Innovation and Future Capabilities for M&S Retail Business Report

This report provides an in-depth analysis of Marks & Spencer (M&S) and its approach to innovation within the retail industry. It begins with an executive summary highlighting the importance of innovation for business success and growth, particularly in gaining a competitive edge and expanding the customer base. The report then examines the future of the retail industry, identifying key trends such as robotic services, staff-less stores, and the adoption of technologies like drones for delivery. It also addresses the challenges M&S faces, including intense competition and external factors like the COVID-19 pandemic. The core of the report focuses on M&S's innovation requirements, emphasizing the need for a skilled workforce, clear goal-setting, effective management, innovative leadership, and robust financial resources. Furthermore, it details how M&S can build its future innovation capabilities through effective leadership styles, strategic procedures like employee training and development, and a supportive organizational culture. The report concludes by emphasizing the importance of continuous research and development in maintaining a competitive edge and adapting to future market demands. It provides a comprehensive overview of M&S's innovation journey, offering valuable insights into the strategies and capabilities needed for sustained success in the dynamic retail sector.

AT YOUR CHOICE AN
ORGANIZATION

Executive summary-
Innovation open new ways for the success and rapid growth of many companies. The
current study has highlighted benefits of adopting this element that M&S has gained in term of
gaining competition benefits within industry and increasing potential customer base.
Furthermore, the report defined requirements that firm has made and efforts to innovative in the
future that is essential and beneficial too for its continuous growth in retail sector.

Table of Contents
INTRODUCTION.....................................................................................................................................3
Purpose....................................................................................................................................................3
TASK..........................................................................................................................................................3
Future of industry 2021 and beyond........................................................................................................3
Organizations innovation requirements 2021 and beyond.......................................................................5
Building future innovation capabilities for M&S....................................................................................6
CONCLUSION........................................................................................................................................10
REFERENCES........................................................................................................................................12

INTRODUCTION
Innovation is the key element of excellent growth and success of companies who adopt it
and implement their practices related to it. It is one of those procedure through which a company
take initiative to introduce something new in term of service or product that their target
customers prefer to buy and tend to purchase it from longer time period. Innovation contribute to
increase profitability of brands and bring more advantages to each. The current assignment will
be based on M&S, which falls under the category of leading retailers in the United Kingdom as it
sells several category of items. The study will define important information about retail industry
in which chosen brand had operated with key resources and using each according to business
environment.
Purpose
The aim of this study is to explain future of sector, and companies’ innovation needs in
2021 and beyond. It will justify usage of procedures and other things to build future creative
capabilities of chosen company. The main motive of this report is to define the initiatives of
M&S in the context of innovation. It will highlight the process of building organizational
abilities in regard to innovation that provide benefits currently and further.
TASK
Future of industry 2021 and beyond
Retail is one of the most developing and progressive industries in the United Kingdom. It
may continually take initiatives to enhance its productivity and improve quality of goods, which
is beneficial for its continuous growth in the world of business. The future of industry in 2021
and beyond may affect due to certain factors that discuss below;
Retail sector future innovations-
In term of further creations, retail industry may adopt creative things and approaches to
retain potential customers for longer and gain the attention of new. Robotic services within
sector may the best example of future innovation that put positive impact on business
productivity and operational efficiency. Organizations such as M&S and other may adopt this
concept in effective manner that help to gain in the future competitive advantages (7

TECHNOLOGY TRENDS TO RESHAPE THE FUTURE OF RETAIL INDUSTRY, 2021). Staff
and cashier less stores are another innovation that retail industry in the future may adopt and
gain several advantages through it for longer period of time. Management may consider this
valuable element by using IOT devices, such as Just walk out system, which allow customers to
pay for their purchase by using internet directly to an organization account, without waiting for
too long in a que to pay bill in the context of grocery and other items purchase.
Key trends-
Just like future innovations, further trends may also affect growth and success of M&S in
same way. For example, instead of workers, in the future companies within retail industry may
utilize drones to delivery products at home of consumers. This trend may give unforgettable
experience of target market and unexpected advantages of sector in return of obtaining those
objectives which management seek to achieve for long time (DELIVERY DRONES MARKET -
GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 - 2026), 2021). Veganism
is another market trend that people adopt currently and continue their life with it in term of
purchasing products accordingly. It contributes to get industry successfully and productive as
well as profitable. Online shopping is also included in category of future trends that may allow
management to increase and build wide customer base. In 2021 and far years each trend may
make sector more gainful.
Challenges present for M&S-
High intense competition within retail industry is one of the biggest challenge that may
put negative impact on M&S as it operates under it for so long and manage venture activities by
conducting ethical business practices (Pantano and et.al., 2020). It leads to put a lot of pressure
on management in term of making changes within existing strategies and plans regarding
production and other business operations through which firm may efforts to satisfy their
consumers. Furthermore, any kind of environmental change such as Pandemic in recent and
further duration within sector may possess greater threat or challenge for organization, which
they attempt to overcome by developing effective methods and following further guidelines
regarding it. COVID-19 is one of those external factors that may change everything from trade
policies to production or product offering practices of companies like M&S.

Organizations innovation requirements 2021 and beyond
Each organization while conducting their practices to achieve aims and operating
ventures into retail industry may expect or require to obtain certain things in term of resources,
which made them capable to retain, satisfy and attract customers as well as to offer something
new to each in way of innovation. In the world of business, there are variety of assets available
that a firm may use to develop their innovation abilities that help to meets key challenges, just
like above two.
Experience and knowledgeable workforce-
The process of innovation development is not that easy to conduct into practical manner,
M&S may require skilled, knowledgeable, experience and talented employees regarding
procedure who may have ability to enhance organizational capability in regard to overcome each
challenge such as intense competition (Riana and et.al., 2020). This requirement may allow
Marks & Spencer to achieve strategic goals and business objectives in effective way, which is
important for workers to do so while performing at workplace by following directions of leaders
and managers.
Aim setting-
It is significant for companies to take initiatives to set effective and clear goal, which
drive their attention and efforts of productive teams of player towards meeting challenges by
developing innovation and capabilities of individual person regarding this (Fischer and et.al.,
2020). It is another requirement that organizations tend to fulfill to develop their innovation
abilities and obtaining expected outcomes within retail industry. It can be said that innovation
objectives and aims encompasses greater extent of uncertainty more than a common venture
goals which purpose is to predictable and quickly accessible further improvements.
Effective management-
Without effective administration and usage of specific management style, retailers such
as M&S may unable to develop their innovation competencies (Hock-Doepgen and et.al., 2021).
So it is clear that in order to be competitive and innovative, a firm may require to have effective
management, which made it capable to manage the performance and productivity of each

operation and drive their all efforts towards creation that help to meet challenges in term of
overcome their negative impact on progress and success of ventures.
Innovative leaders-
In list of organizations requirements related to innovation, this element is also included
that help to handle each issue and deal with complicate circumstance (Gharama, Khalifa and Al-
Shibami, 2020). In term of creative leaders, individual may contribute to enhance organizational
capabilities to become an innovating brand that have power to satisfy people and overcome the
situations like pandemic that has affected whole world in negative manner and decrease
economic growth, which may directly and indirectly be affecting business sectors. Leaders may
develop capability of a company to innovate new goods and services as well in the future and
beyond 2021, by providing appropriate directions and leading teams at workplace.
Good financial source-
Innovation is beneficial component, which enterprises may use by having key resources
that allow them to conduct each activity related to offer unique and creative item or services to
individual customer. A company may require to utilize appropriate source of funding or strong
financial base, which is important to have because it made them capable to develop innovation
capabilities to handle problems that retail industry may face. In term of funding method, M&S
may use agile investor or bank loan service. Just because of good financial base and appropriate
amount of money, firm may achieve its future objectives and strengthen business capability in
term of hiring talented candidates.
Building future innovation capabilities for M&S
The process of building future innovation abilities for Marks and Spencer consist certain
elements that contribute to make firm successful and sustainable further within retail industry
(Mikalef and Krogstie, 2020). For company that may take initiative to build an effective
innovation competence or looking to make more discipline to gain competitive edge in future,
several components may accessible that are;
Leadership-

In order to develop future innovation capabilities for M&S, it is quite necessary to adopt
effective leadership styles, because in term of valuable element it help to strengthen firm even
better than last year and allow to be competitive for longer by offering innovative services and
products that its target customer may prefer to purchase (Khan and et.al., 2020). Leadership refer
to action of leading a team of workers or a company like chosen one. With this action, brand may
obtain several advantages currently and in the future as well. It may play vital role in success and
rapid progress of business. By using transformational, situational and democratic leadership
styles, leaders within M&S may contribute to build strong groups of member who may support
to make firm productive and innovative in the future. They may help to enhance innovation
ability of company further, which drive their efforts to give tough competition to its key rivals
that also run and manage their ventures into similar market or sector from so long.
Leadership style may support to stimulate innovation in firm and drive attention of
workers to make their contribution within this procedure that is beneficial for business and
individual growth. It moves leaders towards creating clear vision and innovative idea that Marks
& Spencer may adopt and be capable to innovate. Furthermore, they also help to guide workers
how may take part in overall business aims and allow firm to achieve its set goals in term of
making it capable to do so. Motivation is the main element of leadership through which it may
support people to stay competitive that enhance organizational innovation capability.
Procedures-
Just like above approach, management within M&S may also efforts to select and use
other methods as well and conduct these practically in term of processes, which contribute in
building the future innovation competencies for company. In form of procedure, management
may efforts to develop plan regarding employee selection, recruitment, training and development
that directly help administration to build innovation capabilities for Marks and Spencer. For
example, new candidate selection allow firm to use the creative skills of workers regarding
innovation. It made business capable to be creative in the future.
Furthermore, training is another process that leader may lead and handle each activity
related to this, in term of providing each candidate right direction, information about importance
of skills and teaching them how to develop each. It may allow them to build further innovation
capability of M&S. It may help employees to build their competencies and knowledge which

they may use to innovate some new item or service that firm may sell further and gain profits
through it.
Moreover, management may effort to build skilled research and development teams who
may conduct market research and collect useful data that also permit M&S to be innovative by
using information and conducting practice accordingly in term of offering products according to
people needs (A Roadmap for Building Corporate Innovation Capabilities, 2021). This
procedure may support to prioritize all efforts of workers appropriately. Continuous research &
development may provide unexpected benefits to organization in term of collecting useful
information that utilize in the future to gain profit and key benefits effectively.
Organizational culture-
Marks & Spencer along with above initiatives and approaches, may effort to create
innovative environment or culture at workplace that may build future creation capabilities for
chosen company. It may willing to accept creativity and this element may help to do so, in term
of driving the attention of employees towards creating innovative idea and conducting it into
practical manner, which is quite important and beneficial for brand (Vizano and et.al., 2020). By
creating innovative organizational culture, leader’s may enhance capability of firm to innovate
new service such as staff and cashier free payment system at outlet for which skilled employees
who may able to create something new at workplace. Organizational culture is defined as set of
expectations, activities and values that guide and influence action of all groups member. It may
consider as promoter of innovation that firm a lot further and currently. It may directly influence
worker’s performance through company may innovate. For example, by using their power,
management and leader may create productive and innovative, business environment in work
area where many candidates may perform together for achieving goals and objectives of brand.
Creative culture may put positive impact on workers and venture performance through
which M&S may innovate and feel capable to do so appropriately and effectively. It may
successfully influence innovation abilities of organization and permit manager to make it even
better than last few years. Invention is one of those factors that affect long run success of
enterprise in the high competitive retail market currently. By creating creative ideas people can
achieve greater outcomes and fulfill expectations of authority.

Business strategies-
Without forming and using effective tactic, it is impossible for Marks & Spencer to be
strong in the future to innovate new goods and services that help gaining competitive advantages
and obtaining competitive position for brand further. In term of strategy, management may
efforts to define objectives and goals among workers or groups of people that is useful and
important for brand success forever. It is necessary for leaders and managers to form appropriate
tactic that they may utilize further to strengthen venture for making innovative things and always
stand in market whether it is national or international as creator, which in return may gain the
attention of profitable and potential buyers. Business tactics contribute to gain further benefits in
term of increasing profitability, customer base, productivity and performance level (Schiavi and
et.al., 2020).
Furthermore, M&S and management may develop strategy to adopt new technologies
that they both may use to gain future advantages in term of competitive edge and reach at global
extent, where success and productive chances is greater than existing. This tactic may contribute
to enhance organizational capability and power to satisfy customers by offering innovative items
like vegan food products. It may drive the attention of company to develop strategy such as
making change in existing workplace by developing effective design where individual employee
may prefer to perform for longer. It strengthens firm competencies to become innovative brands
in the retail industry, which help in the context of reaching business at competitive position,
which is significant to reach at. By doing so, organization may sustain for longer in sector.
How competencies need to adapt and path to show stages to prepare firm for readiness of
its future innovation development-
There are many capabilities may discuss above in term of leadership, selection and
recruitment, etc. that M&S may adapt to gain competitive advantages in term of creating
innovation in the future. Organization may strengthen leader, by accepting transformational and
other suitable leadership styles that help in increasing business productivity and performance
level of employees. Furthermore, management may adapt recruitment capability in term of
developing effective plans and strategies with the help of making discussion with Human
resource department who able to hire and select right candidate to perform specific role that in

development of future innovation by working in productive manner, without making any
mistakes.
Marks and Spencer may accept another capability and that is creating effective and
creative culture at workplace, for which leader’s strategic directions and suggestions play vital
role. It is so important for a leader to guide and direct each candidate according to their needs
and task requirements that enable them to complete each task on time and allow to be innovative
by obtaining innovative directions.
By conducting each above practice and taking training method into their consideration,
management and leader may make organization ready to innovative in the future and beyond as
well. It help in varied manners and contribute in several terms.
CONCLUSION
On the basis of above analysis, it has been concluded that by adopting innovation
concept, retail industry and organizations that had operated under it has gained competitive
advantages in varied terms. It has increased profitability, productivity and performance level as
well as enhanced operational efficiency, which is incredible. Along with this, companies by
considering future trends and innovations related requirements in the market, has modified their
practices and developed new strategies that has also contributed to maximize profits margin and
supports to reach at global level where key customers with their clear intentions to purchase
quality items from well-known brands like chose one existed. Furthermore, from above
discussion, it has been identified that by collecting and gathering information about everything
required to innovate new item or service, firms has builds their ventures strong and enabled them
to give tough competitive to each other.
Each company has overcome the key challenges that exist within retail industry by
building productive and effective teams at workplace, by conducting continuous and appropriate
market research and by doing more efforts that are valuable and beneficial for their unpredicted
success from domestic to international platforms, where brands has reached successfully by
taking varied initiatives. Moreover, by summing up above description, it has been determined
that by using transformational, democratic and situational leadership styles, leaders have
productively contributed to build future innovation abilities of organization, through which it has

grown even better than last few years. It has made workers much stronger than its rivals
workforce by providing training to each that had increased their productivity and performance
level and then organizational operational efficiency as well. It has gained top competitive
position in the market, by creating and driving attention of employees towards creativity at
workplace that has allow them to obtained desire outcomes in the future.