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

This study analyzes the impact of innovation and technology on business management in Marks & Spencer. It covers the concept of business management, innovations and advancements in technology, and the role of technology in managing business. The study also includes a literature review on the topic.

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

workmen (Carayannis, Sindakis and Walter, 2015). Thus, the role of management is to run the
functioning and activities of business in systematic way so that business goals can be attained.
There are certain objectives of management which are fulfilled within business such as to ensure
survival of organisation, revenue generation, planning for growth, producing high quality of
goods and services, managing financial resources, creating employment and many others. For
example, the management of Marks and Spencer ensures that they hire talented workforce within
an organisation so that they can contribute their best efforts in providing better services to
customers. There are various function which are performed within Marks and Spencer such as
human resource management, financial management, sales management, marketing management
and various others. Human resource management of Marks and Spencer focuses on hiring best
and talented employees within company by examining their skills, capabilities and experiences.
They hire the candidate on the basis of set expectation so that they can give best efforts in
enhancing the business performance and productivity.
The other role of human resource management within an organisation is compensation
management, performance management, implementing legal policies, developing strategies,
providing training and development, retaining employees and also maintaining strong employee
relations. Within Marks and Spencer, human resource management ensures that their staff must
feel comfortable while working in organisation so that they can contribute their productive
outcomes in accomplishing the business goals. Financial management also plays a vital role
within business as they manage the financial resources of Marks and Spencer in effective manner
so that they can run the business activities in smooth way. The main role of financial
management is to conduct proper plan and organise all the activities of finance (Belfo and
Andreica, 2018). Different roles and functions of financial manager within Marks and Spencer
are planning the financial needs, investment of funds, dividend decision, profit planning and
control, working capital management and analysing and interpreting of financial statement.
Marketing management also plays a vital role within Marks and Spencer as they focuses on
developing the strategies for promoting the products and services in market.
The main motive of marketing management is to convert the potential consumers into
actual prospects. Marketing management mainly includes setting marketing goals and objectives,
developing marketing plan, organising the marketing function, putting the marketing plan into
action and also controlling the marketing programmes. In Marks and Spencer, Marketing

management plays an important role within business as they develop the strategies for attracting
and retaining the customers by promoting products through using different channels. Therefore,
it is important to focus on managing the business activities in order to gain competitive
advantage in market.
What are the innovations and advancements in technology?
As per the perspective of Kraus and Kraus (2016), innovation is a procedure of brining
something new within business by developing and introducing new things. Innovation is
important for an organisation as it helps in bringing new products and services in market so that
they can attract more and more potential customer towards the brand. There are various benefits
which can be availed by Marks and Spencer through innovating something within workplace
such as it helps in improving the productivity of business, reduces cost, improves brand
recognition and value, increased turnover rate, enhance competitiveness and also build new
partnership and relationship. Thus, innovation is a process of developing more effective
products, process and ideas (Davenport and Ronanki, 2018). Marks and Spencer is focusing on
launching innovation hub, it is specialist team which brings disruptive innovation for creating
industry leading products and addresses the challenges faced by the company in market. The
innovation hub team generally focuses on increasing the demand of food products of Marks and
Spencer so that they can grow in this field and also creates strong customer base. Therefore, the
innovation hub team focuses on supporting the Marks and Spencer food strategy to protect and
build market leading innovation. It is important for company to bring innovation within an
organisation so that they can gain competitive edge in market by attracting maximum number of
people. For example, company can bring new products and services by analysing the need and
demand of customers.
In order to gain competitive edge in market, it is important for company to implement the
right technology within workplace that helps in increasing the productivity and performance of
business. Technology generally helps in increasing the efficiency and productivity of business
due to which company can attract more and more customer towards the brand. The latest
advancements of technology which are used by the organisation are artificial intelligence, robotic
process automation, edge computing, virtual reality, internet of things, social media and cloud
computing (Ghazaleh, Abdallah and Zabadi, 2019). Marks and Spencer uses artificial
intelligence and machine learning technology in order to improve the performance and

productivity of business. By using artificial intelligence technology, company handles repetitive
tasks across the business due to which employees can focus on complex problem solving,
impactful work and creative solutions. Artificial intelligence technology focuses on changing the
way of working of Marks and Spencer as it helps in finding, hiring and retaining talent, build
collaboration among staff, improves remote working, optimise workplace, increases productivity
and also improves training and development programs. Therefore, there is a great importance of
artificial intelligence within workplace as it helps in identifying important changes in patterns,
isolate trends and also helps company to be on right track. Artificial intelligence helps in
increasing the productivity of business by predicting sales, reviewing and extracting information,
leveraging smart chatbots, implementing AI tools and managing real time operations. Marks and
Spencer is also focusing on modernising its supply chain unit by implementing artificial
intelligence and machine learning as it helps in improving the availability by cutting the food
waste. The AI tools are implemented within Marks and Spencer food stores so that it helps in
improving forecasting, smoothing delivery flow, optimising fresh availability and also cutting
waste. The implementation of this technology helps in accounting the shelf space, focuses on
doing adjustments based on weather forecasting and also do promotion of company. There are
various uses of machine learning technology within business such as decision support, customer
churn modeling, fraud detection and many others. Machine learning is important for business as
it helps in increasing the capacity of business by optimising the production process and also it
focuses on reducing the cost by guiding predictive maintenance (Bruce and Hogan, 2019).
Thus, there are various benefits which are gained by Marks and Spencer while implementing
effective technologies within workplace such as it makes the work faster, encourages company to
update, focuses on remote connectivity and various others. Marks and Spencer have strong
presence on social media marketing channels due to which they can attract more and more
prospect buyers towards the brand. Due to pandemic, the brand has transform their way of
working in order to sustain in market for long run and gain competitive advantage in market.
Thus, the implementation of effective technology within workplace helps in automating business
process and also boost the engagement level with customer and employees. Technology helps in
improving the productivity of business and also makes communication better and easier due to
which work can be accomplished in better manner.

What is the impact of technology on process of managing business?
As per the viewpoint of Mazzarol (2015), technology creates a great impact on the
process of managing business. It focuses on improving the productivity and performance of
business due to which company can sustain in market for long run and attain their goals and
objective in effective and efficient manner. Technology generally helps organisation to keep
their ideas away from the competition which helps in achieving the competitive edge in market.
There are various roles which are played by technology while managing the business.
Technology focuses on reshaping the organisation process increasing the speed and reducing the
time on ordinary work tasks. The implementation of technology within Marks and Spencer
brings positive impact on the performance and efficiency of business as it helps in creating new
culture and manage the time and resources in effective manner. While managing the business, it
is important to ensures that growth and performance of company must be improved. Technology
plays a vital role in improving the growth of business and also helps in inflowing the business
information (Fernando, Jabbour and Wah, 2019). By implementing the effective technology,
Marks and Spencer can improve their growth by creating strong presence on social media,
creating website, developing mobile application and also supporting customers.
Marks and Spencer have strong presence on different social media platforms which helps
in promoting the brand and expanding the business globally. Through using technology,
company can reach to large number of audience and also promote their products and brand in
significant manner. The brand also have its own website which provides detail information
related to the products and services. Mobile application helps customers to buy the products from
anywhere at anytime according to their comfort. Marks and Spencer also ensures that their
employees provides better services to its customer by solving their queries and issues related to
the products and services. They provide training and development opportunity to staff so that
they can provide high quality of customer services and make them satisfied. Due to advancement
in digital technology and application, payment and transaction process becomes easy and safe.
The implementation of technology helps in making business payments in easy manner and also it
encourages customer to shop nationally as well as internationally (Den Hertog and Bilderbeek,
2019). Technology also helps in flowing the business information in effective manner so that
they can avoid the losses and focuses on gaining more benefits for changes. The other important
role of technology while managing the business is that is helps in keeping record in better way.

Through technology, company can share and sent the records in easy manner and also the
information can be backed up very easily. The use of technology also helps in improving the
safety and security of of organisation by using various devices and software. Technology helps
in encrypting the business data in order to protect it from unauthorised users and also cloud
storage backup provides a storage facility for files for protecting them from loss. Thus, the
technology helps in increasing the performance and profitability of business due to which
company can attain competitive edge.

CHAPTER 3: RESEARCH METHODOLOGY
Research refers to carefully designing the study in order to address the problem in
scientific manner. Research methodology is a systematic process which helps in identifying,
analysing and interpreting the data about the chosen topic. This is the third chapter of the
research which helps the investigator to carry out the investigation as per their requirement. The
methodology section facilitates the researcher to accumulated answer for their two vital
questions that are how data will be collected and how it will be analysed. This section also helps
the researcher to achieve the aim and objective in effective manner (Mukherjee, 2019). The part
also allows readers to evaluate the validity and reliability of the data in order to reach to ultimate
conclusion. Through the gathered data they address their aim and objective in valuable manner.
It is very important for the researcher to systematically design this section by using various
philosophies, approaches, choices, strategies and many more. Research methodology section
justify the choices made by the researcher so that they can provide validity of the gathered data.
It is very important for the researcher to have a good research methodology in the dissertation as
it helps in providing a sound proof investigation to the researcher. Research methodology is
further divided into various components which are discussed below with the help of Saunders
research onion framework (Bairagi and Munot, 2019).
Research philosophy: The research philosophy is a set of belief and principle about the way or
phenomenon that used by the researcher to gather, analyse and used data in their investigation.
There are three types of research philosophies which are positivism, interpretivism and realism.
Positivism philosophy gathers and analysed objective data from the society, interpretivism
philosophy collect and measures subjective data so that detailed information can be gained from
the community. In last realism philosophy gathers both objective and subjective data about the
human perception on the topic. In the current investigation researcher has selected interpretivism
philosophy (Säfsten and Gustavsson, 2020). The main reason for choosing this is that through
this reality of the topic can be understood in detailed manner. It will gather and analyse
quantitative data so that deeper insight can be made. As well as using this researcher will be very
close to the truth and responses that they will get is more valid. The main reason for not selecting
positivism philosophy is it collect and measure quantitative data only. In which information is in
number so deeper insight cannot be made on the topic.

Research approach: Research approach is a planned process which helps the researcher to
collect data and analysis this information in order to test the hypothesis and theories. Though the
help of research approach, investigator addressed the research problem in effective way. They
are classified into two kinds which are deductive approach and inductive approach. Deductive
approach is the set of existing theories which is being tested in order to reach to the conclusion
whether the hypothesis need to be accepted or rejected. On the other hand, inductive approach is
the process which does not test the theories rather than they build new theories with the gathered
information (Eisend and Kuss, 2019). In present research, deductive approach has been used by
the investigator. The advantage to this approach is that it is more flexible method to test the
theories as hypothesis is made as per the convince of the investigator. This also aids in
generating new theory which helps in attaining aim and objective in valid manner. In contrast to
that deductive approach is not used because it will only test existing theories with the help of
quantitative information. As well as shows the relationship between variables rather than try to
make contact between them by collected information.
Research strategy: It is a step by step plan or action that gives direction to the ideas of the
investigator. This stage in the research methodology helps in conducting the investigation in
quality manner. There are various types of research strategy some of them are survey, action
research, systematic literature review, experimental research, focused group and many more.
Survey research strategy is the process of gathering numerical information from the pool of
respondent by asking them the question. Systematic literature review is the method which collect
secondary information from various secondary sources such as books, magazine, articles, online
site and many more (Coombes and Ryder, 2019). Focused group is the strategy which gathers the
data from six to seven people so that they can acquire feedback from them. In the current
investigation, researcher has chosen systematic literature review strategy. The reason or selecting
this strategy is that it will gather qualitative data in deeper manner. This is also one of the
cost effective method wherein information can be acquired in less time. Using this approach
large data can be accumulated from various sources which helps the investigator to attain aim
and objective in valuable manner. The data in this is gathered by someone else but used in
various investigation.
Research choice: Research choice is the aspect which identify the type of information collected
by the researcher for their selected topic. It is divided into two parts which are quantitative and

qualitative method. Quantitative research method is the process of gathering and analysing
numerical information for the study. On the other side, qualitative research is the process of
collecting and measuring non numerical information. Quantitative information’s in the form of
numbers, values and figures whereas non numerical information is in words and sentences.
Collecting quantitative information is quite easier as compared to qualitative information
(Shields, 2019). In the current research, researcher has selected qualitative research method. The
main advantage to use this method is data will be collected in deeper manner which helps the
researcher to conduct detailed investigation about the topic. Using this approach also make
possible for the investigator to understand the attitude and behaviour of the respondent. This is
also one of the cost effective method as data can be acquired as per the convenience of the
investigator. Another advantage of this research method is it provide insight about the specific
topic and industry. Quantitative research methods not used because it only gathers numerical
information and cannot give insight about the data in detailed manner.
Time horizon: It is a time framework which tells researcher about the investing timeline. This
identify the time period for conducting the investigation. There is two-time horizon which are
cross sectional and longitudinal. Cross sectional time is the time framework which gathers and
analyse the information within short time duration. Longitudinal time horizon is the time horizon
which gathers and analyse data for longer duration. In cross sectional multiple variables are
being observed at the same time and in longitudinal researcher observe single variable for longer
time period (Thomas, 2021). In the current research report, investigator has chosen cross
sectional time framework for their research. The main reason for choosing the cross sectional
time horizon is that it will gathers and measure data in short span of time. Less time and cost will
be acquired in this time framework. Another reason is it will gather data for multiple sources
which helps the investigator to conduct investigation in appropriate manner. The data which is
collected in this can be used in multiple investigation as data is being collected as per the current
scenario.
Data collection: Data collection is the process of collecting, measuring and evaluating
appropriate data asper the study. There are two data collection method which are primary data
and secondary data. Primary data is the process of collecting and evaluating first-hand
information. On the other side secondary data is the procedure of gathering and analysing second
hand information. Primary data collects fresh hand information and secondary data gathers past

data about the topic. In the current research secondary data is used by the investigator to conduct
the investigation. The main reason for choosing this it will identify and collect information in
less time and cost. Secondary data is being collected by various sources such as books, journal.
Magazine, website and many more (Sileyew, 2019). Using this method researcher can also gain
data in large volume. Another reason is different information from various method helps in
enhancing the knowledge about the topic. The reason for not choosing primary data collection
method is it will take time to collect information as well as researcher need to design
questionnaire for obtaining fresh information.
Data analysis: Data analysis is the process of inspecting, cleansing and evaluating the raw data
in order to get useful information. There are two data analysis method which are frequency
distribution and thematic method. Frequency distribution is the method which inspect the
quantitative information whereas as thematic is the method which evaluate qualitative
information. In frequency distribution method data is being organise in structure way and in
thematic the information is represented in paragraphs. In the current research, investigator has
chosen thematic technique for measuring data (Iovino and Tsitsianis, 2020). Using this approach
investigator gets the flexibility to analyse the wide range of information. In this data is
interpreted in the form themes so that non numerical analysis can be made.
Ethical consideration: It is the collection of various principle and values that is followed by the
investigator to gather data in valuable manner from the community. Using ethical consideration
researcher make sure that they will not harm anybody felling will obtaining information. This
also helps the investigator to refrain from the vicious conduct. There is some ethic which need to
be obey which are informed constant form, voluntary participants, confidentiality, not harming
sentiments, honesty, openness, transparency and many more. Values are being followed so that
they can obtain valid and valuable information from the investigator.
Research limitation: In the current investigation, there are certain limitation which is being
faced to conduct the research. The foremost research limitation is time management. It becomes
very difficult to manage the time so that each and every activity can be attained within the
specific time. Allocating time and completing the task within the time framework is problematic.
Another research limitation is lack of knowledge regarding the topic which become challenging
for the investigator to carry out the research in adequate manner. Some other limitation is

budgeting, this is another limitation as researcher cannot able to allocate the budget to each and
every activity (Ratnam, 2019).

CHAPTER 4: FINDINGS AND ANALYSIS
Theme 1: Concept of business management
It is discussed from the above literature review that business management plays an
important role in managing the business activities in an effective way in order to achieve high
growth and success in the highly competitive environment. Managing the activities of the
business in a proper way is the responsibility of the manager as it helps in utilizing the resources
optimally (Mynott, 2018). Business management is an important concept for the company
because without it no business can achieve success in the market. There are different
departments in the company that helps in operating the business operations smoothly and
effectively for achieving better growth prospects. Business management also consists of various
types which helps in managing different roles in a unique way and which mainly includes
marketing, sales, financial, knowledge, human resource and production management. All these
departments are important from the view point of the company because they helps in achieving
better positioning in the competitive market (Muzira, Muzira and Min, 2020). Business
management helps in developing better employees so that they work with high efficiency and
effectiveness for increased productivity and performance. This helps the manager in making
effective and productive decisions within the company in order to minimize the waste of
resources. The main role of business management in he company is to direct employees in the
right direction so that they work according to the set rules and procedures. The manager of the
company is the person who is responsible for managing the employees performance and
productivity of their employees so that they achieve the goals and objectives of the business in an
effective manner.
For managing and controlling the activities of the business the manager performs various
different types of roles an d they are defined as making full and potential use of the technology,
creating a healthy workplace environment, improving employee performance, in recruiting
talented and qualified employees and many others for better development of the company in the
competitive business market (Rendtorff, 2020). Managing the activities of the business helps in
better management within all the departments and this results in improving communication
within the business. Different departments will perform different roles for managing the
activities of the company so that they gain high success and profitability in the market. The
certain objectives hat can be filed while managing the activities of the bushiness in an effective

manner are that they help in planning for growth, in developing and manufacturing good quality
goods and services, ensuring survival of the company, managing all the resources related to
finance, and creating more employment opportunities for employees. This helps the company in
gaining more talented and qualified employees which results in attaining good image in the
market for the sale of goods and services to the customers. When employees are properly trained
and developed by the manager of the company they tend to work with more efficiency for
achieving the defined objectives of the company. The human resource department of the
company mainly focuses on hiring talented employees which are good for the business and are
highly interested in achieving the goals in the competitive market. The department related to
human resources management is mainly responsible for managing all the activities of the
business as they direct activities in an effective manner. Without human resource department, no
organization can function and sustain properly in the market they are responsible for motivating
and inspiring employees foe delivering better performance in the market.
The human resource department is responsible for checking that the employees are feeling good
or bad while working in the company, are they happy with the culture and are they comfortable
with the business market (Lund and Nielsen, 2018). Financial department is mainly responsible
for managing the financial resources within the company in order to make better budgeting
decisions and for managing the company costs. Business management is the designing, creating,
directing and controlling the resources of the organization for better management for achieving
the sustainable goals in comparison with other competitor companies. Managing the business
activities in a proper way is very important for the managers of the company because it helps in
directing the responsibilities and duties of different departments efficiently and effectively.
Theme 2: Innovations and advancements of technology
It is discussed from the above gathered information from the literature review that
innovation and advancements in technology is important in an organization as it helps in
bringing new ideas, thoughts and ways for completing the task in a more appropriate way.
Innovation in the company helps in improving the thought process of the employees which
makes their work more creative and valuable. Innovation in the company also helps in bringing
quality and new design products which helps in attracting to more number of customer and in
acquiring large market share. This also helps the company in gaining more productivity,
reducing costs, high competitor rate, enhanced customer value, increased turnover rate and many

more for more growth and success in the highly competitive market (Nahabedian, 2018).
Innovation in the technology helps in developing and manufacturing more innovate and creative
products for sale in the market which offers more sustainability in the high share market.
In the above discussed literature review that is launching a now innovation hub, which
only focusses on innovating new design and attractive products that results in facing the
challenges of the company. The innovation hub team of the company mainly focuses on building
effective strategy for gaining growth in the food industry as this is also the main product of the
business. This helps in increasing the demand for food products and in achieving high customers
base for the sale of quality food prices and services within the company. With the advancement
in the technology, this helps the company in increasing the working capability and efficiency of
its employees so that complete the work in the given time period (Du and Li, 2019). Adopting to
the new technological changes is important for sustaining in the highly competitive market and
this also helps in bringing new and innovative changes in the products and services in the
business. The advancements in the technology in the organization mainly includes social media,
artificial intelligence, edge computing, robotic automation process, virtual reality and internet of
things that helps the company in doing the work in a more effective manner. The company
mainly focuses on implementing artificial intelligence and machine learning in the business so
that they can operate the activities of the business in a more efficient and proper way. This helps
the company in improving their productivity and performance which results in gaining high
position in the competitive market. By using effective use of the artificial intelligence helps the
company in handling the continuous tasks for focusing properly on the complex process of the
business that are mainly involved in an organization.
Implementation of artificial intelligence technology within the business helps in
recruiting, selecting and retaining employees, improves remote working, increase productivity
and also helps in organizing better and string training and development programs (Howell, van
Beers and Doorn, 2018). For better utilization of new technology advancements in the company,
the manager needs to provide training and development to the employees so that they gain and
learn new skills and knowledge about the new working style and method. This helps the
company in bringing new and productive ways of working so that employees work with high
dedication and confidence for achieving the desired aims and objectives of the business. New
technology advancements in the company helps in developing the processes in a more effective

way so that they achieve high growth and success in the market for bringing new and innovative
employees within the company for performing the given tasks. Innoavtion and creativity are the
two main important factors that helps every business to gain success in the market, so it is
important for the company to implement new technological changes for effective work and
training.
The main aim of bringing innovation in technology is to improve the existing product or
to introduce new product or process so that the company can gain more market share and
customer base in the highly competitive market (Mishra and Natalizio, 2020). With the use of
internet, the company can increase its online presence through social media which helps in
bringing new or existing customers for increasing the sale of products in the market. Technology
also helps in identifying the demands and wants of the customer so that they produce and
manufacture according to their tastes and preferences.
Theme 3: Impact of technology on process of managing business
It is discussed from the above gathered information from the literature review that
technology plays a very important role in managing the process of business activities. This
mainly focuses on improving the performance and productivity of the business in order to
achieve the growth and success in the future. Technology impacts the company positively
because now a days all the other companies are innovating and creating new things with the vast
of technology innovation. Technology is a new trend that is needed by the every company to
achieve the high market share and large customer base in the competitive business market.
Technology helps in bringing new changes and also helps in identifying the weak areas of the
business which requires change for gaining success in the future (Li, Yu and He, 2019).
Adopting technology generally helps in achieving new ideas that are different from the
competitor companies existing in the business market. For achieving high competitive advantage
in the market it is important for the company to adopt new technological changes so that they
work in a more effective and efficient manner (Cole, Stevenson and Aitken, 2019). Technology
plays various roles in the company which helps in managing the business activities such as
improving employee performance, productivity, improving product design and in increasing the
knowledge and skills of employees. The technology in he company also helps in creating a
positive working environment where employees feel motivated and inspired to work the
company. Positive working environment results in improving the working efficient and

capability of the employees for attaining high growth and profitability in the market. With the
effective use of technology within the business operation helps in delivering information within
different departments of the company in a proper way. It is very important for he company to
bring innovation in the technology so that they can produce products in a more effective and
utilized manner which attracts more customer for buying the products and services of the
company. Technology helps the company in creating a strong and effective presence over the
social media and this enable them to sell products through showing their products uses through
online portals.
Innovation in technology enables customers of the company to buy products of the
company from anywhere and at anytime by using mobile applications and this also results in
promoting the brand and expanding the business globally (Paiola and Gebauer, 2020). Marks &
Spencer holds great presence on available several platforms of social media. It assists in the
procedure of brand promotion and expansion globally. With the assistance of technology,
company reaches large number of people and also make people familiar about the products of the
organisation. Companies and brands have their own websites through which they offer visual
representation of the culture of company along with products and services. Mobile applications
also assist customer in purchasing products from anywhere at any time as per their comfort and
ease.
Marks & Spencer makes sure that their workforce gives great customer services to its
customers in relation to the products and services. Company also focuses over resolving queries
and issues of customers about the company's offered products and services. Thus, company
arranges sessions of training and development for employees so that they can easily identify the
needs and requirements of customers and provide services to them accordingly. With the help of
advanced digital technologies and applications, procedure of payment and transaction has
become easy as well as convenient (Popkova and Sergi, 2018). The implementation of advance
technologies make payment system of business quite easy and convenient and it also attracts
international as well as national customers.

CHAPTER 5: CONCLUSION AND RECOMMEDNATION
Conclusion
From the above report this can be concluded that business management is considered as
the activity which is helpful in rendering effectiveness and efficiency to the research. For an
organisation business management is associated with producing of materials and marketing
activities so that in appropriate manner business objectives can be attained. Business
management includes to have measurement of money, marketing and innovation so that by using
all these concepts direction to the business can be given and in the same manner organisational
objectives can be attained. Within an organisation role of business management is related with
executing of roles and responsibilities those are associated with finance, marketing, sales and
production so that business objectives can be attained. Business management is playing crucial
role for the organisation in which under quick and fast manner business goals can be acquired.
Manager of the organisation can also use their resources in optimal manner using business
management so that productivity of the organisation can be enhanced. It is concluded that
technology in business is an important concept to learn and study so that its applications can be
applied in the real world organizations. This is because it is impossible for the businesses to
survive in the market without adopting the advanced technology within the firm as it provides
efficiency and faster process in the company while managing the business. Therefore, it is
important to assess the advancements of technology and it is necessary to understand the process
of managing business. This is because advancements in technology makes the process of the
business more effective due to which the quick operations are carried out. It is vital for the firm
to identify that which advancement will be more beneficial and conditionally they must
implement. Moreover, it is essential to examine the impact of technology in managing business
and it is significant to recommend ways of boosting innovation in managing business. There is a
positive impact of technology on the business as it saves the cost along with the rime efficiency
as well. Moreover, it also enables in the greater security and leads to the innovation and
creativity as well. Basically the above research is based on the presentation and analysis of the
use of technology in the various processes of managing business and boosting innovation.
Hence, the above discussion covers all such areas in order to better understand the concept of
advancement in technology in business management.

Recommendation
It is recommended that the company must focus on the advancement of technology in
terms of implementing the business management applications. So that the different applications
can be integrated to perform the actions aligned with the goals and objectives of the firm. It is
suggested to implement the email and office applications. So that the communication can be in a
good flow among the stakeholder of the company. It is also recommended to integrate the
applications. So that the collaboration process can be effective and efficient in nature. It is also
suggested to focus on the customer feedback through technology. So that the customer
relationship management can be maintained for a long term. It is advised to use the web
conferencing and mobile applications. So that the virtual meetings can be handled from
anywhere and anytime. It is also advised to implement the content management systems. So that
the attractiveness of the content could helps the marketing to attract the customers and also the
talented employees as well. It is recommended to focus on the social networks and virtualisation.
It is suggested to implement the email security. So that the phishing and the malware attacks can
be avoided. It is also recommended to focus on the employees training. So that employees can
handle the technology in a potential manner. It is also suggested to target the adoption of cloud
computing. So that the large amount of data can be stored with proper safety and security. It is
advised to utilise the technology in the accounting systems and marketing process. So that there
can be the increment of sales and revenue generations within the firm with strategic decision
making process.

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