Stakeholder Relationship and Engagement Report: Marks and Spencer

This report provides a comprehensive analysis of Marks and Spencer's stakeholders, focusing on their influence and engagement strategies. The report begins by identifying the different stakeholders, including both internal (employees, managers) and external (customers, suppliers, government) groups. It then explores the relationships between these stakeholders and how they impact the company's business practices and decision-making processes. The analysis delves into how Marks and Spencer engages with its stakeholders, highlighting the methods and strategies employed to manage these relationships effectively. The report also examines how stakeholder engagement influences the company's performance and profitability. Finally, the report concludes by summarizing the key findings and emphasizing the importance of stakeholder management for business success. The report utilizes several academic references to support its claims.

PROFFESIONAL
DISCUSSION PAPER

Table of content
• Introduction
• Stakeholders of Marks and Spencer
• Relationship and influence of stakeholders
• How Marks and Spencer engages with stakeholders
• Conclusion
• References

Introduction
There are different stakeholders that play an important role in organisation and influence
over decision of organisation. Business stakeholders are classified into internal and external
such as employees, owner, government, communities, customers and many more. This will
lead to have direct impact on operational decision of business. Chosen company for this
presentation is Marks and Spencer.

Stakeholders of Marks and Spencer
A stakeholder can be defined as a person or group of people who have an interest in the
different activities of a business and also possess power of influencing the same. There are
different internal as well as external stakeholders within an organisation. If the company
engages more with its different stakeholders, it will be able to reduce the risks associated
with a project that can affect its overall performance.

Cont.…
The different internal as well as external stakeholders of Marks and Spencer are explained
below.
• Internal Stakeholders
• External Stakeholders

Relationship and influence of stakeholders
Stakeholders will lead have affect have influence over the decision taken by company
which performing task as well as impact on its business practices. Internal and external
stakeholders influence or relationship with business practices are mention below -
• Internal stakeholders – This refer as the group of people who are directly related to
business and involved in operational process of Marks and Spencer.

Cont.…
• External stakeholders – There are different external stakeholders of business such as
government, customers, suppliers, communities and so on. This will have impact over the
business production and performance. Government has set some rules and regulation
which needs to be followed by company in order to successfully carry out business
practices.

How Marks and Spencer engages with stakeholders
There are different stakeholders of Marks and Spencer and it engages with
different stakeholders in different ways. For this, it is important to first identify
the different stakeholders and then adopt different measures in order to engage
with them in an effective manner. The internal as well as external stakeholders of
Marks and Spencer include customers, employees, suppliers, managers, board of
directors etc.

Conclusion
From the above presentation it has been concluded that stakeholders are crucial
part of organisation and it will have major impact on organisational practices. It
will lead to have influence on decision making process of organisation. Internal
stakeholders such as owner, manager and employees will directly affect business
practices in order to earn more profits.

References
• Arsić, S. and et. al., 2019. Family business owner as a central figure in customer
relationship management. Sustainability. 11(1). p.77.
• Brennan, R., Canning, L. and McDowell, R., 2020. Business-to-business marketing.
SAGE Publications Limited.
• Gaganis, C., Pasiouras, F. and Voulgari, F., 2019. Culture, business environment and
SMEs' profitability: Evidence from European Countries. Economic Modelling. 78.
pp.275-292.

Thank You