Effective Decision Making and Stakeholder Analysis: M&S Case

This report analyzes effective decision-making within a business context, using Marks & Spencer as a case study. It discusses various business issues where decisions are made, analyzing stakeholder needs and expectations in each case. The report examines data and information relevant to these business issues, evaluates procedures for collecting crucial information, and identifies strengths and weaknesses in the organization's approach. It also explains decisions taken based on collected information, provides valid reasons for disseminating these decisions, and suggests improvements to the decision-making process with relevant participation. Furthermore, the report explores how new approaches can be planned, communicated, and overseen for decision-making, and it defines measures to assess the effectiveness of the decision-making process. The analysis includes different decision-making styles such as participatory, consensus-based, autocratic and democratic approaches, and their suitability for Marks & Spencer.

EFFECTIVE
DECISION MAKING

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Discuss various business issues where decisions are made and analyse needs and expectations
of stakeholder in each case..........................................................................................................3
Analyse and examine data and information on the basis of business issues where decisions are
needed.........................................................................................................................................5
Task 2...............................................................................................................................................5
Examine procedures for collecting important and useful information on business problems for
given organisations and identify where strength or weaknesses in approach exists...................5
Explain decisions taken based on information collected and provide valid reasons how
decisions can be disseminated.....................................................................................................6
Give suggestions for improving decision - making process and give relevant participation in
the process...................................................................................................................................7
TASK 3 :..........................................................................................................................................7
How can new approaches be planned, communicated and be overseen for decision making....7
Discuss and define measures that allow the effectiveness in decision making process..............8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
The report prepared highlights how can a company's decision making is useful and
effective. It helps to analyses business related problems and issues and how can company tackle
expectations and needs of stakeholder in several unexpected cases. It also helps company to
understand the usefulness of different style of decision making and how it contributes to growth
and expansion of company's business on a larger scale. It also helps to understand strengths and
weaknesses related to company which would help to serve as a competitive advantage over
others (Boardman and McCormick 2019).
TASK 1
Discuss various business issues where decisions are made and analyse needs and
expectations of stakeholder in each case.
Business issues are related to obstacles which come in between of organisation's growth,
success and expansion. Business issues can occur at any point of time and at any level which are
important to be addressed before it gets too late. Such issues if sorted with proper planning,
organising and implementation can help business to reach heights. Issues related to business can
be explained such as Producing innovative products and providing innovative services,
managing uncertainty, upgrading technology, sorting complexity, following government rules
and regulations.
1. Innovation : Innovation these days is in demand whether it be investing time,
effort, money for trying any new product or service or changing trends. Marks
and Spencer has been among those company's who have focused on expanding its
market with the help of innovation. It resulted fruitful for the company to start its
own plant based food and organic range for those who prioritize on healthy
habits. Thus served as strong competitive advantage in market against other
competitor's.
2. Globalization : Marks and Spencer reached its peak point in domestic market and
thus it had to expand its market on international grounds for growth and
expansion of business. Business operations can be carried out by investing in
foreign areas, departments and increasing market flow in economy. It has thus
improved its supply chain by spreading the operations and outlets to a wider area

and on a larger scale as compared to other companies (Wang, Peng and Wang
2018).
3. Advance technology : Marks and Spencer is no new name for the market and is a
well recognised brand all around. It has improved it's working with the help of
technology advancement with an urge to reduce cost and improve quality of the
existing products offered in market. It has also improved its sampling process and
prices of products has also been diversified for different customers.
Needs and expectations of stakeholders : Stakeholders are the people who help to
provide ideas and assistance for better functioning of business in long run. In case of Marks and
Spencer there are users, owners, government organisations, investors which affect the smooth
running of business in market which must be evaluated.
1. Profitable : Stakeholders are more concerned about profit earned by company in a
certain time frame and at a specified point of time. Marks and Spencer focuses more on
earning and generating profit which attracts more customer in organisation which helps
the business to maintain sustainability in environment.
2. Work according to the rules and regulations of respective country : It is important for
every business to carry out useful work and operations according to the set rules,
regulations and abided laws in respective countries. Marks and Spencer thus has
expanded its work across the globe which it has to carry out carefully under the rules and
regulations of each country (Fisher and et.al., 2018).
3. Improvement in building relations : Marks and Spencer has put relations at priority
which explains the importance of building and maintaining relations. Engagement with
potential client helps the business to choose the best path suitable for contributing in
business cycle.
Analyse and examine data and information on the basis of business issues where decisions are
needed.
1. Non- effective management : Marks and Spencer though covering a good market share
needs effective management to carry out operations well on time. It helps to plan decision
which covers all aspects and areas which would help to cut down cost and improve profit
margin too.

2. Non – reliable data : There has been a pool of irrelevant data which no company can
rely on. In such situations Marks and Spencer must focus on sorting useful and important
data which would help in solving business related problems & issues.
3. Inadequate resources : Marks and Spencer has faced many situations where they have
less of funds and resources available for managing activities at a certain point of time.
Such situations puts them in a complex situation where proper decision making helps
them to move out of non profitable conditions.
Task 2
Examine procedures for collecting important and useful information on business problems for
given organisations and identify where strength or weaknesses in approach exists.
There have been many strengths and weaknesses associated with the working of Marks
and Spencer which explains what actions would contribute how much and in which area of the
company. There has been many strong points which contributes in the operating of company for
long life cycle of the business.
Strengths :
1. Diversified products : There are many products provided by Marks and Spencer
in every area whether it is in case of clothes, organic products, footwear. It has
also focused on innovation and creating something different from what is present
& offered in market.
2. Well known brand : Marks and Spencer is a well known brand name across the
world which can attract customers just by specifying its name. It also has created
strong brand image for facing competition in market over years (Heggdalsvik and
et.al., 2018).
Weaknesses :
1. Decrease in sales percentage : A fall in sale is being observed in case of Marks and
Spencer company the reason being pandemic and not able to adapt taste and preferences
of customers.
2. Not capable of increasing foreign markets : Marks and Spencer is not able to increase
its market in some foreign markets and resulted to decline in market share and sales as

well. For a comeback in market and economy it must consider expectations and needs of
customers.
Explain decisions taken based on information collected and provide valid reasons how decisions
can be disseminated.
1. Reaching untapped areas : From the above collected data Marks and Spencer
must look after areas which are left unexplored and are yet to be covered by the
company. This would help the company to grow rapidly and search new areas for
expansion.
2. Cost reduction : Marks and Spencer helps in cutting down costs which affect
working of company in long run. Cost is one the main factor which affects life
cycle of company. Smart steps must be taken for better functioning and
monitoring of operation related work and activities (Gao and et.al., 2019).
How decisions can be disseminated :
1. Use of social media to reach customer's at large scale : Social media is considered one
of the best approaches to reach customer's on a large scale in minimum time frame. It
helps to increase awareness among people for Marks and Spencer company which would
help more consumer to get engaged.
2. Serves customer's according to their taste and preferences : It is by default assumed
that Marks and Spencer doesn't serve every age group thus it is just a rumour which is
needed to be clarified. It would help company to attract more demand and improve
supply chain as well (Liu, Wang and Pedrycz 2020).
Give suggestions for improving decision - making process and give relevant participation in the
process.
1. Get ideas and suggestions from loyal customers : It will be very useful if Marks and
Spencer accepts ideas and feedbacks from potential customer's who contribute in
generating demand and increasing sales & profits.
2. Management of risks : Risks are of rigid nature which are impossible to manage but
necessary to be looked after and for such unpredictable situations plans could be
formulated in advance.
3. Plan for future keeping present situations in mind : Marks and Spencer must work
and plan effectively for present situations as well as for future perspectives too. It must

always be futuristic in nature which would help company to search for new and
diversified approaches that can be implemented for better results (Wang and 2020).
TASK 3 :
How can new approaches be planned, communicated and be overseen for decision making.
There are many decision related approaches used and applied in a business which helps the
business to work, grow and expand business operations. Decision making can be done with the
help of :
1. Participatory : As the name suggests it is a decision making style which includes
participation of people in Marks and Spencer. It depends on people for decision making
and involves a higher rate of risk involved. More participation of people reduces risk and
helps to provide essential data which would be helpful to avoid errors and minimize risk.
2. Consensus based decision making : It is a approach which describes conditions where
there is no emergency nearby and companies have lot of time available in the lot for
decision making. This style is beneficial for taking tough decisions which would be
helpful in bringing everyone together and recognize their perspectives as well. Marks and
Spencer can make best use of it when it has adequate time available (Chai, Xian and
2021).
3. Autocratic style : This style is helpful for companies which take small decisions
resulting in small impact but its impact increases as soon as urgency comes in frame. It is
helpful in companies where every activity and areas are monitored and proper control is
facilitated. It is useful for having proper control over operations and activities.
4. Democratic style : It is helpful for firms which are of neutral nature neither too large nor
too small in decision making and no necessity of making decisions in a hurry. This a
decision making style which gives priority to everyone's suggestions, ideas and promotes
every person's participation in organisation. It is helpful for making employee feel valued
and motivate them in organisation.
Discuss and define measures that allow the effectiveness in decision making process.
The decision making style chosen by Marks and Spencer is Participative style which
involves larger decisions and high level urgency. It expects to make a decision before time as its
impact results to be bigger than imagined. It involves more risk in such decision making process

and as far it can be seen that Marks and Spencer is already in riskier situations. It can be
suggested that it can use Consensus Based Decision Making for better decision formulation and
company would be having ample of time available with it. It would also help to involve people
from different departments and take suggestions from employees in the company as well as
from consumers too. It will help the company to understand where it is lacking and where it has
to improve its working. It can also help them to understand the difference between participatory
and Consensus based decision making and choose which is more beneficial for company.

CONCLUSION
The report prepared above gives an idea about usefulness, necessity of decision making
and how everyone from economy, environment and market contribute in its growth. It also helps
to understand how other business style would be beneficial for company and how it will
contribute to give it a hike in business growth and sales. It also helps to engage potential
customers with the help of strategies such as social media, innovation etc.

REFERENCES
Books and Journals
Boardman, R. and McCormick, H., 2019. The impact of product presentation on decision-
making and purchasing. Qualitative Market Research: An International Journal.
Wang, L., Peng, J.J. and Wang, J.Q., 2018. A multi-criteria decision-making framework for risk
ranking of energy performance contracting project under picture fuzzy environment. Journal of
cleaner production. 191. pp.105-118.
Fisher and et.al., 2018. Identifying and addressing barriers to treatment decision‐making in
bipolar II disorder: clinicians’ perspective. Australian Psychologist. 53(1). pp.40-51.
Heggdalsvik and et.al., 2018. Decision‐making in child welfare services: Professional discretion
versus standardized templates. Child & Family Social Work. 23(3). pp.522-529.
Gao and et.al., 2019. Expected consistency-based emergency decision making with incomplete
probabilistic linguistic preference relations. Knowledge-Based Systems. 176. pp.15-28.
Liu, P., Wang, P. and Pedrycz, W., 2020. Consistency-and consensus-based group decision-
making method with incomplete probabilistic linguistic preference relations. IEEE Transactions
on Fuzzy Systems. 29(9). pp.2565-2579.
Wang, L. and Li, N., 2020. Pythagorean fuzzy interaction power Bonferroni mean aggregation
operators in multiple attribute decision making. International Journal of Intelligent
Systems. 35(1). pp.150-183.
Chai, J., Xian, S. and Lu, S., 2021. Z‐uncertain probabilistic linguistic variables and its
application in emergency decision making for treatment of COVID‐19 patients. International
Journal of Intelligent Systems. 36(1). pp.362-402.