Produce a detailed report on a medium sized or large business.
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Introduction The aim of this is assignment was to produce a detailed on a medium sized or large business. For the report the following had to be considered: * Ownership * Objectives * Structure * Culture * Communication channels You had to also see how well the business was meeting these objectives. And what impacts ICT has had on the business. Terms of Reference This report is being produced to fulfil the criteria required for Unit 1 for the Advanced VCE course in business. Procedure To create this report the main resource that I used was the company website. This contained a lot of information that was relevant to me to carry out this report. I also interviewed the store manager at the Pinner Marks and Spencer store. This was extremely helpful and all the information I was given was up to date and useful. I phoned up the Marks and Spencer head office asking for a student pack, but they did not have any. E1 - Company's Ownership My report will be based on Marks and Spencer. Marks and Spencer is a public limited company and is one of UK's leading retailers of foods, clothing, home ware and financial services. As well as being a leading retailer Marks and Spencer have a turnover of 8 million, employ 60,000 people worldwide, operate more than 400 stores in 29 countries in which 300 of them are in the UK, and serve 10 million customers every week. As Marks and Spencer is a plc it has its shares bought and sold on the stock exchange. Any member of the public can therefore become a member of this particular organisation. A company that is willing to buy and sell shares on the stock exchange must be registered, which means the term 'plc' must appear after its name. There are many benefits as well as constraints of a public limited company. ...read more.
They keep account of all the money that has been paid to or by Marks & Spencer and also debtor and creditor transactions. They also take care of wages for employees and deductions such as national insurance and pension. They will also produce periodic records such as annual accounts and figures to discuss at meetings with directors. The management accounting function leads the company in certain directions. These are based on the analysis of present figures and predictions for the future. The figures will be broken down in to information, in which the Marks and Spencer's performance can be shown. As Marks and Spencer is a PLC, the company have to produce an annual report for shareholders, on how the business is doing. Production Marks and Spencer is a service industry, so they organise others resources to ensure that the product they are offering to the final customer is made to the best quality and value. Production links to Objective 7- providing high quality products. Marks and Spencer provide contracts with other small companies to produce goods. They also keep a track and knowledge of the contractor's values, standards and responsibility, to ensure that the products are made to the highest standards. The goods made by these small companies are then sent to large Marks and Spencer warehouses, from where they are delivered to the Marks and Spencer stores. If each of these is not done on time then this could mess create problems, if for example the delivery from the warehouse did not reach the store on time then the products wouldn't be ready to be put on to the shelves, and this would lead to unhappy customers and so on. The production department links to many other functional areas of the business, like the objectives: making a profit, increasing sales, surviving, providing services to the community, offering charitable non-profit services, developing staff skills and providing high quality products. ...read more.
Quality control involves an organisation using a inspection system to test their products, to ensure that the finished products meet the company's specifications. In the food department of Marks and Spencer's they test the food samples for over 107 pesticide residues. The production process for Marks and Spencer Obtain products Reliable Supplier from suppliers Store products in Check products are in Marks and Spencer good condition when warehouses then received by the Marks distribute to all and Spencer stores the stores Place on shelves Marks and Spencer offer a Customers buy products money back guarantee if Products are still faulty Adding Value The production process adds value by selling more products and getting rid of faulty ones in the process. A1- alternative approaches that might enable Marks and Spencer to better meet its objectives. * Introduce a reward card scheme where customers can earn points by buying products and receiving vouchers e.g. for every 500 points earned a £2.50 voucher will be given to the customer. (Objective 4) * Marks and Spencer could be environmentally friendly by introducing recycled bags and packaging. (Objective 5) * Expand the business to Africa and America to increase market share and profits. (Objective 8) * Give money to more charities e.g. cancer research Children in need Leukemia Research A2 - Evaluating the effects that the alternative approaches might have on the structure and functions of the business and on how it achieves its objectives. The above alternative approaches will make a big change to Marks and Spencer's structure. The effects should be positive and Marks and Spencer should receive a positive impact from customers, staff, and environmental health department and staff at Marks and Spencer. List of Resources Below is a list off all the resources that I have used to complete this report. Textbooks Advanced Business, Needham D, Dransfield R, Heinemann AVCE Websites www.marksandspencer.com (05/03/02) www.marksandspencerfinancialsevices.com (05/03/02) PRIYA PATEL UNIT 1: BUSINESS AT WORK 1 ...read more.
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