CW1 Portfolio 1: M&S Business Analysis and Financial Reporting

This report provides a comprehensive analysis of Marks & Spencer (M&S), a major UK retailer. It begins by outlining the roles of various organizational departments, including human resources (HR), finance, and marketing, highlighting their functions and contributions to the business. The report then delves into the importance of collaborative working practices, emphasizing their benefits such as increased creativity, improved organizational flexibility, higher employee retention, and enhanced employee engagement. It further examines key factors impacting the business, utilizing SWOT and PESTEL analyses to assess internal strengths and weaknesses, as well as external opportunities and threats, and political, economic, social, technological, legal, and environmental factors. The report concludes with a detailed discussion of financial management and reporting within M&S, emphasizing the significance of financial decision-making, planning, capital management, cash flow management, and risk management. The report references various academic sources to support its findings and conclusions.

CW1 portfolio
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Role of different organizational department................................................................................3
Understanding collaborative working practices..........................................................................4
Demonstrate an understanding of the main factors both internal and external impact to the
business. ......................................................................................................................................4
Demonstrate knowledge of role of financial management and reporting within the
organization. ...............................................................................................................................6
CONCLUSION ..............................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
The business studies refer to the subject which states about the key concepts pertaining to
the various departments of business. In this report, M&S is taken as an organization which is a
large retailer in UK market offering wide range of products. This report provides an insight
about the roles of Finance, human resources and marketing, understanding collaborative working
and the role of financial management and reporting in an organisation.
MAIN BODY
Role of different organizational department
There are different functional departments in an organization each having it own roles which are
stated.
Role of HR: The human resource department of an organization works on managing the work
force of an organization. Its main job is to recruitment the right employee with the required skill
sets (Cascio and Graham, 2016). Along with that, the HR department works on providing
training and development sessions to its employees which will helps in making the employees
familiar with the job which consequently leads to motivating the employees towards works and
also implementing attractive rewards and incentives for employees for boosting their morale.
The HR division of the M&S is effective which results into timely meeting up with the business
requirements.
Role of Finance:
The finance department works on ensuring that the company is having sufficient amount of
funds for the purpose of meeting with the daily requirements of the business. It creates budget
which is useful in effectively allocating sources to the various projects of the organization. In
M&S, the finance division undertakes the responsibility of forecasting the financial figures of
the company based on which the strategies are formulated.
Role of Marketing:
The marketing division works on building up the good relationship with the customers
and the organization which helps in effectively selling out the products and services (Edeling,
Srinivasan and Hanssens, 2020). In M&S, the department works on various aspect like
undertaking market research, implementing promotion and branding activities and so forth.
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Understanding collaborative working practices
Working in team is a way more effective in accomplishing the results in comparison to
the people working on individual basis. Some benefits of it are given below.
Increases creativity: With combining minds results into bringing of new and innovative ideas
which enhances performance and interest level. In an organization like M&S, the employees
perform their work in groups which helps in exchange of ideas and opinion leading better
outcome. Along with this, it helps in solving problem in innovative way.
Improved flexibility of organization: collaborative working is effective which is help to M&S
for improve their flexibility of working. Through that management have great chance to build
more effectiveness for working place. Team work is help to make work easier at the place of
working.
Higher retention rate: with the help pf collaborative working company have great chance to
increase retention rate (Mora and et.al., 2018). This help to build employee trust and their work
in effective manner. As that employees are free to work in better manner.
Engaged employees: This is one of the best way to engaged employees with all the employees
at workplace in effective manner. Collaboration leads to fully engaged workers eager to take on
new projects and give chance to being perform effective.
In order to work in effective manner here is select one element of marketing mix is help
to analysis the complete work and its task.
Promotion strategy:
Promotion strategy is help to company for promote their product and services at market
place. Through that company is able to analyze complete market place. Here company build
public relations which is helpful for promote product. On the another side, company use social
media app for promote products because new days customers and youngster more updated on
social side from here they can take any information about company and its products and
services.
Demonstrate an understanding of the main factors both internal and external impact to the
business.
In order to analysis the internal ad external factors which impact to the business here is
select SWOT and PESTEL analysis are as follows:
SWOT analysis:
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Strength:
 High recognition of the brand is giant of UK high street is know by everyone in the
market for the quality of business which is providing best and effective brand image at
the market place.
 Wide variety of products: M&S have wide range of products and services at the market
place which is create more effectiveness for the business and growth prospects.
 Large number of stores which have by M&S. That is help to increase profits margin by
increasing sales.
Weakness:
 Bad publicity as non trendy store: This is the drawback for M&S because their publicity
is affected very badly at the workplace in respective manner.
 Manual working increase the costs: company follow the old techniques which is also the
weakness for company.
Opportunities:
 Main opportunity of M&S is to use new and updated technique for working in better
manner is help to grow in positive manner.
 Another, opportunity for company which is entering into new market because company
follows various types of enter modes.
Threats:
 Increased competition at the market place is create threat for business M&S which is
give negative impact on the business.
 Other, brands expand their business.
PESTEL analysis:
Political factor:
Free trade is considered into the political factors. M&S is operates in the UK, but also the
location abroad benefited. Free trade allows M&S to import the foreign product for the sales in
their stores at the cheaper prices.
Economical factors:
Price of product is the big issue into the retail industry. If price of product is increase the
customers not buy the products of company which is created negative impact on the business.
On the other side, if price is lower than it is created positive impact on the business.
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Social factor:
The taste of customer is always affected to the business and its growth factor. In that case
M&S need to sales products and services as per the requirement of customers in effective
manner.
Technological factor:
Now days, technology is day to day updated in that management need to use this
technology help to increase growth in positive manner. On the other side, management if
management not use then it is created negative impact on business.
Legal factors:
Company need to follow employment law for their employee if in case employee injured
then management need to give compensation as per employment act.
Environmental factor:
Company want to maintain their brand M&S has pledged to become a more sustainable
retailer on numerous occasions.
Demonstrate knowledge of role of financial management and reporting within the organization.
Financial management plays a very important role within the organization which is create
effective control on the financial planning. There are various roles of financial management and
reporting which are as follows:
Financial decision and control:
This plays a very crucial role in making financial decision and control on M&S finance
in the organization. That makes effective use of techniques like ratio analysis, financial
forecasting as well as for profit and loss analysis.
Financial planning:
The financial management plays and effective role into the business in order to make
successful financial planning for business (Ferracuti and Stubben, 2019). This is completely
responsible for managing such as activities and resources within the organization. Through, that
data is available which is help to understand the needs and priorities of M&S in effective
manner.
Capital management:
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It is the responsibility for financial management to estimate the proper requirement of
capital for M&S from time to time as well as determine the capital structure and composition
which help to make effective choices of sources of funding for capital needs.
Cash flow management:
This is very important and effective role of financial management to analyze the cash
flow management of M&S in effective manner (Haustein,and Brusca, 2019). This is very
important and effective for company to have sufficient working capital and cash flow in order to
meet the need of operational expenses. Financial management tracks account payable and
receivable in order to ensure about the cash flow into the business.
Financial reporting:
This maintain all the necessary report related to the finance of M&S and uses this as the
database in order to forecast and planning financial activities (Kosmidou and et.al., 2020).
Risk management:
The financial management prepare the M&S to forecast risks, put in the place mitigation
plan as well as to meet the unforeseen risk.
Those are the important role of financial management and reporting into the business.
CONCLUSION
From the above study it had been concluded that the HR, marketing and finance
department has great role into the business. Collaborative working practice helped to maintain
business growth. As that, in order to analyze internal and external factors report had been
covered SWOT and PESTEL analysis of work. The report had been reflected that the role of
financial management and reporting into the business for maintaining risk at workplace.
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REFERENCES
Books and journals
Cascio, W. F. and Graham, B. Z., 2016. New strategic role for HR: Leading the employer-
branding process. Organization Management Journal. 13(4). pp.182-192.
Edeling, A., Srinivasan, S. and Hanssens, D. M., 2020. The marketing–finance interface: A new
integrative review of metrics, methods, and findings and an agenda for future
research. International Journal of Research in Marketing.
Ferracuti, E. and Stubben, S.R., 2019. The role of financial reporting in resolving uncertainty
about corporate investment opportunities. Journal of Accounting and Economics, 68(2-3),
p.101248.
Haustein, E. and Brusca, I., 2019. The quest for users’ needs in public sector budgeting and
reporting. Journal of Public Budgeting, Accounting & Financial Management.
Kosmidou, K.. and et.al., 2020. Regulation of capital flows: Effects on liquidity and the role of
financial reporting quality. Journal of Economic Behavior & Organization. 175. pp.86-97.
Mora, H. and et.al., 2018. Collaborative working architecture for IoT-based applications.
Sensors. 18(6). p.1676.
Ppt
Vlados, C., 2019. On a correlative and evolutionary SWOT analysis. Journal of Strategy and
Management.
Pan, W., Chen, L. and Zhan, W., 2019. PESTEL analysis of construction productivity
enhancement strategies: A case study of three economies. Journal of Management in
Engineering, 35(1), p.05018013.
Išoraitė, M., 2016. Marketing mix theoretical aspects. International journal of research
granthaalayah, 4(6), pp.25-37.
Pogorelova, E., Yakhneeva, I., Agafonova, A. and Prokubovskaya, A., 2016. Marketing Mix for
E-commerce. International journal of environmental & science education, 11(14),
pp.6744-6759.
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