Marks & Spencer is one of the UK's leading retailers of clothing, foods, homeware and financial services, serving 10 million customers a week in over 300 UK stores.
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Page 1 E1 Business Report Marks & Spencer is one of the UK's leading retailers of clothing, foods, homeware and financial services, serving 10 million customers a week in over 300 UK stores. The Company also trades in 30 countries world wide, and has a Group turnover in excess of £8 billion. Marks and Spencer originated from Michael Marks and Tom Spencer in 1884 Since then Marks and Spencer has become a global retailer and each year has seen the company go from strength to strength. Although this can be said for most years Marks and Spencer has had its recessions from about 1998 - 2000 Marks and Spencer went through a bad spell not only in its customer relations but also in the press and media. Since 1920, Marks and Spencer has bought directly through the manufacture, using its trademark name "St Michael" and became a public company in 1926 with its first store opening in 1930 in London. Café bars were opened in the late 1930's, as were research labs to pioneer new fabrics to the M&S range. Since then M&S has become Britains leading department store offering a wide range of products and services. M&S has six executive directors, this is obviously a winning factor in M&S as it has shown an increase in sales every year. There are many strengths and weaknesses to this kind of structure. Marks and Spencer is a Sole Trader This is when an individual owns and operates their business their own way, although it can be done by more than one individual the sole trader makes the financial decisions.
Time keeping is very important at M&S, they dislike any employee arriving on time, and alternatively they prefer arriving times about 10 minutes before the start. This can be seen a discipline and another way of creating a devoted work force. Training programmes help employees to provide a better service, everything is covered, from how to serve someone to how to fold up clothes when sold - this is an excellent way of making sure the employees are up to standard and provide the right service that should be expected by the consumer. The first was to focus on the heart of our business - our retail and financial services operations in the UK - and to get back to the fundamental strengths that had made Marks & Spencer great in the past. Through this business report, it shows how he is trying to use the same strategies that were used when makers and Spencer was at its greatest. Marks and Spencer wants to stop all the products that are causing profit loss, i.e. in a store in Taunton Marks and Spencer has recently closed down Their bakery section because although its sales were reasonable, its produce was too high and more waste was being thrown away each day, causing more of a loss than profit. Marks and Spencer's downfall in the late 90's meant that recovery was vital, but it was in very harsh competitive marketplace. The report says that there has been a deadline in the company to see the changes take place. Although the company started to make these changes almost a year ago, its objective now is to secure their stake in High street retailing.
do the same work and same tasks as most employees and everyone helps out to make the business as prosperous as possible. The only way there is a difference is the salary that they are getting paid and the uniform they wear. Terms and conditions apply to all the staff, and everyone is treated equally. This gives the employees a sense that they too are as important as the managers do and believe that there job is an aspect of the business. A single status is applied, where employees get the same number of breaks, eat in the same rooms and get given the same benefits. All in all it builds the team sprit up for the employees and makes them think that there job is worthwhile keeping. Culture within the business Role culture is the most widely used type of culture in M&S. It is when work of the organisation follows rules and procedures, anything unusual will be referred up to the hierarchy. People's jobs will be tightly defined and the individuals will have little or no discretion. The work given to the employee will be broken down into tasks then monitored this will also make the employee expected to have high authority for the members up the hierarchy. E5 The Role of communication M&S uses communication in a variety of ways. Without it employees wouldn't know what to do, and would be useless to the business. Good communication enables... * Feedback from the employee * Shows the roles and responsibilities * Motivates and sets goals * Gives good co-ordination With good communication, staff are able to set there goals and achieve what the managers want.
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