Context of Business - M&S Assignment
Added on 2021-02-18
9 Pages2650 Words47 Views
Business Development
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Context of Business
Table of ContentsINTRODUCTION...........................................................................................................................3PROJECT 2......................................................................................................................................3History.........................................................................................................................................3Vision , leadership style, management practices and strategies of M&S...................................4Achievement and implementation of leadership styles, management practices and vision ofthe company................................................................................................................................5Recommendations.......................................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONThe present study is about management practices in the context of business which meanstaking those steps that results in smooth running of business. Other than that a detailing is doneon leadership style, that includes autocratic, democratic and Laissez Faire, and the one which isadopted by Marks and Spencer in its organisation along with this a briefing is done on types ofmanagement practices that includes reward effort, participation, commitment to workers andmany more. A depth discussion is done on various theories related to leadership style. There arevarious policies and practices adopted by M&S that will be discussed in the current study(Bhaskar and Harshitha, 2017).PROJECT 2HistoryThe present study is done on Marks and Spencer, a private company and a large retailsector of UK , that was founded by Thomas Spencer and Michael Marks in 1884 .presently theCEO of Marks and Spencer is Steve Rowe since 2016. M&S, which has its headquarters in UKand London. It has initiated its business with selling Kellogg's Corn flakes. Apart from that it has979 stores across UK . It mainly sold food and cloth with the brand called St. Michael. It hasopened its first Asian Store in Afghanistan and Kabul. Apart from that M&S is listed in LondonStock exchange and Financial Times Stock Exchange. Along with this it has introduced itscampaign of label marketing in 2006 , the objective of which is to highlight environmentalfriendly aspect of the business. M&S is also engaged in conducting ethical activities likesustainable fishing, using textile dies which are not harmful for humans,using fair trade practicesetc.(Bhaskar and Harshitha, 2017).Apart from that it has taken various initiative like improvingstandard of living of the people in its supply chain , help in improving lifestyle of employees andcustomers, management of carbon dioxide etc. Talking about its financial position its net profithas been fluctuating , from 1996 to 1998 profit has been increased from 652 £ M to 815.9 £ Mgradually it has been declined in 1999 to 372 £Million till 2001 (2.8 £ M).This Study is done onmarks and Spencer as it is a leading retail sector Of UK to identify management practices usedin its organisation ,but its productivity has been gradually decreased , so to study its leadership
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