Stakeholders Of Marks And Spencer Commerce Essay

Stakeholders Of attach And Spencer Commerce experimenttag and Spencer is an international seller headquartered in London. It was formed in the course of study 1884 by Michael Marks and doubting Thomas Spencer in partnership. It mainly specializes in cloth lines and high end food products. The major product lines of the arrangement atomic number 18 womens wear, children wear, sportswear, baby wear, perfumes and cosmetics, food and beverages, home appliances and etcetera The brand has over 703 stores in UK and around 361 stores through come out the globe. The company recorded an annual turnover of 9,934.3 billion by the end of year 2011. The firms profit for the year 2012 was projected to be 489.6 million (Aaker, 2007).A wide range of information is required by the signalise stakeholder groups, for instance, customers want to know about the unhomogeneous products that the company is offering them, discount options available, information about the later gross sales run and etc.Likewise, the sh beholders argon interested in sign onting details regarding their dividends plus companys m angiotensin-converting enzymetary reports (Kisielnicki, 2011).Similarly, the community wants to know the operational style of the retailer to ensure that it is not violating any law of the grime bid employee exploitation, any threat to the environment and etc.Its competitors like Tesco, ASDA wish to know about the sales figure of the company, its position in the market, to analyze their competitive positioning. development required by stakeholders in distinct organizationsMonitoring and evaluation comprises of analysis and collection of data. All the relevant parties at e actually level pack information for their respective subjects. Project managers require information about the consequences of a specific project to figure control the projects in a better way. Almost every organization publishes reports to give information to its stakeholders (Lee-Kelley and Sanke y, 2008).Systems utilise for communicating with the Marks Spencer stakeholdersIn Marks Spencer, confabulation is solely about the transmission of information. The company has both(prenominal) inborn as well as external conversation. internecine dialogue exists within the rail line of the retail giant, whereas external colloquy is present outside the boundaries of line of work. Both internal and external communications realize witnessed bang-up transformation owing to the rapid developments in communication and information engineering science. The company boasts ofAn connect organisation of internal communication- internal network.An e-commerce system for B2C connections.An e-commerce system for B2B connections.When all these links are integrated with each other, a networked parsimony is created, which has greatly increased the potential of the company to associate with its workforce, customers, suppliers and other stakeholders.The internal communication, i.e. com munication with employees, shareholders is carried out in three ways i.e. oral, written and electronic. Information is transmitted verbally via face to face interactions, voice mails and etc. Information is communicated in written form by issuing letters, memos, and annual reports. Electronic communication is quickly overtaking other forms. The company has integrated this system in effectively. For instance, the stock list is now comfortably transmitted electronically from the supermarket to the main office. Transmission of all documents in like manner takes place via emails still (Report on the course of Marks and Spencer, n.d).Marks and Spencer communicates with its external stakeholders like customers, community, government and etc. using external modes of communication. Its public congeneric function is a tool to effectively communicate its nice image to the concerned people. Websites, adverts, promotional campaigns, business enterprise organization letters are round o ther methods through which the company communicates with its outside key stakeholders (Electronic Shareholder Communication, 2012).Barriers in workplace communicationThere are several(prenominal) barriers to effective communication in the organization. many of them are listed belowInefficient listening skills Poor listening results fromPassive and not active listening and date when a individual is speaking.No involvement with the subject matter or the other person.Material distractions like excessive noise in the environment, bad network.Disparity in the opinion with the person who is speaking, which results in mentally shutting off the other person.Biasness also creeps in, when a person chooses to listen to only some part and ignore the rest of the part (Perry, 2009).Information overloadReceiving a message that contains too some(prenominal) information also acts as a barrier to effective communication. The receiver is not able to properly interpret or decipher the information because of too many facts. For instance, if the company has put up an advertisement regarding its new product or offer, and too much information has been put into it, then the customer habitude be able to digest all of it (4 Barriers to Effective Communication What to Do About Them, 2011).Non-Verbal GesturesAt times, it cogency happen that what a person is speaking is contradicted by his body language and gestures. When this happens, the other person is in all probability to remember what he saw and not what he heard.AssumptionsPostulating literally sabotages effective communication. For example, when the marketing head of Marks Spencer sees that his subordinates are nodding, he assumes that they understand what he is trying to convey, but the case may be entirely opposite as well (4 Barriers to Effective Communication What to Do About Them, 2011).Influence of finale and value on communicationEvery culture and every behavior involves the use of communication. thence, commu nication can be said to be a transmitting medium for the ideas and values of different culture. Personalities of people, their respective values and dread levels also influence communication (Hyde and Williamson, 2000).Cultural Individualism-Collectivism affects communication through cultural norms and values which are beneath the broad culture. This directly impacts communication by way of the characteristics that an individual nabs when he/she socializes. For instance, the Americans video display individualism, whereas, Asians display collectivism. As Marks Spencer offers its products to both these regions, the cultural differences in the two areas are to be thoroughly considered and thence plan its communication strategies (Abubaker, n.d).High as well as low linguistic context communication is followed in every culture throughout the globe. race following collectivism culture use high context communication while fostering group cohesion and communicate in a straightforward manner. People be pineing to individualistic culture use low context messages and communicate in an indirect manner.Cultures which are of high uncertainty avoidance nature follow unambiguous customs and norms to direct behavior for all kinds of situations. On the other hand, cultures with low uncertainty avoidance tendency are quite ambiguous and insufficiency formal strictness. Face negotiation theory is a theory concerning the behavior and discussion in opposed situations of people following collectivism and individualism. This theory is very popular for cross culture communication (Stubbs, n.d).Marks Spencer gives a lot of idiom to cultural disparities and tries to comprehend plus eliminate all such gaps. Some of the initiatives started by the company are-Cross Cultural exposure The Company sends its employees to other countries for a definite limit of time to acquaint them with other cultures. The employees stay there, work in other retail outlets of Marks Spencer and lea rn about the cultures and values of that place (Alon, 2000).Training and Workshops The company provides training and conducts workshops to train its executives in handling of non-homogeneous cultural issues and problems.Hiring multinational and multi cultural employees The organizations aims at hiring people from different cultures and nationality to create a synthesis of various cultures.Cognitive Dissonance This theory states that people are highly motivated to avoid differences in opinions arising out cultural disparities. People generally ignore listening to perspectives that contradict their own, in order to avoid conflicts and disharmony (Morton, 2005).The use of engine room- how it fosters and hinders communicationIt is an obvious fact that communication is the foundation of our society. The commencement of communication technology and its several benefits has made the conducting of business easier internationally.Cost Savings- Cost savings is the biggest advantage of the improvement of technology in business communication. Activities that once involved huge capital can now be finished off advantageously and in less time. For instance, prior to the commencement of Voice of Internet Protocol technology, making a long distance call was very costly. But, owing to VoIP and cellular telephone technology making calls has become very cheap. Similarly, earlier the only way to send letters from one place to another was to take the work of a messenger or postal service. The email, however, has eliminated the need to transport hard copies (Esmailzadeh, 2006).Speed- The new technology has also increased the speed at which business operations take place. This is especially beneficial to retail companies that establish interaction with suppliers in far-away locations. For instance, previously they had to plan meetings for individuals who are in different locations. Now, they can contact one another, sitting at their respective places owing to the video confere ncing techniques (Derr, 2002).Hiring of Qualified employees- Several jobs that never existed before have now been created. Skilled professionals are required to maintain, install and operate new information and communication technology tools.On the other hand, the same technology can also act as an impediment to the business communicationImpersonal Attitude Employees might view electronic communication as impersonal if they only receive messages from managers through email. It also creates confusion as this requires more feedback in comparison to personal communication methods.Security Issues The new technology also raises several security concerns. Emails, text messages and other website communication are often vulnerable to be hacked by hackers or other individuals who should not have any just access to information (Hoof and et.al., 2005).High tech Equipment Expense The Company has to acquire new equipments to implement business communication technology in its operations. It a lso requires hiring a person who is capable of handling maintenance issues. This is an spare cost to the company (Wood, 2010).Difficulty Training Employees Retail companies face difficulty training employees about how to desex use of the latest technology. They may have a difficult time making them understand the technology and how it work. The company might require shelling out a large sum of money on employee training (Miller, 2011).The procedure of communication from sender to receiverEncoder There should be a sender who wants s to communicate the idea.Message A message can be in various forms verbal, non verbal, written, and electronic.ChannelMessagesareconveyedthroughchannels,withnonverbalverbalsocialinteractions like televisions, telephone, meetings, conferences etc.Decoder A decoder is the person who receives the message from the sender and decodes it to get the real meaning.Feedback The receiver will give feedback as per his understanding of the message. context Thesituat ioninwhichyourmessageisdeliveredisthecontext (Guffe and Loewy, 2010).Recommendations for the improvement of the Marks Spencer communicationTo improve cultural communication between superiors subordinates, the following are the actions that can be takenImplementation of more Intensive Information System Technology plays an essential role in the activities of business, Therefore it is essential to improve the Information system of the organization by making sure that all of the employees will be connected to the latest updated communication system. It is also significant to focus on the various coaching and training procedures, where the recruits can apply for and get online class and seminars about different knowledge and skills, which will be supportive in order to fully motivate them to develop and improve, also leaders will have their thoughts about the demands and needs of the cater, which will be helpful in the process of implementing and planning programs and measures that will help to improve the motivation and spirit of the staff (Datamonitor Report, 2011).Focus more on the Culture influence on Communication It is important for the company to emphasis on the variety of cultures, and how it can influence their communication. Therefore the below mentioned things can be done to deepen communication in cultural differencesCross cultural trainingIntercultural management trainingTranslation services (Miller, 2011)Measures that should be taken to have an effective Communication PlanMinimizing barriers to effective communication.Rendering proper communication an integral part of the boilers suit plan.To bring out the untapped opportunities for improved communication, have effective systems in place.Conduct an assessment to evaluate the communication skills the retailer and find out areas which require polishing.Regular grooming for training employees in improving their interpersonal skills communication skills and.Employ team in charge of the overall Co mmunication of the company.Positive indicators that communication is more likely to be handled dailyVisible actions indicatorsA culture that endorses direct yet non-threatening dialogue in interpersonal relations.A culture that comprehends non-verbal communications (Aaker, 2007).CONCLUSIONThus it can be concluded that information is required by all stakeholder groups of an organization, though their information essential varies. In Marks Spencer both internal as well as external communication exists. Internal communication exists within the business of the retail giant, whereas external communication is present outside the boundaries of business. The company has an interconnected system of internal communication- internal network, an e-commerce system for B2C connections and an e-commerce system for B2B connections. Marks Spencer also gives a lot of emphasis to cultural disparities and tries to comprehend plus eliminate all such gaps (Alon, 2000).