Corporate Strategy and Governance

This study focuses on the concept of corporate governance and its role within an organization, with a case study on Marks & Spencer. It explores the impact of inappropriate corporate governance on stakeholder satisfaction and provides recommendations for strategies to keep stakeholders satisfied.

Corporate Strategy and
Governance
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CONTENTS
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
Background of study....................................................................................................................3
Review of issue faced..................................................................................................................3
Aim:.............................................................................................................................................3
Research Objective:.....................................................................................................................4
Research Questions......................................................................................................................4
LITERATURE REVIEW................................................................................................................4
The concept of Corporate governance and its role within an organisation.................................4
The issue of corporate governance faced by the Marks & Spence..............................................6
The relationship between inappropriate corporate governance and increasing dissatisfaction
among stakeholder toward Marks & Spencer practices..............................................................7
Strategies by Marks & Spencer under corporate governance for keeping stakeholders satisfied.
.....................................................................................................................................................8
RESEARCH METHODOLOGY....................................................................................................8
DATA ANALYSIS AND DISCUSSION.....................................................................................12
Discussion of primary investigation..........................................................................................13
Discussion on the basis of secondary data.................................................................................17
RECOMMENDATION AND ACTION PLAN............................................................................17
Recommendation.......................................................................................................................17
Action Plan................................................................................................................................18
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22
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INTRODUCTION
Background of study
The corporate governance is defined as the set of rules, processes and systems through
which an organisation is controlled and directed. The main focus of corporate governance is to
balance the interest of company with that of many stakeholders such as customer, supplier,
shareholder, senior executive, financer and government (Puranam and Vanneste, 2016). The
corporate governance help in forming a structure within the organisation where its objective are
connected with the ethics and laws in order to bring accountability and transparency within the
operations of an organisation. In order to further investigation about the role and importance of
Corporate governance this study is conducted by focusing over a multinational organisation
named as Marks & Spencer. It is a leading British retailer that offering high quality, greater value
in its food, clothing and houseware to millions of customers throughout the world by maintaining
its own chain of stores or through online medium.
Review of issue faced
The current report is based on a corporate governance issues which is faced by Marks and
spencer which in bring a huge impact over the business and dissatisfaction among its
stakeholders. As there is a tough competition among the several player that are operating at
international level and affecting the performance of Marks & Spencer such Asda, Tesco etc. In
order to deal with the competition and recovering the sales growth, the CEO of Marks and
Spencer presented their product or services at a huge discount within marketplace with an aim to
distort the competition and attract more and more consumers to purchase their product (Jacoby,
2018). But this in turn has bring another impact where the heavy discount over product result
into sale but the revenue of the company drop down as it doesn’t able to create any profit. Other
than this it also squeeze out the actual spending power of the consumer that further affected the
sale of after discount as people now likely to expect for this kind of discount sale and they don’t
want to pay off high chargers. As a result of which a huge drop is found within the profit margin
of the company .
Aim:
To investigate about the impact of inappropriate corporate governance over the
satisfaction of stakeholder with organisational affairs. A study on Marks & Spencer.
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Research Objective:
 To explore about the concept of Corporate governance and its role within an organisation
 To determines the issue of corporate governance faced by the Marks & Spence.
 To identify the relationship between inappropriate corporate governance and increasing
dissatisfaction among stakeholder toward Marks & Spencer practices.
 Recommend strategies to be adopted by Marks & Spencer under corporate governance
for keeping stakeholders satisfied.
Research Questions
 What is the concept of Corporate governance and its role within an organisation?
 What issue related with the corporate governance does Marks & Spencer faced?
 Explain about the relation between inappropriate management of corporate governance
and increasing dissatisfaction among the stakeholder of Marks & Spencer?
 What strategies to be adopted by Marks & Spencer under corporate governance for
keeping stakeholders satisfied?
LITERATURE REVIEW
The concept of Corporate governance and its role within an organisation
According to the view point of Chen. J., 2020, corporate governance is defined as the
system of rules, processes and practice which is adopted by an organisation in order to direct and
control the business effectively. This corporate governance involve the process of balancing the
interest of stakeholders of an organisation. The corporate governance help in forming up a
framework that help an organisation in attaining its set objectives, this framework encompasses
every sphere of management which is from internal control and action plan to performance
measurement as well as corporate disclosure.
The term governance refers to set of rules, policies, control and resolution which is being
put in place for directing a particular corporate behaviour. Hence, when it combined with term
corporate then it means a structure adopted within a corporate in order to guide, monitor and
control the functions of the company in right manner. The corporate governance is crucial to
investors as it present the company’s direction as well as business integrity. Good corporate
governance support organisations in building up the trust among the community as well as fro
the investors which in turn promotes the financial viability by generating eth long term
investment opportunity for market participants.
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The board of directors are considering to be the primary stakeholders who have the
capability to influence the corporate governance. The directors are elected by the shareholders or
get appointed by the other board members who then represent the shareholder of company. This
board task with formulating important decision like executive compensation, corporate office
appointment, dividend policy etc. The board of directors are responsible for ensuring that the
corporate governance policies of an organisation must get incorporated with the risk
management, corporate strategy, transparency, accountability and ethical business practices.
On the other side according to Rouse. M., corporate governance is integration of various
rules, processes or laws with which the business mainly control, operate and regulate its
activities. The corporate governance consist of both internal and external factors which directly
influence the interest of stakeholder that includes government, suppliers, customer, shareholder
and management. It mainly provide with a pattern in which corporate and activities performed
within it is being operates and control by the management. The corporate governance is mainly
handle by the board of directors as well as concerned committee that actually focuses toward the
balancing the individual such as economical, societal and environmental goals so that an
organisation would be able to survive within marketplace. The corporate governance plays
significant role within an organisation that can be understood with the help of following
discussion:
 Accountability: - The corporate governance support in describing about the roles and
responsibilities to the employees as per their job roles which in turn support in keeping
the people accountable for the actions which they perform. This further contribute
toward improving the flow of business operations in right and ethical manner. This
accountability further support companies to make an adequate decision regarding who
must get rewarded for performing good work and who must get punishment for
misconduct.
 Lowering risk: - With effectively managing the corporate governance an organisation
would be able to reduce the incidents of criminal liability, scandal and fraud. Tit is so as
it involve the accountability that further support in easily identifying the issues and cause
behind it to take corrective and Tinley actions.
 Public acceptance: -The corporate governance mainly consist of transparency principles
within its work. So, when the stakeholder and general public get access to this
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information then it further support in building up trust and positive image in front of
community.
The issue of corporate governance faced by the Marks & Spence.
As per the view point of Wood. Z., 2020, the share of Marks & Spencer fells sharply after
the Christmas sales were dented by the discount of rivals as well as due to its own buying
mistake after it get stocked up on many men’s skinny jeans and mince pies. A pick up within the
trade in M&S food halls during the holiday period which support the company in deliver its first
positive quarterly sales within last three year, where the products are sold at high discount which
result into increase in sale. But the success of its resurgent food division was overshadowed due
to increase in food waste which in turn eroded profitability. The chief executive of Marks &
Spencer Steve Rowe said that its clothing division has faced a huge competition and challenging
trading environment at the time of Christmas. This make the Marks and Spencer to provide more
discount over its offering in order remain in competition and maintain its sale in marketplace.
This is so because there was a huge discount by the competitors which was continued from the
Black Friday to the Christmas which in turn made December month one of the most challenging
month which in turn also affected the gifting sale of Marks & Spencer.
Other than this the clothing sales within the Marks & Spencer stores get open for more
than one year which experienced a drop of around 1.7% when it makes an attempt for making its
menswear range more fashionable backfired. After the statement customer made that the
menswear lines were too old it revamps by involving number of slim and skinny fit trousers
which it sold which drastically reduced the choice of classic styles that promptly sell out in larger
size. Hence in order to avoid the risk of getting loss from this left over stock at the event of
Christmas it provide an unprecedented discounting in order to get sales from this stock. This in
turn make the customers attracted toward the offering of Marks & Spencer. From the sale it has
been found that the UK consumers were more carefully thinking about purchasing the products
event at the time of Christmas as they are buying very few and opt for high quality items. But the
demand within the stores from the cashmere jumpers of women’s and men’s was goes up by
15% and 40% respectively.
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The relationship between inappropriate corporate governance and increasing dissatisfaction
among stakeholder toward Marks & Spencer practices.
According to the view point of Naciti, V., 2019, the corporate governance plays a
significant role within the functioning of an organisation by maintaining the better execution of
work. The corporate governance is also responsible for managing a balance between the welfare
of all eh stakeholder connected with eth brand. The case of Marks & Spencer related with a drop
in its profitability has bring a huge impact over the organisational performance. The CEO of
Marks and Spencer found guilty about this as he presented a discount over the offerings without
being in notice of the shareholder. This was a big step which affected the financial position of the
company to a great extend which is so because for dealing with the competition and pushing the
old stock the discount placed was so great that it has dropped the profitability of the company.
This is turn affected the share of investors as the overall revenue of the company drop which in
turn directly reduce the return of shareholders.
Therefore, this event has made the shareholder dissatisfaction among the shareholders as
such a big step was taken by the CEO of Marks & Spencer without much consent of the
shareholders. This make them dissatisfied among the shareholders as they found information
about this after it get executed. This was the big step which in turn result into a huge drop in the
revenue of the company that directly affect the return of shareholders.
Other than this, Geoghegan. J., 2020, stated that the operations performed within an
organisation also remain connected with the stakeholder interest where any kind of activity when
get performed under the corporate governance which directly influence the satisfaction of the
stakeholders. Hence, the activities performed within the organisation are performed by
considering the value of the stakeholders. As in the case of Marks & Spencer the unprecedented
discount has affected the stakeholder interest which in turn influence the satisfaction of
stakeholder. This is so because the discount over its offering was made by the CEO without
being in notice of the shareholders which in turn affected their return over the investment which
make them dissatisfied from this conduct. Other than this the customers are also get affected, as
at the time of discount the customers get much more happy with the offering and also get
attracted toward purchasing it. But after the Christmas sale when the products get back to their
original price then the customers get dissatisfied as the price is being assume to be as according
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to them. Hence this case of inappropriate corporate governance has results into dissatisfaction of
the stakeholder of the Marks & Spencer.
Strategies by Marks & Spencer under corporate governance for keeping stakeholders satisfied.
As per the perception of Grennan, J., 2019, the corporate governance plays a significant role
within an organisation by managing its operations in effective manner and governing its
operations so that it get executed in right manner. The corporate must manage a effective
corporate governance system within eth organisation so that any kind of fraud or wrong practices
can be avoided or get into notice of the higher authority so that timely actions can be undertaken.
So, in order to avoid any fraudulent or hidden practices the higher authority of Marks & Spencer
must focuses toward developing an effective corporate governance system in order to keep its
stakeholder satisfied. The following recommendations are provided for this,
Brining transparency: The Marks & Spencer must focuses toward bringing more and more
transparency in its operations so that each and every actions that get performed must remain in
the notice if the shareholders and investor and get performed with their will. This in turn bring
efficiency in operations as decision would be taken with mutual consent and shareholders remain
satisfied with the operational conduct.
Form separate committee: The Marks & Spencer must focuses toward creating a separate
entity for the corporate governance practices with the people who do not have any keen interest
in the organisational profit so that fair decisions can be taken. This committee would be
responsible for regularly evaluating the performance and several operations that get executed
within the organisation. This in turn presenting the true information about the things that are
going on within the corporate and decisions are taken without any kind of interest or bias
behaviour in this which is mainly found when it is about the profit share if an individual.
RESEARCH METHODOLOGY
Research methodology is a crucial part of an investigation which provide assistance to
the researcher in term of performing investigation effectively by making them select best suitable
tools and method to conduct the study. This section of a research focuses toward presenting
information about set of tools, techniques, methods and approaches that are available and among
them which one is adopted by the researcher for performing investigation. The research
methodology section holds importance within a research as it provide a proof to reader ion the
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basis of methods adopted regarding the validity and reliability of study. the current investigation
of Marks & Spencer regarding corporate governance involve both primary as well as secondary
investigation and methods adopted in this are explained below:
Primary Research: -
Primary research is one where information about particular area of investigation is performed
to gather fresh and new data which is not yet been collected as per the presented event, situation
etc. Hence, here the first hand information is collected which is adjusted as per the situation
present. The primary information is gathered using methods or tools like survey, questionnaire,
interview, focused group etc. The primary information is consider to be more reliable and
appropriate as compare to secondary investigation as the data remain free from any kind of
filtration.
 Research method: - For gathering the primary information the investigator will be sued
either qualitative or quantitative type of investigation. Among these two for current study
the quantitative method of investigation will be used which support in presenting
information in more accurate and reliable manner by representing the numerical facts and
figures under the quantitative method. In order to analyse the quantitative data, the
deductive approach will be used which help in analysis the numerical data and present
more accurate data in line with the research aims and objectives.
 Data collection tool: - To gather the primary information, there are number of tools that
re mainly used such as interview, questionnaire, focused group, survey, case study etc.
But as per the requirement of current study the questionnaire will be used that help the
researcher in gathering the larger amount of data by taking view point and understanding
of several people in less possible time period that denote the whole population connected
with eth case. The questionnaire for present study is mentioned below:
QUESTIONNAIRE
Q1 Do you have an understanding regarding the concept of corporate governance and its
importance within an organisation?
a) Yes
b) No
Q2 According to you what role does corporate governances plays in smooth functioning of an
organisation?
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a) Manage corporate performance
b) Combating corruption
c) Enhance enterprise valuation
Q3 What are the major benefit that Marks & Spencer get with appropriate management of
corporate governance in organisation?
a) Reduces corporate crises risk
b) Better access to global market
c) Bring transparency in work
Q4 Do you think that this investor revolt issues Marks & Spencer faced is due to inappropriate
management of corporate governance?
a) Yes
b) No
Q5 According to you what are several challenges that Marks & Spencer face due to this
inappropriate corporate governance?
a) Reduction in profit
b) Low shareholder return
c) Sales get affected
Q6 As per your perception, what action must be taken by Marks & Spencer in order to overcome
the impact of investor revolt issue?
a) Attract customer with new offerings
b) More promotional events
c) Reducing the internal cost
Q7 What strategies must be adopted by the Marks & Spencer for establishing a better corporate
governance structure within the organisation?
a) Form a separate committee
b) Regular evaluation of BOD performance
c) Prioritise risk management
 Sampling technique: - The sampling is a process of choosing the group of people out of
whole population in order to collect the information from behalf of whole population
where people are witnessed of particular situation, event or having information about it.
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For collecting primary information sampling technique is used to select the people that
will provide information about a particular study area, where sampling is done either
using probabilistic or non-probabilistic method. Among these two the probabilistic
method of sampling has been undertaken in this study as it allow the investigator to avoid
the bias behaviour in selecting respondents by providing equal chance of selecting as a
sample size. Hence, for selecting people in sampling group the random approach will be
used under the probabilistic sampling method. The sample size for this study is around
employees of Marks & Spencer.
 Ethical issues: - While performing investigation or gathering the information there are
several ethical issues which an investigator may confront that may affect the activities
under investigation. For avoi8ding theses issues to affect the investigation, the investor
make use of several kind of ethical consideration that are followed throughout the study
in order to avoid nay kind of issues and maintaining the validity and reliability of the
investigation. The ethical principles followed within this study is informed consent where
the respondents are provided with the option to get voluntarily be a part of study by
presenting them with eth main purpose behind conducting study. other then this, principle
of confidentiality is also adopted in study where the respondents are provided with
assurance that their personal information will not be get disclosed oin any manner with
the result of study and will be kept secured and away from access of other people who are
not authorised.
Secondary Research: -
The secondary research involves the summary, collation as well as synthesis of the research
performed previously. Under this the researcher mainly access several sources where data’s
regarding the current area of study is already presented and evaluate them in order to present
information about current study and develop understanding in this regard. It is also known as
second hand data where the view point of several authors and scholars are presented about eth
topic which has been stated and published in some another research to understand the nature of
study. The secondary investigation is consider to less time consuming and more convenient as
compare to primary investigation. It is gathered from several sources such as books, articles,
journals, company record, media etc.
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Research method: - There are mainly two kind of methods for performing an investigation
such as qualitative and quantitative. For performing the secondary investigation the qualitative
method of research has been adopted as it help in collecting and analysing the data in more
effective manner and making it meaningful. Other than this for evaluating the secondary data
inductive approach is taken into consideration which consider a theoretical framework for
evaluating eth information which in turn help in creating a new theory on the basis of existing
one that support in extending the understand and knowledge.
Research strategy: - For conducting the secondary investigation effectively the competent
analysis method has been taken into consideration as it support in explaining the information
after analysis in effective manner. this is so because it arrange the data in more meaningful
manner by setting up theme which provide gist about the area over which further explanation is
made. This help in making the information clearer and explanatory.
DATA ANALYSIS AND DISCUSSION
Data analysis is defined as the process where data is evaluated in order to convert it into
meaningful information to achieve the desired objective of study. For performing analysis under
this study content analysis method is used which set some themes before explaining about tithe
findings in detail that provide a hint to reader about further discussion so better conclusion and
understanding can be made. The Frequency table regarding primary data collection is mentioned
below:
Q1 Do you have an understanding regarding the concept of corporate
governance and its importance within an organisation?
Frequency
a) Yes 45
b) No 5
Q2 According to you what role does corporate governances plays in
smooth functioning of an organisation?
Frequency
a) Manage corporate performance 15
b) Combating corruption 10
c) Enhance enterprise value 25
Q3 What are the major benefit that Marks & Spencer get with
appropriate management of corporate governance in organisation?
Frequency
a) Reduces corporate crises risk 10
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b) Better access to global market 10
c) Bring transparency in work 30
Q4 Do you think that this investor revolt issues Marks & Spencer faced
is due to inappropriate management of corporate governance?
Frequency
a) Yes 48
b) No 2
Q5 According to you what are several challenges that Marks & Spencer
face due to this inappropriate corporate governance?
Frequency
a) Reduction in profit 20
b) Low shareholder return 15
c) Sales get affected 15
Q6 As per your perception, what action must be taken by Marks &
Spencer in order to overcome the impact of investor revolt issue?
Frequency
a) Attract customer with new offerings 25
b) More promotional events 10
c) Reducing the internal cost 15
Q7 What strategies must be adopted by the Marks & Spencer for
establishing a better corporate governance structure within the
organisation?
Frequency
a) Form a separate committee 20
b) Regular evaluation of BOD performance 15
c) Prioritise risk management 15
Discussion of primary investigation
Theme 1: An understanding regarding the concept of corporate governance and its
importance within an organisation
Q1 Do you have an understanding regarding the concept of
corporate governance and its importance within an organisation?
Frequency
a) Yes 45
b) No 5
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Interpretation: From the data presented above it has been analysed that around 45
respondents out of the 50 sample size, said yes they have an understanding about corporate
governance as well as its importance within an organisation. Despite of this another 5
respondents said that they do not have much understanding in this regard.
Theme 2: Role that corporate governances plays in smooth functioning of an organisation
Q2 According to you what role does corporate governances plays in
smooth functioning of an organisation?
Frequency
a) Manage corporate performance 15
b) Combating corruption 10
c) Enhance enterprise value 25
Interpretation: There are several role that corporate governance plays within an
organisation. By investigation it has been found that 15 out of 50 respondents said that it help in
managing corporate performance, 10 said combating with corruption and 25 said that enhance
the enterprise value. From this it has been found that majority of people are in favour of
enhancing value as corporate governance focuses toward managing the business operations with
ethics and bring transparency that help in building trust among stakeholders that create value.
Theme 3: The major benefit that Marks & Spencer get with appropriate management of
corporate governance in organisation
Q3 What are the major benefit that Marks & Spencer get with
appropriate management of corporate governance in organisation?
Frequency
a) Reduces corporate crises risk 10
b) Better access to global market 10
c) Bring transparency in work 30
Interpretation: By performing the investigation about eth benefit of Corporate
Governance to Marks & Spencer it has been found that around 10 out of 50 employees said it
help in reducing the corporate risk, 10 said that it provide better access to global market and 30
said it bring transparency in work. From this it can be said that more favour is toward brining
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transparency, as BOD have a regular check over operations performed which bring transparency
and avoid any kind of mis conduct.
Theme 4: Investor revolt issues Marks & Spencer faced is due to inappropriate management
of corporate governance
Q4 Do you think that this investor revolt issues Marks & Spencer
faced is due to inappropriate management of corporate
governance?
Frequency
a) Yes 48
b) No 2
Interpretation: The Marks & Spencer has faced a sever issues of investor revolt where
their return get affected due to offering huge discount at marketplace. By further investigating
over this it has been found that around 48 respondents said that inappropriate corporate
governance was the major cause behind this issue, else it won’t happen in such a way. While 2
respondents said no as it is a market demand factor.
Theme 5: Several challenges that Marks & Spencer face due to this inappropriate corporate
governance
Q5 According to you what are several challenges that Marks &
Spencer face due to this inappropriate corporate governance?
Frequency
a) Reduction in profit 20
b) Low shareholder return 15
c) Sales get affected 15
Interpretation: Due to inappropriate corporate governance Mark & Spencer faces
several challenges. By investigating about this it has been found that around 20 respondents said
reduction in profit, 15 said low shareholder return and 15 said that sales get affected. From the
overall analysis of data it has bene found that major issue to M&S was reduction in profit as the
discount was so high that it won’t let company to earn extra penny which in turn results into a
huge drop in profit.
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Theme 6: Action must be taken by Marks & Spencer in order to overcome the impact of investor
revolt issue
Q6 As per your perception, what action must be taken by Marks &
Spencer in order to overcome the impact of investor revolt issue?
Frequency
a) Attract customer with new offerings 25
b) More promotional events 10
c) Reducing the internal cost 15
Interpretation: To deal with this investor revolt issues, it has been identified that 25
respondents said that M&S must try to attract customers with new offering, 10 said that arrange
promotional event and 15 said reducing the internal cost. From this it has been analysed that
better option fro Marks & Spencer to regain profit and market share is to formulate new
strategies or selling tactics in order to attract customers toward it, like adding new benefit or
value to their offering.
Theme 7: Strategies must be adopted by the Marks & Spencer for establishing a better corporate
governance structure within the organisation
Q7 What strategies must be adopted by the Marks & Spencer for
establishing a better corporate governance structure within the
organisation?
Frequency
a) Form a separate committee 20
b) Regular evaluation of BOD performance 15
c) Prioritise risk management 15
Interpretation: For maintaining a better Corporate Governance practices Marks &
Spencer it has been suggested by 20 employees that it must from a separate committee, 15 said
that regularly evaluate the performance of BOD while 15 said that it must prioritise risk
management. After analysing the data it has been found that an independent committed
formation will be better option for corporate governance as when it doesn’t lie any interest in
organisation it won’t perform favourable action and hence, more accuracy and reliability cam be
maintained.
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Discussion on the basis of secondary data
By performing the evaluation over the secondary gather data it has bene identified that
the corporate governance is consider to be a main part of an organisation which provide a system
consist of set of rules, principles and policies that direct the behaviour of corporate and also help
in aligning the business operations in right direction (Lone, Ali and Khan, 2016). The
inappropriate corporate governance structure not only affect the business operations but also
influence the brand image in front of the stakeholder and community which in term directly
influence it performance in marketplace. As it happened to the Marks & Spencer where to push
out the stopped sales and dealing with the competition that get arose in the market at the time of
Christmas, the CEO of company has traduced the profit of the company as sales get increased
but the discount was so high that it ruined all its earning in marketplace. This in turn affected the
return of the investors and leads to increasing dissatisfaction among the stakeholder. Other than
this several issues are also get confront by the company such as reduction in profit, affected the
future sale, drop in revenue ration, the shareholder get dissatisfied, Trust get affected of
stakeholder in organisation etc.
So, from this it has been identified that the issue get arises due to lack of accountability,
transparency and inappropriate corporate governance structure. Hence, marks and Spencer must
focuses toward improving the structure of corporate governance such as brining transparency in
operations so that operations get executed in the consent for other shareholders or authorities.
While on the other side the it is also recommended to form a separate committee that maintain an
eye over each actions so that it get performed fairly.
RECOMMENDATION AND ACTION PLAN
Recommendation
From the investigation performed over the corporate governance issue of Marks & Spencer
it has been found that due to this conduct the company has to face number of challenges like the
trade get affected, profitability down even with the sale, the return of investors get affected, after
discount the sale also get affected. These are the challenges which Marks & Spencer faced which
results into dissatisfaction among the stakeholder. So in order to deal with this following
recommendations are provided so that future issues can be avoided,
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 The authority of Marks & Spencer must focuses toward creating a separate committee for
this who can look after the activities performed within the organisation and take actions
where anything wrong get happened. Other than this they can also make surprising
inspection so that without being in notice of culprit the evaluation of wrong thing can be
made.
 The performance of the organisation must be regular evaluated and then presented in
front of the shareholders along with the reason of any change or fluctuations in the
figures so that the transparency can be maintained among them. This in turn help in
creating a trust among the shareholders and also help in keeping true toward the
organisation that call for more investment and support whenever required by the
organisation.
 The marketing team of Marks & Spence must focuses toward attracting its customers by
presenting them with different offers which involve some benefit other than discount so
that customers get attracted and willing to purchase the product.
Action Plan
The action plan refers to group of activities which is performed by a researcher in order to
execute the activities involve within an investigation effectively. For ensuring the appropriate
implementation of corporate governance according to the set policies and practices within the
organisation by the top authority of the Marks & Spencer are mentioned below:
Activities Procedures
Problem identification In order to enhance the operations, first of all
the corporate governance committee of marks
& Spencer must search about the part of
organisation where a issue involve due to
which the profitability of the company get
affected and the sections where the changes are
to be anticipated for improving the future
practices.
Development of aims and objectives Once the area of improvement has been
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identified the next is to formulating aims and
objectives regarding the improvement to be
made which provide a direction about the
actions to be adopted for brining particular
change.
Literature review Once the objectives with changes in
organisation are formulated by the authority
the next step is to perform the secondary
evaluation in order to gathered the information
regarding the issues that are prevailing in
Marks & Spencer. This gathered information is
reviewed thoroughly and patterns get
determined. This help in formulating effective
strategies for dealing and combatting with
issue.
Research Methodologies After evaluating the past information next is to
determine the further methods through which
the new information is gathered for brining the
solution to the issue which Marks & Spencer is
facing. Hence, for gathering eth information it
remain crucial to determine appropriate
methods or approaches through which the
primary information can be effectively
identified. The methods that get selected will
support in representing the guidance regarding
the further actions which is to be taken and
manner in which the required outcome to be
grab.
Collection of suitable data For gathering the appropriate information
regarding the issue of primary information that
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is collected which is based on the secondary
information gathered above. Therefore, to
collect the primary information the
questionnaire will be taken inti consideration
which help in collecting larger amount of data
in less possible time period. Once the data is
collected, it get then process to combat into
more meaningful information which help in
concluding the findings and presenting with the
best possible solution that can be done by the
Marks & Spencer.
Conclusion and recommendation After evaluating all the collected information
and interpreting them appropriately the next
step to be taken by the investigator so that it
can conclude the final outcome as per the final
outcome on the basis of findings. After the
information get concluded the appropriate
recommendation the basis of findings. After
concluding the information the appropriate
recommendations will be presented so that the
issue can be find out through the study which
can be resolved.
Submission of final report At the last stage of work within action plan the
strategies that are formulated above will get
implemented within the organisation
effectively in order to resolve the issues related
with the corporate governance.
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CONCLUSION
From the above mentioned information it can be summarised that the corporate
governance plays a significant role within effective execution of work. This help in keeping a
track over the actions performed in the organisation by governing them with some set of
principles, rules and guidance. By maintain the corporate governance within the organisation
there are number of benefits that it get such as reduction in the corporate cries risk, providing
better access to global market by creating the positive image of company and brining more
transparency within the work.
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REFERENCES
Books & Journals
Grennan, J., 2019. A corporate culture channel: How increased shareholder governance reduces
firm value. Available at SSRN 2345384.
Jacoby, S. M., 2018. The embedded corporation: Corporate governance and employment
relations in Japan and the United States. Princeton University Press.
Lone, E. J., Ali, A. and Khan, I., 2016. Corporate governance and corporate social responsibility
disclosure: evidence from Pakistan. Corporate Governance: The International Journal of
Business in Society.
Lutsenko, S. I., 2018. Corporate governance: inside. Strategic decisions and risk management.
Naciti, V., 2019. Corporate governance and board of directors: The effect of a board composition
on firm sustainability performance. Journal of Cleaner Production. 237. p.117727.
Puranam, P. and Vanneste, B., 2016. Corporate strategy: Tools for analysis and decision-
making. Cambridge University Press.
Scotland, J., 2012. Exploring the philosophical underpinnings of research: Relating ontology and
epistemology to the methodology and methods of the scientific, interpretive, and critical
research paradigms. English language teaching. 5(9). pp.9-16.
Silverman, D. ed., 2016. Qualitative research. Sage.
Taherdoost, H., 2016. Sampling methods in research methodology; how to choose a sampling
technique for research. How to Choose a Sampling Technique for Research (April 10,
2016).
Tuohy, D. and et.al., 2013. An overview of interpretive phenomenology as a research
methodology. Nurse researcher. 20(6).
Walliman, N., 2017. Research methods: The basics. Routledge.
Wiek, A. and Lang, D. J., 2016. Transformational sustainability research methodology.
In Sustainability science (pp. 31-41). Springer, Dordrecht.
Online
Wood. Z., 2020. Marks & Spencer sales hit by too many mince pies and skinny jeans. [Online]
Available through: <https://www.theguardian.com/business/2020/jan/09/marks-
spencer-sales-dented-by-too-many-mince-pies-and-skinny-jeans#mainconten>.
Chen. J., 2020. Corpoarte Governance. [Online] Available through:
<https://www.investopedia.com/terms/c/corporategovernance.asp>.
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