Unit 4 D2 business
Q UNIT 4 D2: Evaluate the effectiveness of business information and its communication as key contributors to the success of the organisation, using examples to illustrate your points.
Information and the effectiveness of communication are key to the success (or the survival) of a business. For example, the BP oil spill in the Gulf of Mexico in 2010 continues to have serious implications for the business.
Introduction
Over the last 129 years M&S has grown from a single market stall to become an international multi-channel retailer. They now operate in over 50 territories worldwide and employ almost 82,000 people. Remaining true to their founding values of Quality, Value, Service, Innovation and Trust, we work hard to ensure our offer continues to be relevant to their customers. Through diversifying their store locations, channels and product ranges they are reducing their dependence on the UK and broadening their international focus.
High promotional activity by their competitors.
Marks and Spencer will use this sort of information to develop the business over the next few years. They have to keep up with their competitors’ prices and quality, so when their competitors are advertising and promoting more than Marks and Spencer this will bring more awareness to their products and this will affect Marks and Spencer’s sales as customers may decide to go and purchase from them instead of purchasing from Marks and Spencer and thus resulting in less revenue. The problem for Marks and Spencer with trying to compete with rivals over advertisements and promotions is that it can be really costly, there for their costs will be higher and if their revenue stays the same while their advertisement costs increase their profits would drop drastically. The best possible way Marks and Spencer’s should communicate with this promotion campaign is that they should do something different, be innovative. They should try advertising on TV, on specific times in the day, for
Information and the effectiveness of communication are key to the success (or the survival) of a business. For example, the BP oil spill in the Gulf of Mexico in 2010 continues to have serious implications for the business.
Introduction
Over the last 129 years M&S has grown from a single market stall to become an international multi-channel retailer. They now operate in over 50 territories worldwide and employ almost 82,000 people. Remaining true to their founding values of Quality, Value, Service, Innovation and Trust, we work hard to ensure our offer continues to be relevant to their customers. Through diversifying their store locations, channels and product ranges they are reducing their dependence on the UK and broadening their international focus.
High promotional activity by their competitors.
Marks and Spencer will use this sort of information to develop the business over the next few years. They have to keep up with their competitors’ prices and quality, so when their competitors are advertising and promoting more than Marks and Spencer this will bring more awareness to their products and this will affect Marks and Spencer’s sales as customers may decide to go and purchase from them instead of purchasing from Marks and Spencer and thus resulting in less revenue. The problem for Marks and Spencer with trying to compete with rivals over advertisements and promotions is that it can be really costly, there for their costs will be higher and if their revenue stays the same while their advertisement costs increase their profits would drop drastically. The best possible way Marks and Spencer’s should communicate with this promotion campaign is that they should do something different, be innovative. They should try advertising on TV, on specific times in the day, for