Marks and Spencer: Impact of Internal and External Factors

This report examines the internal and external factors influencing the business operations of Marks and Spencer (M&S), a British multinational company. Internal factors discussed include resource and financial management, and the importance of sustainability strategies. External factors analyzed encompass competition, exchange rate fluctuations, and inflation rates, highlighting their direct impact on profitability and market performance. The report emphasizes the need for M&S to adapt its strategies to maintain competitiveness in the face of these external pressures, including innovation in products and services to sustain growth and revenue. The analysis underscores the importance of understanding and managing both internal resources and external market conditions for long-term business success. The report references academic sources to support its findings.

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External factors are said to be those factors which influences
situations along with other circumstances that perform in a
business and which cannot be taken under control as it could
affect business environment in terms of their decision making
of their owners along with stakeholders. There is a wide
amount of external factors which could create an impact of
potential of business in terms of achieving their goals .While
internal factors are generally defined to those factors that are
in company along with they are under control so they could
be tangible as well as intangible. This report is based on
business and practice of identifying internal and external
factors of Marks and Spencer which is a British multinational
company that deals in selling out food products, clothing as
well as home products. This report includes external or
internal aspects which could affect company along with
various manners through which company could be capable to
create an impact on the external environment along with
conclusion.
As internal as well as external aspect could create effect on particular business
in a wide way. So it becomes important for companies for identifying them on
regular basis for keeping up their business practices effective in order to
maintain their survival in corporate market generating out profitability as well
as sales. In terms of Marks and Spencer various internal and external factors
which could affect business operations of company are explained as follows:
Explain the relationships of marketing functions to other functional area in organisation
INTRODUCTION Understanding of how external along with internal factors affects Marks and
Spencer
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Internal factors:
 Resource along with money: As by providing out and having a lack
of money in relation to carrying out business operations could directly
generate and impact on operations of business in marketplace of
company. So in that situation it becomes important for companies to
maintain them in a particular amount in terms of handling with
expenses along with hiring of new employees so that effective quality
of product could be provided to customers by carrying out
advertisement In terms of Marks and Spencer company could focus on
using out their sustainability strategies in their marketplace in relation
to building their profits.

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External factors:
 Competition from various companies: As due to
recent competition from various companies there
are various market places that could generate and
impact as well as effect business operations. So in
that situation it becomes necessary for company to
maintain a sense of uniqueness along with creative
factor in reference of company so that they could
be able to deal with competition smoothly along
with profitability could be earned. In terms of
Marks and Spencer company is carrying out their
focus on generating out innovative products in
terms of their product as well as services in their
offerings so that their sustainability could be
maintained in their business market.
Knowledge of various manner by which Marks and Spencer could
generate an impact on external surroundings.
As there are various ways by which company has create an impact on outside
environment. As in order to carry out business operations it is important for
companies to determine external environment that a proper impact could be
provided by increasing out external factors of company in terms of maintaining the
survival in marketplace .In relation to Marks and Spencer various ways through
which company could be able to generate an impact on external environment are
explained as follows:
 Exchange rate fluctuation: As any change that carries in a movement of
exchange rate in terms of currency would generate a direct impact on
companies that could be provided on their products and services in their
global market place of outer environment. It becomes necessary for
companies to keep their fluctuations of currency in a prevented manner so
that their revenues would be generated in an efficient way. In terms of
Marks and Spencer company should keep their focus on maintaining their
currency exchange rate fluctuations so that their economy could be
maintain when by growth operations through increasing their sales
revenue of currency.
 Inflation rate: As present level of information it could generate a direct
impact on rising along with decreasing amount of profit along with cost of
company .As inflation rate could lead to de establish as well as their
economy could be said with the slow economic growth. In terms of Marks
and Spencer company good maintain their focus on identifying various
inflation rates so that their economy should be kept and they could
be able to grow in their external environment.
References
PHAM, D.C. and NGUYEN, T.T., 2021. Factors affecting the internal audit effectiveness of steel enterprises in Vietnam. The Journal of Asian Finance, Economics, and Business .8 (1). pp.271-283.
Ragil, A.A.P. and Kim, K.S.K.K.S., 2021. A Study of Factors Affecting the Performance of Micro, Small, Medium-sized Enterprises in Indonesia. Journal of Social Science .2 (3). pp.235-247.
Rahmi, A. and Ramdhan, D.H., 2021, June. Factors Affecting the Effectiveness of the Implementation of Application OHSMS: A Systematic Literature Review. In Journal of Physics: