MSc Management Leading through Digital Disruption Assignment Sample 2023
The “digital disruption,” which refers to the transformation that occurs when new digital goods, skills, marketing strategies, and capabilities have an impact on and alter the market value of the sector’s already-existing services and products. The report will examine the digital disruption keeps the possibility of change front and centre (Skog et. al. 2018).
The firm chosen for this report is Mark and Spencer. It is a multi-national shop that specialises in selling products for the home, food, beauty, and fashion industries. Additionally, the company’s relationship with the digital business agility model will be covered.
Task 1: The case for change
The level of market competition is rising quickly, and every organisation is implementing change or adopt new technology to gain a competitive advantage (Mellahi et. al. 2002). Digital change is a word used to describe a phenomenon of change brought on by the adoption of digital information and communication technology.
The company chosen for this study is “Marks & Spencer’s.” As M&S is a significant British international retailer with headquarters in Paddington, London, England, that specialises in selling apparel, beauty, home, and food products, it has its main operations there (Burt et. al. 2002).
This corporation is confronting some of the threats that the business is facing and that force it to undergo a technology innovation due to the fact that it is a retailer. This corporation is dealing with some of the challenges the industry is dealing with, which compels it to implement a technological breakthrough.
Process of Marks and Spencer’s multi-step digital transformation:
New platform: The M&S website was hosted on an Amazon infrastructure until it was launched this year. Naturally, M&S desired to take charge of its own internet presence. It accomplished this by putting publication and content at the centre of its business model, in addition to creating its own e-commerce website from the ground up.
If they initially view editorial content, customers are 24% more likely to make a purchase from a website. Marks and Spencer performed all the user testing and categorization people might anticipate with a beta site in order to re-platform the site, but it also examined the outside environment (Resca and Spagnoletti, 2014). There are about 100 million accesses to fashion businesses on the UK high street in a normal week.
But only about 16% of all apparel sales are really done digitally. Either e-commerce is performing poorly, or it is performing quite differently. E-commerce serves as a continuous retail shop for the visual identity interaction. While a sizable portion of users will access the website and decide to make in-store purchases, others will browse and convert digitally.
The necessity to accommodate users of mobile devices, this trend, and a strong emphasis on content and curation were all taken into consideration when building M&S’s new website.
New digital mindset: The company has just a limited amount of digital capacity. Transformation required a top-down, boardroom-based approach in order to be successful. In order to achieve this, it hired an e-commerce expert, appointed them to the board, and ensured that the non-executive staff had a digital focus.
Additionally, the team gave a one-and-a-half-day intensive course in digital to the top 100 employees in the company. The second hurdle was getting every employee at its retail stores to stop treating the internet like the enemy (Verhoef and Bijmolt, 2019). The second hurdle was getting every employee at its online shops to stop treating the internet like the adversary.
Many salespeople were displeased since they would work so hard to convince a customer to buy a product, only for the consumer to leave and complete the transaction online. As a result, their sales goals were not met.
Figure 1 New Digital Mindset
(Source- Marks and Spencer’s three steps to digital transformation, 2022)
Objective of digital Transformation-
- Innovations in Competitive Advantage.
- Enhance profitability
- Obtain the desired market
- Boost Personnel Performance
- New business structures
Information technology’s main purpose is to enhance customer engagement online by delivering real-world experiences through digital tools. M&S constantly works to adopt software in order to offer a unique client experience and boost competitiveness.
Task 2: Gaining Digital Business Agility
Digital Business Agility Model:
Business agility is the capacity to compete and prosper in the digital era. It refers to the simplicity with which a company can quickly activate, refresh, modify, or change its operations. The procedures, equipment, and software that an organisation employs to carry out fundamental business operations are included in this particular branch of business agility.
The software in M&S industry information technology stack is one component of digital agility (Mirković et. al. 2019). The value of adaptability in digital marketing is highlighted here. Marketing Efficiency is increased by Agility Moving quickly is being flexible. Agile digital marketers therefore take the appropriate action at the appropriate time. According to the most recent inflow of data, agility aids marketers in concentrating on more targeted marketing.
Model for digital business agility
Every organisation must have all three of the components of the online business agility framework in order to implement change successfully and exploit opportunities advantages and threats.
Hyperawareness- Digital Marketing Plan, a fresh digital revolutionary strategy, has been used by Marks and Spences companies. With the aim of introducing electronic goods through the use of social media marketing and facilitating online purchases, it was built utilising the SOSTAC model. SOSTAC Model components include (Xu and Koivumäki, 2019):
- Situational Analysis: This is the initial section of the digital marketing strategy, and it examines the competition and customer situation as they are within Marks & Spencer at the moment.
- Analysis of Goals: The goal of the digital marketing strategy is to introduce a new line of electronic products by utilising a social media marketing campaign.
- Strategy: The digital marketing plan would be centred on creating plans for successfully launching electronic products in the UK market by utilising social media campaigns.
- To ensure that its social media campaign helps the company launch electronic products in the UK market, M&S would look to establish strategies as part of the digital marketing process.
- Actions: that are planned to achieve the goals and strategies outlined for digital marketing.
Informed decision-making- Marks and Spencer has incorporated the usage of new distribution channels, platforms, and digital mindsets. The business sells things for the home, body, fashion, and food. As M&S once did, it used a number of facilities across the nation to fulfil orders. Because of this, M&S needed to invest in a productive distribution network in addition to the front end.
Providing an effective centralised service will ensure the best possible customer service and lower unit cost. In e-commerce, logistics is one of the single highest costs (Saputra et. al. 2022). As an illustration, M&S produces and publishes a lot of material on social media and other channels in an effort to attract their target audience’s attention.
As a result, it creates new material specifically for each platform instead of just reposting existing information across all channels to ensure that the desired message reaches the appropriate audience. In 1999, Marks and Spencer began trading online for the first time, just five years after the very first online transaction was ever completed. On that day, M&S made £1,200. Today, M&S earns that sum every several minutes.
Execute Fast- The information gathered has also helped M&S Clothing formulate ideas for where the store should be located and what kind of logistics the company needs to operate (Petrucelli, 2017). Therefore, by providing all clients with products and services that meet their actual expectations, their timely need can be satisfied.
M&S Company should deploy one programme and one digital technology-
The M&S apparel chain needs to lead the way in fostering a successful development by maximising the usage of the products, services, food quality, home product specialisation, and other environmental factors. This is vital since both the government and the workforce are worried about the environment.
By adopting such action, the business might develop and endure even in a market that is competitive. In order to save materials and provide the most benefits to society’s residents, it is necessary to invest in more cutting-edge technology.
Virtual reality, on the other hand, is a modern transformation that M&S Clothing Store must employ in order to provide customers an impression of the standard of the goods and services it offers (Fagerlin et. al. 2006). It will help people perceive things as genuine, which they may readily experience and decide to acquire in order to satisfy their desires.
Customers will be assisted in making the best selection at the correct moment to purchase a product and fulfil their actual expectations in the best way by these innovative ideas and the usage of new technologies.
Task 3: Create digital ready culture
Culture of information technology usage at M&S Clothing Store:
A recognized, making positive set of beliefs and behaviours known as a “digitally-ready culture” enables excellent performance in a company setting when digital capabilities are available (SMITH, 2021). Consequently, the advice about the actions that M&S Clothing, Home, and international businesses might do to create a digitally ready culture can be interpreted as follows:
Placing a priority on customers- The focus of the international retailer M&S is on figuring out how to satisfy the needs of its customers. For this reason, the company has employed artificial intelligence, which has helped in gathering, evaluating, and understanding necessary data on the enterprise customers (Batmaz et. al. 2016).
The emotional motivation a consumer has to purchase business good or service is referred to as customer priority. Therefore, M&S Store may provide a good that satisfies a significant need or desire for the purchaser; yet, the client’s willingness to purchase that good or service at a specific time is determined by primary consideration. The most crucial factor in prioritization is how much work it will take to persuade a buyer to buy their product. Additionally, that will affect how much of the good or service the buyer decides to buy.
Fostering collaboration in the workplace-The business must also concentrate on fostering a culture of collaboration, in which it must direct each employee with regard to their specific tasks in carrying about the digital revolution. The M&S website was housed on an Amazon platform before to this year’s launch. Naturally, M&S desired to take charge of its own internet presence.
Therefore, everyone at the company is prepared to collaborate as a team to use digital technology effectively and in the way that is intended (Matt et. al. 2015). Collaboration at work elevates teamwork to a new level. It enables co-workers at the M&S Store to collaborate and share ideas in order to accomplish a common objective. Collaboration at work, when done well, can benefit the M&S Store team and company. Efficiency, innovation, and team dynamics can all be enhanced via collaboration.
Creating an innovation-oriented culture- A culture of innovation has already been formed at the international M&S store through the right training and counselling of staff members regarding the incorporation of technology. Additionally, businesses can reward people who have made a significant effort to introduce unique ideas that they can use to accomplish digitalization (Tomičić Furjan et. al. 2020).
A corporate culture that truly promotes and encourages innovation enables employees to genuinely bring about innovation. Although M&S innovative company cultures share a lot in common, there are also unique variances amongst businesses.
Achieving digital excellence- This is the final advice for M&S Clothing Store in order to determine whether it has successfully provided content on various platforms and become a digital champion. Additionally, by gathering client feedback on its services in order to influence potential customers to make the same purchases.
Thus, M&S Store was able to engage the greatest number of customers in the business and become a digital leader by utilising different platforms (Miller, 2020). Digital excellence is a process and culture of ongoing development. Choosing the best approach and partner is essential for any asset management organisation in this difficult area.
Task 4: Steer Collaboration
Job Description for Marketing Manager
Job title- Marketing Manager
Location –Marks& Spencer, London, England
Terms – Permanent employees
Requirements – a bachelor’s degree in business administration, finance, or a related field at least two years of marketing manager experience
We are a significant British international retailer with a focus on selling apparel, cosmetics, home goods, and food items.
About the role and responsibilities
· Analysing and improving pricing and marketing methods.
· Examining market trends and forecasting.
· Producing fresh company leads.
· Increasing market share and brand recognition.
· Collaborating with the production, sales, finance, and public relations departments to coordinate marketing initiatives.
· The budget for the marketing division is created and managed.
· Managing branding, advertising, and marketing initiatives.
· Directing the personnel in the marketing department.
· Creating and presenting annual and quarterly reports to upper management.
Skills and knowledge required by candidate
· Leadership qualities
· technical expertise
· Organizing abilities
· talents in communication
The way that CCO could improve coordination between the team member and the company department is as follows:
By taking the three procedures highlighted below, CCO will improve communication between the team member and department.
Transparency is a good thing to practise- In this process, the team leader must acknowledge his or her own shortcomings in order to be more cooperative with the team members. The company’s CCO maintains parity between team members and departments, fostering a positive work atmosphere (Kane et. al. 2015).
Promote open feedback- The company’s CCO invites comments to improve workplace collaboration, which directly contributes to fulfilling tasks and goals.
Task 5: Develop your leader
Goleman’s leadership style
It is possible to define Goleman’s leadership as the manner in which a team member is inspired to work hard and effectively to complete a task. This leadership focuses on giving the team members constant encouragement so they can accomplish the goals and targets at hand.
Various leadership philosophies are included in the Goleman model of leadership (Creeber and Martin, 2008). In light of M&S Multinational Store’s digital transition, some of these are detailed below:
Figure 2 Leadership Styles by Goleman
(Source- Leadership Styles Goleman – Meaning & Importance, 2021)
Leadership style of coaching: The word itself indicates to the steps taken to help the team members grow. The leader develops a digital platform where each person has their own identity. The best options for achieving the aim and targets are guided by this identification.
Team members or individual employees can enhance their working styles in the workplace and contribute to increasing sales by simply reading and implementing the instructions provided on the digital platform (Gnyawali and Park, 2011).
Coercive leadership: This type of leadership relies on giving orders or directives to achieve desired results. Using the digital platform, leaders from a different location or branch of the M&S Multinational shop can direct and command, which will help solve the issue at work efficiently and promptly (Mandell and Pherwani, 2003). The M&S leader uses digital technology to provide simultaneous commands to every member of the group.
The M&S apparel store’s growth strategies are as follows:
Goals-In order to accomplish both objectives simultaneously, the company’s leader chooses the individual aim that is related to the group goal. The manager and the workers now present at the workplace together reach the choice (Watts and Corrie, 2022).
Current events-M&S shop managers keep an eye on the circumstances that are now in play in order to determine the true status of the work process. In this instance, one team member fails to receive some of the information required to complete the task.
Figure 3 Grow Model
(Source- The Grow model, 2021)
Obstacle-The head of the M&S company considers all choices after receiving the actual or genuine report during the process in order to meet the goal and objective on schedule.
Way ahead-The M&S company’s leader solicits members’ commitment to carry out all planned actions in the manner necessary to successfully complete the work and reach the objective.
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|Task 1 – The Case for Change||(Merit) – Since I discussed the organisation, the reasons for its digitalization, and its goals, I will receive credit for my efforts.|
|Task 2 – Gaining Digital Business Agility||(Merit) – Successfully implemented the Gaining Digital Business Agility model for the organisation and made notice of the project and technology employed to make a distinction.|
|Task 3 – Create a Digital Ready Culture||(Distinction) – Offer suggestions on how M&S Store should develop a culture of digital readiness so that it would stand out.|
|Task 4 – Steer Collaboration||(Merit) – Make sure to include the roles, responsibilities, and manner of collaboration in job descriptions to earn points.|
|Task 5 – Develop your Leaders||(Merit) – Utilize the Grow Model and Goleman Leadership to comprehend how a corporation implements leadership to bring about digital transformation so that it will stand out.|