Assignment on Importance of Sustainable Management - Marks and Spencer

Added on - 04 Jun 2020

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SustainableManagement Futures
Table of Contents
INTRODUCTIONIn an organisation to attain success and extreme growth, proper management of businessis very important. It is a process under which all business activities and functions are coordinatedand managed in such manner so as determined gaol can be achieved within a time period.Sustainable management in the business context is an important part of the ability to successfullymaintain the quality of business and manage all activities in an effective manner so that desiredobjective can be achieved in an easy manner (Boulouta and Pitelis, 2014). In the followingassignment, the importance of sustainable management has been systematically addressed withrespect of Marks and Spencer.It is one of the most popular retailer. In addition to this, theactivities which has done by the company in order to protect and for benefit to society has beensystematically discussed in this report.The main aim of this assignment of this reportis tounderstand the sustainability, corporate social responsibility and ethics of business management.Furthermore, the theoretical and conceptual approach related to the sustainable administrationhas also been studied in this report.MAIN BODYIn the present time, every business venture requires an effective success and growth inthe market. There are large numbers of competitors available in the market so it is very difficultto survive for long time. Only by effective competitive advantage and strategy company candevelop its effective position and brand image. Corporation seeks to use such effective path andmeasure about the business through which gaol can easily attain. In this manner, Corporate socialresponsibility is one of the best concept by which firm can gain the long-term sustainability inthe market (de Bakker, 2016). It is a kind of business approach which contributes to sustainabledevelopment by delivering for all stakeholders. In this aspect, company engage with suchactivities and practices which supports to the other stakeholders and provide some benefits tothem. In this includes all sustainable development like economic, social and environmentalwhich assists in delivering profit to them.The main aim of the corporate social responsibility isto protect the social, economical and environmental aspect by business activities and function.Marks and Spencer is a retail brand which deals in clothing, food and other home wareproducts. It is 43rdlargest retailer in the world which have 900 stores. It has main objective is todeliver the high quality of customer goods and attract them in large manner. It wants to achievethe suitability in the market and earn maximum market share in retail industry. For this objective,1
it’s have effective focused on the corporate social responsibility concept. All corporate socialresponsibility done by the Marks and Spencer has been appreciated by the public in the countrybecause it focused in this aspect in an excellent manner. As per the research it has been foundedthat corporate social responsibility of Marks and Spencer focused on the heath and safety of thecustomer as well as employees.Furthermore, it considers on those measures through which it cansatisfy the needs and wants of customer. It effective focused that there may not any negativeimpact on the society. In addition, to this, it considers the various measures (Erhemjamts andVenkateswaran, 2013). In the context of CSR activities, Marks and Spencer has successfullyengaged with stakeholders as it effectively keeps mind that various stakeholders’ activities. Iteffectively focused on the needs and wants of all stakeholders, thus, it has strong relationshipwith them. In the context of customers, it conducts market research to identify the actual needsand wants of them. According to the customer demand, the product and services are producedand delivered in the market. The prices of the commodity have charged in fair manner. On theother hand, in the context of employees, it effectively satisfied them by pay the fair wagesaccording to their efficiency and performance (Farooq and O'Brien, 2015). In addition to this,cited venture discloses all relevant information about the business in front of the personnels.Company takes the active participation of employees and set favourable policies and practicesfor them so as they can effectively carry out their functioning of business. In addition to this, italso organises the employees’ welfare program so as they can motivate and encourage foreffective working at the workplace. Company maintain healthy relationship with employees bydeveloping effective working condition at workplace (Franks and et.al., 2014). Moreover, it hasspecial arrangement for the employee's health and safety. In the context of Government, Marksand Spencer have also effective relationship because it always fulfils the desire of government. Itwants that corporation always disclose its financial status and pay tax in fair manner. Thus,Marks and Spencer has effectively meet the requirement of government by pay the fair taxationon timely basis and follow all regulation and legislation about the business.Marks and Spencer has developed an eco-friendly store which consume less energy. Itused optimum utilisation of transportation so that goods are distributed in an effective manner.As per the research it has been also founded that in the 2009 marks and Spencer has engagedwith charity activity as it raised £2.1 million amount for the patients who have breast cancer ad15% of it is used to fund for those patients who have long termed cause of the disease. Cited2
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