Essay on Business Functions: Leadership and M&S Analysis

This essay provides a comprehensive analysis of Marks and Spencer's business functions, focusing on leadership, time frames, and the impact of changes on the organization. It explores the critical role of leadership in motivating employees and adapting to the dynamic business environment, particularly in the context of increased competition and evolving consumer preferences. The essay examines the influence of external factors, such as political, social, technological, economic, and environmental (STEEP) factors, on Marks and Spencer's strategic direction and operational performance. It also delves into the importance of stakeholder management, including customers, suppliers, competitors, and employees, and the significance of organizational culture in shaping employee behavior and business practices. The essay highlights how Marks and Spencer adapts its strategies to align with market demands and maintain a competitive edge in the retail industry.

Business Function Module

ESSAY
The concept of business functions is referred to as the process that is being carried out as
a part of mission of the firm. There is greater role in carrying out the business function of the
organization with greater effectiveness as they assists in attainment of success by the firm to
significant level (Prigent and et.al., 2016). The functions of the firm is comprised of activities
that relates with production, purchasing, research and development, human resource
management as well as accounting and finance. The present essay business function integration
has been discussed in relation to Marks and Spencer. The essay covers discussion on the
leadership, time frame as well as changes and the manner in which they affects the firm.
The concept of leadership is referred to as the quality of individual behavior wherein they
offer guidance to the people or their activities within organizing efforts. In other words
leadership is considered as the ability of the superior towards inducing the subordinates for work
with confidence as well as zeal. Leadership is one of the essential element related with directing
function of management. The role of leadership has become important in situation when the
organized group of people are carrying out performance towards the attainment of a common
target. The power of leadership is considered as the power of integrating. For organization like
Marks and Spencer leadership is important as it stimulates what is the best and has focus on what
influencing the behavior of the subordinates so that they can carry out the performance within
the firm with greater efficiency. The procedure relating with leadership is the one that affects a
group in a specific condition at a particular duration of time that can stimulate the individual to
strive willingly for attainment of business objectives and satisfaction through the types of
leadership that is being offered (Bull and et.al., 2016). Leadership can be refereed to as the
position of power that is held by a person that is effective in offering them with the opportunity
to exercise interpersonal influence over the members of group for mobilizing as well as directing
the efforts towards attainment of certain targets. The leader is the one that is at the centre of
group's power structure, keep togetherness within the group and directs towards the goals and
maintain its momentum. In the present era there is increasing competition among the firm
belonging to similar industry thus firm like Marks and Spencer requires qualified personnel who
can perform with greater effectiveness. Thus the role of leadership is important under this as it
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affects the behavior of the individuals in terms that they might not switch to other brand in case
of dissatisfaction.
In the past times the role of leadership was not viewed significant as the people were not
having much options for the purpose of switching in case of dissatisfaction. The individual were
earlier dedicated to work with full zeal and enthusiasm. In the present era with the enhancement
in the organizational structure the role of leadership has increased to a greater extent. The
significance of the leadership in group activity is being over emphasized. There is presence of
organized group of individuals who are working towards common target. With this certain kind
of leadership become important. Though there was concern regarding the leadership from the
old recorded history this has become more acute during the past few decade as a reason of
increasing complexities of the methods of production, higher degree of specialization as well as
social change within the modern organization (Qiu and et.al., 2016). The success of the
enterprise to a greater extent depends on the extent of effectiveness within the leadership. There
is greater importance of leadership in terms that it brings improvement in the motivation as well
as morale. With the assistance of dynamic leadership, managers can bring improvement within
the motivation as well as morale of their subordinates. This in turn affects the organization as the
employees would carry out the operations in an effective manner. The role of leadership is
effective in serving the motive power to the group efforts. It results in assisting the group to
reach at higher level of the performance by the means of persistent efforts and affects the human
relations. Thus this has greater role in terms of increasing their work performance. Thus such is
effective in bringing effectiveness in the overall productivity of the business like Marks and
Spencer. Effectiveness in the leadership assist in offering the basis for cooperation. With the
assistance of effective leadership there is greater increase in the understanding among the
subordinates as well as management . This further leads to increasing their cooperation to a
greater extent (Pestle and et.al., 2015). In the present era there have been greater changes
encountered in the manner in the organization think towards bringing alterations in the earlier
ways of carrying out performance. The role of leadership has increased greatly towards
beginning the work by communicating the policies as well as plans t o the subordinates. This is
because it provides the actual direction from where the work would actually begin.
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There is presence of several external factors that have greater impact on the organization
operations. This has effective role in bringing changes in the strategic direction of the firm as a
reason that changes in the market would compel the firm to bring alterations in its activities to a
greater extent. Over the past 10 years there is presence of immense of factors that have emerged
which have huge impact on the operations of the firm. Organization like Marks and Spencer is
affected by the factors such as political, social, technology, economical as well as environmental
(Lust, 2014). Marks and Spencer is one of the major British multinational retailer that has been
headquartered in Westminster London. The organization has greater number of store that is 766
in UK and 418 across the globe in 40 countries. The organization is being listed on London
Stock Exchange and further it is constituent of the FTSE 100 Index.
The initial factors in the STEEP analysis is social factor. It is considered as the
fundamental that cannot be controlled directly but has impact on the operations of the
organization. Under this the major aspect that is required to be taken into account relates with
cultural, age distribution as well as focus on the concerns relating with environment. The trends
that are existing within the social factor has greater impact on the demand for the products that
are being sold by the firm. Marks and Spencer has modified due to greater extent that is in
accordance with the wants of the customers (Acero and et.al., 2015). The individuals choices of
the attire is being changing since last ten years. Marks and Spencer is making greater efforts
towards improving the clothing line as per the changing taste of the customers. Marks and
Spencer provides opportunity to its customers towards making payment through credit cards.
Another factor is related with technology. It is considered as the most significant aspect
that has greater influence the operations that are being carried out within the organization such as
Marks and Spencer. The evolution within the technology on constant basis assisted the
organization in operating effectively within the competitive markets like retail as well as modern
IT systems. This has greater role towards increasing the productivity of the firm and reduced the
cost of operations (Platani and et.al.,2015). Marks and Spencer is making greater amount of
investment in technology. This towards increasing the effectiveness of the company to a
significant level. For the purpose of reflecting adoption of the technology the customers are
offered with iPads in order to assist the customers in offering greater amount of information
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regarding the product. Such move has assisted Marks and Spencer in integrating its internet as
well as high street offerings.
Next in the series is economic factors that is major determinant of the performance of
economy and has long term impact on the organization. For instance rise in the inflation within
the economy has huge impact on the pr ices of the products as well as services. Fiscal as well as
monetary policy are managed in an appropriate manner as a reason of low inflation and strong
government finances within the country (Rutešić and et.al., 2015). Marks and Spencer needs to
carry out economy analysis. This has greater importance towards considering the state of the
economy within short as well as long terms. The current economic situation within UK is
favorable along with lower to moderate rate of interest. This is considered as the major sign of a
healthy economy.
Another major factor is related with environmental. Marks and Spencer is considered as
one the most sustainable brand existing within the market. The company is getting involved
within the sustainable practices in order to increase its efficiency and reduce the wastage. The
firm has adopted better waste recycling levels (Joshi, 2015). Further it also encourages its
suppliers towards practicing eco-friendly tools and assist them to go green and attain higher
effectiveness.
Lastly the factor that has greater impact on the operations of the firm is political. These
are referred to as the factors that are developed, run and are altered by the regulatory authority.
Such factors reflects level of anticipation by the government within several trades as well as
businesses (Alluru and et.al., 2016). It has been believed by Marks and Spencer that there is
greater importance towards interacting and working with the regulatory authority. This is for the
purpose of protecting the legitimate interest of the organization and devise the policies that
addresses greater objectives of the public.
In order to attain success in the ever changing business environment it is essential for
every organization to conduct an analysis of the business environment and take into account the
factors like organization's micro and macro environment and corporate culture as well as
management strategies. This is effective in assisting the organization to gain competitive edge in
the market place. Mark and Spencer is one of the largest retail organization that possess greater
number of shareholders. This is comprised of customers, suppliers, competitors as well as
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employees who plays effective role in influencing the activities of the organization to a
significant level. The company has greater responsibilities towards its shareholders. As such
they are the own who makes investment in the organization and required good amount of return
for this. This would assist Marks and Spencer in carrying out its operations in an effective
manner. The customers another major stakeholder of the firm. The firm has the responsibility to
offer quality products and services to the customers in order to provide greater satisfaction to the
customers (Cassidy, 2016). Such enhances the sales as well as profitability of the firm to a
greater extent. Marks and Spencer is involved in taking effective care of its personnel by offering
them proper working environment. Thus this has effective role in increasing motivation of the
personnel towards carrying out the work with greater effectiveness.
The culture of the organization is considered as the system of shared assumptions, values,
as well as beliefs that regulates that regulates the manner in which the individual behave within
the organization. Such shared values has greater impact on the individuals within the
organization. Further they dictate the way of dressing, act and carry out performance of the job.
The culture of the business demonstrates the extent of diversity that is existing within the
organization. In the earlier times there was presence of individual within the organization who
belongs to local community. But with the emerge of globalization the firm is engaged in carrying
out its operations in international market. Thus it covers wide range of diverse personnel who
belongs to varied region and background. Thus this becomes important for the business like
Marks and Spencer for not making any sort of discrimination as such would affects the activities
of the business to a greater extent (Saunders, 2015). Further it is essential in terms of increasing
the motivation level among the existing staff to a significant level. Marks and Spencer keep a
track on the culture as it affects the employee performance. Conflicting environment can results
in creating negatively at workplace.
The role of SWOT analysis is effective in demonstrating the manner in which the firm
has changed in terms of its strategies and policies. It portrays the elements that are effective in
demonstrating the strength, weakness, opportunity as well as threats of the company. The major
strength of Marks and Spencer is relating with the higher level of customer loyalty. In addition to
this it possess greater human capital that can assist it in carrying out business activities to a
greater extent. However the major weakness that is being possessed by Marks and Spencer is
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related with unfocused segmentation of the clothing ranges. Along with this it has weaker online
presence that is affecting the sales of the organization. This implies that company is not carrying
out the operation in accordance with the need of the present customers wants. However the major
opportunity that lies for the organization relates with bringing improvement in the clothing
ranges. Further it can focus more over ethical foods. Another major opportunity for the Marks
and Spencer is in emphasizing on the customer segmentation. This compels that firm to bring
alterations within its present ways of working so that it can attain such targets within desired
duration of time (Scott, 2016). In contrast to this the major threat for the firm is conflict among
the shareholders and executives which is affecting the operations of the business to a greater
extent. Along with this the newly appointed top management authority is not able to fit within
the corporate culture. Moreover ineffectiveness in implementation of strategies is considered its
major threat that can affects the business operations to a significant level.
With the application of the porter's five force model greater focus can be made towards
development of the business strategies in an effective manner. The strategies of the firm can be
developed in accordance with the analysis of the porter's five forces. The first major factor is the
competition that is extremely fierce within the retailing sector. Another factor demonstrates the
threat of substitute. Overall there is presence of no substitute to food as well as clothes that
makes the threat of substitute lower. The threat from the new entrant in lower for Marks and
Spencer as greater amount of capital investment us required for setting up successful chain of
stores. The bargaining power of the buyers is high. This is as a reason that there is existence of
greater number of alternatives which have presence of lower cost of switching. In contrast to this
the bargaining power of the supplier is low. Marks and Spencer is regarded as one of huge listed
organization that has greater turnover (Prigent and et.al., 2016). Thus suppliers of the firm wants
their product to reach at shelves of retailer and to attain larger customer base. Marks and Spencer
is not dependent on the suppliers and other stores and its makes sales of the own branded
products. This implies that company makes greater purchase of the raw material rather than
finished products.
There is presence of greater number of business functions that have huge impact on the
attainment of success by the organization. The functions of the business like Marks and Spencer
is comprised of marketing, operations management, human resource management as well as
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accounting and finance. The role played by such acts as a boon for the business in attaining its
pre-determined targets in an effective manner. The role of human resource management is
towards making determination of the personnel that are required in Marks and Spencer for the
purpose of carrying out organizational operations (Bull and et.al., 2016). This has important role
in bringing skilled as well as talented manpower within firm so that business activities can be
carried out with greater effectiveness. In addition to this it has effectiveness in carrying out the
management of business projects in an effective manner.
Another major role is being played by the marketing function. It is considered as one of
the major business activity that assist in making the customer aware about the product. With this
the customers can gain better insight and develop understanding regarding the use of the product.
Thus with this customer can be attracted towards the products. There is greater need of the firm
in making determination of the method that can be used towards assessing the kind of tool that
can be used for the purpose of increasing awareness among the customers. The needs and
demands of the customer can be known by the organization like Marks and Spencer by the
means of carrying out market research (Pestle and et.al.,2015). This assist the firm in attaining its
targets in an effective manner. Thus leads to success of the business in long run course of time.
In addition to this the r ole of finance can be greatly viewed towards increasing the effectiveness
of the firm in making allocation of the funds in different business activities. Thus this can assist
the business like Marks and Spencer in managing its activities and attain success in the market
for long run course of time.
Operations management is effective in making determination of the purchase that is
required to be made by the firm in order to meet the demands of the potential customers. With
the assistance of such the firm can examine the need for the products at any point of time and
offer products instantly (Lust, 2014). Thus is effective in terms of increasing satisfaction among
the customers to a greater extent.
It can be concluded from the study that changes with the strategic direction has emerged
in the present era. By the means of bringing alterations in the services the company is able to
attain its target in an effective manner. The role of business functions that includes finance,
marketing and human resource etc is significant towards attainment of success by the business to
a greater extent.
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