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Marks and Spencer Overview and Market Analysis

   

Added on  2020-10-23

15 Pages4635 Words102 Views
Management & Operations
Marks and Spencer Overview and Market Analysis_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Overview of the Mark and Spencer....................................................................................12. Defining manager and leader with comparing their roles and characteristics....................13. Managerial functions and Leadership roles through management theories.......................24. Examples of different situations.........................................................................................45. Management and Leadership theories................................................................................56. Strength and weaknesses of different theories and approaches..........................................67. Conclusion and recommendations......................................................................................6TASK 2............................................................................................................................................71. Operation Management and key approaches......................................................................72. Roles and responsibilities of leaders and managers...........................................................83. Importance of the key approaches to operations management..........................................94. Effectiveness of operation management approaches........................................................105. Impact of external business environment factors on operational management...............106. Application of operations management...........................................................................117. Conclude and suggest recommendations for future improvements.................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONOperations management is core area of any business that is concerned with designing andcontrol overall process of production. It is specific branch or field of an organisation thatconducts all works regarding growth and development of business. This report is based on Marks& Spencer which is situated at London, United Kingdom and sell several branded goods forexample Kellogg's Corn Flakes etc. This report covers details about leader and manager withtheir roles and characteristics and provide differences in between leadership roles and managerialfunctions. It also covers theories related to management and leadership that support growth andsustainable performance of an organisation. Further, it includes major strengths and weaknessesof such approaches or theories and its impacts to the business activities. TASK 11. Overview of the Mark and Spencer.Marks & Spencer, one of major British multinational retailer, headquartered atWestminster City, London, UK. M & S is specialised in retailing of home items, clothing’s, foodand luxury products. Company was incorporated in 1884 by Michael Marks and ThomasSpencer. Across UK, they have about 979 stores from which 615 only sell food items. Marks & Spencer have introduced a flatter, less hierarchical management structure forenabling speedier decision making and for bringing customers closer to their business (About-Mark&Spencer, 2018). New operating committee is established for development and executionof strategy as well as accountable for day to day operations of the business. A simplermanagement structure is been implemented for more focused running of teams and to makeefficient decisions for moving closer to customers. Some roles in organisation are reduced, aspart of retailer's strategy to work more efficiently and simply.2. Defining manager and leader with comparing their roles and characteristicsManager and leader both have a great role to play in any company. Manager is anessential link in between the organisation and its related stakeholders such as customers,workers, suppliers, society, government etc. on the other hand, a leader encourages, inspires andinfluence his or her team members to work willingly (Subramanian and Ramanathan, 2012).Further, manager and leader are defined with their roles and characteristics. These are as follows:1
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Basis of comparisonManagerLeaderObjectivesManager creates goal for anorganization. They focus onmeasuring, setting andattaining goals (Rose andHudgins, 2012).Leaders inspire and engageteam members towards visionof organization. They areresponsible for turning visionsinto reality (Akkerman,Farahani and Grunow, 2010).InnovationManagers stays with plans,structures, systems andprocesses that would work tomake them better.Leaders tries to innovatesomething new and graspchanges in M&S. Risks TakingThey look to control or avoidrisks or problems. They workfor minimize risks.Even if they fail, they arewilling to try new things ortake risks, as they believe itwould lead to success.DecisionMakes decisionFacilitates decisionFocusTheir focus is on proceduresand process.Their focus is on people orteam.StyleThey use transactional style inmanaging work and employeesin Marks & Spencer.They uses Transformationalstyle of management.AimTheir aim is growth anddevelopment of whole team.Their aim is of attainingrequired goals or objectives ofM&S.3. Managerial functions and Leadership roles through management theoriesManagerial Functions:Functions of management derived from Henry Fayol's general principles:Planning: As per Henry Fayol, among five managerial functions deriving a better plan isthe hardest function. It requires active participation of entire organisation (Sheu, 2010).Managers makes various plans regarding operations or tasks performed in M&S.2
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