logo

Business Strategy for Marks & Spencer

   

Added on  2020-10-05

15 Pages4379 Words373 Views
Business Strategy for Marks & Spencer
Business Strategy for Marks & Spencer_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3EXECUTIVE SUMMARY.............................................................................................................3BACKGROUND STATEMENT....................................................................................................3ORGANISATIONAL STRUCTURE.............................................................................................4MISSION STATEMENT................................................................................................................4VISION............................................................................................................................................4VALUE............................................................................................................................................4MARKET ANALYSES...................................................................................................................5COMPETITOR ANALYSES..........................................................................................................2SWOT ANALYSES........................................................................................................................4PORTFOLIO ANALYSES.............................................................................................................6KEY STRATEGIC GOAL..............................................................................................................6SMART OBJECTIVES...................................................................................................................6RESOURCE IMPLICATION.........................................................................................................7EVALUATING AND MONITORING THE PLAN.......................................................................7SUITABILITY, APPROPRIATE AND Feasibility........................................................................7CONCLUSION................................................................................................................................8
Business Strategy for Marks & Spencer_2
INTRODUCTIONBusiness strategy is the organizations working plan for attaining the goals set up by themand also the strategy helps firm in achieving its vision and mission. It assists company in meetingout the financial goals. Report will lay emphasis on Marks and Spencer. It is a Britishmultinational company whose headquarter is in Westminster, London. Company has beenspecialised in selling luxury product such as clothing, food or home products. It has also beenlisted in London stock exchange. Currently company has 957 stores operating in UK. Firm hasbeen trying to expand their business globally. Report will lay emphasis on Macro environmentalfactors that affects company’s decision making. It will also analyse strength and weakness ofMarks and Spencer. Study will present the competitors' analysis of Marks and Spencer throughPorters five forces. It will also lay focus on strategic management plan that will assistorganization in achieving goal and objectives of firm. It also describes the vision, mission andobjectives of the company (Prajogo, 2016)EXECUTIVE SUMMARYThis strategic plan focuses on Marks & Spencer group Plc to develop new product in theexisting market in which it deals. The plan will include history of the company and details ofsupporting partners or agencies. Also, the organisational structure will be emphasised in the plan.The plan will highlight mission and vision of Marks & Spencer. After that market analysis willbe done with the help of Ans off Matrix. Then strategic goals and smart Objectives of newproduct development will be highlighted. Resource which will be used in development of newproduct used by the company will be discussed. In the end, Plan will be evaluate and monitor bySAF model. This model includes Suitability, appropriate and feasibility test of the new productdevelopment which will be highlighted in the plan.BACKGROUND STATEMENTHistory of Marks & Spencer group PlcThe company was started as a stall by Michael Marks in 1884. His aim was to selldurable products at moderate price. In 1894, Thomas Spencer joined the company. The companywas dealing and supplying clothing and food products(Bapat and Mazumdar, 2015.). Marks &Spencer became Public limited in 1925. Till 1998, there were almost 500 Marks & Spencerstores in the world. Supporting Partners or Agencies of Marks & Spencer
Business Strategy for Marks & Spencer_3
UK Franchise Partners are WHSmith, MOTO, COMPASS Group, SSP(Select ServicePartners), BP.International Franchise Partners are Al-Futtaim Group, Alhokair fashion retail, CentralGroup, Creasey's Limited, FIBA Group, Galloway SL, Lagardere Travel Retail,Marinopoulos Group, Martel Group, P.T Mitra, Reliance Retail, Rustan MarketingSpecialists Inc.(RMSI), S Group, Sandpiperci, SGH, Supermarkets Ltd and RetailInternational, Symeonides Fashion House, The english sports shop Ltd., Voici La ModeGroup of Companies, York Ltd.ORGANISATIONAL STRUCTUREFigure 1Figure 1: Organisational Structure(Source: organizational structure of the company,2019)MISSION STATEMENTTo provide cost-effective, innovations, and the best quality of service to customers.VISIONTo become best brand of UK for luxurious products. VALUEMarks & Spencer group Plc donates business surplus and clothing to new life and shelteralso donates foods to Fare share. The company also raised fund for cancer.4
Business Strategy for Marks & Spencer_4

End of preview

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

Related Documents
Strategic Management: Analysis of Marks and Spencer
|12
|3950
|74

Business Strategy Assignment- Marks& Spencer PLC
|14
|3986
|27

Business Strategy of M&S - Study
|14
|4705
|104

Value and Contribution to Organizational Success
|12
|4279
|32

Planning a Mentoring Program: Effective Strategies and Importance
|9
|2665
|207

Strategic Plans and Objectives of Marks and Spencer : Assignment
|18
|4827
|158