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Assignment on Strategic Issues of M&S

   

Added on  2020-02-05

14 Pages3952 Words71 Views
STRATEGICPLANNING

INDEXINTRODUCTION................................................................................................................................4Assignment...........................................................................................................................................41. Key strategic issues of M&S (600)(1200) (900).....................................................................42. Capabilities, resources and CSFs of M&S...............................................................................63. Effective use of strategic planning and competitiveness.......................................................112

INTRODUCTIONStrategic management is the systematic process that assist in building capabilities andcreating value for the consumers. It involves formulation of mission, vision, developing policiesaccordingly and allocate resources so that objective of the entity can be accomplished. It is aboutidentification and description of strategies in order to improve overall performance of thecompany. Present report is based on the marks and Spencer which is British multinationalretailer and working tremendous in the global market. Cited firm has more than 852 physicaloutlets in UK and many more in International market. Current assignment will discuss the threestrategic issues of M&S. It will describe the unique capabilities, resources of cited firm in orderto identify the key factors that give competitive advantage to the entity. In addition, study willassess competitive strategy that can help in addressing the strategic issues of M&S. ASSIGNMENT1. Key strategic issues of M&S (600)(1200) (900)M&S offers wide range of cloths, luxury food, footwear and gift to consumers. It hasdeveloped its strong brand reputation which help the cited firm in gaining competitive advantage.Company wants to enhance its profit and working on reducing wastage so that it can minimize itsoperational cost. It wants to serve quality products and services to costumers so that they be loyaltowards the brand and retain for longer duration. In-spite of having strong market position, M&Sis facing strategic issues which are creating problem for the organization. From the M&S fiveforces these issues have been identified by the chief executive of outside consultancy reportingunit. Porter's five is the effective model that can support in measuring the effectiveness ofoperations.Supplier chainM&S provides variety of cloths to public, it has special collection for man and women.These materials are supplied by several suppliers. But these are limited suppliers and cited firmdo not have relationship with any other alternative supplier. It purchases raw material fromBritish suppliers thus, it has poor chain of suppliers. It concentrates on few suppliers that is whysometimes cloths and other material can get delay. That is why company fails to provideproducts to customers on time. 3

Poor supplier chain is the main strategic issue for the M&S because due to this companyfails to provide products and services to end users on time. Sometimes due to this, problemsconsumers buy from other brand. It turns their mind and they get negative towards the brand. Formaking people loyal towards the organization it is essential that company offers them goods andservices as per their demand and if it fails then overall image of the organization get down. Employees turn overFrom the SWOT analyses of M&S it is found that marks and Spencer is facing the issueof high employees turn over. It is another main problems in the organization which affects itsbusiness performance badly. M&S follows tall organizational structure die to this, people cannot communicate directly with the higher authorities. The have to follow instruction of managersstrictly. Management of cited firm do not involve them in decision making process. Sometimes itleads to negativity and that is why people feel unconformable in the workplace and they live thejob. Due to high employees turn over operational cost of the company is increasing day by day.Though authorities provides them rewards and recognition to the best performer but it is done ininformal way. Managers give promotional opportunity to their favorite staff members that is whyother people feel dishearten and they find no career opportunities in the workplace. In addition,no involvement of staff members in decision making process make them negative and they lookfor new job. That is why company is facing the strategic issue of high retention rate ofemployees turnover. That is the strategic problems because due to this cited firm fails to accomplish itsobjective significantly. When skilled people leave the job then M&S has to hire new candidateand firm has to train them again. Apart from this efficiency level of new comers are lower thanexperienced skill persons. Thus, they do not provide excellent services to consumers thatdemotivate clients and turn their mind. This impact on the profitability of the company, salesvolume can get down due to poor service delivery. Poor marketing strategyFrom the PESTLE analyses it is found that Marks and Spencer is having poor marketingstrategies that is the strategic issues for the cited firm. M&S is advertising its products on TV andusing promotional camps to market its products. It is the modern era and there are advancedtechnologies hat can support in marketing the product well. Internet is the biggest way that can4

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