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Ethical Philosophy and Challenges of Marks & Spencer

   

Added on  2023-06-08

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INTRODUCTION
Business ethics refers to the process of setting the standard of the behaviour, moral,
principles code of conduct and guidance's in the practices of the business. It delivers
assistance in improving the image of the brand in domestic as well as international
marketplace. The present report is based on the Mark and Spencer is one of the leading
public limited company which supply the product and services all over the world. The
report will discuss the ethical values of the company along with the challenges.
REASON OF CONDUCTING BUSINESS ETHICS
Mark and spencer is one of the largest company that offer wide range of product and services to the
customer in order to satisfy them in effective as well as efficient manner. the aim of the
company is to increase the profitability and productivity in domestic as well as international
marketplace. the organisation willing to increase the brand value in different markets to
attract the large numbers of customers and enhance the efficiency of the company. in context
to that the organisation deliver the ethical values in the marketplace. with the assistance of
that the organisation is able to develop better and long term relationship with the customers
and survive and get success in the marketplace. business ethics is renowned as one of the
best strategy and skills for extending the network of the business. similarly the Mark and
spencer is using the ethical values in the organisation for ignoring and avoiding the
negatives implication. For that the organisation is investing huge capital in the business for
adopting more business ethics. With the assistance of business ethics the organisation is able
to maintain the positive culture at workplace. It is driving the effective behaviours of the
employees within the company. for instance with the support of the business ethics the
organisation is able to satisfy the people who are associated with the organisation. due to the
maintaining of the security the organisation is able to motivate the workers for continue
their jobs in the mark and spencer’s. Along with that it encourage the people or the
employees for incensing their capability of contributing their skills and knowledge in the
production. It develop the trust of the person and drive transparency among the people
which basically strengthen the sales of the company. with the assistance of business this the
organisation is able to provide the value and integrity to the public that also responsible for
preventing the association from some severe losses. Apart from that the organisation is able
to deliver the satisfaction solution to the consumer which the individual person face during
obtaining thee services. Due to which the organisation is able to contribute in the corporate
social responsibility and deliver the customer loyalty as well as drive the best customer
experiences. It increase the profit of the company and improve the relationship with the
suppliers or stakeholders. Basically the company follow the code of conduct for boosting
the moral values of the employees. in context to that the association deliver the rewards and
apparition for the quality services to the large numbers of buyers. It is one of the best reason
the company is supplying the product and services all over the world. in general the business
ethics influence the buying behaviour of the individual person.
ETHICAL PHILOSOPHY OF MARK AND SPENCER
the organization is live in bringing the ethical values in effective as well
as efficient manner. The organization delivers the values in order to
satisfy the large numbers of customers and improve their experience with
the company. For delivering the ethical values in the marketplace the
company belies in bringing the innovation in the productivity for the
welfare of the consumer and build the tarts of changing the production as
per the taste and preferences of the consumer. The aim of providing the
ethical values in the marketplace the organization make sure that the
adoption of the plans of action are correct and the association is making
right decision as well as initiatives. In order to deliver morale values to e
large numbers of the customer the organization keep inspiring the variety
of the people with the assistance of different modes of communication or
social media platforms that includes Facebook, Instagram, pint rest,
twitter etc. the main motive of the company us to make the journey f
leading the marketplace is more sustainable and effective in wide areas of
the globe. In order to inspire the employees the manger of the company
provide training and development programme to the workers of the
company. As per the mark and Spencer it is signification to address the
ethical values to the people and address their concern. In context to that
the organization maintain the relationship with the consumer and keep in
touch with the potential customers of the organization. In order to that the
organization listen the concern of the customers on the priority and
resolve their problems in effective as well as efficient manner. With the
assistance of that the organization listen the issues of the customers.
Moreover, the mark and Spencer deliver equal respect to the workers of
the association and treat them as the asset of the company. Due to which
the organization is increasing the contribution of the employees in the
organization. In order to deliver the ethical values in the marketplace the
company use the resources which are environmental; friendly and do not
affectivity the life of the people or the customers. Along with that the
organization deliver the fair wages to the workers in order to deliver core
values of the company that also help in improving the performance of the
individual person. It is one of the major resin the company is
improvisation the image of the company in domestic as well as
international marketplace. For the welfare of the company and following
the codes of ethics along with the rules and regulation of the nation. The
mark and Spencer form the rules and regulation or the audiences of the
company as per the hosting nation or current marketplace.
STAKEHOLDERS OF THE ORGANISATION
A stakeholder will help in achieving the goals of the organization by providing
them with valuable support and resources. So it is important for the company
to maintain them as they play crucial role in success of busies. Moreover,
stakeholders are defining as group of people that are involved in development
and competition of a project. It has vested interest in its results in certain ways
either through financial, career and advancement which impact in growth of
firm effectively. However, now days stakeholders are more interested in social
responsibility and it include groups like local community, trade group and
government.
Furthermore, Mark and spencer has classified their stakeholders in two form
such as internal and external.
The internal shareholders are known as group or person that is linked directly
to business and helps in completing the project on time. It basically involves
employee that are members of project team, manger, line and resource
executives. It also includes top management like CEO, Board of Director and
operating committees as well as outsider contributors. The role of such
stakeholders is to maintain fairness and honesty within the organization as
well as with their customer.
External stakeholders: This group of people are not directly related to
organization and it is involving in project and it impact in some or other way.
This involved people like suppliers, creditors, project customer and product
user group.
Customer: It is one of the most important stakeholder that is directly linked
with the business and helps in increasing the success of organization. In
addition to this, it is crucial because it buy and increasing the sales of firm. To
be successful in today business environment a company may satisfy its
customer as well as be honest and forthright in regular interactions with them.
Employees: Company another stakeholder is employees and it is important
because as they create goods and services issues by the business as well as the
quality of their work has direct impact on customer support. Moreover,
employee in turn benefit the organization through financial support. The duty
of the business is to give the employees safe working environment and to
provide them with job security. On the other hand, role of employees in
maintaining business ethics is to treat their customer with respect.
Government: It is known as secondary stakeholder that is indirectly linked
with company through its collection of taxes from the workers and business.
However, it benefits organization success by contributing in GDP and it
include media and business support groups. The role of company in maintain
ethical standard is to develop and give contribution towards society.
Investor and shareholders: These are also known as primary type that allow in
maintain the financial position of the project by providing accurate funds as
well as it directly impact on the growth of the organization. Along with this,
the role of company is to maintain the business ethics by keeping their data
protected.
Local communities:
There are secondary stakeholder and it benefits the company through job
creation and locally based employees can invest their capital into the
community so to improve their financial stability.
ETHICAL CHALLENGES FACED BY MARK AND SPENCER
the company is facing some of the challenges which is regarding the
ethical values of the company. Ethical issues are something very
important that cannot be avoidable or ignored by the association in
order to survive and get success in the various marketplace. With the
support of ethical issues the organization is able to defeat et
competitors available in the domestic as well as international
marketplace. Racially the ethical values of the company indicate a
way of delivering the competitive advantages in the marketplace and
attract the large numbers of the buyers toward the association to boost
the sales of the company. Ethical values increase the scale of the
growth for the company. In order to lead the marketplace and
accomplish the goals of the company some ethical issues which the
association is facing and working as the barrier for the long term
survival. Ethical values of the company is basically compilation of all
the rules and regulation followed by the company. Some challenges
faced by the company includes health and safety of the people.
During the time of pandemic it was so important to address the issue
in effective as well as efficient manner. The covid19 situation is very
definitive time period for the people as some are facing the issues of
unemployment or closing of the stores that increase the concern for
the job security and stress. For dealing withstood challenges the
organization make sure that the working people of the organization
will be Parmentergate and reduce the work related stress by
organizing the variety of activity for the workers. Along with that the
company should provide all rte medical facilities or the resources
which is important for the precaution from the virus. Along with that
the privacy is the main concern of the organization and consumed as
the biggest challenges for the company. The personal as well as
professional life of the mark and Spencers employees are becoming
deficult and less clear in the association due to the availability of the
advance technology in the marketplace. The company fire the
consolidate for making any kinds of controversial comments on social
media account. Due to that the same people are conscious about their
personal life and spy the information form the organization. In order
to resolve this issue the workers of the association should have
knowledge of the codes and conducts of thee company as well as
determination of right and wrong practices as per the laws and norms
of the company. For avoiding this issue the manger of the organization
need to work on the employees issues and inventive them in the
process of decision-making. Along with that the polices of the
company should be transperson and clear to the workers as well as
buyers of the organization. Apart from that the company can provide
training and development programme to the workers of the
organization and encourage them to follow all the norms and stick to
the ethic values of the company for improving the image of the brand.
REFERENCES
De Bakker, F.G., Rasche, A. and Ponte, S., 2019. Multi-stakeholder initiatives on sustainability: A cross-disciplinary review
and research agenda for business ethics. Business Ethics Quarterly, 29(3), pp.343-383.
Ferrell, O.C., Harrison, D.E., Ferrell, L. and Hair, J.F., 2019. Business ethics, corporate social responsibility, and brand
attitudes: An exploratory study. Journal of Business Research, 95, pp.491-50
Purwanto, and et.al., 2019. Study the importance of business ethics and ethical marketing in digital era. Journal of Critical
Reviews, 6(5), pp.150-15
Islam, G. and Greenwood, M., 2021. Reconnecting to the social in business ethics. Journal of Business Ethics, 170(1), pp.1-4.
Bowie, N.E., 2020. Business Ethics. In New Directions in Ethics (pp. 158-172). Routledge.
Freeman, R.E., 2020, July. Business ethics in the time of covid-19. In 1st International Conference Global Ethics Key of
Sustainability (GEKoS) (pp. 1-13). Editura Lumen, Asociatia Lumen.
Sroka, W. and Szántó, R., 2018. Corporate social responsibility and business ethics in controversial sectors: Analysis of
research results. Journal of Entrepreneurship, Management and Innovation, 14(3), pp.111-126.
Gheraia, Z., Saadaoui, S. and Abdelli, H.A., 2019. Business ethics and corporate social responsibility: bridging the
concepts. Open Journal of Business and Management, 7(04), p.2020
Poster Presentation on Marks & Spencer
CONCLUSION
From the above report it will be concluded that the ethical issues is
one foo the major concern that need to address in an appropriate
manner. The business ethical allow the organization to spread the
effective morale values in the various markets. The Mark and Spencer
has the opportunity to deal with the forthcoming challenges by
resolving the issues and concern of the people associated with the
productivity of the company. The organisation is able to boost the
profit in the marketplace with the support of the ethical values the
company is able to maintain the trust of the people.
Ethical Philosophy and Challenges of Marks & Spencer_1

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