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Marks and Spencer Report Assignment

   

Added on  2020-10-23

9 Pages2594 Words243 Views
CONTEXT OFBUSINESS

Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1Summary of business ..................................................................................................................1Vision statement of company, leadership styles, management practices and different strategies......................................................................................................................................................2Leadership style, management practices and various strategies implemented by the Marks &Spencer.........................................................................................................................................4Recommendations........................................................................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONBusiness is one of the activity or work that gain profit and generate revenue by selling orpurchasing goods or services in marketplace. Organization run their business by applying manystrategies and adopting some leadership styles that can be beneficial for all of them (Breevaartand et.al., 2014). The present report is based on Marks and Spencer company, that work in retailsector. It explains organization vision, management practices and leadership style and variousstrategies making use of different theories. Furthermore, it justifies how company can achievedtheir goals and implement strategies and also explains recommendation as improvement toorganization. TASKSummary of business Marks and Spencer is well known British international retailer in UK, they are recognizedas higher market share in London. Company is specialists in selling home products, clothing,luxury food product etc, it builds their positive image in marketplace as compare to others. Theyare listed on London Stock Exchange and essential of FTSE 100 Index. Michael Marks andThomas Spencer is the founder of M&S and founded in 1884. Organization sells healthy andbranded food products such as Kellogg's Corn Flakes etc. because people needs to eat healthythings and also need to stay fit in their lives, company give their contribution in it andmanufacture goods according to customers needs and requirement. They operate 979 storesacross UK including 615 stores that only sells food products. Firm become the first Britishretailer in 1998 by making pre- tax profit over than £1 billion, although later they went into all ofsudden slump which took firm and their stakeholders by surprise. Organization was founded bypartnership between Polish Jew and Michael Marks and Thomas Spencer. They staring their firstAsian store in Afghanistan and Kabul. M&S expand their business into Canada where they garbthe attention of people and increase profit more than the others, in expansion process firmopened its 47 stores across Canada as compare when they are starting their business. In Canada company shops size were too small than British outlets, but still they areserving good products. Company further efforts made them to modernize and also help to expandtheir customer base more than now. They also opened their shops in Paris which is one their bestexpansion process into France. Paris shops make M&S more popular than its competitors andincrease their profitability. Firm restructure their food stores and avail all the necessary things or1

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