INTRODUCTION Context of business is wide world in its own that consist the different factors of the business situation like, environment of the business organization. Framework of the business, settings and situation from the business is being surrounded. This report of the context of the business is based on the Marks and Spencer plc, which is a British multinational company. That provide wide range of products to the customers. With the help of this report, brief history of the Mark and Spencer company. Vision, leadership style and management style will be considered that are applied by the company. Further more impact of the business by the culture and management style of the organization. Lastly recommendations will be given to improve the leadership style, management style of the company. MAIN BODY 1 Brief history and summary of Business. Mark and Spencer is a British multinational company. This company works in the retail industry to fulfil the needs of the customers. Headquarter of mark and Spencer is in London united Kingdom. Mark and Spencer was founded in the year of 1884 by the Michael Marks and Thomas Spencer. On the basis of founder's last name, company's name was decided, which is Mark and Spencer. Chairman of Mark and Spencer is Archie Norman and Steve Rowe is its chief executive. In 1998, Mark and Spencer was the first company of the British retail industry to make -pre tax profit of over 1£ billion. Mark and Spencer currently served its services in 1463 number of location as according to the year 2019 with the help of their 959 stores kin the UK its self and 615 stores in other countries(Jones and Comfort, 2018).Company has different brand like Per Una, Autograph, Limited edition, Classic, Mark and Spencer collection, Blue Harbor, Mark and Spencer energy and Mark and Spencer bank, which is owned by HSBC. With the help of these brans and wide range of the stores, market and Spencer provide the different products like high quality clothing, food products and home utilities -product. In which, Mark and Spencer is specialised in selling high quality clothing. Mark and Spencer is listed in the London stock exchange and also constituent of the FTSE 100 Index. The largest shop of Mark and Spencer in London, which is at Marble arch on Oxford street. In the year of 2019, revenue of the company is £10,377.3 million. Operating income of the
company was £601.0 million at the year of 2019. and net income of the company is £37.3 million. Company has 80,787 number of employees, that help the mark and Spencer company to serve their services in number of location. These number of employees also help to fulfil the target of the company by satisfying the needs of customers. Mark and Spencer also served their services trough the online services, through customers can directly purchase its products and products directly reach at their door stop. 2 leadership style, management style and vision of the company. Vision and Mission of mark and Spencer Vision of the Mark and Spencer is to provide the standard products that other measured. Also have the vision by setting the benchmark for other competitors in order to increase their profit share. Mission of Mark and Spencer company is to provide high quality products to their customers in the area of clothing, food and home utility customers. Another mission of the company is to bring the social revolution by providing the employment in their organisation. Leadership style Leadership style that are being applied by the Mark and Spencer is Autocratic leadership style. As this autocratic leadership style is also known as the authoritative leadership style. In this all the decision and strategies are being taken by the high authority of the Mark and Spencer company. In this have the control of an individual over the decision-making process and al;so have the little or little participation of their employees. But this leadership style have some disadvantages like, group members or the employees rarely trust on the decision which are made by their leaders as having the less participation of them. This discourages the group member and input from the decisions(Basran and et.al., 2018). Another leadership style is being applied by the Mark and Spencer is that, participative leadership style. This is very effective leadership style. In this all the decisions are being made by having full participation of their employees, so that they can willingly accept change in the organization. This leadership also help the leaders and managers to make decision as they actively participate in all the activities that are performed by the management and leader of the Mark and Spencer. With the help of this leadership style, employees have all the freedom to share their views and opinion and if they have any problem regarding anything, they can share freely. This will help the Mark and Spencer to make any changes to bring improvement in the
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company and its leadership style, in order to increase its productivity in the market. Like, to increase the sales of its clothing, food and home utility products in the market. Management practices Mark and Spencer follow the continues training and development management style. This helps the company to make improvement in the employees and their skills. This management style provide to different training and development to their employees as according to need arises in the company at every level(Bender and et.al., 2018). This helps the employees of the Mark and Spencer to make enhancement in their skills as according to their position and job role. These enhance skills help the company that, employees get motivated, turnover get reduced, employee retention is increased in the company. As more skilled employees are will likely to able make satisfied their customers need and wants. As Mark and Spencer has number of stores at number of location globally, so this management practice helps the company to understand the need of the all kind of customers in the different location. Also make them satisfied with having better understandingof their customers of different region by gaining the training at every stage and according to the changing market trend and demand and choice of the customers. 3 Analyses how culture & management styles influence business functions and strategies Marks & Spencer is a retailer that provides and well-known for its qualitative products and services. It is analysed that this company is making its strong position in the market. The main success of this retailer company is management styles and culture. There are several strategies and management styles are being followed by Marks & Spencer such as: Management styles Democratic:It is the best style of management of all resources and processes of the company. According to this style, manager involve their employees and people in their decision- making process. It is the best way of motivating them. Manager of Marks & Spencer believes that employees are key element of their success, so it adopts this style. It is also called participative style and is employees oriented approach rather than task oriented. When manager give opportunity to their employees in their decision-making process, then they feel more motivated and work productively. It is beneficial for both employees and employers as it helps them in increasing sales (Wronka-Pośpiech, 2016). Transactional:Transactional management style also called as the best and effective style of managing. With the help of this style, manager of Marks & Spencers company focus on
providing positive rewards to their employees which includes bonus, incentives etc. It is the way of motivating employees for increasing performance and productivity of them. This style believes that a manager can effectively and successfully manage their organization through extrinsic rewards. Organizational culture: In the context of organizational culture, it is analysed that diversity is at the heart of Marks & Spencer’s. It appreciates their people's differences and it makes their workplace a great place to work. It is the main characteristic of its organizational culture. It has other various characteristics as its culture shows that how well an individual fits in an organizational context. For making more effective its culture it uses Charles Handy model which help them in understanding behaviours and attitudes of their employees and people and take corrective actions on the basis of feedbacks. Power culture:In this type of culture, power of managing and leading is in the hand and help by just a few individuals. Those people who have power, they are being authorized to take decisions & enjoy special privilege as compare to others. These people and employees in an organizationdelegateresponsibilitiestootheremployeesandemployeeshavetofollow instructions of their subordinates. Role culture:In this type of culture all employees are delegated roles and responsibilities on the basis of their specializations, skills and abilities. In this type of culture people and members of the company have willingness to work more productively by accepting challenges (do Carmo Silva and Gomes, 2015). Task culture:In this type of culture, teams are being made with the main aim of achieving a common goal and solve any type of problems with collaboration. Each team consists of 4-5 members & contribute equally in accomplishing given tasks in an innovative manner. Person culture:There are some organizations who follow this type of culture. In this type, people feel that they are more important than their organization. It is not an effective culture because organizations have to suffer because people and employees have more concern about their own self. Marks & Spencer company follow and focus on role culture. The main aim of following this culture is to make their employees able to think critically. People and employees have clear
understanding about their roles and responsibilities within a highly defined structure (Alvesson and Sveningsson, 2015). 4 Recommendation for leadership styles, management practice & other strategies that need to be taken by an organization For the further improvement it can be recommended to the Marks & Spencers on the basis of above study that it should focus on adopting democratic or consultative style. There are some disadvantages of autocratic leadership style as it demotivate employees because, leaders of the company do not involve them in any decision-making process. With the help of democratic and consultative style it can motivate their employees towards achieving their pre determined goals. Inaddition,itcanalsoberecommendedthatMarks&Spencermustfocuson management practices as it only uses training and development for their employees. For encouraging them towards completing work with effectively, they can adopt rewards and incentives policy. It has mainly 2 types of rewards such as financial and non-financial. By identifying needs of employees it can provide their different rewards like appreciation for better performance, bonus, incentives. This management practice is called and proved an effective and the best practice which can help the manager of the company in accomplishing their goals and achieving their vision by making their employees effective and more capable. Marks & Spencers company should use other strategies that can provide urgent products and services to customers. It provides pre purchasing services to customers. For retaining their customers for the long run it can provide them post purchasing services like give suggestions regarding products, consider and solve their complaints etc. When company give post purchasing services to customers then it increases loyalty among employees towards the company, and they also help the company by promoting their product via word of mouth. CONCLUSION From the above study it has been summarized that leadership style and different management practices played a vital role in retailer sector company. With the help of different management practices like rewards, safety at workplace, manager of an organization succeed in
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achievingtheirpredeterminantsgoals.Furtherithasalsoshownaboutimportanceof management styles and organizational culture. Handy's model of organizational culture made it able to understand behaviour, attitudes and nature of their employees for motivating them. Lastly it described and showed some ways & recommendations of improving processes and styles of leading and managing in the selected organization. When leaders involve them in any type of process and give authority to take suggestion then employees feel respected which can decrease labour turnover and increase profitability.
REFERENCES Books and Journals Alvesson, M. and Sveningsson, S., 2015.Changing organizational culture: Cultural change work in progress. Routledge. Basran and et.al., 2018. Styles of leadership, fears of compassion, and competing to avoid inferiority.Frontiers in psychology.9. Bender and et.al., 2018. Management practices, workforce selection, and productivity.Journal of Labor Economics.36(S1). pp.S371-S409. do Carmo Silva, M. and Gomes, C.F.S., 2015. Practices in project management according to Charles Handy's organizational culture typologies.Procedia Computer Science.55. pp.678-687. Jones, P. and Comfort, D., 2018. Storytelling and corporate social responsibility reporting: A case study commentary on UK. food retailers.Journal of Public Affairs, p.e1834. Wronka-Pośpiech,M.,2016.Theidentificationofskillsandcompetenciesforeffective managementinsocialenterprises.Amanagerialperspective.Management.20(1). pp.40-57.