Analysis of Key Drivers for Organisational Changes in Marks and Spencer

This report analyses the key drivers for organisational changes in Marks and Spencer through a STEEPLE analysis. It also identifies socio-cultural and socio-economic factors that impact HRM interventions and evaluates stakeholder interests. Recommendations are provided for HRM activities to enhance business practices.

Case study

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Complete a STEEPLE analysis establishing key drivers for any organisational changes..........1
Identify 3 socio-cultural and 3 socio- economic factors from the analysis which impact on the
choice of HRM interventions.......................................................................................................3
Critically evaluate stakeholder interest and make recommendations about how HRM activities
.....................................................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Human resource can be describe as one of the most crucial and essential part of business that
helps in conducting different task in appropriate manner. it is important that company is
considering right and accurate practices of business so that it is able to attain desired goals
(Greer, 2021). This report is based on Marks and Spencer company. This is a public limited
company that is performing its business practices in retail market area. Marks and Spencer
company was developed in year1884 and founder of this organisation is Michael Marks and
Thomas Spencer. This company is providing high quality products and services to world wide
market area and its head office is located at London, England, UK. This report includes analysis
of key drivers of any organisational changes. In this socio cultural and socio economic factors
has been analysed which will impact on HRM interventions. Apart from this, stakeholders
interest has been analysed along with the recommendation about different HRM activities that
will assist company to enhance business practices.
MAIN BODY
Complete a STEEPLE analysis establishing key drivers for any organisational changes.
STEEPLE analysis can be describe as the proper planning process that will assist
organisation to make required changes. It is essential that company is considering different
factors that affect performance and functioning of business. STEEPLE analysis refer as the
social, technological, economic, environmental, political, legal and ethical. All of these factors
will lead to have major impact on overall performance of Marks and Spencer company.
STEEPLE analysis is an organizing device for advertising systems. STEEPLE is a high level
investigation as it estimates the enormous scope ecological external components. It offers proper
outline of various external fields. STEEPLE examination is utilized to check the authenticity and
sensibility of the superseding of business targets and methodologies. Any certain component
should be changed over into an action plan that will depict how to diminish the expected risks.
This investigation is extremely powerful and should be applied while noticing, accumulating and
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announcing the monetary game plan of an organization. STEEPLE analysis is context of Marks
and Spencer company in order to determine key drivers which is affecting organisational
changes is mention below –
 Social – This includes social segment that consist of cultural changes as well as market
factors that needs to be taken into consideration in order to improve business practices.
This includes consumer, age structure, lifestyle changes, competition, education level and
so on. It is important for Marks and Spencer company to develop products and services
which is relevant to the social factors of the market area (Berman, and et.al 2021). This
organisational changes will lead to have positive impact on business as well as lead to
enhance overall performance level of organisation.
 Technological – This consist of the new and advance technology that will lead to have
positive impact on effective and efficient performance of business. It is essential that
Marks and Spencer company is considering innovative technology to perform its task and
practices as this will positive affect organisational. It has been determined that
technology is the key driver for organisational changes as this will lead to influence
business practices and affect organisational capabilities.
 Economic – This consist of the economic situation of the country in which organisation is
performing its practices. It is essential that Marks and Spencer company is considering
economic factors such as inflation level, unemployment, international trade, ate of growth
and so on in order to perform business practices. It has been determine that changes in
economic factors will lead to affect the performance of respective company. due to
increase in unemployment rates, purchasing capabilities of customers decrease and this
will lead to lower the sales of business.
 Environmental – This factor of external business environment is majorly associated with
the agricultural sector (Anwar and Abdullah, 2021). This consist of different aspects or
legislations related to protection of environment, management of wastes, disposal, water
and air pollution and so on. It is important that Marks and Spencer company is
considering this factor in order to enhance and improve organisational practices. this will
lead to affect organisational task of business and respective company need to make
changes as per the consideration of environmental factors.
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 Political – There are different types of government rules and regulations that will lead to
affect business performance as well as influence organisational practices. Political factor
includes taxation policies, employment laws, regulations, trade and tariffs and so on. All
of these aspects will lead to have significant influence over overall performance of
business. it is essential that Marks and Spencer company is conducting organisational
change as per the changes in political factors or government rules.
 Legal – This consist of different legal aspects which needs to be consider by organisation
while performing and conducting business practices. it is essential that Marks and
Spencer company is considering different laws and legislations while performing
business activities. It has been determined that it is crucial that respective company is
following all rules and legal regulations in order to successfully ensure complete
compliance. This includes minority protection act, competition law, legal restraints and
regulations along with the health and safety of its employees.
 Ethical – This includes moral and ethical values which needs to be consider by
organisation while performing and conducting business practices. It is essential that
respective company is considering all ethical factor in order to conduct organisational
changes in appropriate and accurate manner. Through this respective organisation will be
able to consider value of culture, morality, integrity as well as behaviour of employees
towards the society (Collins, 2021). This will lead to influence functioning of business as
well as accurately implementing organisational changes.
Identify 3 socio-cultural and 3 socio- economic factors from the analysis which impact on the
choice of HRM interventions.
It has been analysed that Marks and Spencer company needs to consider different socio
cultural and socio economic factors while conducting HRM interventions is proper and effective
manner. There are different socio cultural and socio economic factors which will lead to have
significant impact over business practices as well as influence its functions. It is important that
respective organisation is focusing on performing HRM interventions with the consideration of
socio cultural and socio economic factors. These factors in context of Marks and Spencer
company is mention below –
Socio cultural factors – This can be describe as the factors which are associated with the social
and cultural factors. it has been determined that social and culture of the market area in which
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Marks and Spencer is conducting practices will lead to have significant influence on its
performance as well as affect the way of conducting business practices.
 Culture – This is refer as the culture considering beliefs, attitude and perception of
customers that will affect business decision making. These components emerge and are
identified with the beliefs and behaviour of individuals. Structure worldwide or
multinational companies viewpoint, a culture of each foreign country through its
components influences their business activities. It is essential that Marks and Spencer
company is considering culture of the market are while conducting business practices.
 Attitude of society towards business – It is important that Marks and Spencer company is
conducting different HRM practices such as corporate social activities that will assist in
developing positive image in customer mind set (Wilkinson and Dundon, 2021). The
social and government attitudes towards foreign business, particularly towards foreign
companies and their items, are one of the social factors that might altogether affect the
presentation of global companies. It has been determined that HRM interventions will
help respective organisation to create positive attitude of society.
 Level of education – HRM function of Marks and Spencer company is responsible for
providing right job and role to its employees according to the level of education.
Education fundamentally influences the way of life of a populace of any country on the
planet, the method of their reasoning, their attitude toward work, and so on. The degree
of education fluctuates among nations. This socio cultural practices will tend to have
major impact over HRM interventions as well as affect business practices.
Socio economic – This is a particular part of economics that includes concept about
concentrating on the close connection among economics and social behaviour. social economics
tries to foresee different sort of results to anticipate when the society has been changed. It does
this by concentrating on politics, history and other social sciences (Collings and et.al., 2021).
These are factors that influence the behaviour of a specific gathering, otherwise called a
socioeconomic class. Maybe the most interesting behavior of individuals from a socioeconomic
class is their behavior as consumers.
 Interest rate – It has been determined that interest rate of economic factor will lead to
affect the overall functioning level of business and due to this respective organisation will
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be conducting different task. Interest rate means by which they decide their loaning
rehearses. It is additionally great data for a company that depends on obligation cash-flow
to finance driven projects.
 Recession – This is refer as factor that economy faces a recession, it can possibly change
the attitude taken by shoppers toward their buying decisions. It has been identified that
recession will lead to have major influence on business performance and practices. so it is
crucial that company is taking right HRM interventions in order to enhance overall
performance of business.
 Exchange rate - Exchange rates are a significant element to consider for any business
engaged with importation and exportation of different products. At the point when
exchange rates fluctuate, they influence the capacity of a company to pay its worldwide
providers in an acceptable manner. It is important for Marks and Spencer company to
consider exchange rate while performing and conducting business practices in
appropriate and significant manner.
Critically evaluate stakeholder interest and make recommendations about how HRM activities
Stakeholder interest can be describe as the attention of different stakeholders into various
task and practices of business. It is essential that Marks and Spencer company is focusing on
stakeholder interest while conducting different task and practices of business. This will lead to
have major impact on successful and effective functioning of business (Flynn, Valentine and
Meglich, 2021). Through stakeholder interest respective organisation will be able to perform
business performance accordingly as well as carry out organisational activities in significant and
effective manner. Stakeholder interest matrix is mention below in detail –
 Key satisfied – This consist of the stakeholders who have high power but low interest in
business practices. This consist of government or legal authority people that have power
the affect the decisions of Marks and Spencer company but they have not much interested
in business activities.
 Manage closely – Stakeholders who are included in this have high interest along with the
high power to affect business practices. This consist of people such as business owner,
CEO and so on that have power to influence organisational activities as well as directly
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influence decision making practices of organisation They have high interest in
organisational practices in order to overall increase performance of business.
 Monitor – This includes individual who have minimum efforts in organisation. This
consist of different people who have low interest as well as low power to influence
business practices. This consist of people media groups, non profit organisational groups
and so on who only monitor business practices of Marks and Spencer organisation.
 Keep informed – This consist of all those individual or stakeholders of business that have
high level of interest in organisation but low power to influence business practices. It is
essential that respective company is provided required information to those stakeholders
in order to enhance and improve business practices.
There are different recommendations for Marks and Spencer company that needs to be
consider in order to enhance HRM practices. This will lead to have major impact on overall
performance and capabilities of business. Human resource management activities will help in
successfully conducting business practices as well as help organisation move forward without
conflict, integrating data to inform choices as to that are most effective to specific person,
organisational as well as external conditions. Different recommendations are mention below in
detail –
 Security to employees – It is significant that HRM function of Marks and Spencer
organisation is focusing on providing security to its employees. This will lead to have
major positive impact on developing strong relationship with customers. The first Human
Resource best activities is employment safety. Life is unusual and work is a steady
component that is vital to the vast majority (Flynn, Valentine and Meglich, 2021). It has
been determined having a company who empowers the employee to provide lodgings
themselves as well as their family is, generally, the major justification for why people
come to work. Security to employees will lead to improve business performance as well
effective functioning.
 Develop effective team – Teams offer different benefits since include of people who are,
as well as think differently however are running after a shared objective. So it has been
determined that team development is effective practice of business that will help in
increasing performance of business. This suggests that different musings are produced to
help with achieving the goal. These musings are then dealt with and joined, achieving the
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best ones being selected. It is recommended that HRM function of Marks and Spencer
company is conducting proper team development practices in order to develop strong and
better relationships. By developing effective and efficient team respective organisation
will be able to deal with different business issues as well as enhance performance of
business.
 Training of employees – It has been determined that training of employees is very
important as this will lead to enhance and improve overall performance level of business.
Training can be describe as the practices of business that helps in improving capability
and potential of employees to conduct required set of task in appropriate manner.
Evaluating the key requirement for training is obligatory for an organisation such as
Marks and Spencer. It's additionally useful for saving money on plentiful training costs
associated with the workforce. Through the support of training of employees respective
organisation will be able to encourage its employees to attain desired goals. The
execution of the training and advancement is a need as a result of its effect on the
contribution of progress management in the business processes.
CONCLUSION
From the above report it could be concluded that there are different aspects of human resource
management which needs to be consider by organisation in order to successfully and effectively
conducting business practices. This will lead to have positive impact on overall performance of
organisation to attain desired goals. STEEPLE analysis refer as the social, technological,
economic, environmental, political, legal and ethical. There are different socio cultural and socio
economic factors which will lead to have significant impact over business practices as well as
influence its functions. Human resource management activities will help in successfully
conducting business practices.
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REFERENCES
Books and Journals
Greer, C.R., 2021. Strategic human resource management. Pearson Custom Publishing.
Berman, E.M., Bowman, J.S., West, J.P. and Van Wart, M.R., 2021. Human resource
management in public service: Paradoxes, processes, and problems. CQ Press.
Anwar, G. and Abdullah, N.N., 2021. The impact of Human resource management practice on
Organizational performance. International journal of Engineering, Business and Management
(IJEBM), 5.
Collins, C.J., 2021. Expanding the resource based view model of strategic human resource
management. The International Journal of Human Resource Management, 32(2), pp.331-358.
Wilkinson, A. and Dundon, T. eds., 2021. Contemporary human resource management: text and
cases. SAGE.
Collings, D.G and et.al., 2021. Strategic human resource management and COVID‐19: Emerging
challenges and research opportunities. Journal of Management Studies.
Flynn, W.J., Valentine, S.R. and Meglich, P., 2021. Healthcare human resource management.
Cengage Learning.
Liu, P., Qingqing, W. and Liu, W., 2021. Enterprise human resource management platform based
on FPGA and data mining. Microprocessors and Microsystems, 80, p.103330.
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