Medium sized or large business
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.Marks and Spencer are known for their high quality products and their customer service. Their reputation is known both by its customers and within the market. Their reputation of high quality products has enabled them to become one of the leaders in foods and retail. Much of this reputation has been achieved through the quality production of Marks and Spencer brand products. The reputation of the company is very inflectional to the success of a business as the way in which its customers perceive the company will influence their sales.
Marks and Spencer’s reputation of high quality and reliable products has encouraged customers to choose Marks and Spencer products and services rather than rivals. The high quality products are maintained through high quality control standards and have already set high standards for themselves. In order to keep the reputation already created by the company, they have to ensure that their products are made to their highest standard. They also provide good customer service and have a customer service desk in every store. Customer service is also enhanced by Marks and Spencer’s ability to effectively communicate with its customers. There is a variety of ways in which Marks and Spencer’s communicates with its customers. This enables Marks and Spencer to learn about their needs and ensure that the products they provide meet with these needs. But they can still continue to going on and providing better services to customers.
I think that Marks and Spencer’s is meeting this particular objective because they sell high quality products and have a good reputation in the community for selling products of a high standard. Marks and Spencer have to stop activities and roles that the business does not need to be wasting money on. Just recently Marks and Spencer restructured their structure. For the company this meant this meant that it was a lot easier for the business to communicate with each other and this also saved costs of hiring employees that were not needed any longer.
Marks and Spencer employee objectives Marks and Spencer have five aims that the employees at Marks and Spencer should follow. They have adopted these rules to improve the ways of working.Employees are encouraged to ‘Think customer’ as they will be more motivated in.