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Strategic management is considered as the process which involves the formulation and implementation of main goals and objectives initiatives taken by firm's top management on behalf of owners. It is also essential for management to consider different internal and external environment in which business competes so that desired results can be attained (Orlitzky, 2013). Here, Marks and Spencer organization ha been undertaken which is a major British multinational retailer headquarters in London. Company specialises in clothing, home products and luxury food items.
Thus, it is essential for business to undertake effective corporate social responsibility practice and thus helps in improving focus upon corporate responsibility and sustainability. Business aims to undertake such approach in regard to embed social and environmental awareness and practices into its everyday strategic vision and does not affect the environment in which firm is operating its business.
Further, in order to attain success within firm, it is essential for M&S to implement effective CSR practices so that best results can be attained. Also, business needs to focus upon prevailing environmental issues in the country and thus prepare the product accordingly so that it does not affect the business functions. Employees within firm also needs to have clear vision regarding understanding the goals and objectives and thus attain desired results in an effective way. It is crucial for firm to follow CSR policy and thus attain desired results so that environment could be protected from affecting.
Marks and Spencer enhances its environmental performance in regard to introduce more sustainable product and service and thus carry out the trade practices so that it does not affect the environment. However, it aids in making the business successful as well as compete with that in international market.
Business also focuses upon carrying out effective corporate social responsibility and thus enhance the brand reputation in market to attract more number of customers and attain high profits.
Working with many suppliers together main sustainability of the company is depends on its supply chain. In respect to considered retailer strategy, is very essential to future of the company. M&S wants to take their operations according to customers expectations so that they can take steps within the business accordingly. In addition to this, the company collaborating with food suppliers with using sustainable water which help them to contribute fair pay standards within the enterprise (Jo and Harjoto, 2012). With the help of considered right things within the organization, cited firm can create shape towards the enterprise performance so that they can make sustainability within organization programme.
M&S launch their activity look behind the label, in which they highlight customers with various ethical and environmentally methods that can be use by the firm for production and sourcing for the company products. The chosen business face many challenges which are responsible for sourcing the material from suppliers in various part of the country and another nation as well (Attig, El Ghoul and Suh, 2013). With the help of CSR contribution, cited firm make their products and services in considering selling of clothing, home products and luxury food products in different areas.
As results, chosen business can make suppliers more socially and environmentally responsible. This would assist to make overall sustainability framework of cited firm to take initiative within the company. In addition to this, it also covers legal and ethical standards within the organizational products and services which business provides to attain enterprise outcomes. They are ensures that products and services which the enterprise offers to customers are very effective and good for them (Welford, 2013).
Stakeholders includes person, group of members and organization who create interest in the activities and actions of a company. In M&S there are different types of internal and external stakeholders take place within the business which are as follows:
External stakeholders includes customers, communities, government and suppliers which effect from cited firm activities (Grant, 2016). Following are the stakeholders consist within the enterprise:
Customers are the most important stakeholder within the company who attract towards the M&S activities. Cited firm is retailer and their customers can be single person or other business as well. They are part of the company success who create positive advantages within the enterprise. In addition to this, they are also helps to increase profits of the business through considering various activities (Armstrong and Taylor, 2014).
Government is another important stakeholder for the company who demonstrate various rules and regulations for development of the enterprise. In respect to this, M&S pay them tax which helps them to create positive relationship within the organization performances. In respect to this, government make decisions which significantly create major impact on the company operations (Toppinen and KorhonenÃÂ¢Ã¢âÂ¬ÃÂKurki, 2013). Thus, chosen enterprise has responsibilities to make effective relations with government so that they can enhance their new operations easily.
Suppliers are the most critical stakeholder for the company who provide raw material to the company to make finished goods. In this context, M&S create loyal relationship with them so that it helps them to develop shared value, vision and goals for the organization.
Internal stakeholder of M&S can be grouped according to shared interests. Following are the internal stakeholder consist within the organization:
Main aim of investors is to gain profits from the business (Hill, Jones and Schilling, 2014). In respect to this, they invest their money in M&S to create more revenue within the organization so that they will easily attract customers to develop the company market. Hence, cited firm fulfil their investors requirements which is primary objective of them.
Employees are the most important element within the organization who create value for significant consideration for the company (Koh, Qian and Wang, 2014). In M&S employees has two prime interest such as job security and high wages.
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As results, with job security cited firm can make guarantee through business can make sure job security to their employees so that they can make sustainability within the enterprise.
Corporate Social Responsibility (CSR) policy consist rules and regulations which help to develop social welfare from the company operations. It is used in M&S to integrate economic, environmental and social objectives of the enterprise which assist to grow the company. Supply chain of M&S consist various retailers which take place for better operations. Sustainability programme is help to make effective results (ArAs, 2016). This is because, it creates step to changes in global supply chain.
CSR policy play very important role within the organization activities and sustainable sourcing. As results, financials incentives for chosen business can be create major advantages within the effective supply chain of company. In respect to this, business make successful production and reputation within the company environment.
Supply chain of M&S is take place in global environment in which they follow global sourcing principles documents which create positive advantages within the company. The principles are considered by CSR in which adequate clauses considered on forced labour, freedom of association and discrimination from at the workplace (Shields, Brown and Plimmer, 2015). Thus, it can be stated that reasonable rating in supply chain considered stakeholder engagement with the chosen business in which they can make their transactions effectively. In addition to this, their supply chain is jointly create advantages within the company to making high degree of community management.
M&S set high standards for making effective sustainability in the environment that influence to the changes throughout the company. They make plan through considering ethical sustainability activities and gathering support to company operations (Hopkins, 2012). Hence, they can get positive results according to their reputation. In the supply chain of company, cited firm make fair partner in the retailer's strategy which help to create ethical and environmental standards to the future of organization.
Main aim of CSR is to protect the economy through make effective results for upcoming people. It helps to consist welfare for local community services activities within the chosen company (Ducassy, 2013). As results, it can be done in positive manner to attend various challenges within the society. In this context, following activities considered by CSR in M&S operations:
From the above activities within the chosen organization, they can make their transactions in effective manner which help to create positive results. In respect to this, M&S can make effective operations so that company will able to achieve their targets.
Major challenges face by cited firm is sourcing material from the suppliers in different areas such as South Asia, i.e. India, Sri Lanka and Bangladesh. Manufacturing is the very important and established industry that contribute major contribution within the GDP of country (Campbell, Eden and Miller, 2012). However, M&S face many challenges which create disadvantages for the business. Following are the changes face by chosen enterprise at the global place of work:
Above challenges face by M&S which becoming more complex and dynamic in nature. Complexity in manufacturing program increase process of the company and collaborative networks. To overcome these challenges cited firm need to retain valid candidates who have learning techniques within the organization environment. In respect to this, they can implement many techniques which helps to make effective functioning within the business environment (Hoi, Wu and Zhang, 2013).
It can be affected by the various factors such as availability of large amount of complex data with the transparency and power of available tools. New program within the economy consist major part within the enterprise in which organization can analysis their tools and techniques and strength and limitations as well.
General advantages of the production facility in M&S is to establish solutions for complete problems. In respect to this, they can focus on handling multi-dimensional data which implicit relationship within large set of complex and dynamic. In addition to this, company can improve their resource utilization in manufacturing process and problems (Hsu, 2012). In addition to this, it also provides quality improvements in complex data so that business can make transparency in manufacturing goods and services. Production facility of the cited firm considered following advantages within the firm:
Triple bottom line is an accounting framework which consist three parts within the organization framework such as social, environmental and financial. It helps to M&S to evaluate their performance in broad perspective to generate high value of the company. Below are the elements consist within the triple bottom line perspective:
Economic variable consist to deal with bottom line the flow of money. It can be take within the cited firm to take income or expenditure, taxes, employment and business diversity factors (Toppinen and KorhonenÃÂ¢Ã¢âÂ¬ÃÂKurki, 2013). It can be includes, personal income, cost of underemployment, job growth and revenue by sector, etc.
Environmental variable represent the measurement of natural resources which influences to practicality. It can be integrated air and water quality, energy consumption, natural resources and land use. It helps to identify impact of project and policy on the specific area (Koh, Qian and Wang, 2014). In M&S example includes such as electricity consumption, excessive nutrients, electricity consumption and hazardous waste management.'
Further, social measures consist as social dimensions of community and region that could be include in measurement of education, equity and access towards the social aspect of M&S.
In this context, unemployment rate, relative poverty, average commute time and health adjusted life expectancy includes (Mahoney, Thorne and LaGore, 2013).
M&S operate their functions in increasing global society of the company in which they offer various types of products in person life. They use most trusted brand in the products so that they will easily develop their market in different part of the nation through considering suppliers and producers of raw material. It will support to communities where organization make their transactions (Grant, 2016). Thus, it can be recommend that organization need to demonstrate responsibilities to ensure good working conditions throughout the environment in which they can make effective supply chain.
In this aspect, they are delivers fair pricing to suppliers which support to local communities which making sure that every member of company working in effective and good supply chain. With the help of human resource development strategy, chosen business can deliver their effective results in which their products are made exclusive with unique position in the environment.
Further, it can be recommend that M&S need to make cooperation with the members for deliver effective quality in the products and services. In respect to this, they are not compromising on quality in which they are maintaining competitive advantages at the price of products and services (ArAs, 2016). In addition to this, company wants to make their profits very high so that they need to increase their operations in various part of the countries and other areas as well. As results, they will easily deal with suppliers fairly and lawfully.
Company has also high risk within the environment issues so that they need to make effective functioning according to social inequality which is more complicated within the firm. Another recommendation can be taken as improvements in supply chain transparency so that they can make their improvements within effective solutions. As results, the business can create important brand within the organizational performances (Hopkins, 2012).
Main aim of the company is to enhance living standards of local communities so that they will easily purchase high price of products and services of cited firm. In this aspect, M&S need to identify customers requirements and selling their products accordingly. Hence, they can improve sustainability within the chosen enterprise in supplying effective products and services. Another recommendation can be taken as human right policy which need to be deliver to customers in effective manner so that company will able to achieve more growth within the business environment (Ducassy, 2013).
From the above report it can be concluded that CSR helps to cited firm to protect the members of society for taking responsibilities at the workplace. In respect to this, CSR protect to the chosen enterprise in term of taking advantages within the welfare of employees of firm. Furthermore, it can be summarized that the business has two types of stakeholder considered such as internal and external. In the internal stakeholder cited firm has employees and investors are take place. Similarly, in external stakeholder suppliers, customers and government take participation within the business for considering objectives of the company. Moreover, report considered supply chain sustainability of the company in which organization can make their development with increasing their profitability. At last, in this report covered recommendation through cited firm can make their profits at very high level.
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