logo

Business Strategy Assignment- Marks& Spencer PLC

14 Pages3986 Words27 Views
   

Added on  2020-06-06

Business Strategy Assignment- Marks& Spencer PLC

   Added on 2020-06-06

ShareRelated Documents
BUSINESS STRATEGY
Business Strategy Assignment- Marks& Spencer PLC_1
Business Strategy Assignment- Marks& Spencer PLC_2
Business Strategy Assignment- Marks& Spencer PLC_3
INTRODUCTIONBusiness strategy defines as a plan of a firm for achieving specific organisationalobjectives; these goals assist corporations in gaining competitive advantage, expanding thebusiness, and building a strong financial position (London and Hart, 2011). A company has tocontinuously maintain and update its strategies as per market requirements because the failure ofpolicies results in winding up of the firm. Marks& Spencer PLC was founded in 1884 by thepartnership of Michael Marks and Thomas Spencer; it is a British international retailer whichoperates in the retailing industry. The head office of the corporation is situated in City ofWestminster, London. The domestic retail stores of the company offer both clothing and foodoptions to its customers. Marks & Spencer has more than 979 retail stores in the UnitedKingdom and more than 454 international markets. The company provides its services in 55international territories with the help of more than 84,939 employees. It is the largest clothingretailers in the United Kingdom along with being in food retaining business as well. The business strategy of the company focus on using British made goods in productionwhich assist in gaining domestic success; the corporation is known for manufacturing high-quality products and providing convenient services to its customers (Pugh and Bourgeois, 2011).After the success of its food and clothing stores, Marks & Spencer started offering other productsto its customers such as furniture, technology and homeware. In 1973, the company started itsinternational expansion by establishing its fashion retail stores in Canada, due to its reputationfor providing high-quality services; the company quickly captured Canadian retail market. In1975, M&S started it Europe expansion by opening clothing stores in Paris, France, whichbecame a significant success for the company, one of the primary target demographic for M&S issenior citizens, they offer many facilities in their stores to ensure that old people have anexcelled and easy shopping experience.This report will discuss the mission, vision, and objective of “Marks & Spencer PLC”along with its core competencies to analyse various aspects of formulating a strategic plan forthem. The report will further evaluate the effectiveness of SPACE and BCG matrix for Marks &Spencer. The file will include organisational and external audit for M&S and also suggest newstrategies based on such examinations after determining the importance of measuringstakeholders’ interest. The report will evaluate alternate policies for substantive development,new market entrance, retrenchment and limited growth and further justify such theories based on1
Business Strategy Assignment- Marks& Spencer PLC_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
(PDF) Business Strategy Assignment Solutions
|21
|6419
|260

Leadership Styles and Management Practices of Marks & Spencer
|9
|2207
|92

Strategic Management: Methods, Leadership Styles, Change Management, and Sustainability
|11
|3422
|76

Mark and Spencer PLC London Research Paper 2022
|11
|3481
|10

Strategic Management in Marks and Spencer PLC
|12
|4257
|49

Marks and Spencer Corporate Social Responsibility
|17
|3320
|151