Marks & Spencer: Understanding Internal and External Business Factors

This report provides an analysis of the internal and external factors that influence the growth and success of Marks & Spencer, a British multinational retail company. It emphasizes the significance of both internal elements, such as company culture, which the organization can control, and external elements, such as social factors and market trends, over which the company has no control. The report explores how these factors impact the business's profitability and market growth, highlighting the importance of adapting to changing market trends and fulfilling corporate social responsibility. The study concludes that both internal and external factors play a crucial role in the business, requiring the organization to adopt effective strategies to mitigate their impacts. Desklib offers similar solved assignments and past papers for students.

Introduction
Main objective of this report is to better understand the concept
of internal and external factors which will affect the growth and
success of an organisation. It was analysis that internal factors
will affect the business profitability but organisation will have
some control over these factors (Autenshlyus, and et. al. 2020).
On the other hand business have no control over these factors
and they will directly impact the growth of business. For this
report Tesco company is taking into consideration which is a
British multinational retail company founded by Jack Cohen in
1919, headquarter is in UK. This report will include impact of
internal and external factor and impact of organisation on these
factors.
Marks & Spencer And Its Environment
Name of the Student
External Environment
It will include those factors which are available outside the
company and affect the performance of business. It is analysis
that business have no control over these factors (Zhu and Lee,
2021). In context of selected company the factor that effect the
business most is mention below:
Social factor- It refers to an external environment factor which
will include the current market trends, values, changing taste and
preferences of their customers. In context of Marks & Spencer it
is analysis that changing trends in clothing will affect the
profitability of business and also influence they market growth.
It is analysis that company will require to effectively analysis the
changing market trends and innovate new products so that they
will effectively compete in the market (Korzebor and et. al.
2019).
How the company impact its context External Environment
In context of selected company, it is analysis that its products
and operations will also influence the external environment. The
most important impact of selected company is on the society or
social factor of external environment. Company will produce
good quality and stylish cloths for their customers which will
increase the standard of living of people. Along with this
company will effectively fulfill its CSR activity towards the
society such as they will effectively maintain the sustainability in
their business which will positively influence the external
environment (Whaley, 2020).
Internal Factors
These factors are exist inside the organisation and selected
company will have some control over these factors. Various
factors which will affect business are mention below:
Culture- It is an important internal factor which will not only
impact the performance of organisation employees but also
affect the productivity and image of company. In context of
selected company, they are require to take various steps and
majors so that they can promote effective culture at workplace
which will also motivate their employees to do work efficiently
and with their full productivity. It will also assist in maintain a
good image of company in the market (Parkins, 2020).
References
Whaley, A.L., 2020. Ethnicity, nativity, and the effects
of stereotypes on cardiovascular health among people
of African ancestry in the United States: internal
versus external sources of racism. Ethnicity & Health.
pp.1-21.
Zhu, C. and Lee, C.C., 2021. The internal and
external effects of air pollution on innovation in
China. Environmental Science and Pollution
Research. 28(8). pp.9462-9474.
Conclusion
After analyzing the above discussion it is concluded
that both the internal & external factors will play a
crucial role on business. From this report the factors
that affect business profitability and productivity are
analysis. Also it is analysis that an organisation will
require to adopt effective strategy for reducing the
impact of these factors. Other than this it is analysis
that external environment will also affected by
organisation.