Marks and Spencer And Its Environment

This presentation discusses the internal and external factors that impact Marks and Spencer's operations and profitability. It explores the importance of considering employees' needs, maintaining a positive company culture, and managing resources and finances. Additionally, it examines the influence of the economy, competition in the market, and government policies on the company. The presentation also highlights how Marks and Spencer adapts to its external environment through employee training, market research, and technological innovation.

Introduction
There are several factors or environment which impact on the
business and its operations. These factors can be present inside the
company or impact from outside. So it is essential for company
management to understand these factors and develop strategies
according so that it cannot impact business negatively. Organization
selected for respective poster is Marks and Spencer which is
conducting its business in retail industry and they offer their products
at the worldwide level. Its head office is located in London, United
Kingdom. This poster include information related to internal and
external factors which impact company as well as it also include how
company impact its context external environment.
Marks and Spencer And Its Environment
• So when Marks and Spencer have limited resources and funds it directly
impact on their operations and functions negatively which decrease their
profitability ratio.
External environment are consider as those factors which influence
or impact on the business from outside. It is essential for a business
to act as well as react according to the change in external
environment because that will help in conducting business
operations and functions in proper way. In respect of this, it is
necessary for the management of Marks and Spencer to understand
main two types of external environment i.e. micro environment as
well as macro environment. In order to context external
environment respective company may adopt numbers of methods
such as they must provide training to their employees so that they
can understand those factors and conduct work accordingly. In
addition to this, in order to context external environment Marks
and Spencer also need to conduct regular market research so that
they can identify the factors as well as aspects in effective manner
which help in decision making. In addition to this, respective
company manager also advance technology as well as innovation
as that help them in developing effective decision successfully.
Internal Factors
• Employees – This factor is one of the main aspect which impact
on the company directly or indirectly. So it is essential for
company to consider employees need and expectation while
developing decision as that will help in satisfying employees
which is beneficial for company as their productivity get
increased. In respect of Marks and Spencer it is essential for them
to consider the requirement of employees while developing
decision as that will help on conducting work in effective manner.
• Company culture – Organization culture is considered as value,
believe, attitudes as well as priorities on which management is
running a business in proper manner. It is essential for company to
develop and maintain proper working culture as if they not
employees feel demotivated as well as their work get impacted. In
respect of respective company it is essential for them to maintain
proper company culture where there is team work or collaboration
as that help in enhancing productivity.
• Resource and financial condition - Even in an incredible economy,
absence of cash can decide if organization endures or bites the
dust. When their is money assets are excessively restricted, it
influences the quantity of individuals organization can employ, the
nature of hardware, and the measure of promoting can purchase.
On the off chance that an association flush with money, they have
much greater adaptability to develop and extend their business or
persevere through a monetary slump.
References
• Priest, K.C., Englander, H. and McCarty, D., 2020. “Now
hospital leaders are paying attention”: A qualitative study of
internal and external factors influencing addiction consult
services. Journal of Substance Abuse Treatment, 110, pp.59-65.
• Indriyarti, E.R. and Christian, M., 2020. The Impact Of Internal
And External Factors On Taxpayer Compliance. Journal of
Business & Applied Management, 13(1), pp.033-048.
Conclusion
By conducting analysis of above mentioned topics it can be
summarised that for every company management it is essential to
conduct analysis and determine factors which impact on their
business operations. These factors can be internal as well as
external so management need to conduct evaluation accordingly as
that will help in developing strategies or plans. In addition to this
by those strategies company able to avoid negative impact of
internal as well as external factors or environment on their business
operations and functions.
External Environment
• Economy – In a bad economy, even a highly run business will be unable to
endure. On the off chance that clients lose their positions or take occupations
that can scarcely uphold them, they'll save on games, amusement, blessings,
extravagance merchandise and new vehicles. High financing costs on
MasterCard can deter clients from spending. In respect of this factors when
there is bad economy Marks and Spencer sales get impacted as customer’s
purchasing power get low.
• Competition in market – It is another one of the main factor which impact on
the company business operations and functions. It is so because when there is
huge competition then company need to adopt more innovation and creativity
in order to attract more and more customers towards the products and services
in competitive market. In respect of Marks and Spencer their business get
impacted by respective external factors which directly show through their sales
as well as profitability. So it is essential for company to adopt innovation and
creativity so that they can develop innovative products according to customer
demand as well as market trends.
• Government policies and politics – When government policy get changes a
company need to update or change their business operation and functions
accordingly. It is so because through that they able to conduct business in
proper as well as smooth manner which leads to attainment of their desire goal
and objectives successfully. In respect of Marks and Spencer they are
conducting their business in retail industry at the worldwide level land it is
essential for them to follow government guidelines properly otherwise it may
impact on their business negatively that also decrease their profitability ratio.
How the company impact its context External Environment
For a company it is essential to understand the external environment of their
business as that will help them in conducting business operations and functions in
proper manner so that they can attain their desire goal and objectives successfully.