Analyzing AI's Impact on Marks and Spencer's Business Operations

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AI Summary
This report examines the impact of Artificial Intelligence (AI) on Marks and Spencer (M&S), a British multinational retailer. It begins by identifying the project's aims and objectives, focusing on AI's influence on business activities such as operations, marketing, accounting, and HR. A detailed project management plan is presented, outlining costs, scope, timeframes, quality considerations, communication strategies, risk assessments, and resource allocation. The report then delves into the research methodology, employing both primary and secondary research methods, including questionnaires to gather data. Findings are analyzed and interpreted, drawing conclusions to support recommendations for M&S regarding AI implementation. The report includes a work breakdown structure (WBS) and a Gantt chart for project management. Data analysis is performed based on a sample of respondents, exploring themes related to AI's complementarity and long-term benefits for M&S. The report concludes with a performance review and recommendations for the company to improve its business operations.
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Managing Successful Business
Project
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Table of Contents
INTRODUCTION...........................................................................................................................3
a) Identify the aims and objectives for the project......................................................................3
b) Produce an appropriate project management plan that includes relevant actions to meet
objectives and time frames..........................................................................................................3
c) Conduct research to generate knowledge which will form the basis for analysis of the
scenario posed in the brief...........................................................................................................9
d) Analyse your findings and draw conclusions to form the basis for recommendations........11
e) Present and produce your project in an appropriate manner for the intended audience.......17
f) Communicate your recommendations in an appropriate manner for the intended audience 17
g) Complete a performance review that addresses the following:............................................18
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20
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INTRODUCTION
Artificial Intelligence means information used on computer which enhances level of
distribution and creativity. This includes various kinds of application and equipment which uses
information in numeric code form (Badewi, 2016). It includes personal computers,
communication satellites, calculators. With increase in digital technology, business has been
impacted in different activities. It is significant for organisation to move with current trends and
technology. The given assignment is based on Marks and Spencer which was founded in 1884 at
United Kingdom which is retailer business that deals in clothing, luxury food products and home
products. This report discuss about aim, objectives, project management plan along with research
and findings. The performance review has been made for knowing performance of individuals.
a) Identify the aims and objectives for the project
Background of Research
Marks and Spencer (M&S) is multinational British retailer organisation founded in 1884
at London that deals in luxury food, clothing and home products. This was founded by Michael
Marks and Thomas Spencer in Leeds. It is serving its products worldwide for their consumer
though price of goods is high as it maintain high quality. There are 80,787 employee working in
organisation for achievement of goals and objectives.
Aim of Project
To identify the impact of Artificial intelligence upon business activities as operations,
marketing, accounting, HR.” A case study on Mark and Spencer.
Objectives of Project
To identify the concept of Artificial intelligence
To analyse challenges and benefits of Artificial intelligence for Mark and Spencer
To ascertain the impact of Artificial intelligence upon business activities of Mark and
Spencer.
b) Produce an appropriate project management plan that includes relevant actions to meet
objectives and time frames
Project Management Plan (PMP) is approved and formal document which is used to
manage project execution (Beringer, Jonas and Kock, 2013). This plan define, integrate, prepare
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and coordinate different panning activities. The PMP which includes relevant actions to meet
objectives and time frames are as follows:
Project Title
To identify the impact of Artificial intelligence upon business activities as operations,
marketing, accounting, HR.” A case study on Mark and Spencer.
Company Name
“Marks and Spencer”
Cost
It is important factors for conducting research plan and operating business activities. It is
necessary to conduct proper research to know about market scenario so that cost can be known.
While implementing new technology at M&S, various types of cost occurred such as installation,
purchase and employee cost. The project department of organisation should make budget which
can be 20 lacks pounds. Similarly, from researcher point of view, it can 50000 pounds for
implementing such project in organisation (Brady and Davies, 2014).
Scope
It is regarded as when organisation want to start any new things in their business. Here,
Marks and Spencer is planning to implement digital technology in their organisation for running
their activities in better way. This technology can provide impact on accounting as it make work
easy and simple to maintain records. Also, M&S need to analyse different factor for good
outcome. The researcher can analyse scope level by improving and enhancing skills and
knowledge by using techniques in order to carry out plan in effective manner.
Time
It is period when project started or action took place and work occurred (Chang, Walters
and Wills, 2013). If organisation has sufficient time then it can evaluate each and every digital
technology and implement it. In order to implement digital technology at Marks and Spencer it
can take 3 months and from researcher point of view it requires 3-4 months for collecting data
and information for plan.
Quality
This is the raw materials required by company for operating business and implementing
digital technology. It has both positive as well as negative impact on corporation functions if it
use good quality, work can be done easier that leads to increase in sales and profits. Similarly, in
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case of low quality, values and profit declines. For this plan, researcher should use tools and
techniques such as primary, secondary for collection of data to maximize quality of project.
Communication
With helps of communication all data and information are transferred from one
department to another (Doherty, Ashurst and Peppard, 2012). Marks and Spencer requires
various communication channels such internet, social media, chats for providing information to
consumer regarding their goods and service. Researcher use various communication channels
such as questionnaire, online surveys for collection of data for research work.
Risk
It is possibility and future uncertainty of losing something. Different kinds of risk can be
face by Marks and Spencer in terms of communication channels, demand of customers, financial
risk. While implementing such technology in business, they should consult with their employees
and staff for effective results. From researcher point of view, risk face are related with funds,
limited time period. It can be minimize by doing proper research before implementing digital
technology.
Resources
This is economic and productive factors that are required for accomplishing activity and
work (Dutta and Bose, 2015). There are various resources required by Marks and Spencer for
running their business operation successfully such as funds, land, staff, machinery, stakeholders.
As from researcher point of view, resource required are methods of questionnaire, funds, surveys
and others for collecting data and information.
Times Frames
There are two types of time frames used by Marks and Spencer for completing project
and its objectives which are described below:
Work Breakdown Structure (WBS)
It is considered as project deliverables that organise work of team into smaller parts or
sections. This is regarded as hierarchical decomposition of task which is carried out through
team for achieving objectives and goals. There are various elements of WBS such as product,
service, data and combination thereof. This provide helps in estimation of cost, guidance and
control of framework. WBS has an ability for assignment of work to individual for carrying it
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and defining relationship through cost and work. Each and every risk incurred while carrying out
project can be track and performed (Evans and Johnson, 2013).
Gantt Chart
It is horizontal chart that was developed in 1917 by Henry. L Gantt, American engineer
and social scientist. This is used by project manager for representing graphical illustration of
work that assist in tracking, planning and coordinating specific task (Hillson, 2017). It is
represented through vertical and horizontal axis that shows task and time span. It has features
such as start, end date, milestones and others.
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c) Conduct research to generate knowledge which will form the basis for analysis of the scenario
posed in the brief
Research methodology
It is the specified procedure used for selection, processing and analysing information of
particular topic. It can be related with publication research, interviews, surveys that include
present and historical information.
Type of Research
Research is systematic and creative work that aid in increasing knowledge of humans and
society with exercise of new devise applications (Lambert and Enz, 2012). It is regarded as
careful and organised study to solve problems and finding best solutions. There are different
types of research used by Marks and Spencer for plan are as following:
Primary and Secondary
Primary Research is designed for meeting specific needs. This involves new research
where researcher ask questions and gather information from respondents. It requires more time
and cost but provide conclusive results. It includes surveys, focus group, interviews,
questionnaires.
Secondary Research is type in which information and knowledge are already complied,
gathered, organised and published by others. This includes studies and report collected by
businesses, government agencies, magazine, trade associations, newspaper, journals, books. It
requires less time and cost as compared to primary.
Qualitative and Quantitative Research
Qualitative Research is based on theoretical aspect of data and information used by
organization for collecting opinions, reasons, motivations (Larson and Chang, 2016). This can be
collected through observations, group discussions and interviews. It uses methods such as semi
structured and unstructured techniques. The sample size chosen is small and respondent is
chosen in order to fulfil given quota.
Quantitative Research is used for specifying difficulty through generating numerical data
that can be transformed into statistics value. It helps in quantify opinions, attitudes, behaviours
and getting results from large sample population. This research is more structured than
qualitative that includes methods such as online survey, mobile survey, paper surveys and others.
This research requires less depth information but more data and information in breadth.
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Data collection
It is process for measuring and collecting information on variables of interest. The
researcher need to collects information from authentic source to get accurate information for
answering research problem, testing hypothesis and evaluating outcome (Martini, Pareto and
Bosch, 2013).
Questionnaire
It is designed to analyse statistical outcome of respondent. This includes questions for
purpose of data collection information to provide solution to problems. This is qualitative and
quantitative in nature (Patanakul, 2015).
QUESTIONNAIRE
Name:
Age:
Gender:
Q1. Is the implementation of Artificial intelligence is complimentary for Mark and
Spencer?
a) Yes
b) No
Q2. Whether Artificial intelligence is assist in providing long term benefits to M&S?
a) Yes
b) No
Q3. What can be the outcome that organisation will face after the applications of these
innovative ideas ?
a) Positive
b) Negative
Q4. Does Mark and Spencer really needed to make such changes in their business
operations ?
a) Yes
b) No
C) Can't say
Q5. Does the changes that has been ascertain after the implementation digital technology
will be acceptable or not ?
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a) Agree
b) Disagree
Q6. Do you think organisation have required resources while implementing Artificial
Intelligence ?
a) Yes
b) No
Q7. Do you have any suggestion regarding implementation of artificial intelligence in
order to manage business operations and its functions ?
d) Analyse your findings and draw conclusions to form the basis for recommendations
Sample Size
Sample is the way of selecting number of observation from statistical or sample size. It is
subset of whole population (Sparrow, 2012). In this project work, researcher has taken 10
respondent for sample size and used probability method. The respondent for project work can be
customers, suppliers, employees, students.
Analysis and Interpretation
Data analysis is process for modelling, cleansing, inspecting and transforming data which
has goal to cover required information, informing conclusion and supporting decision making.
This is procedure for extracting knowledge and information out of data.
Theme 1:
Q1) Is the implementation of Artificial intelligence is
complimentary for Mark and Spencer?
Frequency
Yes 7
No 3
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Interpretation
Artificial intelligence is the technology implemented in business to make work easier and
simple. It helps in increasing work efficiency and productivity. From above chart, it can be
concluded that there are 7 respondent who are in favour of implementation of artificial
intelligence at Marks and Spencer whereas 3 said it is not complimentary for organisation.
Theme 2:
Q2) Whether Artificial intelligence is assist in providing long
term benefits to M&S?
Frequency
Yes 8
No 2
Yes No
0
1
2
3
4
5
6
7
7
3
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