Marks and Spencer Essay Example | Topics and Well Written Essays - 2250 words

Marks and Spencer - Essay Example According to the latest assurance statement being published, Marks and Spencer had been able to take care of most climate change issues, all of the 100 commitments that it made under Plan A and has also taken care of 32 of the safety and health standards underlying Plan A by 2009. But there are certain limitations in this regard as well. For instance, the company did not abide by the group performance degrees while claiming the completion of Plan A commitments. A lookout for prior to zeroing down upon a company are two aspects define the degree of responsibility that a company complies to while operating its business and their crucial nature often drives these companies to reach out any measures for accomplishing them. Marks and Spencer indeed had complied with the expectations of its investors and stakeholders as promised in Plan A. the company not only undertook measures to retain environmental sustainability but also indulged in community services which even helped it earn rewards from Business in the Community. However, there still remain subtle rooms for improvement in this aspect even though it had come a long way towards a better governance and sustainability position over the last few years.... They must be sufficient enough to motivate the employees to their jobs but not more than needed. In addition, remuneration is incentive based for executive directors, a chunk of whose incomes will base upon individual and organisation performance. However, the structure of their package should be decided in a transparent and fair manner. For instance, no executive will be indulged in deciding his own financial reimbursement. Audit Committee The Board must publish a comprehensible and evaluative company financial report at regular intervals and make transparent arrangements for implementing these reports. Furthermore, it is also the Committee’s responsibility to look after internal control of the firm to protect the interests of shareholders as well as that of the company. They produce an internal audit report where they mention the pace of work being carried on post submission of the report. This report identifies the risks as well as the weaknesses that the company is feature d with and have to be tackled in order to meet the annual targets. Shareholder Relations The company supports a timely dialogue interaction with its shareholders to arrive at mutually agreed company objectives. It is the Board’s responsibility to watch over the fact that a pleasing conversation takes place with the shareholders. In addition, investors should be allowed to fully participate in the Annual General Meetings of the company to voice out their concerns (Marks and Spencer Group plc, 2010). Institutional Shareholders There must be a mutual understanding between institutional investors and the company under concern. In addition, these shareholders have voting