The business I have chosen to do this assignment is Marks and Spencer. The aims and objectives of marks and Spencer are followings:
Business and Management
Explain how aims and objectives may be achieved through planning and monitoring
Introduction
Planning is all about how an organisation wants to run their business and an organisation must have plan to guide their business in the right way and make sure they are surviving and making profit. Because if an organisation have a business plan then they know what they got to do to make profit and know what things they need to do to run the business in order to survive and make profit.
Management is concerned with planning, controlling and coordinating. The over view of management is all about making profit and surviving, an organisation aim to provide a mix of benefits for everyone who works at marks and Spencer. For an organisation like Mark and Spencer the manager must meet the customer's needs, be nice to everyone, be fair to suppliers and to his workers, selling responsible products and operating in a considerate manner in order to maintain their store management in order.
Mark & Spencer is one of the biggest retailers in U.K. Mark & Spencer is considered as a variety store. Because they serve all kind of foods and groceries and they have fewer departments in their store and got wider variety of stocks. In this assignment I will explain how mark and Spencer achieve their aims and objectives through planning and monitoring. I will also describe the business plans they use to achieve their aims and objectives. I will try to explain everything as clear as possible so that the reader will be able to understand what I am trying to say in this assignment.
Task 1
The business I have chosen to do this assignment is Marks and Spencer. The aims and objectives of marks and Spencer are followings:
) Meeting customers needs.
2) Keeping their organisations reputation as good as possible.
3) Making profit and Surviving in business.
5) Expanding their business.
6) make sure the customers are satisfied with their purchase.
Meeting customers needs
They must find out what customers like and dislikes and the products that customers like they must provide the product to their customer. They should know what customers expect from their store, they must have all the services and facilities that meet the customers' needs and expectations. They must provide the right product at the right time.
Keeping their organisations reputation as good as possible
Marks and Spencer have to make sure that they are selling their products at the reasonable price and also making sure they are keeping their store nice and tidy, everything single product must be in order. Providing good customer service and dealing with complains very gently. They must treat their employees in the right manner
Making profit and surviving in business
Making profit and surviving in business is very important for an organisation like marks and Spencer. They have to make sure they are providing ...
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Keeping their organisations reputation as good as possible
Marks and Spencer have to make sure that they are selling their products at the reasonable price and also making sure they are keeping their store nice and tidy, everything single product must be in order. Providing good customer service and dealing with complains very gently. They must treat their employees in the right manner
Making profit and surviving in business
Making profit and surviving in business is very important for an organisation like marks and Spencer. They have to make sure they are providing better products at a price and better services than anyone else. They must not make any kind of mistake which might lead them in losing customers. They must be updated with new products in case to compete with their competitors and survive in business.
Expanding their business
Expanding business is an objective that they can achieve whenever they have enough capital to expanding their business but they have to make sure they are surviving and making profit in business in case to expand their business.
Make sure the customers are satisfied with their purchase
Marks and Spencer must make sure that their customers are satisfied with their purchase, if not then customers should get their money back. For example a customer buys yoghurt and the product is expired or some one buys a shirt and there is a hole in it and customer did not notice it in the first and notice it when the customer wears then the customer has the right to exchange the products or get his money back. That's why marks and Spencer provide that service for their customers to be happy and satisfied.
The operational planning is based on day to day routine check it concerns with the staff punctuality and absenteeism, stock movement and replacement, staff behaviour, customer service, team individual appraisal. The way mark and Spencer achieve their aims and objectives through operational are followings:
Everything is worked out mathematically according to people in the local area for example how much stock they need each day to meet the customers needs and how much revenue they are expecting to receive from their sales, and all the training is given on the job and to train a new staff they have coaches who are fully qualified to make sure that the workers should meet the customer expectations. They also have coaching staff to monitor their performance. Team briefs and discussions are done every morning and evening to monitor their staff performance and to discuss about improving their weak points. They also monitor how customer service staff deal with complaints making sure the customers are satisfied and happy with their purchase and also asking customers about their store and management etc.
To keep their store standard as good as possible, they have to make sure they keep the floor clean and tidy from inside and out. They get stock every day, They present their store in a very pleasant way, playing a very soft music, making sure that all the Shelves are full and the products are in order and they make sure they have choice for their customers and if a certain line is not selling they get support from head office to find out what's the reason and they also make sure is there baskets available, are there any trolleys available. In case if anything goes wrong for example there is a damage taken place in the store or outside, it must be repaired as soon as possible. The checking for all that stuff is done every morning and evening.
The performance review is done every month and given tasks to improve on it. They get scored on all of above and most important thing is to achieve the sales they are expecting and make sure the staff are following the rules and regulations policy. They review their scores every month and see how they can increase their sales and what they need to do to improve on it if it's bad and to do that they need to know their customers profile. They also make sure how much staff they need each day and they must not go over the staffing budget, they have to maintain the staffing budget and also the travelling budget unless they will be making loses instead of making profit. They have all the reports in their system. They have this system called salary planner tracker. It tells them how much money coming in and out.
The way mark and Spencer achieve their aims and objectives through tactical program are following
All stores are laid out in the same way and all departments are linked. People are reviewed twice a year and given objectives so that they can improve on their performance. New aims and objectives are set every year. They use Gantt chart to monitor their business performance, they monitor their competitor's behaviour for example are they getting more market share, are they promoting their products, are they giving offers to attract customers. They keep track of changes in the business environment for example 9/11 shares went down rapidly. They also deal with three departments which are human resources, financial resource and physical resources departments. These three departments help mark and Spencer a lot to meet their aims and objectives. The way human resources department help to meet aims and objectives is that for example if marks and Spencer want a new part time staff or someone might be leaving or etc, then its human resources department responsibility to fill that gap in and must make sure they are choosing the right person for the job. The appointments can be fixed online or on the phone, if they find the right person for the job.
Physical resources department is concerned with equipments, materials, waste, maintenance, security and healthy and safety. Mark and Spencer use all this techniques. Physical resources department in mark and Spencer make sure every equipments and materials they need is there for them. Marks and Spencer also have to keep hold of waste materials because they keep this checking system which tells them how much wastage they are allowed each day. If they go over that limit then they contact head office get some support of them and find out why the certain line was not sold and got expired.
Marks and Spencer maintain their standards as good as possible, they have to make sure they keep the floor clean and tidy from inside and out. The toilets are clean or not, are there baskets and trolleys available for customers and to make sure everything is in order the checking's are done every morning. They have CCTV cameras all around their store which help them track the number of customers they get everyday and also a beeping system for example , if anyone try to steal something and not paid for that product and want to walk out with it then the beeping system will make loud enough noise to let the staff know somebody is trying to steal something. They also have security guards on the exit and entrance to make sure everything is in order.
They also got this health and safety rules and regulations chart which is glued on the wall to remind the staff and let them know what things they must do and must not do, to follow the policy, They got emergency exit in case of fire and fire extinguisher.
Marks and Spencer has tall structures because the store has many levels of management and supervisions contacted to the number of employees they have, although it is rare to find more than seven or eight levels of management even in a very large organisation like marks and Spencer. Because they have so many managers for example one store manager, four section managers, store operational manager, cold chain and produce manager and service section manager. They have 13 coaches to train the new staff. The advantage of having that much managers, there is less chances of mistake, clear management structure, everything will be in order.
