Corporate strategy issue faced by organisation in operating as “Digital First” retailer. A study on Marks and Spencer
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This document discusses the corporate strategy issue faced by Marks and Spencer in operating as a digital-first retailer. It explores the challenges faced, the differences in working due to the digital platform, and provides recommendations for improving operations with the use of digital techniques.
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Table of Contents TITLE.............................................................................................................................................1 INTRODUCTION..........................................................................................................................1 LITERATURE REVIEW................................................................................................................3 To acquire the knowledge about corporate strategy issue..........................................................3 Challenge faced in operating as “Digital First” retailer in industry............................................3 To study difference in working of Marks and Spencer due to digital platform..........................4 Recommend some ways through which operations can be improved with use of digital techniques....................................................................................................................................5 DISCUSSION OF THE PRIMARY AND SECONDARY RESERACH......................................7 CRITICAL REVIEW OF RESULTS...........................................................................................11 RECOMMENDATION AND ACTION PLAN...........................................................................21 CONCLUSION.............................................................................................................................22 REFERENCES..............................................................................................................................23 .......................................................................................................................................................23 APPENDIX...................................................................................................................................24
TITLE Corporate strategy issue faced by organisation in operating as “Digital First” retailer. A study on Marks and Spencer. INTRODUCTION Background of the topic Corporate strategy encompasses an organisation's corporate actions with the purpose to attain company objectives and goals while accomplishing a competitive benefit. For this project M&S is a chosen organisation that faced issue in operating Digital-first retail. It is a main issue that arise due to improper utilisation of corporate strategy. This issue negatively impact on business sales and also on growth (Khan, Serafeim and Yoon, 2016). Along with this, there are number of challenges which is faced by company in becoming Digital-first Retailer such as reductioninsales,internettraffickingetc.Thereisover1millionretailestablishments’ crossways the United States, andretailsales have grown around 4% annually since 2010. Therefore proper utilisation of corporate strategy is important and essential for the success and growth of M&S. Research aim To investigation about the corporate strategy issue faced by organisation in operating as “Digital First” retailer. A study on Marks and Spencer. Research objectives To acquire the knowledge about corporate strategy issue. To determine the challenge faced in operating as “Digital First” retailer in industry. To study difference in working of Marks and Spencer due to digital platform.Recommend some ways through which operations can be improved with use of digital techniques. Research Questions What do you understand about corporate strategy issue? What are the challenge faced in operating as “Digital First” retailer in industry? What is the difference in working of Marks and Spencer due to digital platform? Mention some ways through which operations can be improved with use of digital techniques? 1
Problem statement One of the main problem that are faced by M&S such as operating of Digital-first in their organisation. This is a main issue that negatively and directly impact on business sales and development. There are certain reasons for increasing this issue in the organisation such as supply chain issue, inadequate technological competencies and underperformance in clothing and home. These are biggest reasons that impact on company while operating Digital-first. To operating business in Digital First, Marks & Spencer face issues in declining market, this underperformed in home and clothing where the revenue was reduced by 7.8% by 5.5% on like for the like basis (Rahman, Rodríguez-Serrano and Lambkin, 2017). This company experienced the availability challenges across sales channels as result of issues of supply chain. Other than this, there are some structural issues faced by Marks & Spencer to address and taking the steps to fixing these. 2
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LITERATURE REVIEW It is a review of article and it scholarly paper that contains current knowledge including analytical findings as well as theoretical contribution to a particular subject field. The purpose of conducting the literature review for gaining positive understanding of the existing research and debates relevant to the particular field of study. To collect information in this area, secondary sources of data collection will be used with different sources such as articles, books, internet and many others. To acquire the knowledge about corporate strategy issue On the basis of Vicki A. Benge (2019) Corporate strategy refers to corporate actions of company with a goal to attain organisational objectives while accomplishing competitive benefit. It entails clearly defined and the long term vision that set organisation, motivate workforce and develop corporate value to execute actions effectively to attain customer satisfaction. Corporate strategyiscontinuousprocessthatneedseffortstoengagetheinvestorsintrustingan organisation with money to enhancing organisational equality. Organizations which manage in providing unfailing consumer satisfaction are those that periodically review their corporate strategy to strengthen areas that may not produce the expected outcomes. Corporate strategy is the organization's highest strategic plan that determines the overall organizational priorities and objectives, and how strategic management tasks are to be accomplished. Other than this, Corporate strategy uses the portfolio approach to making strategic decisions through looking across business to identify how to develop value. When developing the strategies to carried out the regular activities, administrators will be able to understand and evaluate improvements quickly. If the business operations are not conducted properly in a specified format, instead issues arise and priorities and objectives are not set. There will also be effect on the business operations with modifications in business policies and strategies. In regards to this, there is more change in the business operations because employees are not take initiatives in a proper manner. For managing the issues, it is necessary for the management for focus on develop effective policies. Challenge faced in operating as “Digital First” retailer in industry On the basis of Elly Yates-Roberts (2015), Marks & Spencer is sparking digital first retail experience. It is working with the Microsoft to adopt and execute latest technology and also 3
become digital first business. In context to Digital First Strategy, consumers want to be purchase from brands which understand them. The brands which strive to be learn regarding preferences and lack of the data first strategy makes it near impossible. In this, capitalise on information gathered by application visits and websites help in develop personalised marketing. Marks & Spencer company is making the efforts to use AI. British homeware, food retailer and clothing is executing Microsoft technology for an instance computer vision and machine learning across the touchpoints. Under this, there are some issues faced by Marks & Spencer in operating as Digital First. Due to changes in online trading, major issues faced are decline in revenue. Despite shifts in online activities, customers face shopping problem due to website trafficking. When people are unable to give a proper response using the site, then in this case there are some possibilities that could switch to another brands. To study difference in working of Marks and Spencer due to digital platform On the basis of Ben Sillitoe (2020) this has been stated that Marks & Spencer company is gearing for the digital first future with appointment of first data officer and chief digital. Due to the digital platform, there are some differences in working of the Marks & Spencer. In regards to digital transform, there will also be an effect on the operational efficiency of the work force with shifts in business activities. When business activities change, company have to identify the policies with which to enforce them easily. Training and development sessions are also required for Marks and Spencer employees so that they can come up with new innovation. Other than this, Operations can be done efficiently and effectively because managers are able to communicate with staff regularly and acquire knowledge about what consumer demand is. On the other hand, Marks & Spencer company bridges gap among new and old IT with the hybrid cloud strategy. It has launched innovative digital services such as chatbot and “Try Tuesday” because this is personal styling service for consumers to have the clothing hand-picked. This company is gearingfor digitalfirstfuture with appointmentof thefirst chiefdataofficer.Through implementing the digital first, market share of Marks & Spencer company grows, change in the digital behaviour, culture and mindset. In relation to this, online revenue of this company for 26 weeks to enhanced by 0.2%. This attributes sluggish performance to the problems with proper availability as well as product mix in online market. On the basis of Marks & Spencer that traffic to website at the time of period grew through 8% per year, reflecting the strong development in the mobile traffic. The main change that arise after implementing digital first is focus on 4
personalisation and enhanced search. For this, company launches pay-by- instalments facility with the Clearpay. In the retail sector, Buy-now-pay-later services gaining more popularity and with the help of this Marks & Spencer provide array option for consumers at checkout. Marks & Spencer announced new Technology Information Programme that enable to become the digital first business and also improving the customer experience. This is mainly designed to develop commercial technology, agile and fast function that helps in enhance growth. In regards to this, creation of the new technology operational model will drive the significant efficiencies and exploits the new technology consisting adoption of the agile methods. Marks & Spencer transforming its customers, shareholders and collogues through providing the digital first retailing on offices and stores. Technology plays necessary role in transformation and having right model to enable more responsive, agile and flexible. Recommendsomewaysthroughwhichoperationscanbeimprovedwithuseofdigital techniques According to Damian Jolly (2020) Organisations trying to be gain the visibility into operations has grappled with not able to act on on data to make improvement in performance. Digital transformation technologies have potential to provide businesses agility, competitive benefit and transparency. Marks & Spencer company accelerated the change to provide better services for consumers which are increasingly the online shopping. There is a need for changes in business activities and the operations to incorporate digital technology inenterprise and this will easier for the managers to carried out the business activities. Planning is required with which technology can be properly enforced and attaining the specific target effectively. To reduce the negative impact of digital technology, there are some of the effective ways for an instance make business operations simple, solving small problems, daily performance assessment etc. Such techniques help to achieve positive results, because it is a better way to assess and examine what can be perform in a better. Other than this, there is a need to executing the different digital techniques for an instance multi-cloud adoption, Artificial intelligence and others. Most of the business entities such as Marks and Spencer have a main objective of making improvement in the efficiency of executing operational activities. For this purpose, management of companies make sure that they have sufficient number of personnel and equipments to carry out operations. Now a days, the main element which is focused by enterprises is digital technology which reduces complexities in the operations. With the help of it, innovative ways 5
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are figured out by entities to alter the way of their work. It is also beneficial for the attainment of competitive advantage in the industry because digital first help Marks and Spencer to facilitate customers to place order and make payment easily. There are various types of operations which could be improved with the help of it. These are communication, customer service, project management etc. Digital first leads organisation towards automation in which all the operations are performed in systematic manner without human interference. There are several other ways in which it can improve the way in which operations are executed. For example, using kiosks and chatbots can help online and in store customers to get detailed information of the product which is required by them. Digital transformation is the integration of virtual generation into all regions of a business, fundamentally changing how you use and supply fee to customers. It's also a cultural alternate that requires groups to continually venture the status quo, test, and get relaxed with failure. This in effective model for M&S in delivering of digital first. This will be beneficial and essential for the growth and success of company at marketplace. 6
DISCUSSION OF THE PRIMARY AND SECONDARY RESERACH Research refers as a detailed investigation into a particular issue, concern or problem by using the scientific method. There are usually two types of research which are primary research and secondary research. Current study is based on both types of research which will be useful for investigator in gathering of primary and secondary data (Flick, 2015). For gathering primary data,questionnairereferstothebestinstrumentthatwillbegoingtousedwithinan investigation. As it is beneficial for investigator in collecting of valid and repeatable information about the corporate strategy issue that was faced by M&S. On the other hand, secondary is another type of research and for collecting secondary data, there is need of some sources including books, articles, magazines, publication research etc. Thus, primary and secondary research will be used for collecting information about the selected topic. Apart from this, there are also need of some methods for conducting primary and secondary research which will be determined as below: Secondary data:There are different methods used for collecting secondary information about the topic. These sources are magazines, books, articles, newspaper, company’s website etc. All these ar3e considering main sources of collecting secondary data for literature review. These sources will be useful for researcher in collection and analysing of secondary and detailed information regarding the topic. Research Approach:This is commonly used aspect in research methodology; therefore there are two approaches of research which are based on investigation type such as approach to inductive and deductive analysis. In conducting present investigation, deductive approach has been used because in this new theories are established and data have been collected in an effective manner(Gioia, Corley and Hamilton, 2013). This approach is based on quantitative method and theory will be used in developing hypotheses. Research Philosophy:This applies to belief as to how information and data are gathered, processed and used. For an investigator, it is necessary to choose correct or effective theory so that it can provide the better conclusion(Green, Camilli and Elmore, 2012). Interpretivism and positivism are two different research philosophies. Among both the philosophies, researcher will use positivism philosophy because it helps in analyse the collected information in an effective or systematic manner. 7
Data source:It is a fundamental aspect of the research project, since all the study activities are based on the knowledge and data that the researcher has collected. There are two specific types of data collection methods including primary and secondary data collection source for carrying out an investigation work. Through using the primary method, fresh information can be collected and it takes some time to gather information from using the primary sources. The different sources to collect information from primary method are observation, focus groups, interviews etc. On the other hand, information collected from the secondary method is easy and cheap. The sources to collect the information from secondary sources are easily available. Under this, questionnaire will be developed in primary method and for doing the literature review part, books, magazines etc. sources will be used (Kumar, 2019). Types of study:The research work is based on a topic and the researcher's main duty is to solve the analysis problem by collecting different information and data. Present investigation consists qualitative and quantitative as research methods which help in conducting investigation effectively In present research work, quantitative method was applied through an investigator because it permits for wider study and increasing generalisation of outcomes. This helps in providing the better result accuracy(Mackenzie and et. al., 2012). Research Instrument:It is explained as tool to gather, examine and analyse the data concerned to subject. It is step by step action plan that provides direction to efforts and thoughts, enabling to conduct an investigation in systematicmanner to produce positiveoutcomes effectively. It gives overall direction of an investigation consisting process through which an investigation conducted. There are different research instruments such as surveys, interview, observation, focus groups and many others. Among all the research instruments, survey has been used because by using this, information from the large number of respondents can be gathered and there is less time as well as cost involved (Mackey and Gass, 2015). Q1) Are you have knowledge regarding the role of corporate strategy in the organisation? Frequency a) Yes40 b) No20 Q2)DoyouthinkthatcorporatestrategyissueleadstodeclineinFrequency 8
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organisational profitability and productivity? a) Yes50 b) No10 Q3) What are several activities that M&S experienced after launching Digital First? Frequency a) Revenue increased by 0.2%20 b) Website Traffic increased by 8%20 c) Increase in Mobile Traffic and Paid search20 Q4) According to you, What was the main reason behind failure of M&S in its “Digital First” project? Frequency a) Underperformance in clothing and Home25 b) Supply chain Issue20 c) Inadequate technological competencies15 Q5) As per your view point, does M&S will be able to recover its position if it can strengthen its technological background? Frequency a) Yes45 b) No15 Q6) What is the difference in working of Marks and Spencer due to digital platform? Frequency a) Reduction in manual operations18 b) More complicated task22 c) Lack of employees' involvement20 Q7) What are the challenge faced by M&S in operating“Digital First” retailer in industry? Frequency a) Reduction in Sales20 b) Trafficking of website22 9
c) Decline in business growth and expansion18 Q8) According to you, reduction in sales is main issue faced by M&S due to operating “Digital First”? Frequency a) Agree50 b) Disagree10 Q9) What are the someways through which operations can be improved with use of digital techniques? Frequency a) Feedback from work force15 b) Proper planning16 c) Simplifying business operations17 d) Regular performance measurement12 Sampling: This is an essential section of research methodology that usually have two techniques such as probability and non-probability. Within a research, probability sampling will be applied for selecting 50 employees of M&S on random basis. Main purpose for using this technique of sampling as there is possibility to make inferences regarding the population. Non- probability type of sampling is not useful according to the current topic because it is completely based on qualitative research (McCusker and Gunaydin, 2015). Time Horizon:Time is important for completing each activities of research in systematic manner. There are two approaches of time horizon which are cross-sectional approach and longitudinal approach. Among them cross-sectional approach will be used because it focus on current situation of study (Miller and et. al., 2012). On the other hand, longitudinal approach is not used for current study because it requires large amount of time. Research reliability and validity:Reliability and validity of the study is based on primary method of data collection. Within an investigation, questionnaire will be used that is useful for researcher in testing of reliable and valid information regarding the corporate strategy issues that are faced by company while they operate digital first (Quinlan and et. al., 2019). 10
Research ethics:The success of investigation is based on the sources and type of informationthatbeingused by researcher.For performingeachactivityof primaryand secondaryresearchinvestigatorwillconsidercertainprinciplesofresearchethicslike confidentiality, responsible publication, informed consent, anonymity etc. in order to complete research activities in ethical and systematic manner (Riedl, Davis and Hevner, 2014). 11
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CRITICAL REVIEW OF RESULTS Theme 1: Knowledge regarding the role of corporate strategy Q1) Are you have knowledge regarding the role of corporate strategy in the organisation? Frequency a) Yes40 b) No20 Table1 a) Yesb) No 0 5 10 15 20 25 30 35 40 40 20 Frequency Figure1 Interpretation: Above shown table has been interpreted knowledge about the corporate strategy and its role within an organisation. 40 out of 60 employees of M&S said as proper implementation of corporate strategy within a workplace is essential for an organisation by retaining its sustainable business growth in marketplace. Remaining 20 employees are observed as improper implantation of corporate strategy have negative impact over business growth by decline sales. Theme 2: Impact of corporate strategy issue in organisational profitability and productivity 12
Q2)Doyouthinkthatcorporatestrategyissueleadstodeclinein organisational profitability and productivity? Frequency a) Yes50 b) No10 Table2 a) Yesb) No 0 5 10 15 20 25 30 35 40 45 50 50 10 Frequency Figure2 Interpretation:It has been concluded that corporate strategy issue leads to decline in organisational profitability and productivity. 60 out of 50 employees of M&S said yes whereas remaining are not favour in this statement.In order to operate Digital first is a main issue of corporate strategy that was faced by M&S and it turn to impact on them by decline its sales. Remaining 10 respondents not have any idea about the same. Theme 3: Number of activities that are experienced by M&S after launching Digital First Q3) What are several activities that M&S experienced after launching Digital First? Frequency a) Revenue increased by 0.2%20 13
b) Website Traffic increased by 8%20 c) Increase in Mobile Traffic and Paid search20 Table3 a) Revenue increased by 0.2% b) Website Traffic increased by 8% c) Increase in Mobile Traffic and Paid search 0 4 8 12 16 20 202020 Frequency Figure3 Interpretation:From the above given information, it has been summarized number of activities that are experienced by Marks & Spencer after launching Digital First. For this statement, respondents have equal view about the different activities such as revenue increased by 0.2%, website traffic increased by 8%, and increase in paid search and mobile traffic. These are main activities that are experienced by company after launching Digital first. Theme 4: Main reason behind failure of M&S in its “Digital First” project Q4) According to you, What was the main reason behind failure of M&S in its “Digital First” project? Frequency a) Underperformance in clothing and Home25 b) Supply chain Issue20 c) Inadequate technological competencies15 14
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Table4 0 5 10 15 20 25 25 20 15 Frequency Figure4 Interpretation: According to the above graph, it has been interpreted main reasons of failure that was faced by M&S in operating its Digital-first. 25 out of 60 employees have idea as underperformance in clothing and home is main reasons because company declining their market up-to 7.8% or by 5.5%. 20 respondents have idea as supply chain issue is major reason behind failure in Digital-first project because it require higher labour costs from suppliers. Remaining 15 respondents have knowledge as inadequate technological competencies is biggest reason that have negative impact over business operations and functions of M&S. Theme 5:M&S will be able to recover its position if it can strengthen its technological background Q5) As per your view point, does M&S will be able to recover its position if it can strengthen its technological background? Frequency a) Yes45 b) No15 Table5 15
a) Yesb) No 0 5 10 15 20 25 30 35 40 45 45 15 Frequency Figure5 Interpretation:This graph interpreted the opinion of employees about the actions that will be taken by M&S to recover its position if it can strengthen its technological background. 45 out of 60 respondents said yes whereas remaining 15 are said no. Therefore majority of respondents are agreed that there is requirement for taking an effective action. For this company must provide training to their all staff members and also develop proper strategy. As it will be beneficial for company to successfully recover their position and make strong technological background. Theme 6: Difference in working due to digital platform Q6) What is the difference in working of Marks and Spencer due to digital platform? Frequency a) Reduction in manual operations18 b) More complicated task22 c) Lack of employees' involvement20 Table6 16
a) Reduction in manual operations b) More complicated task c) Lack of employees' involvement 0 5 10 15 20 25 18 22 20 Frequency Figure6 Interpretation: This table has been communicated difference in working of company due to digital platform. For this 18 out of 60 participants have opinion as it reduce manual operation which impact on employees performance and productivity in negative manner. 22 respondents have idea as digital platform is essential for M&S in solving of more complicated task in easier way. Remaining 20 participants have knowledge as there is lack of employee involvement which turn to impact on organisational performance. Theme 7: Challenge faced by company in operating “Digital First” retailer in industry Q7) What are the challenge faced by M&S in operating “Digital First” retailer in industry? Frequency a) Reduction in Sales22 b) Trafficking of website20 c) Decline in business growth and expansion18 Table7 17
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a) Reduction in Sales b) Trafficking of website c) Decline in business growth and expansion 0 5 10 15 20 2522 20 18 Frequency Figure7 Interpretation:This table has been interpreted number of challenges or issues that are faced by company while operating Digital-first within retain industry. 22 respondents have idea as it is a main issue of corporate strategy that negatively impact on business sales. 20 employees said with change in online operations, consumer face problem in shopping because of trafficking on website. Remaining 18 respondents have idea as decline in business growth and expansion is major challenge that arisen due to supply chain. Theme 8: Reduction in sales is main issue of operating “Digital First” Q8) According to you, reduction in sales is main issue faced by M&S due to operating “Digital First”? Frequency a) Agree50 b) Disagree10 Table8 18
a) Agreeb) Disagree 0 5 10 15 20 25 30 35 40 45 50 50 10 Frequency Figure8 Interpretation: It has been concluded view point of employees about the issue faced by M&S while operating Digital-first. Most of the participants said as reduction in sale is major issue that have negative impact on organisational performance and growth. It has also impacted over growth and success of M&S in marketplace and in customer's mind. Theme 9:Someways through which operations can be improved with use of digital techniques Q9) What are the someways through which operations can be improved with use of digital techniques? Frequency a) Feedback from work force15 b) Proper planning16 c) Simplifying business operations17 d) Regular performance measurement12 Table9 19
a) Feedback from work force b) Proper planning c) Simplifying business operations d) Regular performance measurement 0 2 4 6 8 10 12 14 16 18 15 16 17 12 Frequency Figure9 Interpretation: Above table has been summarized number of ways that will be require to used by &S for improving their business operations by using digital techniques. 15 out of 60 employees have idea as feedback from workforce is essential way because it help an organisation in identification of their requirement related with digital technology. 16 respondents have opinion as proper planning is essential because it help in implementation of digital techniques successfully which turn to assist M&S by improving their business operations. 17 respondents have idea as simplifying business operations is essential for improving operations in easier manner. Remaining 12 participants have knowledge as regular performance measurement of employees is significant for company to improve their operations and gain better advantages easily. Discussion on the basis of secondary data: To acquire the knowledge about corporate strategy issue within 1 month of time period. There are different issues that are present in implementing of corporate strategy at workplace.Theseissuesarepoorcommunicationchannelsforthestrategy,unclearor inaccessible strategy etc. These arte main issues that have impact on business performance and growth of M&S in delivering of digital first. To determine the 2 biggest challenges faced in operating as “Digital First” retailer in industry. 20
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There are some 2 biggest issues faced by M&S in operating as Digital First. Due to variant in on- line buying and selling, foremost problems faced are decline in revenue. Despite shifts in online sports, clients face buying trouble because of website trafficking. When people are unable to offer a proper reaction the use of the web site, then in this example there are a few opportunities that would switch to any other manufacturers. To study difference in working of Marks and Spencer due to digital platform in 2 months of time duration. With use of digital technology, there'll modifications in enterprise operations due to easiness of conducting operations. With alternate in enterprise activities, there'll impact on operational performance of work force as nicely. 2 essential ways through which operations can be improved with use of digital techniques. For imposing virtual generation within the organisation there may be requirement of right exchange in business sports and it is going to be smooth for managers to perform commercial enterprisesports.Thereisrequirementofmakingplanswithwhichtechnologymaybe implemented properly and goals can be carried out. 21
RECOMMENDATION AND ACTION PLAN Recommendation: From the above mentioned information, it has been recommended that digitalisation is beneficial tool for the growth and success. There are some recommendations to the M&S about how to successfully implement digital first in their organisation. M&S must use number of communication channels which will be beneficial for them to communicate important information about the technological change to their employees. As it will be beneficial in implantation of digital-first successfully and also support company by increasing their sales. Company must also provide training to their workforce who has lack of knowledge about the technology. As it will turn to support business in improvement of its business growth and success easily.M&Sshouldalsoconductmarketresearchthatwillbebeneficialforthemin identification of customer' needs and wants towards the business product and services. As it will also assist an organisation in attraction of larger customers easily. Feedback from work force:This is another recommendation to the M&S is to collect feedbacks from the workforce. This feedback mainly related with the employee’s and their job satisfaction at workplace. By collecting feedback from the employees, M&S can easily fulfil their needs and retain them for long time. This resulted in maximum amount of sales and strong brand image in marketplace. Proper planning:M&S must previous plan about the adoption of techniques and many other methods. As proper planning about the technology will be beneficial for company in fulfilment of customer needs and wants in limited time period. Development of technology at workplace is beneficial for M&S because it will support them in saving time, retaining employees, and attracting more customers easily. Action Plan StepsDescription Step1:Identifythe reason First step is to identify the main reason behind the failure of M&S in its “Digital First” project. There are number of reasons such as underperformance in clothing and home, supply chain issue and inadequate technological competencies. These are main issue that are 22
identified by the M&S by conducting employee survey. Step2:Formulatethe strategies After identifying the main reason behindfailure of M&S in its “Digital First” project next step is to formulate effective strategies that help towards developing of digital-first in the organisation. For this company must use communication channels and provide training to their employees. Step 3: Gather feedback from the employees This is another step for overcoming issues of corporate strategy in effectivemanner.Forthiscompanygatherfeedbackfromthe employeesaboutthecorporatestrategyanditsbenefitsand drawbacks over business performance. This action will help M&S in development of digital-first and also increment in their sales. Step 3: Implantation of digital-first successfully It is a last step and in this company should operate digital-first and increase their sales and growth easily. CONCLUSION From the above mentioned information, it has been concluded that corporate strategy within an organisation played an important role in the growth and success of company. Operating digital-first is a major issue of corporate strategy that was faced by company. This issue negatively impacted over business performance and sales of company.Number of ways used by company for overcoming issue of corporate strategy such asfeedback from work force, proper planning, simplifying business operations and regular performance measurement. These are main ways that supported company by overcoming issue of digital-first and also increasing their sales ratio. 23
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REFERENCES Books and Journals Flick, U., 2015.Introducing research methodology: A beginner's guide to doing a research project. Sage. Gioia, D. A., Corley, K. G. and Hamilton, A. L., 2013. Seeking qualitative rigor in inductive research: Notes on the Gioia methodology.Organizational research methods.16(1). pp.15-31. Green, J. L., Camilli, G. and Elmore, P. B. eds., 2012.Handbook of complementary methods in education research. Routledge. Khan, M., Serafeim, G. and Yoon, A., 2016. Corporate sustainability: First evidence on materiality.The accounting review. 91(6). pp.1697-1724. Kumar, R., 2019.Research methodology: A step-by-step guide for beginners. Sage Publications Limited. Mackenzie, J., Tan, P. L., Hoverman, S. and Baldwin, C., 2012. The value and limitations of participatory action research methodology.Journal of hydrology.474.pp.11-21. Mackey, A. and Gass, S. M., 2015.Second language research: Methodology and design. Routledge. McCusker, K. and Gunaydin, S., 2015. Research using qualitative, quantitative or mixed methods and choice based on the research.Perfusion.30(7). pp.537-542. Miller, T.,and et. al ., 2012.Ethics in qualitative research. Sage. Quinlan, C. and et.al ., 2019.Business research methods. South Western Cengage. Rahman, M., Rodríguez-Serrano, M. Á. and Lambkin, M., 2017. Corporate social responsibility and marketing performance: The moderating role of advertising intensity.Journal of Advertising Research.57(4). pp.368-378. Riedl, R., Davis, F .D. and Hevner, A. R., 2014. Towards a NeuroIS research methodology: intensifyingthediscussiononmethods,tools,andmeasurement.Journalofthe Association for Information Systems.15(10). p.4. Online Sillitoe, B., 2020.M&S makes online changes as sales disappoint.[Online]. Available through: <https://www.essentialretail.com/news/ms-makes-online-changes/>. Jolly, D., 2020.How digital transformation technologies are enhancing business operations. [Online]. Available through: <https://www.nukon.com/blog/how-digital-transformation- technologies-are-enhancing-business-operations>. Vicki A. Benge, 2019.The Definition of Corporate Strategy.[Online]. Available through: <https://bizfluent.com/info-7746270-definition-corporate-strategy.html>. Yates-Roberts, E., 2015.Marks and Spencer is sparking a digital-first retail experience. [Online].Availablethrough:<https://www.technologyrecord.com/Article/marks-and- spencer-is-sparking-a-digital-first-retail-experience-86571>. 24
APPENDIX Questionnaire Q1) Are you have knowledge regarding the role of corporate strategy in the organisation? a) Yes b) No Q2) Do you think that corporate strategy issue leads to decline in organisational sales and profitability? a) Yes b) No Q3) What are several activities that M&S experienced after launching Digital First? a) Revenue increased by 0.2% b) Website Traffic increased by 8% c) Increase in Mobile Traffic and Paid search Q4) According to you, What was the main reason behind failure of M&S in its “Digital First” project? a) Underperformance in clothing and Home b) Supply chain Issue c) Inadequate technological competencies Q5) As per your view point, does M&S will be able to recover its position if it can strengthen its technological background? a) Yes b) No Q6) What is the difference in working of Marks and Spencer due to digital platform? a) Reduction in manual operations b) More complicated task c) Lack of employees' involvement Q7) What are the challenge faced by M&S in operating “Digital First” retailer in industry? a) Reduction in Sales b) Trafficking of website c) Decline in business growth and expansion 25
Q8) According to you, reduction in sales is main issue faced by M&S due to operating “Digital First”? a) Agree b) Disagree Q9) What are the someways through which operations can be improved with use of digital techniques? a) Feedback from work force b) Proper planning c) Simplifying business operations d) Regular performance measurement Q10) Provide any recommendation to M&S is reduction of issue that are developed due to corporate strategy. 26