Innovation and Enterprise: Analyzing M&S Products and Services Report

This report provides an evaluation of Marks and Spencer's (M&S) innovation and enterprise strategies, focusing on their diet food products within the organizational framework. It examines the strengths of M&S's diet food, such as energy source, promoting a healthy lifestyle, premium quality, and a variety of healthy products. The report also identifies shortcomings, including high costs, potential decline in sales, customer preference challenges, and the perishable nature of the products. Recommendations are offered to enhance strengths and address shortcomings. These include using organic food products, marketing the benefits of offerings, strategic planning, valuing customer feedback, analyzing market trends, reducing supply chain activities, improving product quality, and optimizing resource utilization. The report aims to provide insights into improving M&S's innovation and enterprise approaches within the context of their diet food product line, suggesting strategies for increased sales, customer satisfaction, and sustainable business practices.

INNOVATION AND ENTERPRISE
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK ..............................................................................................................................................3
Evaluation of products and services, their strengths and shortcomings in organisational
framework...................................................................................................................................3
Recommendations for enhancing strengths and improving shortcomings and their
justifications................................................................................................................................6
CONCLUSION................................................................................................................................8
REFERNCES AND BIBLIOGRAPHY..........................................................................................9
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INTRODUCTION
Innovation is a process through which business can replace or improve something with
using new techniques through which value can be increased (Anaya, Dulaimi and Abdallah,
2015). Innovation is a process of creating something new or modifying an existing product
through which the value of products and services can be enhanced. There are several innovation
theories through which factors which create an impact can be identified. Innovation is a process
through which more value can be added to new products and services and value of existing
products can be enhanced. Innovation is a process and outcome of products and services
rendered by business. Marks and Spencer is a British multinational company that deals as a
retailer and is based in London, England. The company provides different services under their
own label which are of various categories, such as clothing, home decor, banking services and
food products. The company was founded in Leeds, UK in 1884 and was established by Michael
Marks and Thomas Spencer. The company provides different services globally. This project
report is based on innovative approaches that are adopted by Marks and Spencer through which
they can enhance business growth and gain competitive advantage.
TASK
Evaluation of products and services, their strengths and shortcomings in organisational
framework
Innovation is a method of developing products, establish new management and use new
methods of production. It help business to attract numerous customers through providing creative
products and services (Babenko, 2020). Marks and Spencer provide variety of products which
can be related to different lines such as clothing, banking services, food products and other
services. There are 959 stores of Marks and Spencer across UK which includes 615 food stores
and the company also offers online food delivery with a variety of 6000 M&S items with the
help of their delivery partner Ocado retail.
The food products that are provided by M&S are takeaway meal, kids biscuits, cakes,
sweets, diet food, tea, coffee, wine, eggs, chicken and variety of ready made foods (Cegarra-
Navarro and et.al, 2019). The company aims to provide quality food products through which
they can meet customer satisfaction and build goodwill in the market. The specific product
which was chosen for conducting this project is “diet food”.
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Organisational framework or structure
Marks and Spencer follows flat organizational structure through which business limits all
levels of management from administrative level and front line employees. This organisational
structure help business in motivating their employee's in making effective decisions. Flat or
horizontal organizational structure is a framework which deals with few or no level of business
among management and employee's working at staff level (Cook, 2016).
The organisation have set several product standards through which a business maintain their
quality of their food products. The company focuses on valuing their customers, their feedbacks
and their stakeholders through which company can build and maintain their goodwill in market.
As due to rapid changing food preferences, company have focused on providing healthy range of
products to meet the customer demand of health conscious customers. The flat organisational
structure help Marks and Spencer to enhance coordination through which all assigned tasks can
be performed effectively. This organisational structure help Marks and Spencer in reducing cost
and form effective decisions through which employee participation can also be increased. This
organisation structure also lacks clarity in job role. This structure also limits the growth of
business which acts as a drawback for Marks and Spencer (Dutz, 2015).
Strengths and shortcomings of M&S food products
Strengths: There are several factors which acts as strengths for food products provided
by Marks and Spencer, some of such strengths are listed below:
 Source of energy- The diet food provided by Marks and Spencer is full of nutrients,
proteins and vitamins. This acts a strength for company as this can attract numerous diet
conscious customers who are health freaks and promote healthy lifestyle. With using all
appropriate energy rich food products, Marks and Spencer use provide focuses on
providing diet food which can be a customer preference and can maintain their loyal
customers within company (Lessem and Schieffer, 2016).
 Promotes healthy lifestyle- By providing healthy and diet food, Marks and Spencer aims
to encourage people to eat healthy and diet food through which they can promote healthy
lifestyle that can enhance living standards. Through using innovative approaches and
strategy, Marks and Spencer introduce variety of diet foods through which business can
promote healthy lifestyle among all customers.
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 Less health issues- Marks and Spencer focus on promoting diet food through which
people will face less health issues and lifestyle can be enhanced. The organisation targets
heath conscious customers through which they can promote healthy living and people
will face less health issues (Lin and et.al, 2020).
 Premium quality- Marks and Spencer aims to maintain quality of their food products
through which they can meet customer satisfaction and cover wide market share which
will help business in enhancing their sales and earn maximum profit. Marks and Spencer
focus on providing quality dietary food products through which they can build customer
trust and maintain goodwill in the market. With the help of innovative strategies and
through monitoring changing customer trends, Marks and Spencer focus on targeting
huge number of potential clients through offering premium quality and numerous variety
of diet foods (Lixin and Jifeng, 2015).
 Variety of healthy products- Marks and Spencer aims to provide wide variety of
products through which they can attract numerous customers and maintain goodwill in
the market share, through this they can capture wide market range. By using innovative
approaches of introducing new variety of products it can help Marks and Spencer in
attracting numerous loyal customers.
Shortcomings: There are several responsible factors which can increase shortcoming for
food products of Marks and Spencer, some of responsible factors are stated below:
 High cost- As the company, Marks and Spencer use products which are of premium
quality through which they can provide good quality of food products which are at high
cost. This acts as a barrier for company to attract and maintain customers due to increased
price. Increased price is a factor which is responsible factor for decline in sale (Mika and
et.al, 2017).
 Decline in sale- Due to increased pricing strategies, Marks and Spencer face huge
decline in sale of their diet food. High pricing strategies make organization suffer huge
loss and it is also a responsible factor for reduction in profits that will be earned by the
company.
 Customer preference- The company, Marks ad Spencer must focus on changing
customer trends and preferences through which they can gain profit, utilize resources,
attract and maintain potential customers. By analysing all customer trends, it can help
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business to maximise resources ad gain profit but due to inefficiency in analysing
customer trends this creates a barrier for Marks and Spencer (Nazarenko, Zaporozhets
and Sergienko, 2015).
 Perishable in nature- All diet foods that Marks and Spencer provide are perishable in
nature and thus it is a factor which acts a weakness of the company. If the company don't
utilize all required resources effectively it will increase wastage and huge loss can be
faced by Marks and Spencer.
Recommendations for enhancing strengths and improving shortcomings and their justifications
There are several approaches through which a business can attract numerous customers
which can increase sale of their products, earn maximum profit and utilize resources efficiently
(Prokhorova and et.al, 2016). Some of the recommendations that can be useful for enhancement
of strengths and through which shortcomings can be improved are mentioned and briefly
explained below:
 Organic food products- Through using organic food products through which they can
make good quality of diet food which can attract health conscious customers and promote
healthy lifestyle can be a approach through which company can also reduce cost and
enhance quality (Shao and et.al, 2020). Marks and Spencer must focus on offering foods
products using organic farming this will help management in reducing logistics cost and
better quality of food products an be offered to all customers through which maximum
profits can be gained.
 Marketing of benefits related to offerings- Through promoting and advertising all
benefits of the products that are offered by Marks and Spencer, it will help organisation
in promoting their products for attracting wide number of customers through which living
standard and sales of business can be increased. Through promoting all diet food product
range, and highlighting their benefits for individuals can help marks and Spencer to
attract clients.
 Through strategically planning all activities- By strategically planning all activities, it
will help Marks and Spencer in reducing cost, saving time and utilizing all necessary
resource accurately and in appropriate quantity. By strategically planning all activities it
will help management in effective execution and use such approaches through which
business can gain competitive advantage. Using strategic planning approach will help
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Marks and Spencer to minimize wastage and use constructive approaches for
manufacturing and promoting their diet food products (Shaosheng, 2016).
 Improve through valuing customer preference and their feedbacks- By taking
customer feedbacks and valuing their preference will help Marks and Spencer to improve
their food products. Marks and Spencer must take feedbacks from their customers about
their existing diet food product range and should focus on the necessary improvement
criteria that are stated by their customers and must take actions through which
improvements can be done (Vézina, Selma and Malo, 2019). Marks and Spencer must
take regular feedbacks from their customers and take corrective measure through which
they can meet consumer demand and make possible changes in the range of their food
products and enhance the quality.
 Analysing changing market and customer trends- By analysing market trend and
through monitoring all changing customer trends and preferences will help Marks and
Spencer to analyse the changing demands and meet the demand by providing products
that are in trend. Environmental scanning is an important factor through which business
can analyse all demands and meet customer satisfaction through which sale of products
can be increased and maximum profits can be earned. Through strategically studying all
market trends and recognizing all competitors can help marks and Spencer in attracting
customers and provide better offers and better range of diet food.
 Reducing supply chain activities through organic production- By using organic
farming, Marks and Spencer can avoid unnecessary logistics cost that have been faced by
organisation. This will help business in minimizing cost, reducing wastage and save time
in utilizing all resource through strategic planning and maintaining quality of all products
and services that are offered by company. Through using organic food production, it can
help Marks and Spencer in saving time through reducing logistic services and
unnecessary transportation cost and services can be avoided (WANG and LI, 2017).
 Through improving product quality- Marks and Spencer must focus on addressing all
customer feedbacks and use of organic food products that will help business in enhancing
food quality of their diet food product range. Customer feedbacks help to gather opinions
and information about new market trends along with complains. This will not only help
to improve existing offerings but aid in developing new competencies. This will provide
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an opportunity to organisation that combat threat of competitors and attract new potential
consumers, so they are able to gain higher market share and customer base.
 Through using effective measures of resource utilization- Marks and Spencer must
analyse customer demand and utilize all resources based on the market demand will help
business in utilizing all resources efficiently and will minimize wastage (Xie, 2020).
Through utilizing resources using constructive approaches can help management to
manage the inventory, use required products and through storing the products an help
organisation in saving the products for longer span of time which will minimize the cost
and will also help management in saving time and logistics related concerns can be
solved quickly.
CONCLUSION
Innovation is one of the major component which affect the growth of business and it can
also help management in attracting numerous loyal customer to their brand. Through using
innovative approaches in introducing new products can help management in making effective
decision, save cost, reduce time and reduce all unnecessary wastage. Innovative approaches of
management can help business in utilizing all resources effectively can also help management in
managing all inventories and stock through which waste can be reduced. Innovative approaches
for management of stocks and forming decision which are helpful for the growth and success of
organisation can be taken. By analysing the customer demand and changing market patterns will
help Marks and Spencer in meeting customer demand and provide maximum customer
satisfaction.
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REFERNCES AND BIBLIOGRAPHY
Books and journals
Anaya, L., Dulaimi, M. and Abdallah, S., 2015. An investigation into the role of enterprise
information systems in enabling business innovation. Business Process Management
Journal.
Babenko, V., 2020. Enterprise innovation management in industry 4.0: modeling
aspects. Emerging Extended Reality Technologies For Industry. 4. pp.141-163.
Cegarra-Navarro and et.al., 2019. An open-minded strategy towards eco-innovation: A key to
sustainable growth in a global enterprise. Technological Forecasting and Social Change.
148. p.119727.
Cook, P. J., 2016. Leading innovation, creativity and enterprise. Industrial and Commercial
Training.
Dutz, M. A., 2015. Resource reallocation and innovation: Converting enterprise risks into
opportunities. In Intangibles, market failure and innovation performance (pp. 241-290).
Springer, Cham.
Lessem, R. and Schieffer, A., 2016. Integral research and innovation: Transforming enterprise
and society. CRC Press.
Lin, R. and et.al., 2020. Improving high-tech enterprise innovation in big data environment: a
combinative view of internal and external governance. International Journal of
Information Management. 50. pp.575-585.
Lixin, W. and Jifeng, M., 2015. Enterprise Information Management Innovation
Research. Electronic Test. p.11.
Mika, J. P., and et.al., 2017. Perspectives on indigenous entrepreneurship, innovation and
enterprise. Journal of Management & Organization. 23(6). pp.767-773.
Nazarenko, A., Zaporozhets, D. and Sergienko, E., 2015. Features of innovative activity
motivation in enterprise structure. In Social and economic innovations: trends, forecasts
and perspectives (pp. 160-164).
Prokhorova, M. P. and et.al., 2016. Innovation performance and its influence on enterprise
economic efficiency in the market. International Journal of Economics and Financial
Issues. 6(8S).
Shao, S. and et.al., 2020. Environmental regulation and enterprise innovation: A
review. Business Strategy and the Environment. 29(3). pp.1465-1478.
Shaosheng, L., 2016. The Evolution and Innovation of Enterprise Operation Management from a
Disciplinary Perspective. Journal of Ocean University of China (Social Sciences). p.05.
Vézina, M., Selma, M. B. and Malo, M.C., 2019. Exploring the social innovation process in a
large market based social enterprise. Management Decision.
WANG, S. and LI, L., 2017. Research on Estimating of Integrated Management Level of
Enterprise Business Model Innovation Risk. Science and Management. 3(5).
Xie, Q., 2020. Research on Enterprise Culture Innovation and Enterprise Technology
Innovation. Design Engineering. pp.685-690.
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