Marks and Spencer Business Ethics
Task 1 P2 and Task 2 D1 (Unit 38)
In this task 1 P2, I have been asked to explain the implications for M&S and its stakeholders of the business operating ethically. For task 2 D1, I have been asked by using example, to evaluate the effects (consequences) of M&S ethical behaviour on stakeholders and the business.
M&S does the right thing for their shareholders, customers, suppliers, colleagues, environment and their local communities. Their ethics outlines the behaviour that it holds as a business and conduct the organisation with the highest standards of honesty. The ethics code of M&S describes the company policy and procedures which reminds them of behaviours that are unacceptable.
M&S’s tool of success is their customers, without them they would not make profit and be successful in the business. Therefore, it is important for them to meet their customer needs and expectations, otherwise customers might leave M&S and look for other companies i.e. Debenhams from where they can get better customers service who is able to meet their needs and wants. M&S offers quality products at a reasonable price which customers can afford; this makes the customers happy and feels the value for the money, this force M&S customers to be loyal customers.
Marks & Spencer is owned by the individuals and organisations that hold their shares. They are committed to build shareholders value through growth and dividends. They keep honest and accurate records of their performance which will be provided to the shareholders. This is vital for both of them, because if M&S loses their shareholders they will not have the fund to develop and to improve the service, on the other hand their shareholders would like to be a part of M&S as they have good reputation and image.
It is an important issue for the stakeholder of M&S to behave ethical towards everything. Especially managers have to be ethically, if not they will create a poor image for
In this task 1 P2, I have been asked to explain the implications for M&S and its stakeholders of the business operating ethically. For task 2 D1, I have been asked by using example, to evaluate the effects (consequences) of M&S ethical behaviour on stakeholders and the business.
M&S does the right thing for their shareholders, customers, suppliers, colleagues, environment and their local communities. Their ethics outlines the behaviour that it holds as a business and conduct the organisation with the highest standards of honesty. The ethics code of M&S describes the company policy and procedures which reminds them of behaviours that are unacceptable.
M&S’s tool of success is their customers, without them they would not make profit and be successful in the business. Therefore, it is important for them to meet their customer needs and expectations, otherwise customers might leave M&S and look for other companies i.e. Debenhams from where they can get better customers service who is able to meet their needs and wants. M&S offers quality products at a reasonable price which customers can afford; this makes the customers happy and feels the value for the money, this force M&S customers to be loyal customers.
Marks & Spencer is owned by the individuals and organisations that hold their shares. They are committed to build shareholders value through growth and dividends. They keep honest and accurate records of their performance which will be provided to the shareholders. This is vital for both of them, because if M&S loses their shareholders they will not have the fund to develop and to improve the service, on the other hand their shareholders would like to be a part of M&S as they have good reputation and image.
It is an important issue for the stakeholder of M&S to behave ethical towards everything. Especially managers have to be ethically, if not they will create a poor image for