Managing & Developing Innovation & Creativity at Marks & Spencer
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This report discusses the issues faced by Marks & Spencer in terms of human resource management and how innovation and creativity can be used to solve them. It covers the Innovation Matrix, Scamper Technique, and Innovation Audit Methodology. The report also provides recommendations for the retail firm to solve its issues and problems.
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Table of Contents Chapter 1: Company Overview.......................................................................................................3 Chapter 2: Issues/ problems.............................................................................................................3 Chapter 3: Resources of data, models and theoretical concepts used..............................................3 Chapter 4: Research Methodology...................................................................................................4 The Innovation Matrix............................................................................................................4 The Scamper Technique.........................................................................................................4 The Design thinking Model....................................................................................................4 Planning and Implementation.................................................................................................5 Chapter 5: Innovation Audit Methodology......................................................................................6 Recommendations............................................................................................................................6 Conclusion.......................................................................................................................................6 References........................................................................................................................................7
Chapter 1: Company Overview The company Marks & Spencer operates as a major British multinational retailer which is being headquartered in London, England. The respective company was incorporated in 1884 by its founders Michael Marks and Thomas Spencer also is headquartered in London, England, UK AkbarandAhsan,2020).Themanagersattheretailfirmimplementseveralstrategic managementtechniquesthathelpinestablishingcoordinationbetweenthefirm’smain functional areas i.e., human resources, marketing, finance and operations. This guides the critical path for the business firm to attain desired goals and objectives with effective use of resources and completion of tasks within the specified time period(Cornelius du Preez and Folinas, 2019). Chapter 2: Issues/ problems The issues or problems are integral elements of the business environment that are faced by firms which also leads to their development. In the relative context of operational working at Mark & Spencer major issues are faced by the retail firm in terms ofhuman resource management. The issue is with regards to an increase inemployee turnover and employee absenteeism. Such issues faced by the firm lead to a huge impact on the firm’s productivity and competitive position of the company in the relative marketplace. The issue hinders appropriate growth of the company and determines ineffective techniques on the basis of which sustaining ineffective brand value of the company could be difficult for the retail firm(Fayoumi and Williams, 2021). Chapter 3: Resources of data, models and theoretical concepts used The concept of innovation refers to the practical implementation of ideas and relative concepts that results in the introduction of a new service or a product or bringing in improvement in existing products or services of the company. This helps the business firm to operate effectively in its business market and define critical pathways from which desirable goals and objectives of the firm could be attained. For the relative context, managers of the chosen retail firm i.e., Mark and Spencer define critical standards on the basis of which various issues or problems in the relative business environment can be solved. In addition to this, the competitive position of the business firm can also be ensured by the firm in the relative business market (Lapp and Long, 2022).
Chapter 4: Research Methodology The Innovation Matrix The concept of innovation matrix refers to a visualisation that illustrates several aspects of the innovation. The managers at M&S can make use of this matrix that defines critical standards to solve various issues and problems faced by the retail firm. The key elements of the matrix include; Breakthrough innovation, Disruptive innovation, Sustaining innovation and Basic innovation. Breakthrough innovation: The provided element of the innovation constitutes bringing in any revolutionary changes in the business market. For the provided context of operational working at M&S managers of the retail business considers this type of innovation to set standards for innovation as a revolution as it creates a paradigm shift. Sustaining innovation: Under this provided element of the innovation matrix developing better standards for improving goals and enhancing the existing possibilities can be taken into consideration. For the given context, the management activities of M&S are being polished through such elements of innovation. This helps the retail firm to guide coordinated operations while regulating operations in a given marketplace(Law, 2019). Basicresearch:Theprovidedtypeof innovationelementisbeingused inlarge companies.Themanagersattherespectivecompanyi.e.,M&Susethistypeof innovation element through which core discovery with regards to conquering the business market can be enabled. Disruption innovation: The provided element of the innovation focuses on shaping workplace activities in accordance with the demands of customers. The stated innovation helps in carrying out activities of the firm through determining effective research in the business market and allows the corporate to function effectively in a competitive business market(Leathrum, Shen and González, 2021). The Scamper Technique The approach of the SCAMPER technique is functional under creative thinking and problem-solving for developing a better standard of working in the business firm. The managers at M&S use the respective technique to solve the issue faced by given company towards solving its management issues and relative problems;
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Substitute: Under this element of the technique M&S’s services and products can be replaced with one another. Combine: The combine technique tends to analyse on possibility of merging of two or more ideas for enabling efficient single output for the firm. Adapt: For this stage managers of the retail firm discuss the aims that adjust products or services in the retail firm for ensuring deriving better output for the retail firm. Modify: In the given stage of the element techniques that guide modifications in techniques to solve issues and problems at the workplace can be enabled. Eliminate:Underthissegmentofthemodelbetterinitiativescanbetakeninto consideration that tends to eliminate the unnecessary parts or process that are consuming high resources. Reverse: In this technique, better standards for the operational firm are determined throughwhichpotentialinnovativetechniquesarebeingadoptedforbringingin improvement in the operational structure of the business firm. Put to another use: This stage carries valid actions to those activities or resources that convey a better course of actions under which effective allocation of the resource for the firm can be determined. This includes recycling of waste or proper coordination of working within the workplace departments. Planning and Implementation Planning Followingthediscoveryof anincreasein staffturnoverandabsenteeismthatis negatively impacting the company's overall performance, Marks & Spencer can implement a number of initiatives. The following are a few of these options: Training and development: Training and development is a method of providing training opportunities that can aid in the development of a person's personal and professional attributes. Training needs are discovered through training need assessments, which aid in determining what skills and knowledge are required for employees to function at their best(Newton and et. al., 2021). Rewards and incentives: By rewarding and incentivizing workers for their success, Marks & Spencer ensures that their valued contribution contributes to the achievement of the organization's goals and performance requirements.
Quality of work-life: Marks & Spencer will be able to provide quality of work life by routinely checking performance criteria, which will have a favourable influence on staff performance and productivity. By establishing a pleasant working environment, this will ensure that a positive working environment is provided. Better growth opportunities: There are numerous talents that an individual possesses as a result of the quick expansion in the changing business environment, and such knowledge and skills assist them in accumulating additional professional growth chances that will be beneficial in molding their career(Zhang and et. al., 2019). Implementation In order to reduce employee turnover and absenteeism, a training and development plan has been found that can assist in improving staff performance standards. This training and development plan is outlined below: Need assessment- The firststage increatinga traininganddevelopmentplanis determining the training needs and requirements, which may be done by tracking performance against performance criteria on a regular basis. This will aid in the detection of deviations by comparing actual performance to performance criteria. Creatingalearningenvironment-Creatingalearningenvironmentwillaidall employees in adjusting to change and focusing on improving their abilities, which will increase their performance and interest in working for the company. Staff participation in managerial operationswillbeencouraged,andemployeeturnoverandabsenteeismwillbereduced (Richards and Sang, 2021). Creating an evaluation plan- Creating a development plan and producing a plan layout will aid in the organisationof a successful training program that will improve employeeskillsand knowledge. Choose a training technique- Choosing a suitable training method is one of the most important stages since it will lead to increased employee productivity and lower employee absenteeism and turnover rates. Execute plan- This stage entails putting the training and development plan into action according to Marks & Spencer's strategic plan. The strategic plan will help them reduce employee turnover and improve their skills and performance, resulting in increased productivity and profitability for the company.
Chapter 5: Innovation Audit Methodology The innovation audit methodology guides better terms of working in the business firm through reflecting to innovation practices adopted in the business firm. The managers at provided retail firm i.e., M&S adapt to precise innovation audit methodology that helps the firm to credit productive basis of working in the provided business market. Following are the elements that provides with effective terms when being engaged with innovation audit in the retail firm (Sughra, 2019); ď‚·Ideas generation: In this first stage of the innovation audit methodology generation of idea is treated as the foremost element in which clarifications with regards to suitability of the innovative idea is being ensured. The working managers of the firm ensures proper functioning with regards to proper idea generations. ď‚·Prioritisation: For this element delivering priority components in the innovation audit methodology is being taken into consideration. In this activities are prioritised for their completion at the workplace. ď‚·Implementation: Under this stage implementation of plans and strategic ideas being derived are being taken into consideration. For the purpose being proper standards are established with regards to solving issues in HR management process in the workplace. Recommendations From the discussions carried out in the above report, there are several recommendations that can be provided. This includes identified terms on the basis of proper working of the retail business can be facilitated. The following are the recommendations for the retail firm with regards to solving issues and problems faced by the firm; ď‚·Market and data analysis: Regularly monitoring the market for aspects that might have an influence on employee performance and making decisions can help to reduce the impact on employee turnover, as this strategy helps to reach the required standard and ensures employees that they are appreciated in the organisation. Employee motivation and capacity to fulfil given work tasks and responsibilities will be enhanced by providing them with excellent training and development sessions, which will immediately minimise employee turnover. ď‚·Regular feedback from stakeholders: Encourage workers to share their own ideas as one of the simplest ways to boost employee motivation. This will assist to ensure that
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employees are appreciated by the company, and such techniques will aid in optimal staff retention. Giving frequent feedback and establishing a climate of trust and mutual understanding will aid in maintaining a pleasant working environment and lowering staff turnover. Furthermore, such tactics can aid in the decrease of employee turnover and absenteeism, as well as increase their performance, allowing them to reach their goals. Conclusion From the analysis of the above information presented, it can be concluded that there are several issues and challenges that are faced by the retail business while regulating a variety of operations in the specified marketplace. It can be said that better terms of working in the firm can be enabled through adopting proper management techniques which is inclusive of innovation techniques.
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