Business Strategy: Analysis of Marks and Spencer

Business Strategy
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 ...........................................................................................................................................3
TASK 2............................................................................................................................................7
P2............................................................................................................................................7
TASK 3..........................................................................................................................................11
P3 .........................................................................................................................................11
TASK 4..........................................................................................................................................13
P4 .........................................................................................................................................13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
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INTRODUCTION
Business strategy is related to the actions and collected decisions that helps entrepreneurs
in accomplishing goal as well as predetermined objectives in an effective and efficient way
(Business Strategy: Definition, Levels, Components & Examples, 2020). In simple words,
business strategy is master plan that management team of business firm implements to gain
competitive advantages with market area, pleasing consumers, carrying operations and achieving
desired ends of firm. It is also called long sketch of set direction, image and destination of
business. In this report, two different organisation has been selected where first is Marks and
Spencer which was introduced in 1884 at Leeds, UK. This deals in retail segment and specialised
in clothing, food, home products. Similarly, second organisation selected is JP Morgan founded
in 2000 at United States. It is multinational financial services and investment bank holding
organisation. The main aim of report is to use different approaches along with their effect and
impact of macro environment on business. It has also highlighted internal environment and
capableness of selected organisation by using frameworks. This report has covered Porter's five
forces which help in evaluating competitive aspects of market in best manner. There are several
framework, concepts as well as theories used for strategic planning in effective manner.
TASK 1
P1
Marks and Spenser is major British international retailer whose headquarter is located at
Westminster, London (Amran and et. al., 2016). Respective organisation was introduced in 1884
and its founder was Michael Marks and Thomas Spencer. Mark and Spenser is well known for
selling their high quality clothing, food products as well as home products which they are
offering at worldwide level.
Mission: Mark and Spenser Mission is to provide premium quality products to their customer's
which help them in approaching people within effective manner. Mission statement is “To make
inspirational quality which will be approachable to others.”
Vision: Mark and Spenser Vision is to gain benchmarking which other setted by other
organisation. Vision statement of M&S is “To be the standard against which others measured
benchmarking.”
Objectives
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There are several key objective of Mark and Spenser explanation of these are as
follows :-
Orientation of staff members - Expectation of company is high in relation of
contribution to organisation because there is need in company for its succession management.
Mark and Spenser have to create way for their employees. It is important for M&S retail
company is to retain their staff, attract them as well as also motivate for conducting business
operations in effective manner and to deliver improved products to customers.
Objectives of company – Objective of M&S is to gain leadership again in clothing as
well as special food items (Budayan, Dikmen and Birgonul, 2015). This organisational objective
accomplish through translation of their authority as well as scale within high quality products,
attractiveness and values.
Objectives related to sales - Respective business firm believes that there are numerous
ways through which sales of M&S can improve. Mark and Spenser saw return per foot as their
operational objectives through which they can go forward.
Strategy
It is the action which an manager take within their organisation with the motive of
accomplishing one or more goals (Cubas‐Díaz and Martinez Sedano, 2018). In simple terms it
can be said that, strategy is general direction which set for business firm as well as there are
several components within it which help in accomplishment of wanted state in future. Strategy
can also explain as knowledge of goals, doubt of events as well as it also require to consider
behaviour of others. In addition to this, strategy in an business firm work as blue print related to
decision making which shows its goals as well as objectives and many more. Several role
performed by strategy in organisation which help in accomplishing objectives as well as goals of
M&S. Description of these are mention below :-
 Strategy is important because without this it is not possible for Mark and Spencer
anticipate the future. With the assistance of effective strategy respective company can
deal with uncertain events in effective manner which take place within business
environment.
 It provide assistance to Mark ans Spencer within their long term development instead of
focusing on their daily basis operations. For instance new methods of production, dealing
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