Financial management is the central theme in business success. Several businesses use different techniques to manage their finances. In hypothetical business, Marks and Spencer’s inherent acquisition mechanism can help the businesses in deviating from the tactical management to the strategic management approach. However, their management approach has a lot of technical problem attachments. The following difficulty criteria of the inherent may be witnessed.
The first challenge is inherent complexity; it is so difficult to validate the factors surrounding the implementation of the management strategy. The bigger diverse cultural options may threaten the full inherent of the idea. The acquisition may be so complicated and difficult, hence attract very less attention among the staffs.
The other problem with this acquisition may involve a range of uncertainties and risks. This may run from the environmental risks in location and competition factors to the management risks, not forgetting the risk and uncertainties associated with cultural dynamics. Several questions may be raised as to whether the external conditions will change or remain the same. Will the people really adopt? This acquisition may look so uncertain to adopt and hence generate psychological difficulties.
Moreover, the element of resistance among the adopting culture may bring another challenge in the financial management process. The stakeholders' agenda desegregation requires an establishment of turnoffs and turn-ons among the works to acquire the implementation process. It therefore requires the stakeholders to imagine they were the stakeholders or they misjudge the stakeholders' agenda.
In addition, the internal complacency and competitor attack approach presents the challenge of limited financial growth in the inherent process
In conclusion Marks and Spencer hypothetical business present the tactical approach in business financial management. Its decline however, points to the fact that inherent characteristics may deem less successful in financial management
