Impact of Technology and Innovation in Managing Business: A Study of Marks and Spencer

Management research

TABLE OF CONTENTS
TABLE OF CONTENTS..............................................................................................................2
Title: To analyse the impact of technology and innovation in managing business: A study of
Marks and Spencer...........................................................................................................................3
INTRODUCTION...........................................................................................................................3
LITERARURE REVIEW................................................................................................................4
METHODLOGY.............................................................................................................................6
Research type..............................................................................................................................6
Research approach......................................................................................................................6
Research philosophies.................................................................................................................7
Data collection............................................................................................................................7
Sampling.....................................................................................................................................7
Data analysis...............................................................................................................................8
Reliability and validity................................................................................................................8
Research limitations....................................................................................................................8
Ethical considerations.................................................................................................................8
REFERENCES..............................................................................................................................10

Title: To analyse the impact of technology and innovation in managing
business: A study of Marks and Spencer.
INTRODUCTION
Aim: To present and analyse the use of technology in the various processes of managing
business and boosting innovation.
Objective:
 To assess the advancements of technology.
 To understand the process of managing business.
 To determine the impact of technology in managing business.
 To recommend ways of boosting innovation in managing business.
Background
The process of managing the business is a form of discipline that helps the organisation
to discover, analyse and measure the processes involved in business while making it automated.
Managing the business includes combination of the various methods that are used in business
processes. Marks and Spencer is known to be a British brand specialising on the multinational
retailer level in fashion and home products. It is one of the leading brands running in the market
of UK and offers products and services of exclusive nature and luxury category. The company
has its active presence on both offline stores and online digital channels and is looking various
ways to expand their business with the increase in technology. Technology and its advancements
have made the processes of the business easy and is leading many changes in the market world.
Research questions
Q1. What is the concept of business management?
Q2. What are the innovations and advancements in technology?
Q3. What is the impact of technology on process of managing business?

LITERARURE REVIEW
According to Fartash, and et.al., 2018 technology have lead to explore various new and
improved methods of attaining some desired outcome. Changes within the technology leading to
its advancements have resulted in increasing the productivity levels in labour, capital along with
other production procedures. Technology deals with the process of building in innovations in the
process where the inputs will be transformed to the outputs. Doshi, and et.al., 2021added
Changes in technology are the inventions in technology with the help of research and
development. This continuous improvements in technology have lead to make it important for
diffusion it in the industry and society. Moreover, Hero, 2019said that the speed at which
technology is growing is very fast and rapid. It is important for the businesses to be aware of the
technological advancements that are currently available in the market. This will help in
influencing their sales, cost along with the marketing methods. The advancements in technology
have a range of pros and cons associated with it in contexts of business and its related
stakeholders. It is important for any business and organisation to assess the risks while taking
some informed decisions related with the latest technology.
Au-Yong-Oliveira, and et.al., 2018 said that technology and its advancements have made
it easy, fast and effective to build communication in the business processes within an
organisation. It helps in having a better manufacturing techniques that are efficient as well as will
produce less amount of wastage. It helps in building more efficient management of stock and
ordering systems while encouraging the ability to develop new and innovative approaches. Jose,
and Jose, 2017contradicted that technology and its advancements leads to increase dependency
on the same while the latest technology involves high cost, especially in the small businesses.
Technology increases the risk of having job cuts as it allows high automation leading for
businesses to require less human power. Bauer, and Schlake, 2017agreed that technology even
leads to closure of high street stores and will favour more online based stores and shops. Not to
mention, there is a risk of security in association with the stored data and the fraud case.
Technology also requires regular forms of updates while it goes down and have many faults that
might result in stopping the business operations on instant basis.
Yu, and Zhang, 2019 mentioned that changes in technology have affected business and
the processes associated with the business operations. There are a lot of businesses in the market
that have adopted the new and advanced forms of technology that can be used to shape and