There are some factors affecting the operation management and decision making of managers and leaders of Marks and Spencer Ltd. which are discussed as follow:
7 Factors Affecting Operation Management
Global competition is an important factor that is affecting the operation management and decision making of the Marks and Spencer Ltd. As a multinational retailer, they have so many varieties of clothing options offered for their respective customers but other competitions worldwide affecting the customer base of the organization (BARRACLOUGH, 2016). Without the online shop, they need to focus on the Asian market to grab more customers and attract them to compete globally.
Material and Capital Security
Raw materials and capital are the most crucial ingredients of operation management. The organization needs to have a close observation to secure them and ensure the proper utilization of the materials.
Quality, Customer Care, and Expenditure Challenge
Customers want a quality product with better service and affordable cost. But maintaining three of them can maximize the cost of production. So providing customers with better product and service quality is a big challenge for Mark and Spencer Ltd.
Each and every company has to perform some social welfare for the local community and maintain a good relationship with society (BARRACLOUGH, 2016). Because these kinds of social issues can seriously ensure the improvement or damage to the company’s business condition.
Expansion of Technology Advancement
Technology is a must for the Marks and Spencer Ltd to make the manufacturing and processing of operations easier and convenient for the employees of the organization. The technology advancement forces the organization to target new markets, customer base and a group of people with their expansion of it (BARRACLOUGH, 2016). As a multinational retailer Marks and Spencer need to make their technological advancement decision very carefully and to use them in a very specific way to make the best use of it.
Marks and Spencer Ltd need to be concern about their legal rules and regulations in various sections like tax, export-import, vat, tariffs, and government policies. Any disobedience can affect the business negatively and hamper the business condition. So the decision should be taken with the proper observation of the current legal situation wherever necessary.
Marks and Spencer follow each and every primary business ethics of the business environment. They practice their business operations by maintaining the code of ethics so the business policies do not hamper with any adverse condition (Marksandspencer.com, 2017).
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