Impact of Innovation and Technology on Business Management: A Study on Marks & Spencer

DISSERTATION

Table of Contents
CHAPTER 1: INTRODUCTION 84795.........................................................................................3
About the topic............................................................................................................................3
About the organisation................................................................................................................3
Research aim and objectives.......................................................................................................3
Research rationale.......................................................................................................................4
Significance of the research........................................................................................................4
Structure of the report.................................................................................................................5
CHAPTER 2: LITERATURE REVIEW ........................................................................................6
What is the concept of business management?...........................................................................6
What are the innovations and advancements in technology?......................................................8
What is the impact of technology on process of managing business?......................................10
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................12
CHAPTER 4: FINDINGS AND ANALYSIS ..............................................................................17
CHAPTER 5: CONCLUSION AND RECOMMEDNATION.....................................................22
Conclusion.................................................................................................................................22
Recommendation.......................................................................................................................23
REFERENCES..............................................................................................................................24

CHAPTER 1: INTRODUCTION 84795
About the topic
Innovation is undertaken as the concept and procedures which an individuals or firm
considers for conceptualising the brand new items, methods and thoughts or to approach existent
goods, methods and ideas into new manners. Additionally, this is often essential for entities for
adopting as well as overcoming the challenges of changes. This also fosters growth. In addition
to this, technology describes as the application of science, information and data for business
intent like attainment of economic as well as organisational objectives (Chang, Chen and Lu,
2019). The key component off technology is the change ideas and how this may impact the
business. This is the concept which explains that aids an entity perform their business as well as
operational procedures. Those technologies may be consumer- facing applications& solution,
business-critical production and logistics solutions or back office monetary systems among
others. The key aim of this study is to analyze the impact of innovation and technology on
business management.
About the organisation
Marks and Spencer is the British retailer which is providing higher quality to their
customers in order to meet needs of their customers. The company is headquartered in London
and was founded in the year of 1884. Marks & Spencer is having significant market image in
which the company is managing different competitors in such a way that the company is holding
appropriate competitive edge. The organisation is fully devoted to include innovation in their
organisation so that business newness can be acquired and at the same time the company is
managing their business functions in unique manner. The company is having separate edge into
food market which means that the organisation is selling different packaged food by which the
company has monopoly into the market. The current report is focused over examining business
management and its role within developing innovation in an organisation. This can be analysed
that with the help of innovation business process can be managed in such manner that ease of
access can be provided.
Research aim and objectives
Research aim

To present and analyse the use of technology in the various processes of managing
business and boosting innovation. A study on Marks & Spencer.
Research objective
 To assess the advancements of technology.
 To understand the process of managing business.
 To determine the impact of technology in managing business.
 To recommend ways of boosting innovation in managing business.
Research questions
 Q1. What is the concept of business management?
 Q2. What are the innovations and advancements in technology?
 Q3. What is the impact of technology on process of managing business?
Research rationale
One of the key reason for performing this investigation is to analyze the impact of
innovation and technology on business management. Additionally, it aids investigator to analyse
the fundamental about innovation and technology related to business management and
significance of technology in improving organisational productivity (Anwar, 2018). In addition
to this, it is also helpful in knowing the role of technology in enhancing business operations and
to analyse barriers in effective adoption of technology and innovation at the workplace. In
respect to personal context, this aids to improve the competencies and develop new ideas etc.
This assists researchers to improve the personality that can aids effectual personality that can
aids into innovation. Also, by assistance of this, researcher may able to enhance their
communication, time management, and others skills.
Significance of the research
The current research is going to contribute to various businesses those are planning to
include innovation into their business functions. For an organisation using of innovation could be
the boon as there are several measures that can be used by the organisation in order to acquire
success into the business functions. The significance of the business is related with examining
role of innovation into the business so that business complexities can be eliminated and at the
same time ease of functionality can be provided (Puklavec, Oliveira and Popovič, 2018). The
innovation is the significant step which is associated with encouraging business functions and to
get prominence into the same. Using the information of the research organisation may set up

innovation into their business and get to know regarding importance and significance of
innovation into making enhanced business functions.
Structure of the report
The report consists of 5 major chapter such as:
Introduction: Under this chapter introductory remarks related with the topic of research. Under
the chapter aim and objectives of the research are entailed for which the research is needed to be
executed. On the other hand, this chapter is holding higher significance in which aspects related
with the research topic can be explained.
Literature review: This chapter is based on collection of secondary data methods in which
different articles and journals are added so that appropriate information can be gathered. This
chapter is holding higher significance as this is the root for the researcher and the research as
well.
Research methodology: Under this chapter different methods are selected those are used within
the research for the purpose of gaining research objectives in appropriate manner. This chapter is
accumulation of different methods and techniques which is used into the research so that to carry
out the research in effective manner.
Analysis and findings: Under this chapter discussion is going to take place using secondary
information and to conclude the same in respect of research objectives.
Conclusion and recommendation: Under this chapter statements are written in a manner that to
show that research objectives are attained. Along with this the chapter is related with providing
different recommendation that can be be used by the businesses in order to develop their
functions.

CHAPTER 2: LITERATURE REVIEW
This is undertaken as the second chapter of particular study wherein the information from
existent available data is accumulated from various sources which is previously researched
through other individuals. In addition to this, it aids upon identifying the research area nature
through accumulating point of view of various scholars as well as thereafter evaluates it
essentially for extracting the effective information which covers overall key aspects as well as
aids to develop in future direction for fundamental investigation. For the current research
literature review is elaborated as under:
What is the concept of business management?
As per the opinion of Nguyen, Newby and Macaulay (2015),business management is a
process of managing the business activity in effective and efficient manner due to which goals
and objective of company can be attained in better manner. Business management mainly
includes money, production of materials, machines, marketing and innovation. It mainly includes
all the functions and activities which provides direction to company for achieving the
organisational goals. There are different types of business management which have their unique
roles and responsibility within an organisation such as financial management, marketing
management, sales management, production management, knowledge management and human
resource management. These types of business management plays an important role in company
due to which they gain success in market.
Business management is important for workplace as it helps in achieving the goals and
objective of an organisation in smooth and effective manner. It helps company to reach the goals
in quick and faster manner. Manager can also use the resources effectively by planing and
cutting the wastage. Business management focuses on reducing the cost of company and also
maximise the productivity of business. The main aim of business management is to direct and
unifies the group efforts so that organisational goals can be achieved in appropriate manner.
There are various roles and responsibility of manager within business such as creating positive
working environment, making proper use of scientific and technology advancements, improving
the deficiency of employees, managing overall business activities, hiring talented workforce and
many others. The different levels of management are top level management, upper middle
management, middle management, lower management and operating force of rank and file