Operations Management Research and Applications
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This assignment provides a detailed overview of operations management research and applications. It includes a list of references to various studies and publications related to the topic, such as logistics and retail management, solid waste management, and socially responsible value chain innovations. The references are from reputable sources like IEEE transactions on cybernetics, Computers & Industrial Engineering, and Management Science. Additionally, it provides online resources like Total Quality Management (TQM) definition from Techtarget. This study guide is essential for students and professionals looking to understand the concepts and applications of operations management.
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Management and
Operations
Operations
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INTRODUCTION
Management and operation refer to production activities which are controlled and
designed by top level to accomplish objectives. It is administration responsibility to use
resources that are funds, material and manpower efficiently. Along this, they need to deliver
different items and services in market to fulfil requirements and needs of people (Saucedo-
MartÃnez and et. al., 2017). This assignment includes Marks and Spencer Group Plc, is a retail
firm which has headquarter in United Kingdom. Company provide variety and quality of food
items, beauty things, clothes, flowers and gifts to consumers. The report defines role and
characteristic of manager and leader and its application in different situations. Different theories
and approach of operations management are used by superior to attain objectives. Apart from
this, factors of business environment are acknowledged by seniors to make appropriate
judgements for organisation.
TASK 1
P1 Different role and characteristics of a manager and a leader
Each and every company, superior responsibility is to provide instruction and guidance to
subordinates to make them execute activities effectively. Manager as well as leader both require
to coordinate and guide subordinates to make them work proficiently. This helps company to
provide appropriate items and services to buyers to complete their needs and requirements. This
benefit administration to enhance sales volume and generate good amount of profit from
business.
As per Fernieand Sparks (2014), manager formulate strategies and distribute tasks and
duties to employees in according to their capabilities. Besides this, they even monitor
performance of staff to execute training and development programs to improve abilities and
skills of members.
According to Smith, Maull and CL Ng, (2014), leader plays essential role in company
which is to retain skilled and competent members for longer time. For this, they maintain
relations with employees to motivate them towards duties. Thus, manager anticipate issues and
problems that are faced by team members to provide them solutions.
Marks and Spencer is a famous and leading firm which was established in 1884. It is a
multinational retail store which has headquarter in United kingdom and other countries.
1
Management and operation refer to production activities which are controlled and
designed by top level to accomplish objectives. It is administration responsibility to use
resources that are funds, material and manpower efficiently. Along this, they need to deliver
different items and services in market to fulfil requirements and needs of people (Saucedo-
MartÃnez and et. al., 2017). This assignment includes Marks and Spencer Group Plc, is a retail
firm which has headquarter in United Kingdom. Company provide variety and quality of food
items, beauty things, clothes, flowers and gifts to consumers. The report defines role and
characteristic of manager and leader and its application in different situations. Different theories
and approach of operations management are used by superior to attain objectives. Apart from
this, factors of business environment are acknowledged by seniors to make appropriate
judgements for organisation.
TASK 1
P1 Different role and characteristics of a manager and a leader
Each and every company, superior responsibility is to provide instruction and guidance to
subordinates to make them execute activities effectively. Manager as well as leader both require
to coordinate and guide subordinates to make them work proficiently. This helps company to
provide appropriate items and services to buyers to complete their needs and requirements. This
benefit administration to enhance sales volume and generate good amount of profit from
business.
As per Fernieand Sparks (2014), manager formulate strategies and distribute tasks and
duties to employees in according to their capabilities. Besides this, they even monitor
performance of staff to execute training and development programs to improve abilities and
skills of members.
According to Smith, Maull and CL Ng, (2014), leader plays essential role in company
which is to retain skilled and competent members for longer time. For this, they maintain
relations with employees to motivate them towards duties. Thus, manager anticipate issues and
problems that are faced by team members to provide them solutions.
Marks and Spencer is a famous and leading firm which was established in 1884. It is a
multinational retail store which has headquarter in United kingdom and other countries.
1
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Company is conducting operations in clothing, home and food segments which help
management to attract large number of people and fulfil their requirements and demands.
Similarity between leader and manager:
Basis Leader Manager
Characteristics Leader have interpersonal
skills which help them to
establish and maintain friendly
relations with subordinates.
This help them to have
complete knowledge about
thoughts and opinions of staff
to increase their morale and
dedication towards job
(Ravindran, 2016).
Manager have good
communication skills which
help them to direct and
coordinate work of teammates.
Along this, they even involve
staff in decision-making
process to motivate and make
them feel connected with firm.
Functions Leader guide and inspire
employees to attain targets and
objectives.
Manager frame plan, organise
people, direct and control them
to achieve goals and
objectives.
Difference between roles of managers and leaders:
Basis Managers Leaders
Skills
Manager has communication
skills, decision-making
capabilities and time
management to manage
resources and conduct business
operations effectively.
Leader have team building
ability, interpersonal skills,
motivation, delegating to retain
skilled and competent people
for longer time (Mahadevan,
2015).
Managers frame strategies,
provide tasks to employees
and coordinate their efforts to
Leader provide direction and
guidance to subordinates to
make them perform tasks in
2
management to attract large number of people and fulfil their requirements and demands.
Similarity between leader and manager:
Basis Leader Manager
Characteristics Leader have interpersonal
skills which help them to
establish and maintain friendly
relations with subordinates.
This help them to have
complete knowledge about
thoughts and opinions of staff
to increase their morale and
dedication towards job
(Ravindran, 2016).
Manager have good
communication skills which
help them to direct and
coordinate work of teammates.
Along this, they even involve
staff in decision-making
process to motivate and make
them feel connected with firm.
Functions Leader guide and inspire
employees to attain targets and
objectives.
Manager frame plan, organise
people, direct and control them
to achieve goals and
objectives.
Difference between roles of managers and leaders:
Basis Managers Leaders
Skills
Manager has communication
skills, decision-making
capabilities and time
management to manage
resources and conduct business
operations effectively.
Leader have team building
ability, interpersonal skills,
motivation, delegating to retain
skilled and competent people
for longer time (Mahadevan,
2015).
Managers frame strategies,
provide tasks to employees
and coordinate their efforts to
Leader provide direction and
guidance to subordinates to
make them perform tasks in
2
Purpose achieve goals and targets
within defined time.
proficient way.
Role Manager is reactive in nature
which make changes in
system, strategies and duties of
employees in according to
market conditions.
Leader is proactive in nature
which gets responsibilities
from top personnel and make
transformation in policies and
work of members accordingly.
Path
Manager formulate strategies
and provide targets and tasks
to members in respect to their
skills and knowledge.
Leader provide instruction and
guide staff to make them
dedicated to perform activities
effectively.
Style Manager uses transactional
style which define that targets
and tasks are provided to
members for execution of
business activities properly
(Ghiani and et. al., 2014).
Leader uses transformational
style which is to inspire staff
and make them perform
operations to complete targets
timely.
Management structure: Flat, matrix, divisional, functional, etc are various organisation
structure which are selected by top personnel in respect to resource availability and market.
M&S is retail store which is conducting business globally uses divisional and functional
organisation structure to manage resources properly. Divisional organisation structure helps
executive to execute activities internationally to increase market reach and customer base.
Functional structure helps administration to divide members in different department that are
finance, human resource, production/operation, research and development, marketing,
information technology and sales. This benefit firm to conduct business operations effectively
and deliver quality products and services to buyers. Thus, administration is able to accomplish
goals and objectives within specifies time (Choi, Chan and Yue, 2017).
3
within defined time.
proficient way.
Role Manager is reactive in nature
which make changes in
system, strategies and duties of
employees in according to
market conditions.
Leader is proactive in nature
which gets responsibilities
from top personnel and make
transformation in policies and
work of members accordingly.
Path
Manager formulate strategies
and provide targets and tasks
to members in respect to their
skills and knowledge.
Leader provide instruction and
guide staff to make them
dedicated to perform activities
effectively.
Style Manager uses transactional
style which define that targets
and tasks are provided to
members for execution of
business activities properly
(Ghiani and et. al., 2014).
Leader uses transformational
style which is to inspire staff
and make them perform
operations to complete targets
timely.
Management structure: Flat, matrix, divisional, functional, etc are various organisation
structure which are selected by top personnel in respect to resource availability and market.
M&S is retail store which is conducting business globally uses divisional and functional
organisation structure to manage resources properly. Divisional organisation structure helps
executive to execute activities internationally to increase market reach and customer base.
Functional structure helps administration to divide members in different department that are
finance, human resource, production/operation, research and development, marketing,
information technology and sales. This benefit firm to conduct business operations effectively
and deliver quality products and services to buyers. Thus, administration is able to accomplish
goals and objectives within specifies time (Choi, Chan and Yue, 2017).
3
TASK 2
P2 Apply function of manager and role of leader in different situational contexts
Each and every firm is present in environment which is dynamic and changes with time.
In order to run business with new trends of marketplace, it is necessary for a company to
implement effective and unique strategies. Manager as well leader of M&S know that firm have
branches globally so, they have to adopt strategies by which different situations can easily
handle. These are different situations which superior consider to make system function properly
are stated below:
Risk taking: It is another situation which define that organisation is present in dynamic
environment which keeps on changing with time. Along this, management have shortage of
funds which require to be used efficiently. It is essential that executive generate sufficient profit
to sustain its market position and brand reputation. Besides this, they even require to provide
return to investors for maintaining relations with time. These are various risks which superior
require to acknowledge to conduct business activities effectively and sustain its brand value in
market.
Decision-making: In each organisation, administration conduct conference and meeting
for making decisions and choose options that are advantageous for system functioning. Market
survey are executed by superior of M&S to have accurate knowledge about demands of people
and competitor's offering. These techniques help superior to make alterations in system and
policies in respect to conditions of market. Along this, transformation in technologies and
equipments are also made by administration to provide products to buyers of good quality. In this
leader involve staff members in decision-making process to motivate them and inspire them to
work effectively (Bromiley and Rau, 2016).
P3 Application of different theories and models of leadership approach
Management require to design system and execute business operations effectively for
growth and development of company. It is necessary that superior uses appropriate theories and
model to conduct activities and direct members to perform tasks effectively. M&S is retail firm
which sell different food items, home appliances and clothes. For this, administration need to
have knowledge about market situation to make modification in technologies and system. Thus,
4
P2 Apply function of manager and role of leader in different situational contexts
Each and every firm is present in environment which is dynamic and changes with time.
In order to run business with new trends of marketplace, it is necessary for a company to
implement effective and unique strategies. Manager as well leader of M&S know that firm have
branches globally so, they have to adopt strategies by which different situations can easily
handle. These are different situations which superior consider to make system function properly
are stated below:
Risk taking: It is another situation which define that organisation is present in dynamic
environment which keeps on changing with time. Along this, management have shortage of
funds which require to be used efficiently. It is essential that executive generate sufficient profit
to sustain its market position and brand reputation. Besides this, they even require to provide
return to investors for maintaining relations with time. These are various risks which superior
require to acknowledge to conduct business activities effectively and sustain its brand value in
market.
Decision-making: In each organisation, administration conduct conference and meeting
for making decisions and choose options that are advantageous for system functioning. Market
survey are executed by superior of M&S to have accurate knowledge about demands of people
and competitor's offering. These techniques help superior to make alterations in system and
policies in respect to conditions of market. Along this, transformation in technologies and
equipments are also made by administration to provide products to buyers of good quality. In this
leader involve staff members in decision-making process to motivate them and inspire them to
work effectively (Bromiley and Rau, 2016).
P3 Application of different theories and models of leadership approach
Management require to design system and execute business operations effectively for
growth and development of company. It is necessary that superior uses appropriate theories and
model to conduct activities and direct members to perform tasks effectively. M&S is retail firm
which sell different food items, home appliances and clothes. For this, administration need to
have knowledge about market situation to make modification in technologies and system. Thus,
4
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these are various theories that superior can use are stated below (Hoyos, Morales and Akhavan-
Tabatabaei, 2015):
System leadership theory: This hypothesis defines that manager duty is to execute
activities to accomplish objectives and goals. Top personnel require to design system and use
technologies and equipments to execute operations effectively (Hübner, Holzapfel and Kuhn,
2015).ï‚· Strength: This model helps superior to use adequate techniques to provide variety of
items to customers.
ï‚· Weakness: It also have some demerit which define that management require to have
adequate system to give quality products to buyers. For this, employees skills and
knowledge determine their performance and outcomes which impacts on sales of
company.
Contingency leadership theory: This model specifies nature, personality and various
other characteristics of superior determine system functionality and employees work. It is
essential that transformation in technologies and strategies are made by management of M&S to
make changes in products in according to choices and demands of people.ï‚· Strength: This tactic helps management to frame flexible task structure which is
transformed and alterations in system and strategies are made in respect to market
conditions (Gunasekaran, Irani and Papadopoulos, 2014).ï‚· Weakness: This approach have certain demerit which is employees acceptance and
willingness to work with advanced technologies and changing environment. This is due
to workers capabilities, as they require to learn new things and methods to ececute
activities properly.
Situational leadership theory: This is an efficient concept which was propounded by
Paul Hersey. This tactic specifies that organisation are present in dynamic environment which
never remains static and changes with time. For this, it is superior responsibility to make
alterations in system to make it function in according to conditions of market.ï‚· Strength: It is popular approach which help manager to acknowledge and make
transformation in system and employees work in according to situation. Along this,
leader is flexible and uses leadership style in respect to market.
5
Tabatabaei, 2015):
System leadership theory: This hypothesis defines that manager duty is to execute
activities to accomplish objectives and goals. Top personnel require to design system and use
technologies and equipments to execute operations effectively (Hübner, Holzapfel and Kuhn,
2015).ï‚· Strength: This model helps superior to use adequate techniques to provide variety of
items to customers.
ï‚· Weakness: It also have some demerit which define that management require to have
adequate system to give quality products to buyers. For this, employees skills and
knowledge determine their performance and outcomes which impacts on sales of
company.
Contingency leadership theory: This model specifies nature, personality and various
other characteristics of superior determine system functionality and employees work. It is
essential that transformation in technologies and strategies are made by management of M&S to
make changes in products in according to choices and demands of people.ï‚· Strength: This tactic helps management to frame flexible task structure which is
transformed and alterations in system and strategies are made in respect to market
conditions (Gunasekaran, Irani and Papadopoulos, 2014).ï‚· Weakness: This approach have certain demerit which is employees acceptance and
willingness to work with advanced technologies and changing environment. This is due
to workers capabilities, as they require to learn new things and methods to ececute
activities properly.
Situational leadership theory: This is an efficient concept which was propounded by
Paul Hersey. This tactic specifies that organisation are present in dynamic environment which
never remains static and changes with time. For this, it is superior responsibility to make
alterations in system to make it function in according to conditions of market.ï‚· Strength: It is popular approach which help manager to acknowledge and make
transformation in system and employees work in according to situation. Along this,
leader is flexible and uses leadership style in respect to market.
5
ï‚· Weakness: This theory have certain drawback which superior faces is making changes in
system in according to market situations. Besides this, they even require to have
employees which are ready to adopt and work in dynamic environment.
Therefore, management of M&S uses system leadership theory which help firm to have
appropriate technologies implemented in store to provide quality products and services to buyers.
Administration make changes in technologies and equipments to deliver different variety of
items to people in according to their preferences. Along this, superior direct and guide members
by providing them information about modifications in system. Thus, employees require to work
proficiently for timely completion of targets.
TASK 3
P4 Key approaches to operations management and their application in organisation
Operations management require to execute business activities effectively. Management
frame strategies and distribute tasks and targets to members to deliver quality products and
services to people. For this, top personnel of M&S have different approaches which require to be
used to get adequate outcomes. These are different approaches which help superior to conduct
business activities effectively are stated below (Lee and Tang, 2017):
Functions of manager:ï‚· Setting benchmarks: This is another responsibility of manager is to frame standards and
provide targets to members to make them perform tasks in proficient manner. Along this,
benchmarks are even used by top personnel to asses capabilities of staff from outcomes
generated by them (Mijumbi and et. al., 2016).ï‚· Planning: Management formulate strategies and program which specifies business
activities that are conducted in system to accomplish objectives within defined time. It is
essential that employees are given duties and guidance from superior, so that quality
products are provided to customers.
Role of leader:ï‚· Coordinating: Leader establishes and maintains relationship with members to anticipate
conflicts and issues which are faced by staff, so that solutions can be provided. Along
this, they even coordinate efforts of staff members to provide items to buyers in respect to
their demands.
6
system in according to market situations. Besides this, they even require to have
employees which are ready to adopt and work in dynamic environment.
Therefore, management of M&S uses system leadership theory which help firm to have
appropriate technologies implemented in store to provide quality products and services to buyers.
Administration make changes in technologies and equipments to deliver different variety of
items to people in according to their preferences. Along this, superior direct and guide members
by providing them information about modifications in system. Thus, employees require to work
proficiently for timely completion of targets.
TASK 3
P4 Key approaches to operations management and their application in organisation
Operations management require to execute business activities effectively. Management
frame strategies and distribute tasks and targets to members to deliver quality products and
services to people. For this, top personnel of M&S have different approaches which require to be
used to get adequate outcomes. These are different approaches which help superior to conduct
business activities effectively are stated below (Lee and Tang, 2017):
Functions of manager:ï‚· Setting benchmarks: This is another responsibility of manager is to frame standards and
provide targets to members to make them perform tasks in proficient manner. Along this,
benchmarks are even used by top personnel to asses capabilities of staff from outcomes
generated by them (Mijumbi and et. al., 2016).ï‚· Planning: Management formulate strategies and program which specifies business
activities that are conducted in system to accomplish objectives within defined time. It is
essential that employees are given duties and guidance from superior, so that quality
products are provided to customers.
Role of leader:ï‚· Coordinating: Leader establishes and maintains relationship with members to anticipate
conflicts and issues which are faced by staff, so that solutions can be provided. Along
this, they even coordinate efforts of staff members to provide items to buyers in respect to
their demands.
6
ï‚· Managing: Leader responsibility is to utilise resources efficiently. For this, guidance and
instruction is given to subordinates to perform tasks effectively.
Total quality management: This concept refers to continuous improvement conducted by
management to detect and reduce errors from production activities. For this, supply chain
management streaming, enhance buyers experience and training employees to deliver quality
products and services to consumers. These are various activities which are conducted by superior
of M&S to provide trendy clothes and quality food items and home appliances to buyers. This
help company to establish strong position and brand value in market in respect to rival firms
(Total Quality Management (TQM), 2018).
Six sigma: This is an efficient approach which helps manager make system function
effectively and overcome firm from errors and damages. DMAIC process helps superior of M&S
to reduce risk of failure by defining benchmarks and targets to each members. Besides this,
measurement and analyse of employees work and their results. This help top personnel to
improve system and control wrong activities. M&S is retailer in which employer have skilled
and competent staff which provide information to buyers about products and influence their
purchase decision.
(Source: Six sigma, 2015)
Just in time: This approach state that firm need to have sufficient funds to have adequate
material and workforce to execute activities effectively. For this, manager construct and keep
7
Illustration 1: Six Sigma
instruction is given to subordinates to perform tasks effectively.
Total quality management: This concept refers to continuous improvement conducted by
management to detect and reduce errors from production activities. For this, supply chain
management streaming, enhance buyers experience and training employees to deliver quality
products and services to consumers. These are various activities which are conducted by superior
of M&S to provide trendy clothes and quality food items and home appliances to buyers. This
help company to establish strong position and brand value in market in respect to rival firms
(Total Quality Management (TQM), 2018).
Six sigma: This is an efficient approach which helps manager make system function
effectively and overcome firm from errors and damages. DMAIC process helps superior of M&S
to reduce risk of failure by defining benchmarks and targets to each members. Besides this,
measurement and analyse of employees work and their results. This help top personnel to
improve system and control wrong activities. M&S is retailer in which employer have skilled
and competent staff which provide information to buyers about products and influence their
purchase decision.
(Source: Six sigma, 2015)
Just in time: This approach state that firm need to have sufficient funds to have adequate
material and workforce to execute activities effectively. For this, manager construct and keep
7
Illustration 1: Six Sigma
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relations with suppliers to protect system from unnecessary stock. M&S need to have products
available in outlet to accomplish requirements of customers. For this, management have good
connection with suppliers and in house facility for apparels. This help firm to utilise funds from
getting wasted in warehousing and transportation (Mitsuo and et. al., 2014).
P5 Importance of operations management to achieve organisation's objectives
Management duty is to provide tasks and targets to employees to conduct business
activities effectively. M&S is retail which provide food items, home appliances and apparels for
men, women and kids. For this, company require to have sufficient products and material in
outlet for providing items to customers and satisfy them. It is essential that manufacturing
process are executed by top personnel to provide variety of products and services to people in
respect to their requirements and need. These are benefits that operations management concept
provide to superior to attain business goals and objectives are stated beneath (Hitt and Duane
Ireland, 2017):ï‚· Quality improvement: Administration of M&S uses six sigma approach which benefits
company to deliver items and services to customers of good quality. For this, superior
design system, measure and analyse employees performance and results, implement
changes in system and control wrong activities which affect on reputation and image of
firm. This help firm to provide quality food items, home appliances and trendy clothes to
buyers.ï‚· Increasing profit: M&S provide quality products to customers which help management
to satisfy buyers and make them loyal towards firm. Company have in-house facility for
apparels which benefit superior to deliver trendy and fashionable clothes to clients. Along
this, top personnel have good relations with suppliers, so that there are adequate products
are available in outlets in according to demands and needs of public (Saucedo-MartÃnez
and et. al., 2017).
ï‚· Enhancing goodwill: Organisation have strong brand value and position, if they provide
quality items and services to customers. For this, management of M&S require to have
skilled workforce and advanced technologies implemented in system to deliver quality
products to buyers to satisfy them and construct clients loyal towards firm.
Apart from this there are some another benefits of operation management which may
contribute in enhancing the profitability level of the company at market place. This will also
8
available in outlet to accomplish requirements of customers. For this, management have good
connection with suppliers and in house facility for apparels. This help firm to utilise funds from
getting wasted in warehousing and transportation (Mitsuo and et. al., 2014).
P5 Importance of operations management to achieve organisation's objectives
Management duty is to provide tasks and targets to employees to conduct business
activities effectively. M&S is retail which provide food items, home appliances and apparels for
men, women and kids. For this, company require to have sufficient products and material in
outlet for providing items to customers and satisfy them. It is essential that manufacturing
process are executed by top personnel to provide variety of products and services to people in
respect to their requirements and need. These are benefits that operations management concept
provide to superior to attain business goals and objectives are stated beneath (Hitt and Duane
Ireland, 2017):ï‚· Quality improvement: Administration of M&S uses six sigma approach which benefits
company to deliver items and services to customers of good quality. For this, superior
design system, measure and analyse employees performance and results, implement
changes in system and control wrong activities which affect on reputation and image of
firm. This help firm to provide quality food items, home appliances and trendy clothes to
buyers.ï‚· Increasing profit: M&S provide quality products to customers which help management
to satisfy buyers and make them loyal towards firm. Company have in-house facility for
apparels which benefit superior to deliver trendy and fashionable clothes to clients. Along
this, top personnel have good relations with suppliers, so that there are adequate products
are available in outlets in according to demands and needs of public (Saucedo-MartÃnez
and et. al., 2017).
ï‚· Enhancing goodwill: Organisation have strong brand value and position, if they provide
quality items and services to customers. For this, management of M&S require to have
skilled workforce and advanced technologies implemented in system to deliver quality
products to buyers to satisfy them and construct clients loyal towards firm.
Apart from this there are some another benefits of operation management which may
contribute in enhancing the profitability level of the company at market place. This will also
8
contribute in establishing positive brand image in customers mind. All these can be understood
by following points:
ï‚· Assets management: In business organization, it is important to manage asset with the
aim of enhancing the chances of attaining positive outcomes. Mainly it is a direction and
systematic process of developing as well as maintaining the assets in cost effective
manner. This will directly contribute in reducing the chances of arising issues in
operation management.
ï‚· Cost management: It is an effective process of planning and managing the budget in
business organization which allow business to predict expenditures. With the help of this
company can easily reduce the chances of over budget and also maintain the profitability
level at market place. It provide insight into both tactical and strategic decision making
which contribute in establishing positive image.
Furthermore, role of operational function is also play a vital role in managing and
controlling all the operational activities in systematic manner. It help company to increase their
market share at market place and at the same time also produce quality products and services:
ï‚· Production: It is an important function through which Marks and Spencer can easily
produce quality products with the purpose of attaining set goals and objectives in market
place. By using this, company can easily improve their efficiency level by attaining set
business objectives.
ï‚· Marketing: This function play important role in promoting products and services in
market place with the purpose of increase awareness towards the products and services.
With the help of this, Marks and Spencer can easily build positive relation with their
customers by providing them quality products and services as per their needs and wants.
ï‚· Finance: Enough fund is one of the important requirement of every department within the
organization. Through which company can easily execute entire activities in most
effective manner. In this context, finance department provide adequate fund to
operational section to effectively execute the activities with the aim of attaining set
business objectives in appropriate time frame.
9
by following points:
ï‚· Assets management: In business organization, it is important to manage asset with the
aim of enhancing the chances of attaining positive outcomes. Mainly it is a direction and
systematic process of developing as well as maintaining the assets in cost effective
manner. This will directly contribute in reducing the chances of arising issues in
operation management.
ï‚· Cost management: It is an effective process of planning and managing the budget in
business organization which allow business to predict expenditures. With the help of this
company can easily reduce the chances of over budget and also maintain the profitability
level at market place. It provide insight into both tactical and strategic decision making
which contribute in establishing positive image.
Furthermore, role of operational function is also play a vital role in managing and
controlling all the operational activities in systematic manner. It help company to increase their
market share at market place and at the same time also produce quality products and services:
ï‚· Production: It is an important function through which Marks and Spencer can easily
produce quality products with the purpose of attaining set goals and objectives in market
place. By using this, company can easily improve their efficiency level by attaining set
business objectives.
ï‚· Marketing: This function play important role in promoting products and services in
market place with the purpose of increase awareness towards the products and services.
With the help of this, Marks and Spencer can easily build positive relation with their
customers by providing them quality products and services as per their needs and wants.
ï‚· Finance: Enough fund is one of the important requirement of every department within the
organization. Through which company can easily execute entire activities in most
effective manner. In this context, finance department provide adequate fund to
operational section to effectively execute the activities with the aim of attaining set
business objectives in appropriate time frame.
9
TASK 4
P6 Assess business environment factors and its impact on decision making
Business environment includes internal and external factors which directly and indirectly
affect on functionality of organisation. It is essential that administration of M&S have accurate
and complete information about market conditions and system capabilities. This help them to
design system and execute business operations to deliver quality products and services to
accomplish demands as well needs of public. Along this, management even require to make
changes in system and strategies in respect to competitors, government, economic and
technology.
Internal factors: M&S is leading retail store which help top personnel to easily get
funding from shareholders who know that they will be able to get good return from firm.
Management have skilled staff which provide quality products and services to buyers. Besides
this, firm has good relations with suppliers to have adequate material and items in store. Thus,
these are different elements which directly affect on business operations and decision-making
process (Fernie and Sparks, 2014).
Organizational culture: It is one of the important aspect of business organization which
includes set of benefits and attitude of employees and management. With the help of this
company can easily take right decision and improve overall performance at market place. Mainly
culture is an effective way to determine that how things are done in a business organization.
Employees: Workers are the major part of the company which support business
organization to execute as well as perform all the activates ion effective manner. Thus company
have to provide better training and development programs to their staff members so that they can
easily perform well and also contribute in taking right decision in company.
Organization structure: Marks and Spencer follow the flat organization structure in which
encourage all the workers to take initiatives in making effective decision making process. This
will help in enhancing the chances of attaining success at market place.
External factors: PEST is appropriate technique which is used by administration to
acknowledge components which indirectly influence on business operations are stated beneath:
Political factor: This factor stated governmental laws and act for controlling and
regulating functioning of firm. It is essential that management of M&S make system function
legally by registering firm and take license from authorities. This also help company to be
10
P6 Assess business environment factors and its impact on decision making
Business environment includes internal and external factors which directly and indirectly
affect on functionality of organisation. It is essential that administration of M&S have accurate
and complete information about market conditions and system capabilities. This help them to
design system and execute business operations to deliver quality products and services to
accomplish demands as well needs of public. Along this, management even require to make
changes in system and strategies in respect to competitors, government, economic and
technology.
Internal factors: M&S is leading retail store which help top personnel to easily get
funding from shareholders who know that they will be able to get good return from firm.
Management have skilled staff which provide quality products and services to buyers. Besides
this, firm has good relations with suppliers to have adequate material and items in store. Thus,
these are different elements which directly affect on business operations and decision-making
process (Fernie and Sparks, 2014).
Organizational culture: It is one of the important aspect of business organization which
includes set of benefits and attitude of employees and management. With the help of this
company can easily take right decision and improve overall performance at market place. Mainly
culture is an effective way to determine that how things are done in a business organization.
Employees: Workers are the major part of the company which support business
organization to execute as well as perform all the activates ion effective manner. Thus company
have to provide better training and development programs to their staff members so that they can
easily perform well and also contribute in taking right decision in company.
Organization structure: Marks and Spencer follow the flat organization structure in which
encourage all the workers to take initiatives in making effective decision making process. This
will help in enhancing the chances of attaining success at market place.
External factors: PEST is appropriate technique which is used by administration to
acknowledge components which indirectly influence on business operations are stated beneath:
Political factor: This factor stated governmental laws and act for controlling and
regulating functioning of firm. It is essential that management of M&S make system function
legally by registering firm and take license from authorities. This also help company to be
10
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protected from misuse and imitate things. Along this, top personnel is even able to establish good
position and image in market in respect to rival brands.
Economic factor: This factor comprises exchange rate, inflation, interest rate, growth and
tax which depend upon conditions prevailing in country. These are various elements which affect
on amount of capital and revenue of firm. M&S is retail store which is conducting business
globally is influenced by exchange rate and taxation policies. In UK, there is inflation which
determine that people have good income to purchase branded and quality products. this benefit
firm to have good customer base to generate large amount of profit from business (Smith, Maull
and CL Ng, 2014).
Social factor: Organisation deliver products and services in market to satisfy people and
fulfil their demands and needs. It is essential that management of M&S conduct market research
to have complete information about choices and requirements of buyers to provide them items
accordingly. Along this, company should provide quality products which are distinct and
differentiated from rival brands.
Technological factor: This tactic defines that administration require to implement
appropriate equipments and tools in system to provide different variety and quality products and
quick services to consumers. M&S is retail store which have in-house store for apparels, so
executive require to use advanced technologies to provide trendy and fashionable clothes to
buyers. Along this, manager even require to use electrical machines to make fast billing to
provide services to buyers quickly (Ravindran, 2016).
RECOMMENDATION
From the above report it has been recommended that M&S have to give authority and
powers to leaders and managers so that they can deliver right kind of value to organisation.
Before going global organisation have to evaluate each and every factor so that proper results
should be accomplish and they can lead in market. The another important factor that is quality
which should be maintained in proper way and organisation have to according to strength to
bring improvements in products and services.
11
position and image in market in respect to rival brands.
Economic factor: This factor comprises exchange rate, inflation, interest rate, growth and
tax which depend upon conditions prevailing in country. These are various elements which affect
on amount of capital and revenue of firm. M&S is retail store which is conducting business
globally is influenced by exchange rate and taxation policies. In UK, there is inflation which
determine that people have good income to purchase branded and quality products. this benefit
firm to have good customer base to generate large amount of profit from business (Smith, Maull
and CL Ng, 2014).
Social factor: Organisation deliver products and services in market to satisfy people and
fulfil their demands and needs. It is essential that management of M&S conduct market research
to have complete information about choices and requirements of buyers to provide them items
accordingly. Along this, company should provide quality products which are distinct and
differentiated from rival brands.
Technological factor: This tactic defines that administration require to implement
appropriate equipments and tools in system to provide different variety and quality products and
quick services to consumers. M&S is retail store which have in-house store for apparels, so
executive require to use advanced technologies to provide trendy and fashionable clothes to
buyers. Along this, manager even require to use electrical machines to make fast billing to
provide services to buyers quickly (Ravindran, 2016).
RECOMMENDATION
From the above report it has been recommended that M&S have to give authority and
powers to leaders and managers so that they can deliver right kind of value to organisation.
Before going global organisation have to evaluate each and every factor so that proper results
should be accomplish and they can lead in market. The another important factor that is quality
which should be maintained in proper way and organisation have to according to strength to
bring improvements in products and services.
11
CONCLUSION
As per assignment, it is concluded that manager carry out activities to attain business
objectives and goals and objectives. It is necessary that resources that are funds, material and
workforce are utilised in efficient manner. Superior's responsibility is to formulate strategies and
direct members to perform tasks effectively. Situational, system, contingency leadership theories
are used by superior to function system in respect to conditions prevailing in market. Six sigma
as well just in time are various approaches of operations management which have benefits and
value in system functionality. They even help manager to provide quality items to buyers.
Internal and external business components are used by top personnel while designing system and
making decision for company.
12
As per assignment, it is concluded that manager carry out activities to attain business
objectives and goals and objectives. It is necessary that resources that are funds, material and
workforce are utilised in efficient manner. Superior's responsibility is to formulate strategies and
direct members to perform tasks effectively. Situational, system, contingency leadership theories
are used by superior to function system in respect to conditions prevailing in market. Six sigma
as well just in time are various approaches of operations management which have benefits and
value in system functionality. They even help manager to provide quality items to buyers.
Internal and external business components are used by top personnel while designing system and
making decision for company.
12
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