Business Development Strategies: A Case Study of Marks & Spencer

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Context of Business
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Table of Contents
Introduction......................................................................................................................................3
Assignment 1...................................................................................................................................4
Introduction..................................................................................................................................4
Main Body...................................................................................................................................4
Conclusion...................................................................................................................................6
Assignment 2...................................................................................................................................7
Introduction..................................................................................................................................7
Main Body...................................................................................................................................8
Conclusion.................................................................................................................................13
Conclusion.....................................................................................................................................14
Reference List................................................................................................................................15
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Introduction
The entire study has been divided into two smaller parts in order to asses some key deliverables
at certain extension. At the first part of the study, the continuously changing and dynamic aspect
of conducting business will be represented. Moreover, at the first part some other issues that are
linked with cultural, economical and environmental values will also be described at the part.
Moreover, at the second part, the key connection between organizational practice and vision,
mission will also be described in a prefabricated manner.
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Assignment 1
Introduction
In the part of the assignment, different opportunities that have been gained by different
organizations in recent context have been described. It is extremely essential for different
organizations to get know about their external and internal factors before coming up with
different strategic approaches and strategies. In the part of the entire study, description regarding
macro and micro environmental factors will be described in an extensive and effective manner.
In addition to that, the core connection between different environmental, cultural and social
factors will also be described at this essay.
Main Body
A range of different micro environmental factors is needed to be taken into consideration as
these micro environmental factors can directly affect the overall consumers, resellers, suppliers,
competitors and other normal people at certain extension (Kew and Stredwick, 2016). All of
these factors might have major influences at the process of business development in context to
different organizations. Moreover, the overall management of different organizations are needed
to consider their overall demand so that they can effectively mitigate any form of demand in a
concise and proper manner at certain extension. In addition to that, they also need to make sure
the fact that different issues are needed to be minimized at the time of mitigating different forms
of demand.
From the perspective of current trends and analysis, it can be delivered that all of these factors
has major influence at the time of minimizing different issues in an effective and efficient
manner (Coffie and Blankson, 2018). The suppliers are needed to deliver accurate materials for
conducting good business practices with their parent organizations. In addition to that, buyers
generally do not get associated with the suppliers, as they do not have any direct communication
with the suppliers. An organization can describe them as a safe organization if they have good
and effective relationship with their supplier base.
Products that has been designed and controlled by different organizations generally provide the
authority of selling towards the sellers (Souto, 2015). Some management processes are needed to
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be done in an effective and efficient way so that it can comply with the basic requirements. The
overall market competition can also be described as one of the key aspect that is needed to be
taken into consideration while selling different kinds of products. Optimal service provides are
needed for mitigating and maintaining for providing adequate products and services in an
authentic manner.
Several macro environmental factors such as cultural, social, economical and environmental
factors are also closely associated with the products and services of different organization
(Leonidou and Hultman, 2019). Reputation of a business sector can also be highly influential in
context to moving up the overall number of sales. Social factors might be extremely helpful at
magnifying the overall business demand at some far greater and bigger extension. Ethical
behavioural perspectives are also needed to be taken into consideration as without the help of
ethical practices, it is utterly impossible to manage the growth scope in context to different
organizations. Maintaining appropriate ethical factors might be extremely helpful towards
getting brand recognition and sustainable relationship. Maintaining cultural factors are generally
helpful at understanding the need of some other requirements. The overall needs and demands of
an entire consumer base can be assessed in an effective and efficient way while maintaining
prefabricated cultural factors (Wirtz et al., 2016).
For meeting up with the demand rate of consumers and other stakeholders, ethical behaviour and
perspectives are needed for maintaining the overall requirement. Ethical behaviour has also been
extremely helpful at mitigating several issues of a business perspective. Delivering adequate and
necessary business information is generally extremely helpful towards mitigating the current
demand level of different business enterprises so that they can gain both employee and consumer
trust at a far greater extension. Meanwhile, maintenance of effective communicational
perspectives is generally also useful for a range of different organizations at understanding the
current need of cultural perspective in a target market. Moreover, the economical condition is
also needed to be taken into consideration at the time of managing the overall resources of an
organization. Setting effective pricing cannot be done without the help of effective and efficient
examination of economical perspectives. Economical perspectives are also extremely helpful at
allocating resources (Galahitiyawe and Musa 2016).
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In addition to that, different product and service provider also need to make sure the fact that
they are providing adequate services while maintaining ethical perspectives. Organizations that
are consumer friendly in nature can satisfy their consume base while minimized different effects.
Ethical factors might also assist different organization at getting the key perception of their
consumers, which will automatically increase the number of sales and revenue generation
(Phillips-Wren et al., 2015). All of these factors are need to be considered at the time of
enhancing overall marketing capabilities so that organizations can get their desired reputation
and recognition from their operated market.
Conclusion
After analysing the part of this entire study, it can be easily concluded that both macro and micro
environmental factors can directly affect the overall development process of a particular
organization. Moreover, it can also conclude that it is necessary for different organizations to
make some effective and efficient logical amendments so that they can develop their products
and services to a far bigger extension. Different internal systems of diverse organizations are also
needed to be modified for improving organizational efficiency and affectivity. Behaviour, ethics
and some other components puts major significance at the time of developing business process
and adequate knowledge is required for managing different issues. Some external factors can
also help different organizations for meeting up with the key requirements of an organization.
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Assignment 2
Introduction
Efficient management practises at any joint venture might become extremely helpful towards
running a business organization while following an epidemic and systematic manner. In order to
conduct this part of the entire study, Marks & Spencer has been considered. Moreover, it has
been observed from several different instances that Marks & Spencer in recent context is willing
to close a number of different supply chain store as they are lacking the overall process regarding
conducting appropriate ventures. It might genuinely decrease their overall profit generation from
their regulated market. Moreover, the study will make more conception towards the overall
business practices of M&A since the researcher of the project are opted at making different
leadership strategies and choices so that the organization can get to know about the diverse
perspective of different organizations. Different theories such as path-goal theory, Mintzberg’s
Managerial Roles and many others will be described in the study from the perspective of Mark &
Spencer. Lastly, some recommendation will be provided so that M&S can restructure and bring
up the overall process of M&S.
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Main Body
A brief history and summary of the business and the rationale
M&S was initially founded back at 1884 and it was founded by Michael Marks. After ten years
of conducting business, the business had made partnership alongside with Thomas Spencer.
Initially, they were a whole seller organization and their first shop was opened at year of 1904
and was at Leads, UK. At the year of 1926, they become public limited organization and after
that at around the year of 1931-1932 they included their specified food department (Reis et al.,
2015). Despite the fact that M&S was a profitable and tangible organization from the very
beginning of their business journey, it is needed to consider the fact that primary they entered at
an international market place at the year of 1975 when they initially penetrate the market sector
of France and Belgium. From the year of 2000 to till date, M&S has become extremely popular
in different segments that have been entirely created for the men.
Moreover, their overall food department is also optimal and resulting into holding adequate
reputation at the market sector. However, from several different instances it has been closely
observed and articulated that in recent context M&S are failing at providing adequate service
towards their entire consumer base, as they are not getting satisfied with the current and existing
product line of M&S.
Overview of Marks & Spencer
M&S is a retail public sector organization that has the key goals and objectives of moving up
their overall revenue generation. The headquarter of that organization is bases into UK and they
have some prefabricated international presence. They are also extremely popular for different
forms of products such as foods, cloths and many others at certain extension. From analysing
their 2018 annual report, it has come to know that they overall profit generation exceeds £10,000
million, which is enormous. In addition to that, they have more than 80 thousand employees
worldwide and the rate of their overall market growth is almost 0.8% (Bullough et al., 2017).
However, in fashion industry they are currently experiencing a steady and huge decline of
overall growth, which reduces by almost 1.8%.
Rationale
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As per several recent extensions, it has been observed in a close and adequate manner that by the
end of 2022 the organization Marks & Spencer are opted to close at least 100 different stores,
which will automatically hurt their overall revenue generation and business expansion at certain
extension. It might effectively reduce their overall proficiency and profit generation at certain
extension (Cano-Kollmann et al., 2016). Additionally, it has also been observed from several
different instances that M&S are currently opted to solve their issues regarding distribution so
that they can increase their overall growth at certain extension. Therefore, M&S has been
selected in order to recommend them some ways of mitigating their current problem while
growing at clothing store.
Discussion regarding leadership vision, style, management practice and strategies using
various theories
Vision
As per the consideration of modern market researchers, during setting the vision of the
organizations, employers and the entire organizations focus on conducting it in effective manner.
The modern business scenario is highly competitive, where business ventures are competing with
each other in order to achieve competitive advantage in market world. However, it can assist
business organizations to achieve success across the contemporary merchandise marketplace.
While it comes to the company, named “Marks & Spencer” is one of the oldest food and fashion
retail companies that has been providing quality products and services to the wide range of
global costumers since 1884. The company has set their vision is getting back their success again
to hold reputation across the Great Brittan premises as well as beyond the national premises by
providing best quality goods and services to customers.
Management practices
It is absolute that an organization that is not capable enough to manage all the business
operations in a precise manner, then it such becomes pathetic. Such business ventures will not be
able to reach out their business destinations (Donate and de Pablo, 2015). However, in this
business context, another important consideration is Mintzberg’s Managerial Roles. According to
modern market researchers, managers are associated with verity of job roles and responsibilities
incusing decisional, informational and interpersonal role. Moreover, the company named,
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“Marks & Spencer” generally follows informational role in time of sharing any sort of decisions
to employees of the company.
However, there are also few of other employees those are interested to follow interpersonal role
within the organization. In case of interpersonal role, companies negotiate with their employees
before making any business decisions. On the other hand, for informational role of management,
higher authority only provides instructions related to the activity of company. Apart from this, In
“Marks & Spencer”, a major issue is communication gap. In most of the cases, higher managerial
positional officer of the specified business organization does not show interest in communicating
with ordinary employees, which results in communication gap and verity of managerial issues. It
has been known from the reports that few of the members of the specified company are
following the interpersonal managerial role and they are likely to analyze the current business
status before making discussion with the employees as well as taking final decision. Across the
international market, it also assists “Marks & Spencer” to create a well-established brand with
authentic reputation.
Leadership style
As per the consideration of modern market researchers, leadership style is one of the major
concerns in modern business aspect. In order to accelerate the organizational productivity and to
achieve competitive advantage in market place, “Marks & Spencer” can use effective leadership
style, generally democratic leadership style in the company (De Maio et al., 2016). Hence, the
employees will be to increase the performance and market position of the organization.
In order to handle the vital business situation in a precise manner, “Marks & Spencer” can
maintain the concept of leader-member exchange theory. It assists in increasing the collaboration
nature of employees.
Different tactics to make use of theories
For running the current business in an effective manner, “Marks & Spencer” produces different
tactics that are followed below:
 Identification of actual problem
 Developing business goal
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 Planning to make appropriate action
 Overseeing the result
Modern businesses are adopting Path goal theory as it assists in developing an effective
atmosphere across the company if leaders follow the principle of behaviour of leaders. In this
scenario, “Marks & Spencer” is aware of the fact and they always maintain polite behaviour with
their employees in order to increase their motivation and job satisfaction level so that they can
contribute towards the organizational goal accomplishment in better manner. The retail industry
is decreasing by 1.8% so the “Marks & Spencer” must use performance measurement so that
they can develop and accelerate their organizational productivity and market position in an
effective manner.
Analysis on the procedure for achieving strategies in Marks & Spencer along with
examples
It has been experienced at several different instances that vision regarding M&S need to provide
adequate and innovative products or services so that they can satisfy the overall need of their
entire consumer base at certain extension. In order to do so, they can conduct effective feedback
collection system so that they can reduce the overall negative mentality of their entire consumer
base regarding buying different products at certain extension. It has been observed that at the
year of 2018 their overall sales has been increased by at least 5.4% if they decides to increase the
overall proficiency level of their entire departments.
In addition to that, they can also use democratic leadership style, which will ultimately help them
at experiencing adequate improvement at the sector of product selling at certain extension. In
addition to that, application of the particular leadership style might also be extremely helpful
towards improving their overall process of conducting effective business practices at certain
extension. Due to lack of consumer satisfaction and some, the factors it has been observed
radically that at the year of 2015 their overall sales margin from fashion related products has
been decreased by 1.5%. Despite the fact that their overall sales has been increased by 5.2%,
which clearly indicates the fact that only their overall market of fashion accessory has been
decreased.
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This organization has the aim and objective of increasing their overall sales by at least 20% by
the end of 2020, which they can obviously do by implementing democratic leadership style.
Moreover, it has also been experienced that the lack of proper management body and other
personal it is needed to consider the fact that organizations like M&S need to make some
international role for enhancing their overall capability regarding influencing the overall
consumer base at fat greater and bigger extension. Business expansion is not only associated
with just expansion of the total number of stores as it is much more than that.
Building up interpersonal roles might also be extremely helpful towards minimizing a range of
different problems that might be raised due to different problems at far greater extension. It has
been observed that consumers of M&S are failing at buying products while sweeping cards.
Therefore, it is essential for them to hire such an IT professional who will solve these problems.
Recommendation for further improvement
Organizations like M&S need to follow some transformational leadership theory so that they can
understand the currently changing behaviour and preference of an entire consumer base while
minimizing the negative effects that are closely associated with negative consumer behaviour.
Moreover, the manager is needed to make more focus into different things such as interpersonal
roles, which will ultimately be extremely helpful at make effective communication with the
entire employment and consumer base (Ali et al., 2018). Moreover, continuous review of
employee performance can also be extremely fruitful towards getting prefabricated competitive
advantage. I can also be helpful at enabling adequate reputation at their existing market sector.
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