Business Report Essay
It is specialized in the selling of clothing, home products and luxury food products. Indeed, the company concentrate itself on quality products for well off customers. It Is employing more that 85 813 person all over the world In 2014 and got a turnover of 10 026 billion with a 458 million profit. That show how M&S take a huge place in retailer market. II. Findings A. Structure Over Its development M&S has changed of structure. It became over the years, a flatter structure organization.
Employees got more responsibilities that enable them to take quick decision. They must be prepared to explain and Justify the decision they take. In order to development that structure, M&S has given more Importance to the placement of employees ‘ careers by set up training and reviewing of skills in discussion session between employees. Moreover, employees are able to create a career planning profile that enables them to focus on their next target role. It shows how M is supporting the development of skills within the company.
The aim of this strategy is to make evolve without interruption the skills of employees and by this improve performance of the company. It brings benefits to both parts for
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Integrity – doing the right thing, not the easy thing; building trust and reinforcing our reputation. In Touch – understanding what’s important to customers, the communities in which it works. M&S is also engaged a Policy of Equal Opportunities Policy in order to diversify employees. They promote an environment free from discrimination, harassment to ensure everyone equality of opportunity to achieve their potential. All employment decision is objective based on work criteria and individual merit. M&S try to maximize personal and commercial opportunities.
M&S think that employees need to be well rewarded for the work. That’s why they developed a reward package that’s proven to attract, motivate and retain the best people. This package include: Pay – Checking salaries against other companies to make sure of the competitiveness of M&S. Moreover, extra performance is rewarded by increasing pay to recognizes individual achievements. Employee discount: Every employee gets a 20 % discount on all in store and online purchase. Holiday- Employees get a minimum of 28 days ‘statutory holiday per year.
Bonus: M give out bonus when the company has good profit. It rewarded employee for helping M to reach its goals. Life assurance: Employees receive life assurance cover. And more advantages C. Commitment toward environment M is also committing to sustainable development. It engaged itself to dramatically increase environmental sustainability of the business within 5 years and expected to cost 200 pounds. The plan covers 180 commitments, which span five themes: climate hang, waste, sustainable raw materials, fair partnership and health.