury food,clothing and home products. It has shops across the world. This company is commonly knownas M&S. The headquarter of company are located in Westminster, London. This firm is apartnership of two people naming Michael Marks and Thomas Spencer. This is a successfulfirm of retail sector founded in 1884. History Marks & Spencer is a successful multinational retail firm that was founded by ThomasSpencer and Michael Marks in the year 1884. In early 20th century this company was associatedin selling of British made goods. In the year 1928, the company sold it’s clothes and foodproducts using brand name “St Michael” . It is running a successful international market sincemany years (Ardichvili, Cardozo and Gasparishvili, 2018). There are different countries in whichit has expanded business including Canada, Afghanistan, Austria, France, etc. Summary of the business

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