Impact of E-commerce Strategies on Performance Management in Retail Sector: A Study on Marks and Spencer
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This study evaluates the impact of e-commerce strategies on performance management in the retail sector, focusing on Marks and Spencer. It examines the concept of e-commerce, its importance in the retail sector, and the impact on performance management. The study also recommends effective e-commerce strategies for improved growth and success.
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Table of Contents Research Title: To evaluate the impact on performance management of a business due to the implementation of e-commerce strategies in the retail sector of the UK. A study on Marks and Spencer.............................................................................................................................................1 Background to Research Topic........................................................................................................1 Background to Research Organisation.............................................................................................1 Research Rationale...........................................................................................................................1 Research Aims and Objectives........................................................................................................2 Research aim..........................................................................................................................2 Research objectives................................................................................................................2 Research Question(s).......................................................................................................................2 Research Methodology....................................................................................................................2 The research philosophy.........................................................................................................3 Research Approach.................................................................................................................3 The Research design...............................................................................................................3 Choice of research method.....................................................................................................3 Research Strategy...................................................................................................................4 Access and Ethical Issues.......................................................................................................4 Sample Selection....................................................................................................................4 Data Collection and Data Analysis Techniques.....................................................................4 Timescale.........................................................................................................................................5 Resources.........................................................................................................................................5 References........................................................................................................................................5 2
Research Title: To evaluate the impact on performance management of a business due to the implementation of e-commerce strategies in the retail sector of the UK. A study on Marks and Spencer. Background to Research Topic E-commerce is mainly related with the buying and selling of goods and services through making use of some electric network of online platform which mainly consist use of internet. E- commerce has enhanced the productivity and inflation level for a firm by leading improved expansion opportunity and more effective and convenient way to get in touch with customers (Kremez and et. al., 2019). Therefore, current study is conducted on Marks and spencer company to evaluate the impact on performance management of a business due to the implementation of e- commerce strategies in the retail sector of the UK. Background to Research Organisation The organisation selected for current research project is Marks and Spencer which is a major British multinational retailer. The main headquarters of Marks and Spencer is located at London, England and this company was founded by a partnership between Michael Marks, a Polish Jew in the early 1880s. Marks and Spencer is having specialisation in selling clothing, home products and food products which are mostly of its own label. Beside this, M&S currently has 959 stores across the UK, including 615 that only sell food products which is presenting that its product is highly in demand and there is scope of its further expansion(Yu, and et. al., 2017). Thus, making efficient use of e-commerce strategies are vital and significant for Marks and Spencer to have improved performance management within UK. Research Rationale The selection of current research topic is rationale as e- commerce has become a vital concept which offers a more convenient and cost efficient way to connect and interact with customers through making use of online channel. Further, e-commerce is also significant to have 3
enhanced the scope of productivity and higher sales through providing a more convenient way and platform for buying and selling of products. Beside this, current study is also vital to analysis the significance and impact of e commerce on the performance management of a firm along with analysis of e-commerce strategies that can be adopted to have better performance management. Further, current topic is also important from personal view point of researcher as it meet the academic and educational purpose along with ensuring improved skills and competencies for scholars and researchers. Research Aims and Objectives Research aim “Toevaluateabouttheconceptofe-commercealongwithanalysingimpactof implementation of e-commerce strategies on the performance management of a business within the retail sector of UK”. An investigation on Marks and spencer. Research objectives To review about the concept of e-commerce along with it emerging need and importance within retail sector of UK To determine about the impact on performance management of a business due to the implementation of e-commerce strategies in the retail sector of the UK. To recommend some effective and latest e-commerce strategies that can be adopted by Marks and spencer to have better performance management in order to ensure improved growth and success. Research Question(s) What is meant by the concept of e-commerce along with reviewing the emerging need and importance ecommerce within retail sector of UK? What possible impact on performance management of a business is lead out due to the implementation of e-commerce strategies in the retail sector of the UK? Which can be the some effective and latest e-commerce strategies that can be adopted by Marks and spencer to have better performance management in order to ensure improved growth and success? 4
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Research Methodology This section forms a vital part of every research project that provides information about proposed method which are utilised to conduct an investigation(Li, M., and et. al., 2020). The research methods and approaches which would be applied and used for conducting current investigation on Marks and spencer are provided below together with valid justification for their selection: The research philosophy Therearefourcommontypesofresearchphilosophywhichconsistsofpositivism, interpretivism, realism and pragmatism from which one is selected to carry out an investigation as per the nature of research topic. In context to current investigation which is based on analysing impact of e- commerce on the performance management of a business, use of positivism philosophy is proposed which would be used to conduct current investigation(Song, and et. al., 2021). The reason and justification behind selecting positivism philosophy is based on the fact that it supports objective nature of study which ensures enhanced efficiency along with better analysis and evaluation of collected facts through leading a more systematic and practical way of study. Research Approach Deductive and inductive forms out to be the two most commonly used approaches for conducting a study out of which application of deductive approach is more appropriate for current investigation. Use of deductive approach is proposed for current study as it is totally in line with positivism philosophy and support effective scanning and testing of numeric facts to ensure a more specific set of results. The Research design Selection of appropriate research design is important as it states and provide the overall framework of the study through lining and connecting all components in a logical and coherent way.Descriptive,Correlational,Causal-Comparative/Quasi-Experimental,andExperimental Research are four main types of research design out of which utilisation of descriptive research design is proposed for current study on Marks and spencer(Dhir and Dhir, 2018). The justification for use of descriptive research design for current investigation is based on the fact 5
that it provides and support a systematic and accurate way to describe a population along with facilitating better analysis of a situation and phenomena for effective research results. Choice of research method There are two main methodological choices which are available while conducting an investigation which consists of qualitative and quantitative research method out of which qualitative comprises of detailed form of investigation which is complex and time consuming. Thus, with respect to current investigation, use of quantitative method of research would be made as it ensures and leads out to easy collection of data in numeric terms. Beside this, the main reason and justification behind making use of quantitative form of research method is based on the fact that it supports collection of numeric and statistical fact that can be effectively resented with the help of charts and table therefore, ensures better understanding and measurable from of research results to effectively achieve and accomplish set objectives(He, Zhang and He, 2019). Research Strategy It forms a vital part of every investigation which provides a base for an investigation through stating about the tools and techniques applied for collection and analysis of data. Action research, surrey, case study, observation, interview, experiments, etc. forms out to be main forms of research strategy out of which selection of survey strategy is made for current investigation. Use of survey strategy ensures more easy and efficient form of data collection from a larger population in most cost and time effective manner through making use of a questionnaire (Janjevic and Winkenbach, 2020). Access and Ethical Issues In order to ensures proper academic and ethical practises, the access to collected data is only given to the researcher and tutor to maintain the privacy and meet the purpose of conducting formal research. Further, to overcome and mitigate the other possible ethical issues regarding the authenticity and reliability of collected data, implication of BERA code of ethics is also made. Beside this, utilisation of provisions of data protection act is also made to meet the set ethical consideration along with ensuring the security and privacy of collected facts. Sample Selection For current investigation, use of random sampling method is made for selection of 45 participants from the employees of Marks and spencer. 6
Data Collection and Data Analysis Techniques There are two main sources and origin of data from where data can be collected which consists of primary and secondary sources of data collection. To ensures adequate amount of data and facts for current investigation, use of both primary and secondary sources of data is made. Primary collection of data is justifiable as it provides first hand and authentic form of data whereas use of secondary data is also appropriate as it ensures a base and framework for study through providing knowledge about past facts and records(Qin, Liu and Tian, 2021). Collection of primary data would be made through use of a questionnaire while secondary data would be gathered from online articles and journals. Finally, analysis of primary data would be made with the help of pie charts and frequency table whereas secondary data would be analysis with the help of systematic literature review. Timescale Following Gantt chart is presenting timescale for current investigation: 7
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Resources The main resources which are applied for current study comprises of financial resources to meet the expenses of data collection, cost of transportation and other material used. Further, human resources are also utilised to perform various research activity along with for better collection of data. At last, technical resources like laptop, USB, e-library, smart phones etc. are also used for better collection and recording of data. References Adivar,B.,HĂĽseyinoÄźlu,I.Ă–.Y.andChristopher,M.,2019.Aquantitativeperformance managementframework for assessing omnichannelretailsupply chains.Journal of Retailing and Consumer Services,48, pp.257-269. 8
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retail.International Journal of Management Concepts and Philosophy,11(2), pp.190- 218. Song,Y.,andet.al.,2021.Thedigitaltransformationofatraditionalmarketintoan entrepreneurial ecosystem.Review of Managerial Science, pp.1-24. Sousa, P. and et. al., 2021. Challenges, Opportunities, and Lessons Learned: Sustainability in Brazilian Omnichannel Retail. Sustainability 2021, 13, 666. Yu,Y.,andet.al.,2017.E-commercelogisticsinsupplychainmanagement.Industrial Management & Data Systems. 10