MARKS AND SPENCER

Business Decision Making

Executive Summary

This report would provide information regarding business decision making of Marks and Spencer Group. The beginning of the report would provide information about the company. It would be followed by brief discussion regarding the problem that is being faced by the company. Later, the report would include graphical representation of the problem and conclusion on the basis of derived information. It would be followed by trend lines in order to forecast the decision making of the company. At the end, the report would provide recommendations for the management of the company to in order to over the problem being faced by the business along with the determination of critical path.

Executive Summary2

Introduction4

Task 35

3.1 The Problem5

3.2 Trend Line and Forecasting7

3.3 Presentation9

3.4 Business Report12

Task 414

4.1 Information Tool for Decision Making14

4.2 Project Plan for Overcoming the Business Problem14

Planning15

Forecasting15

Decision Making16

4.3 Financial Tools18

Self Evaluation19

Conclusion19

References21

Business Decision Making

Introduction

The aim of this report is to provide information regarding the decision making of business in Marks and Spencer Group. It would include discussion regarding the core problem being faced by the company along with secondary problems that are cause by the existence of core problem. It would assist readers to understand of management strategies and making tools can assist an organization to overcome its problem and work in the most effective and efficient way.

Business decision making is one of the most important element for any kind of profit making or nonprofit making organization. On one hand, organizations can enjoy tremendous benefits by effective and efficient business decision making. It can be a source of achieving a competitive edge over competitors. It can enable organizations to make improvements in each and every aspect of business processes. On the other hand, an organization that fails to make successful business decision making would be faced with severe negative consequences. Organizations like Marks and Spencer Group are facing huge competition from both local and international competitors. It would become extremely difficult for an organization to survive and compete in today's competitive world without effective management of business decision making.

Marks & Spencer is one of leading retailers of United Kingdom, with more than 21 million people visiting the stores each week (Market Line, 2013: 18). The product offerings of Marks & Spencer include high quality home products and clothing as well as exceptional quality foods reliably sourced from around 2,000 global suppliers. Marks & Spencer have employed around 78,000 people in United Kingdom and other countries with having more than 700 stores in United Kingdom with an expanding international business.

Marks & Spencer is the number one provider of lingerie and women's wear in the United Kingdom and is further growing its market share in kids wear and men's wear due to growth of online business. The 49% business of Marks & Spencer consists of sales from clothing and home ware. The remaining 51% of business constitutes of food, where it sells everything from fresh produced meals, groceries, partly prepared meals and ready to eat meals (Marks and Spencer plc2013, ...