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Context of Busines - PDF

   

Added on  2020-10-23

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CONTEXT OFBUSSINES
Context of Busines - PDF_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK...............................................................................................................................................31.History and summary of Mark and Spencer ..........................................................................32.Their vision, leadership styles and management practices .....................................................43.How the above have been achieved or implemented by Mark and Spencer............................54.Recommendations on improvement ........................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................7
Context of Busines - PDF_2

INTRODUCTIONRetail industry comprises of selling goods and services to consumer through differencemultiple channels in order to earn a profit. They focus on satisfying customer demand throughidentifying the same through supply chain. Organisation undertaken under this report is Markand Spencer which is situated in London UK and is involved in producing goods such as homeproducts, food products and clothes. Under this report different leadership style that have beenadopted by the same have been discussed along with their vision. It also enlighten how theseleadership style have been adopted by the businesses in different departments. Later part of thereport deals with the recommendations that have been made which provide a future scope ofimprovement in the organisations performance (Biryukov and et. al., 2015).TASK1.History and summary of Mark and Spencer Mark and Spencer is been in the market for a long period of time it was established in theyear 1882 by Michael Marks and Tom Spencer. It is best known in retail sector for offeringproduct such as clothing, home ware products and cloths. It employees more then 80,000 peopleacross the globe and it operates in more then 30 countries. It has more then 450 stores across theglobe which is serving tens of millions of customers on weekly basis. The company wasestablished by Michael Marks and Tom Spencer. After fleeing anti Semitic persecution in Polandmark immigrated to England in the year 1882. He began to sell goods on a stall in order to earnmoney for living. As he was not good in English he used a sign on his stalls that contained amessage which was “Don't ask for price everything is a penny”. As the stall got popular and bythe year 1890 he was able to open stalls across five cities across the country. Tom Spencer joinedMarks in the year 1894 and they were able to expand their business into 36 branches across theglobe. After the death of Mark and Spencer the company was taken over by Simon who wasMark son. He destroyed the traditional business techniques and established direct links withmanufacturers (Duarte Alonso and Bressan, 2014). In thee world war 2 company faced major issues because their stores were being damagedby air raids. The business regain its position and was rebuilt by Simon marks and in the year1964 it was handed over to brother in law Israel Sieff. In the consequent year it expanded itbusinesses into north America and Europe. He become chairman in 1972 and was replaced by
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