Business Enviroment Unit 1 Task 1
Unit 1: Business Environment Assignment 1 Understanding the Purpose of Business of Marks and Spencer PLC
Introduction
This assignment will focus on identifying the mission, values and key objectives of Marks and Spencer PLC and also access the influences of three of their stakeholders. It will also explain the responsibilities of the organisation and the strategies employed to meet them, overall showing a general understanding of the purpose of business of Marks and Spencer.
Categories of Organisation
Marks and Spencer plc is a public limited company this means that they trade on stock markets such as the London stock exchange, and provide an annual report highlighting the company’s financial performance. Being on the London stock exchange allows the public and businesses to monitor the company’s current share prices and performance and allows them to purchase shares in the company and potentially benefit from dividends; a share of the company’s profits and the end of their financial year, and be involved in future and current plans that Marks and Spencer wish to for fill.
Marks and Spencer is part of the tertiary sector so their way of business revolves around delivering/providing products and services to the customer.
The Mission, Value and Key Objectives of Marks and Spencer’s
Marks and Spencer is sums up their goals and objectives into one small statement ‘’To make aspirational quality accessible to all’’ this mission is a statement that the public/stakeholders uses to identify Marks and Spencer’s as a company, and get a overall idea of its continuing plan and what it wishes to accomplish as an organisation.
The values that Marks and Spencer aim to achieve is summed up in 5 simply words’ ‘Quality, value, service, innovation and trust’’ these words are incorporated into everything at Marks and Spencer do on a day to day basis, and keeping to these
Introduction
This assignment will focus on identifying the mission, values and key objectives of Marks and Spencer PLC and also access the influences of three of their stakeholders. It will also explain the responsibilities of the organisation and the strategies employed to meet them, overall showing a general understanding of the purpose of business of Marks and Spencer.
Categories of Organisation
Marks and Spencer plc is a public limited company this means that they trade on stock markets such as the London stock exchange, and provide an annual report highlighting the company’s financial performance. Being on the London stock exchange allows the public and businesses to monitor the company’s current share prices and performance and allows them to purchase shares in the company and potentially benefit from dividends; a share of the company’s profits and the end of their financial year, and be involved in future and current plans that Marks and Spencer wish to for fill.
Marks and Spencer is part of the tertiary sector so their way of business revolves around delivering/providing products and services to the customer.
The Mission, Value and Key Objectives of Marks and Spencer’s
Marks and Spencer is sums up their goals and objectives into one small statement ‘’To make aspirational quality accessible to all’’ this mission is a statement that the public/stakeholders uses to identify Marks and Spencer’s as a company, and get a overall idea of its continuing plan and what it wishes to accomplish as an organisation.
The values that Marks and Spencer aim to achieve is summed up in 5 simply words’ ‘Quality, value, service, innovation and trust’’ these words are incorporated into everything at Marks and Spencer do on a day to day basis, and keeping to these
Bibliography: Books BPP Learning Media. (2010) Business Essentials, Business Environment, 2nd edition. London, Part A Business Environment Websites Marks and Spencer; About Plan A http://plana.marksandspencer.com/about/the-plan Marks and Spencer; annual Report http://annualreport.marksandspencer.com/ Marks and Spencer; Vision, Mission and Values http://www2.marksandspencer.com/thecompany/our_stores/world.shtml