For any business there are different types of stakeholders but for Marks and

For any business there are different types of

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happy. For any business, there are different types of stakeholders, but for Marks and Spencer in its case, its key stakeholders include, its employees, the government, its consumers, and its suppliers. In its consumer relationship management feedback that the company identifies that it has brand loyalty and satisfied consumers. Good existing relationships as such are in the end converted into partnership and coalitions which built trust between marks and Spencer and its stakeholders. Nevertheless, Marks & Spencer has different ways of managing its stakeholders, (Samantha, 2012) For the government, the company makes sure that its manages the government expectations by working with it in its wide range of policy development efforts on areas like trade, employability, consumer affairs and other laws. Doing this not only enables Marks & Spencer to follow the governmental rules and regulations, but it also enables it entice the government in coming up with policies which favor it through the good relationships established in its engagements in a number of political audiences. Its customer relationship management strategy makes use of Marks & Spencer’s customer insight unit that makes sure the customers needs inform every aspect of decision-making. Understanding its consumer’s needs as mentioned before not only does it enable to align its business strategies in line with them but it also enables the company to gain consumer satisfaction as their needs are met .Marks & Spencer makes use of research, focus groups and customer feedback so as to stay in touch with its consumer monthly. Doing so enables the company to know what to change in their products and what is satisfactory to its consumers and helps its gain competitive advantage in the market place. Marks & Spencer knows that employees are one of its key stakeholders and have done everything to maintain a good relationship with them. The company has done this by practically showing its commitment in the employee retirement, promotion, appraisal, training and development and recruitment and selection processes. In addition to that, the company has also provided its workers with a healthy working environment. Doing this is important as Marks and Spencer’s employees become confidence and comfortable in their business environment which enables it to perform its work effectively and produce quality products and services Marks and Spencer has managed its suppliers by ensuring that all its suppliers are paid above the minimum wage and they are treated well which develops trust between the two. Doing this is important as it enables the company’s products to be of good quality and arrive in time. Managing all their stakeholders ensures that the organization is able to attain its objectives and goals both internally and
externally and that a positive relationship is created through them and the company through good and effective management of their expectations. Marks and Spencer’s stakeholder management has enabled

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