Marks and Spencer: Innovation, Environment, CSR and Business Ethics

BUS3005 SM

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Overview of the company............................................................................................................1
Innovation and strategic innovation.............................................................................................1
Internal and external environment of the company.....................................................................2
CSR, governance and business ethics..........................................................................................5
CONCLUSION................................................................................................................................6
REFERENCE...................................................................................................................................7

INTRODUCTION
This report will discuss about marks and Spenser which is the global company and sells wide
range of products. This report will shed light on innovation and strategic innovation. Further will
evaluate external and internal environment of the company. It will also compare marks and
Spenser with their competitors in terms of CSR, ethics, governance etc.
MAIN BODY
Overview of the company
Marks and Spenser is the global company which is established in Europe. This company falls
in retail sector and having its headquarters at London. The company has also listed on new york
stock exchange (Varadarajan, 2018). They have large product portfolio and manufacture
clothing, footwear, bags, fragrance, accessories etc. they also deals with grocery food items and
sale all range of products which can afford by every income group of people. It is the retail
brand and contribute in the economic development of the country.
They concentrate on innovating timely and that helps them in attaining competitive advantages.
They are the market leaders when it comes to clothing because they never compromise on the
quality of the product. They also have wide customer vase because they provide better customer
service. They have well trained staff which provide good experience to the customers. They also
have team of experts professionals which carry market research and have expertise to study
market trends so that products can be made accordingly.
Innovation and strategic innovation
innovation refers to producing something new which have unique features. Innovation in
today's world is must if company wanted to survive in the market for longer time period.
Strategic innovation in the procedure of redesigning or remaking the company's corporate
strategy so that business can achieve growth. Under this business brings value to their customers
and also build competitive advantage. Such innovation is must needed if the company wanted to
adopt changes in technology easily. Innovation strategy helps company in making innovative
related goals and also helps company so that goals can be attained (Calof, Meissner and
Vishnevskiy, 2020). If compared with the competitor which is Zara then it can said that Zara
only focus on innovating its clothing sector while marks and Spenser focuses on brining
innovation to other product category as well.
Diffusion theory of innovation
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this theory focuses on innovation which is generated by people as they carry different activities.
Diffusion is possible only if the person will adopt new ideas or thoughts in order to generate new
products. It further have five adopter category which are as follows:
innovators: those people fall in this category which are eager enough to try innovation as early
as possible (Roth and et.al., 2020). They have full interest in generating new ideas. They develop
new ideas at the very first time and are always ready to take the risk.
Example marks and Spenser also fall in this category because they are the first to adopt
innovation and bring change. Although they take huge risk but without taking risk no company
can achieve success. As higher risk signifies high growth.
Early adopters: they are the people which always takes change as an opportunities. They enjoy
the role of leadership. They know the importance of change and are ready to adopt new ideas.
They make strategies to bring changes and also implement those strategies.
Early majority: they are not the leaders but they are interested in adopting new ideas when
compared with average people (Dogan, 2017). They adopt innovation only if the other party has
received any benefit by adopting that innovation. After seeing the success story of innovation
they adopt it.
Late majority: they are those people which will adopt change but only after the majority of
people have already adopted it and the innovation is tried and tested properly. In order to review
the success of adoption they see effectiveness of adopting innovation.
Laggards: they are the conservative people. They are very much skeptical and are normally
hard to convince to adopt changes. They have fear to accept change and bring innovation.
Internal and external environment of the company
it will be analysed by using models which is swot and pestle analysis.
SWOT
strength-
the biggest strength of the company is that they adopt change easily and quickly that is why they
have made strong e-commerce infrastructure. As they have idea that the modern era is
surrounded by e commerce only because people have started doing online shopping and e-
commerce have become part of their daily life. So that is why they have established their brand
on various e commerce platforms. They adopt latest industry trends so that they cannot
disappoint their customers (Chen, Yin and Mei, 2018). They always concentrate on improving
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