PEOPLE

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Factors affecting company performance.

There are many factors which can affect a company's performance.

These could include

 The size of the company (large, small, international)

Essay help on PEOPLE

 The products they sell and who they sell to ( public, mass market etc)

 How the business is run ( PLC, LTD Sole Trader)

 Where they produce their merchandise (UK, Far East, Cheaper labour overseas)

 The state of the economy ( stable, recession)

 The Industry ( e.g. Retail, Leisure etc and how much is spent in the industry etc)

The factors which affect Marks & Spencer's financial performance include

The size of the company

Marks & Spencer's are a large and reputable company serving 10 million customers a week in over 00 stores in the UK and in over 0 countries worldwide.

In recent years Marks & Spencer's have found that some overseas stores have been making a loss so chose to dispose of them.

In the financial year ending 1st March 00 the sales from international operations fell by .% and operating profits were down 1% to £0.7 million since 001.

According to "A year in review" which forms part of the annual report " The Republic of Ireland sales were encouraging but franchises in Europe, the Middle East and Hong Kong experienced difficult trading conditions."

The French, Spanish and USA businesses owned by Marks & Spencer's were sold in a takeover bid and stores in Continental Europe were closed down.

Marks & Spencer's hope that the disposal of these businesses will reduce losses, and increase profits, by re-channelling the money into UK businesses.

Having such a large company can also affect decision making processes as each country has a different state of economy so where trade may be good in the UK , trade in the Far East may be slow due to a recession or other external factor.

As the company operates as a whole a poor performance in one country can affect the overall accounts and profit and loss made by the international business.

Products they sell and who they target

Marks & Spencer's sell a wide variety of products and services so they target quite a large section of the consumer market.

The products they sell include clothing and footwear, home ware, food and drink and financial services.

In the financial year 00 , clothing sales increased by .4% from 001 according to a year in review.

Food and Home Ware's increased sales by 5.7% and 4.% respectively.

The sales of financial services offered by Marks & Spencer's fell last year and the company suffered a £1.1 million loss due to the market being highly competitive.

As Marks & Spencer's only sell to the public it is important they keep producing products and services that customer want and continue to meet customer needs in order to be successful.

If they fail to do this customers will shop elsewhere and losses will be made.

Where products and merchandise are produced

In recent years Marks & Spencer's, alongside many other UK retailers, have moved production of their clothing and home ware ranges over to the Far East and Asia from the UK.

This is because the work force, property and materials are cheaper overseas which reduces the cost of expenditures and makes the profit mark up higher so more profit can be made.

The way the company is run

Marks & Spencer's are a Public Limited Company (PLC so has a board of directors who have been appointed by shareholders.

Decisions regarding the company can only be made by all shareholders using a majority vote system.

This means the company is effectively run by many people ( all shareholders) and that decisions regarding the company cannot be followed through without the full support of all shareholders.

This could help to eliminate risks and wrong decisions as shareholders want to make a profit and are more likely to think things through. Although it could work the other way where shareholders want to make a profit and make the wrong decision as they believe they will make more money and not think it through.

Competitors

Marks & Spencer's have many competitors including John Lewis, Debenhams, high street stores and supermarkets.

The clothing department of Marks & Spencer's have competition from other department stores such as Debenhams and from more niche market stores such as Top Shop, Wallis and Burtons who may offer more fashionable clothing at similar prices.

The food halls of Marks & Spencer's may suffer competition for places like Sainsburys and Asda as they offer food at much cheaper prices.

The home ware's main competitors are companies such as Habitat and Ikea.

The UK consumer market is becoming more price conscience and is now more likely than ever to shop around instead of sticking with one store (brand loyalty).

State of Economy

It is widely feared by the stock market that the UK and Europe are facing a recession.

If the UK suffers a recession the economy will suffer resulting in higher prices, job losses and less consumer spending.

During a recession the majority of the consumer market cut back on non-essential items such as clothing and home ware and reduce the amount spent on essential items such as food.

This means that Marks & Spencer's will suffer as people won't be buying clothing and are more likely to shop at cheaper supermarkets for items such as food.

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