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(PDF) Corporate Strategy & Governance

   

Added on  2020-12-30

39 Pages9429 Words275 Views
Corporate strategy andGovernance

ABSTRACTCorporate governance is a multidisciplinary field of the study it covers wide range of disciplines.Employee retention is corporate governance issue for the company due to which companymaking high cost on the new employees. Dissertation applies interpretivism philosophy,descriptive design in order to conduct this research. Furthermore, questionnaire is being preparedin order to analyses employee retention by applying corporate social responsibility within retailsector. Study finds that working flexibility and time period act as the motivation power to makeemployees stick towards the particular brand. In addition to this, development opportunitiesshould also be provided to staff members so that their interest level increase towards particulartask.

Table of Contents1.0 INTRODUCTION.....................................................................................................................11.1Purpose..............................................................................................................................1Aim.........................................................................................................................................1Objectives...............................................................................................................................11.2 Topic area and problem in context to business................................................................21.3 Problem in M&S...............................................................................................................22.0 LITERATURE REVIEW..........................................................................................................23.0 RESARCH QUESTION............................................................................................................3Q. What are the challenges facing company due to employee retention by applying the sociallyresponsible practices?......................................................................................................................34.0 RESEARCH METHODOLOGY...............................................................................................34.1 Research design................................................................................................................34.2 Primary Data.....................................................................................................................44.3 Secondary data..................................................................................................................5REFERENCES................................................................................................................................7SUMMARTIVE OUTLINE............................................................................................................9Introduction............................................................................................................................9Literature review..................................................................................................................10Discussion of primary and secondary research....................................................................15RESEARCH METHODOLOGY...................................................................................................16Primary data..........................................................................................................................16Critical review of results of primary and secondary research..............................................27Recommendations and action plan to propose solution of problem on the basis of research.27CONCLUSION..............................................................................................................................28REFERENCES..............................................................................................................................30APPENDIX 1.................................................................................................................................32Questionnaire........................................................................................................................32APPENDIX 2.................................................................................................................................35Gantt chart............................................................................................................................35

Title “To analyse employee retention by applying corporate social responsibility within retailsector” A Case study based on M&S1.0 INTRODUCTION1.1PurposeCorporate Governance is the mechanisms, processes and relations between company andsociety. The concept of governance is just to gaining momentum because of various factors aswell as the dynamic business environment. The positive outcomes from the corporategovernance is the good behaviour which needs no formal definition and goals. Present study willbe presenting the corporate governance issue of employee retention in the Marks & Spencer.M&S is the big multinational British retail company in UK which deals with various goods andservices into more appropriate manner. Corporate governance is a multidisciplinary field of the study it covers wide range ofdisciplines. Accounting, consulting, economics, ethics, finance, law and management. The mainpurpose of the corporate governance that is to make the deal with that describe the privileges andtask of shareholder and the company. Present study will be presenting the corporate issue ofEmployee Retention and its importance of employee in the development process goals. Marksand Spencer focus on implying to socially responsible practices which helps in gaining employeeinterest at workplace. It promotes occupation health and safety, equality, protection againstexploration, etc. It is beneficial strategy for managing employee retention because it suggestssafety and stable working environment for workers. Aim“To analyse employee retention by applying corporate social responsibility within retail sector”A Case study based on M&SObjectivesTo determine the different determinants of employee retention. To analyse employee retention by applying the social responsible practices. To ascertain the impact of corporate social responsibility on employee retention by 5%within 6 months.1

To identify the challenges facing company due to employee retention by applying thesocially responsible practices.1.2 Topic area and problem in context to businessEmployees are the valuable assets of the company that significantly affect the businessinto positive way, if they satisfied with the environment of the work culture. M&S needs toattract talented employees and fresh talent that describe the productive growth for thedevelopment of the company (Anitha, 2014). Employee turnover is costly for M&S to bear theactivities of the company. The main reason due to which company facing the issue is because offailure in adopting proper corporate governance policies and functions. Due to lack of employeesM&S facing issues in production departments, Selling departments as well. 1.3 Problem in M&SM&S is the multinational Retail company in the UK which deals with clothing segment,electronic segments, home furnishing segment or many more. M&S faces issues of corporategovernance due to which they fail to retain potential clients within the company as long.Thefirm lacks control over socially responsible practices for key stakeholders. The main purpose tomanifest the business problem in order to reduce the issue of employee retention. This problemof M&S reduces the number of potential employees that affect the business final sales outcomes.In order to get over from the challenges this research going to be held. 2.0 LITERATURE REVIEW As per the Deery and Jago, (2015) due to lack of recognition and improper way ofemployee engagement is the become the reason of employing leaving within the companyatmosphere. It has become the challenging situation for the company to keep maintained theproper developing situational goals and objectives. M&S needs to adopt the proper sustainabilityand different motivating tools and techniques to keep employees happy and satisfied. As per the Deery and Jago, (2015) it also seen that, employee retention is corporategovernance issue for the company due to which company making high cost on the newemployees. For that, M&S required to invest in employee development process in order to gainthe long-term process. Besides, the reason behind labour turnover is lack of mutual trust due towhich employees fails to developed the proper outcomes of their performance. It will be takingnew emerging market growth in order to make the company more prominent and successful.2

Every working relationship operates on a balance of mutual trust between each other’s in theeffective management task and long-term process. As per the views of Walliman, (2017),corporate social initiatives assist the firm in managing job satisfaction which can lead toemployee retention. The author discussion bout social welfare and environmentally friendlypractices which helps firm in maintain good reputation of business which is directly related tomotivation and retention of workforce. Employee retention must be developed by given betterworking environment, good compensation benefits, healthy and safe working environment, etc. 3.0 RESARCH QUESTIONQ. What are the different determinants of employee retention?Q. Explain influence on employee retention by applying socially responsible practices? Q. What are the impact of corporate social responsibility on employee retention by 5% within 6months?Q. What are the challenges facing company due to employee retention by applying thesocially responsible practices?4.0 RESEARCH METHODOLOGY 4.1 Research designResearch design is the process or plan that makes the proper outline of the research bytaking one of the methods of research design out of two. There are different meanings of research design. But here in research project researchdesign is been defined as general plan about what has to be done in order to answer the questionsthat is related to various research (Walliman, 2017). There are various elements that areimportant in terms of research design. These elements include research strategies and methodsthat is related to collection of data or analysis. Thus, this design in terms of research has beendivided into two groups named as exploratory and conclusive.Exploratory research- the main aim of exploratory research is to explore specific aspects of thearea related to research. They do not focus on providing final and conclusive answers to researchquestions. The research manager may also change direction of a study to certain extent as perevidences that has been gained during this process. Therefore, present study has been takenexploratory research design where researcher will explore CSR practices which helps firm inmanaging governance over employee retention.3

Conclusive research- this type of research is specific in order to verify insight and aid inselecting a particular course of action.Research Philosophy: Research philosophy is the best method in terms to identify theresearch data into proper manner. Research philosophy deals with the source it will help tocontinue the major research outcomes. There are two types of research philosophy positivismand interpretive philosophy for better conducting services. Positivism method of philosophy isthe complex method to explained the study topic into precise and succinct manner. Contrary,interpretivism involves researchers to interpret elements of study with the help of human interest.Present research will be using interpretivism method where focus of scholar will be on exploringissues that is employee’s retention with M & S with the help of CSR practices and initiatives.(Nei, Snyder and Litwiller, 2015).4.2 Primary DataData collection is the method most essential method in research that helps to collectdifferent method or information into effective manner. There are two types of data collectionmethod primary and secondary method of data collection. Primary method is totally based oncollecting fresh data from collecting questionnaire and interviews. Primary data is quite complexmethod comparatively secondary data. Data analysis: Data analysis is the next process after collecting data goals and long-termprocess in order to meet out the project aims and objectives. Data analysis further divided intotwo methods quantitative and qualitative method of data analysis. Quantitative data collectionmethod based on mathematical or numerical manner. The method of quantitative data analysis ismean, median and mode. On the other sides, quantitative data analysis method is cheaper toapply within the duration time compare to qualitative method of data analysis. Present study willbe using thematic analyses of method that helps to identify the importance of employeeretention. Population: In is survey, Employees of Marks and Spencer has been chosen. This isbecause they can give accurate and exact information that is actually needed in order to analysethe internal situation of the cited organisation. They give complete image of Marks and Spencerinternal factors that is affecting its growth. Therefore, this helps in identifying importance ofemployee retention in a particular company for its growth and development. Present study willbe taking 2o employees as a respondent. 4

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