Business Operations Analysis: Marks and Spencer Report - Module ABC

This report provides a comprehensive analysis of Marks and Spencer's business operations, covering various aspects such as accounting, HR functions, and financial performance. It includes an examination of the importance of accounting for business success, outlining its role in evaluating performance, managing cash flow, and ensuring statutory compliance. The report further delves into the functions of the HR department, emphasizing its role in hiring skilled workers, managing employee relations, and providing training. It also presents a profit and loss account for Marks and Spencer, along with an assessment of the roles of team members, leadership styles, and motivational theories in influencing workers and achieving business objectives. The report concludes by highlighting the significance of understanding the business environment and its internal and external factors, along with the importance of following employment legislation for sustained success.

How business operate

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Covered in PPT...........................................................................................................................1
TASK 2............................................................................................................................................1
2.1 Importance of accounting for business success....................................................................1
5.1 Functions of HR department in business..............................................................................2
5.2 Key features of employment legislation...............................................................................2
TASK 3............................................................................................................................................2
3.1 Profit & Loss Account for Marks and Spencer.....................................................................2
TASK 4............................................................................................................................................4
4.1 Role of team-members and own...........................................................................................4
4.2 Notes which can be used to support future training events ..................................................4
4.3 Role of leadership and motivational style in context with different situations.....................5
4.4 The way leadership style and motivational skills are used to influence workers.................5
TASK 5............................................................................................................................................5
Covered PPT...............................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
To operate any kind of business, it is important for company to effectively understand the
business environment and its internal and external factors because both are directly affect the
operational activities of the business (Trevino and Nelson, 2016). Thus, it is vital for
organization to learn about the market trends and entire components such as laws, technologies,
social environment and many more. Along side this, there are various sections that are present in
both public and private business firms and have their own responsibilities and these are: HR,
Finance, Production, Research and development and so on. Marks and Spencer which is a
famous retailer that deals in clothing and other sectors has been taken under this assignment.
Talented manpower of a company may aid firm in gaining good competitive advantages at
marketplace.
TASK 1
Covered in PPT
TASK 2
2.1 Importance of accounting for business success
Accounting is an important process by which company maintain their day to day
operational activities. It includes all the financial data to attaining better profitability level at
market place by summarized as well as analysed all the records and data. Along with this,
business accounting is one of the important activity for company because it define quantitative
data in front of investors. In this, there are some importance of accounting are as follows: Evaluating the overall performance of the company: Accounting define the financial
statement in which company formed balance sheet which may leads in determining
overall profit and loss. This will aid in analysing the growth of the company at market
place. Managing and monitoring cash flow: Accounting will helps in providing the overall
performance of the company in relation to cash and capital as well. With the help of this
company monitor all the accounting system in most effective way (Aronoff and Ward,
2016).
 Help business to be statutory complaints: In this, company easily prepare an effective
budget as per market trends and customers needs.
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5.1 Functions of HR department in business
Human resource department play important role in every business organization as they
formulate effective process and facilities within the company to attain better results. Basically
the main aim of HR department is to hire skilled and capable workers for their business
organisation to enhance profitability level. Along with this, manager also monitor entire business
activities and workers which may leads in improving the overall performance of the company
and workers as well (Finch, 2016). They also provide better raining and development programs
to their workers as per their needs so that they effectively perform their duties. Apart form this,
manager also tries to manage healthy relation with workers so that they easily attain set goals and
objectives in appropriate time frame. Thus, human resource department is more important for
business as they select skilled and eligible workers in order to attain better success at market
place.
5.2 Key features of employment legislation
It is more important for business organization to follow all the rules and regulation of
government authorities at the time of operating their business. Along with this, it is necessary
that company follow ass the laws such as anti discrimination act that helps in protecting the
workers from discriminated as per gender, age, caste and many more (Demuijnck and Fasterling,
2016). On the other side, health and safety acts also important to followed in which company
provide safe work environment which may leads in improving the performance level of the
workers. In context of Marks and Spencer, they follow all the legislation which may leads in
attaining positive success at market place and at the same time also get workers loyalty for
longer period of time. This will assist them in attaining strong position at market place. For better
sustainability of workers company also give flexible working hours to its workers with fair
salary. This will aid in enhancing the productivity level at market place.
TASK 3
3.1 Profit & Loss Account for Marks and Spencer
Profit and
loss
statement
of Marks
and
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Spencer
Revenue 04/01/17 04/02/16 3/28/2015
Total
Revenue 13282300 14976700 15341400
Gross Profit 13282300 14976700 15341400
Operating Expenses
Operating
Income or
Loss 316600 828800 1043400
Income from Continuing Operations
Total Other
Income/Exp
enses Net 45300 29900 23100
Earnings
Before
Interest and
Taxes 361900 858700 1066500
Interest
Expense 141300 165200 173800
Income
Before Tax 220600 693500 892700
Income Tax
Expense 75900 119800 176000
Minority
Interest -7400 -2600 -1200
Net Income
From
Continuing
Ops 144700 573800 716700
Non-recurring Events
Net Income 144700 573800 716700
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Net Income
Applicable
To Common
Shares 144700 573800 716700
As per mentioned table it has been evaluated that the total revenue of company is
13282300 in 2017 which is lesser form previous years. And the same hand the income of the
company is 144700 which is also lesser as compare to previous years.
TASK 4
4.1 Role of team-members and own
Team is an important factor which contribute in overall success of the company and at
the same time also attain set goals and objectives. In a team, every single people perform their
activities for attaining common end results which may leads in maximizing the profitability
level. In this every people having specific roles and responsibilities as per their skills and
capabilities (Foss and Saebi, 2017). By this they easily perform their activities with the purpose
of attaining desirable targets. In a team, my role is to provide better guidance and prepare
marketing strategies for increasing the chances of attaining maximum benefits. Along with this, I
also take feedback and views form the workers in relation to the work so that I easily implement
in the organization with the purpose of improving their performance which may leads in
maintaining the healthy relation at workplace.
4.2 Notes which can be used to support future training events
For attaining positive results, it is vital for business organization to build an effective as
well as strong team. For attaining the same, there are some steps which may leads in developing
better team in most effective manner:
Stages of team development
This theory is one of the effective hypothesis which include four stages such as forming,
storming, norming and performing. All these are help in development of the team which may
leads in attaining set goals and objectives in appropriate time frame. With the help of this Marks
and Spencer develop strong team which perform with the aim of achieving desirable goals and
objectives.
Different types of motivational theories
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Motivational theories: These hypothesis are also important for motivating workers at the
time of performing their duties and activities (Chung, Yang and Huang, 2015). For achieving
better growth level every workers wants to better motivation in which company provide them
services and motivation to enhance their performance level at workplace. In this company can
use Maslow's need hierarchy needs theory, Herzberg's motivation hygiene theory and
McClelland's need theory. All these are helps in improving the performance level of the workers
which directly contribute in accomplishing desirable goals and objectives.
Different kinds of leadership styles
Marks and Spencer follow different kind of leadership styles at the time of operating their
business in most effective manner. It includes democratic, autocratic and laissez-faire style. This
will aid in enhancing the workers involvement within the company.
4.3 Role of leadership and motivational style in context with different situations
For operating business, it is necessary for company to understand current marker
situation and accept all the changes in effective manner. In this context, Marks and Spencer use
various motivation theories at workplace (Carayannis, Sindakis and Walter, 2015). In this
context, company adopt Maslow hierarchy theories for motivating workers at workplace. With
the help of this company also determine the basic needs which is related with
physiological, safety needs. As firm provide all the basic needs to workers. Along with this,
esteem and self actualisation needs also helps in motivating workers to attain better results at
workplace.
4.4 The way leadership style and motivational skills are used to influence workers
Leadership styles are also play important role in accomplishing their goals and
objectives. In context of Marks and Spencer use autocratic and democratic leadership styles as
per market trend and workers demand (Buhmann, 2016). With the help of this worker effectively
perform their task in an appropriate way. It also helps in influencing the workers to perform well
at workplace in order to attain set targets.
TASK 5
Covered PPT
CONCLUSION
From the above mentioned report, it can be concluded that it is important for business
organisation to consider all the factors at the time of operate the business in effective manner.
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With the help of this company attain set goals and objectives in appropriate time frame. Along
with this, various motivational theories and leadership theory is also used by business
organization to improve their performance level at market place.
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