Modern Business and Organizational Growth

The provided assignment is a detailed report on modern business and organizational growth, focusing on the M&S company as a case study. It explores various factors influencing business growth, including micro and macro environments, social, cultural, economic, and environmental factors. The report also discusses different leadership styles, management practices, and strategies for improvement, such as democratic leadership, flexible working options, and training and development. By analyzing these elements, the assignment aims to provide insights into how organizations can foster growth and sustainability.

Context of Business-
Part 2

INTRODUCTION
In business people communicate with each other and also they share their thoughts and
ideas for making something innovative. Nowadays, innovations and creativity attract customers
toward their product and company which helps in earning profit. A business can earn a profit for
the products and services it offers. Now these days there are various change occurs in the way of
operating business in global context. This section of report give a discussion about a retail sector
firm, their vision, leadership style, management practices and various strategies by using various
theories. Recommendations for making improvement in all of these will be also explained
PROJECT 2
In an organisation, leadership style is refers to an approach that are use by the
management department of the firm to provide direction to the company to operate its business.
This project is based on Mark & Spencer. It is a major British multinational retailer which is
headquartered in Westminster, London. In it, further will be discussed about the brief history of
the business, vision, leadership style, management practices and various theories that are used by
company to develop different strategies. it will be also described that how these style and
strategies implemented by the company. Recommendations are also be described to make
improvement in leadership styles, management practices and various theories to develop
different theories (Feth and Jung, 2012).
1. A brief history and summery of the business
Mark & Spencer Group Plc is a British multinational company which is founded in 1884.
The organisation was founded by a partnership between Michael Marks and Thomas Spencer.
Michel Marks, a Polish Jewish family and Thomas Spencer, a cashier from the English market
town of Skipton in North Yorkshire. It is a type of public limited company and operate its
business in various countries of the world such as Europe, Hong Kong, Canada, Australia,
Bermuda and others. It deals in retail sector and sell clothing, footwear, gifts, home furnishing
and food products etc. M&S currently has 979 stores across the UK in which there are 615 only
sell food products. Currently there are 80,787 employees are work89ing under it and the revenue
of the firm is £10,698.2 million, operating income is £670.6 million and net income is £29.1
million. On the other hand, it can be said that a business is being considered as an idea that
includes basic information like services and product, the target demographic and a unique selling
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proposition that provide various advantages to a company or organisation. In this task will be
defined about micro and macro environment factors that changed the nature of modern business
in the global environment. The mission of this company is to make aspirational quality
accessible to all. the main objective of the company is that to provide good quality products to its
customers to make sustainability till long term.
This company is large British multinational retailer and operate its business worldwide.
The reason is that to chose this company is, it operate its business global level and in various
countries of the world so the management department of the company can gain knowledge about
the culture and needs of different customers according the nation. This firm deals in selling
variety of products so that they can have information about different products. Doing work under
this organisation, the employees can get information about various demographic factors that
affect the business of the company (Frece and Juric, 2012).
2. Discussion about the vision, leadership style, management practices and various strategies to
make use of various theories
Vision- The vision statement of M&S is to be the standard against which others are
measured .
Leadership style- it is a manner which is used by the companies to provide direction,
implementing plans and motivating people. In M&S, it is used by the company to provide
direction to employees so that they can perform their duties in an effective manner and achieve
their aims. There are different types of leadership styles such as democratic, autocratic, strategic
and others. M&S follow variety of leadership style such as autocratic, democratic and strategic
etc. because it operate its business worldwide so it need to design strategies according to the
needs and demands of the customers (Harrison, 2013).
Autocratic- It is a leadership style where a leader dictates policies and procedures and
they have information about the goal that are to be achieved. In M&S the manager is used it to
giving instructions such what they should do or not rather than to know about their views and
ideas. The manager is the only one person which is responsible to take decision. this style is
followed an used by the company in few situation when they are doing work on a specific or
important case and they need to take decision.
Democratic- It is also known as participative leadership style in which individuals
typically be analysed unequally because the hierarchy standards have common power in decision
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making. In M&S, under this style, the decision are based on the efforts and dedication of the
employees. So that they can also share their views and ideas fro the organisational growth. By
following this style, the management of the company can motivate its employees by providing
participation right so that they can feel motivated and doing their work more effectiveness. With
it they can share their problems with their seniors and make an open communication with them.
Strategic- It refers to the potential and efforts of manager to define a strategic vision for
the company and encourage employees and others to achieve and attain the aims and vision. In
M&S, it refers to the ability and capability of someone to motivating them to make decision
which increase the prospects for the firm's long term growth when they are maintain short term
financial stability. This style is followed the management department of the company to design
polices and Strategies for proper running of the business (Lankoski, 2016). Strategic thinking
play and important role in dynamic business environment of M&S.
Management practices- It refers to the working methods and new ideas and innovation that
managers implement to make improvement the effectiveness of the work systems. There are
number of management practices that can be used by M&So increase the profit and productivity
of the company and make loyalty of their employees towards the firm.
Reward system- It is a way to motivate the employees by providing extra benefits to them
for their good work and performance. In M&S, the management department of the company can
use it for providing motivation to their employees so that they can help the company to achieve
its business objectives. The manger of the organisation can conduct performance appraisal and
analyse the performance of their workers and reward them by various term such as by proving
extra vacations, promotion and others.
Be Flexible- It is another management practice that can be used by the management
department of M&S to make flexibility in the work and working conditions. Through this
practice, thy can provide flexibility to their employees so that they can do their working them. In
it. they can provide various options such as part time work, work from home etc. It help in make
sustainability in the organisation and its work culture. For example, if any employees are not
able to come to office then the manager of the organisation can provide them these options
which maintain the work of the firm. the manger will not be manger the work of absent
employees by others and the other employees can do their work properly.
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Strategies- There are various strategies that can be followed by the management
department of M&S. For example, in M&S there are employees turn over are increasing cause of
lack of training. According to Supportive leadership theory, for dealing with this issues and
problem, the manager of the company can develop a new strategy to resolve these problems.
They can conduct proper training program so that they can make improvement in the skills and
knowledge of the employees and workers or reduce employees turn over. With the help of this
strategy, they can provide future growth option to their employees because when the employees
increase they skills and abilities than they can get promotion or make development at personal
and professional level (Lieder and Rashid, 2016). This strategy also help in the organisational
growth because the employee gain knowledge about new technologies and they will fulfil the
needs and demands of the consumers. It enhance the productivity, increase profit of the company
and help in achieving its business objectives.
3. Analyse how the above have been achieved or implemented
In M&S, the management depart met of the company can implemented leadership style,
management practices and various strategies in different situations. For example, If the manger
of the company can use autocratic leadership style in employees turn over condition. They can
take decision and organise training and learning sessions, provide benefits to its employees to
reduce this problem. During the time of formation of new business strategies they can use
demographic leadership style and conduct a meeting in which they can get views and ideas of
different people (Maylor, Blackmon and Huemann, 2016).
Every country have different culture, values and beliefs so the demands and needs of the
people of that nation will be according to them. This affect the factor affect the nature of modern
business because the firm developed various products according the consumers needs and
demands. For example, Zara, operates its business in various countries of the world. So it do
market analysis to identify the needs and demands of the consumers and provide products
according their culture and values. For example, in M&S, the employees are facing problem of
lack of motivation, the manager of the company can use different management practices such as
reward system and flexible working option. With the help of reward system, they can provide
gifts, training outside of the organisation, promotion, extra vacation and others. This motivate the
employees and they do their work properly in all situations. By using flexibility work option, the
organisation can motivate their employees because when they are not capable to come to office,
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they can do their work form home. This motivate them and they do their work with more
effectiveness.
4. Reconsiderations for an improvement in order to leadership styles, management practices and
various strategies that can be used by the firm
By using or following different leadership styles, management practices and strtaegi4s,
the company can make improvement in its growth. The recommendations are as following:
 By using democratic leadership style, the company can take good decision in context to
organisational growth. Because in it, the manager of the company provide rights to its
employees to participate in decision making process. They can share their ideas and
views and if their decisions are right for the company, the senior support them.
 It can be recommanded that with the help of flexible working option management
practice, the manager or employees can help in the organisation growth (Ramadani and
Tahiri, 2015). Because when the employees are not good and not able to come to office
they can do their according their suitable way such as part time work of work from home.
This make sustainability in the work and the senior of them will not be suffer from
overload work pressure. They will constantly focus on their work.
 By using training and development strategy, the management department of M&S can
solve the issue of future growth which is the main problem that is faced by most of the
employees. If the company use it, its can make improvement in its employees skills and
knowledge which help in the growth of the firm also (Ramaseshan, Rabbanee and Tan
Hsin Hui, 2013).
CONCLUSION
From the above report it can be concluded that use of various strategies, leadership styles
and management practices are important fro the growth of the company. In project one, micro
and macro environment factors are explained that help in changed nature of modern business at
global level. It is also discussed that how social, cultural, economical and environmental factors
are necessary to run a business ethically.
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REFERENCES
Books & Journals
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