Continuing Professional Development and Strategic Management

This article discusses the importance of professional development and strategic management in the retail industry. It provides a SWOT analysis and Porter's five forces analysis for Marks and Spencer, a leading retail brand in the UK. The article highlights the company's strengths, weaknesses, opportunities, and threats, and suggests ways to manage the competitive forces in the market. The article is relevant for students studying business management, marketing, and retail management.

Continuing
Professional
Development and
Strategic Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
1a. SWOT analysis and Porter's five forces.................................................................................3
1b. Reflection on the running of the simulated business...........................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
Books and Journals:...................................................................................................................13

INTRODUCTION
Professional development can be understood as the process of knowing objectives and
learning new capabilities or skills to aid one to grow and success in their respective work. It may
lead to a change in job or promotion at work, or simply to doing better in an existing position.
Wherever it leads the person, professional evolution covers these elements such as creating an
insight of success, formal and informal assessments, knowledge of the skills needed to succeed
as well as a personal development plan. Hence, professional development is for anyone who
willing to take essential steps towards their learning, along with growth. Moreover, the key goal
is to keep a person updated on present trends and aid in developing new skills for the aim of
advancement in the field. Strategic management can be understood as the management of the
company's resources to finish its goals and aims. It covers establishment of aims, assessing the
business environment, examining intrinsic business environment, evaluating the plans and tactics
and making sure that the management rolls out the plans all around the business. In order to
complete this assignment, there is a need to choose specific industry so that competitive forces
can be known for the organization (Al Wazzan, 2018). The chosen industry is retail industry
which is one of the booming industries. Marks and Spencer has been chosen to complete this
assessment. It is one of the well-known international retail organisations in United Kingdom.
This retail organisation is headquartered in Paddington, London, United Kingdom and highly
known for its clothing, home products, food, along with beauty products. This organisation has
its outlets across the United Kingdom. SWOT analysis will be applied on the business in order to
know its capabilities and strengths, along with its weaknesses, opportunities and threats. Porter's
five forces will be used to analyse the industry and chosen sector i.e. retail sector.
TASK
1a. SWOT analysis and Porter's five forces
SWOT analysis: SWOT analysis is a useful framework that helps in analysing various
areas of business such as strengths, weaknesses, opportunities and threats of business. In the
model, the internal factors are strengths and weaknesses, while external factors are opportunities,
along with threats (Alstete and Beutell, 2020). This act as a proven tool that allows an
organisation to measure its performance of business as compared to the other key players in the
market. As Marks and Spencer is one of the leading retail brands in the retail and lifestyle

industry, it is essential for them to acknowledge all those factors in the business environment. In
addition to Marks and Spencer, SWOT analysis has been explained further:
Strengths: Clear brand image: It is seen that Marks and Spencer positions itself as one of the high-
end or luxury brands which aims to target their premium segment. With an intent to target
their premium customers, they merchandise their goods and services which are highly
stylish, refined and modern in looks (Ansoff and et.al., 2018). This has resulted in
building clear image and customers are clear of what to demand or anticipate for the
M&S outlet. Private labels: With an addition to merchandising luxury brands such as Versace, Vero
Moda, Louis Vuitton and so on, M&S also has their personal labels in nearly all
collections. Some of the main label brands are Indigo Collection, Per Una, Autograph,
North Coast and Classic Collection. These private labels have been flourishing in
creating consumers acquainted with the brand and also increased brand recall. Innovations: It is seen that the chosen brand is highly known for the innovations and
creativity in their products and services. They encouraged due to their spirit of
innovation. Innovation in M&S is also substitutable with creativity, along with
communication and employees across levels are inspired to conceive out of the box and
propose opinions wherever they feel required.

 Diversity: M&S have approximately 80,000 workers and employees who perform their
duties in their outlets and showrooms all over the world. It improved diversity and thus
have individuals from all religions, ethnicities and genders. M&S has an equal
opportunity brand and make sure that there is zero discrimination of any form at the
workplace (Arıcıoğlu and Yiğitol, 2019). All these factors make sure that the workers are
culturally erogenous and comprehend the consumer better. Multichannel presence: The chosen organization has both brick and mortar, together
with online outlets while offering franchising options. The business has around 300 full-
line stores, 910 outlets in the UK, 310 franchised and 220 owned simply food stores.
Furthermore, they also created an online store from where clients all around the world
can buy for M&S merchandise.
Weaknesses: Declining sales: It has been found in a research that the sale of some of the outlets was
falling by the end of 2019. This happened due to the deficiency in supply chain system as
well as the non-availability of their items. It was also happened during the season of
Christmas of 2017, the business could not be able to meet its required demand for
clothing and food products. It had created a negative influence on the brand image and
reputation. Perception of public: A perception has been created among common citizen that the
respective organisation does not facilitate clothes to the adolescent and young customers.
Most of the people also think that this organisation targets only old people. Therefore, all
such perceptions and opinions regarding brand costs a lot to the company. If the brand
has majority of elder customers that doesn't mean that it only provides its product to the
older people only (Bogdan and Lungescu, 2018). High cost due to the manual processes: It is found that Marks and Spencer organisation
have faith in the manual processes in their business. It takes a lot of cost and time as well.
Many old businesses and enterprises have already adopted the modern technology to
mechanise multiple processes. If the organisation adopts the latest technology, then it
would be the brand to become efficient and to save cost and time.
Opportunities:

 Global expansion: As the Marks and Spencer organisation is a global brand and the
business has opened up their outlets in many countries such as Indonesia, Russia, Poland
Brazil, India and so on. Now, it is found as an opportunity for the Marks and Spencer that
it can expand their business into other market. It signifies that the organisation has to play
an active role by improving more and more branches in evolving countries. Online store: Marks and Spencer company also has an online store. But, in comparison
with other world's leading online stores such as EBay, Amazon or Flipkart then that
selected organisation is far behind in that competition. Even though the organisation is
old, highly experienced and has a strong brand image (Bolland, 2020). Online retailing is
the future of shopping as consumers are getting hectic in their lives and they neglect
congested and public places. Therefore, the organisation should focus on the growth of
online store. Also, it is seen that the company has recently introduced that the brand is
thinking to bring its home and clothing products online. Market segmentation: Market segmentation is used as a process of categorising the
customer market into multiple segments based on their similar characteristics. As it is
found that the policy of the respective organisation, then it follows the regular principle
of opening up mega stores almost every place. If the organisation follows the customer
segmentation policy of indulging their goods and services based on their expectations,
needs and preferences, then it would be a great opportunity for the business such as it
would be lower cost as small outlets consist low rental coast while maximizing profit
consequently.
Threats:
 High competition: In UK and across the world, the retail industry is getting highly
competitive. Some of the key players in retailing industry are Tesco, Amazon, Gap,
Sports Direct, Sainsbury's, Debenhams, Next, Morrison’s and many more (Carter and
Stickney, 2019). If the enterprise does not change it plan or strategy, then it would fade
away from the target market gradually because its opponents are very strong.

VRIO analysis:
The VRIO analysis of Marks and Spencer is a wider range analysis providing the
business with an opportunity to acquire a feasible competitive benefit versus its competitors in
the clothing and food market. Valuable: It signifies the resources utilised by the Marks and Spencer Group which are
valuable to the organisation or not. These resources involves personnels, finance,
operations management and marketing experts (Fontrodona, Ricart and Berrone, 2018).
Hence, these are some of the essential resources of the firm that creates competitive
benefits. Rare: The valuable resources made utilization of by M&S are even expensive and rare. If
rarity in resources are ordinarily found that it would be simple for other leading players
and new entrants in the retail market to effortlessly move in competitors. Imitation: The process of replica is costly for the key competition for the chosen
organisation. It can be finished in two ways that are product duplication which is made
and created by M&S and announcing of the replacement of the items with switching cost.
This boots the fear of disruption to the present structure of the industry. Organisation: It deals with the compatibility of the business to organise in the market
creating effective and efficient utilization of its valuable resources which are risky to
imitate. The management development is highly relied on the business execution strategy
as well as team. Hence, this improves the power of the firm by time based upon the
decisions taken by the organisation for the progression of its tactical capitals.
Resources Valuable Rare Imitate Organisation Competitive
benefits
Network
flexibility of
supply chain
Yes Yes Can be
imitated by
other
organisation as
well.
Completely
consumed
Unused
competitive
benefits
Market
position
Yes Yes Challenging Yes Sustainable
competitive

benefits
Leadership
team
Yes Yes No Yes Having strong
competitive
benefits
Financial
resources
Yes No Compatible
with all
rivalries
The fiscal
position is
sustainable
Temporary
competitive
benefits
Porter’s five forces:
Porter's five forces analysis includes the business competitive forces and the factors
influencing the industry. This framework focuses on measuring the business position based on
the forces such as threat of substitutes, new entrants, bargaining power of suppliers, bargaining
power of buyers and competitive rivalry (Hitt, Ireland and Hoskisson, 2019). This framework
helps in analysing the company’s current position in the market based on their several internal
and external factors such as customers, suppliers, competitors, future scope, financial strengths
and alternative solutions. The framework has been applied below:
 Threats of new entrants: New entrants in retail industry brings innovation, new solutions
of doing things while putting pressure on the company through reducing cost, lower
pricing strategy and providing new value propositions to the consumers. Therefore, it is
necessary for the Marks and Spencer Group to manage all the challenges while
developing effective barriers to protect their position in the competitive marketplace. In
addition to Marks and Spencer, the threat of new entrants is found as low because it takes
high capital investments to establish a retail chain store (Ignatiev and et.al., 2018). Also

the retail market is mature and the new entrants would require to give something new
which is challenging to do in apparel and food industry. Threat of substitute products or services: When a new product of services fulfils the
requirements and demands of customers in diverse solutions, then profitability of industry
suffers. This threat delivers high influence on the companies if other companies offers a
value proposition that is exclusively dissimilar from current products and services of the
industry. In context to M&S, the threat of substitute is recognised as low force. Although,
the food and apparel of the respective organisation can be substituted by products from
other competitors. The most direct competition is Waitrose while Peter Jones and John
Lewis provide high end apparel. ASDA and Tesco have also launched low price products
and services. In such context, the threat of substitute is high for the company. Bargaining power of buyers: Customers are often a demanding a lot. They desire to
purchase the best products and services available at lower prices in the market. This
creates a pressure on the respective organisation’s profitability in the future. The smaller
but powerful customer base is of enterprise the higher the bargaining power of the
customer the higher their skill to look for maximum offers or discount. The threat is high
for the Marks and Spencer (Kosch and Szarucki, 2021). There are plenty of substitutes in
the market and the switching cost are relatively low. In 2008, the UK economy is
probably to slow down which forced retail organisations to reduce their prices while
focusing more on customer needs. Also, the income of citizen become more uncertain,
they will purchase around more. Bargain power of suppliers: In retail industry, almost all the organisations purchase raw
materials from different suppliers. Suppliers or vendors in dominant position can lower
down the profit margin of company in the market. Suppliers who are in powerful
consumer service sector exploit their bargaining power to extract higher prices from the
organisation. The overall influence of supplier bargaining power can lower down the
overall profitability of the business. In respect of Marks and Spencer, as the company has
massive turnover and vendors want their products and services on the retailers shelves to
grasp a big customer base (Kwon and et.al., 2022). Moreover, the chosen organisation is
also not as reliant on other outlets as it mainly merchandises own branded products that it

progressively purchases raw material and not finished products which is favourable for
profitability of business.
 Rivalries: If the competition among current players in the retail industry is stiff then it
will drive reduced prices and overall profitability of the industry. Marks and Spencer
organisation runs their business in a highly competitive market and such competition
does take roll on the business overall profitability. This competitive force is high for the
company as it faces competition from both cloth retailers and supermarkets such as
Tesco, ASDA, TopShop and many more.
1b. Reflection on the running of the simulated business.
This part of the report will consider the reflection based on managing a group into a
simulated business. It involves the discussion based upon the strategy and arrangement,
evaluation of the business operations communication held with other group members. Main
theories and models of group work are examined.
I have got an opportunity to work in a group. In order to start the project or task, I
attempted communication to team members readily to plan the roles and activities while
discussing the availability (Leiblein, Reuer and Zenger, 2018). I have communicated with my
team members via telephones or social media for less formal communication. Also, I have
conducted team meetings to discuss over the task. I have experienced in both ways positive and
negative. It was beneficial for me to take steps or initiate to contact or interact with members as
this is necessary to build effective communication in the business and to understand the task
effectively as well. Outlining the initial contact, it was great for me as group members shared
their individual details of contact, whatsoever, in the upcoming time, the individual preferences
of sharing and communicating their personal details should be considered. In the initial meeting
was planned and organised, the task and present ourselves (Makadok, Burton and Barney, 2018).
As per the concept of the Beckhard of team effectiveness, it has covered with four main areas
when starting a team which require to be addressed. All such areas were taken into consideration
at the time of team formation, the main objectives were set for the simulation which included
utilising the managing director's aims for profits and sales as KPI of our handling of the business.
For the decision-making process, a council model was used in which we would carried out equal
roles, work pressure and voting on choices. At the time of team organisation, we also discussed

the process and procedures such as what mediums or channels have been used to contact while
working, working practices and working hours.
Moreover, at the time of meeting, me and other team members got the chance of
developing interpersonal skills, learning values from other's experiences and knowledge
associated to the education and industry. Thus, it also supports in determining the skill sets of
team members. Producing main areas as defined by Beckhard, drive us having an effective action
plan for the simulation, along with the healthier bond. Organising group meetings were
advantageous for me as it helped me of assuring the success as we all had same objectives. I
sense that the framework is a multi-purpose guide of what is important to form a successful
team, whatsoever, the model is very certain to the formation of team while giving restricted
usage in further steps of group work.
The group assessed the business financials and consider it was in sound place with order
increasing. Hence, a low risk plan was agreed for the business growth and development. Also,
the deficiency were found in the social media marketing which could be utilised to attract the
young and teen groups which had been outlined as main demographics of customers. I think that
the concept was suitable to meet the aims and tweaks to marketing could result in improved
orders (Meral, 2019). Decisions were taken regarding the sales strategy which had not been
effective and delivers unfavourable outcome as well. Further, as the desired aims not attained,
this caused conflict and disputes so we had to rewind the plan so that profit margin and sales can
be increased in future. I also felt dizzy due to my cautious quality, although I comprehended the
team decision. It is a groovy example of how the council model resolve the issues and conflicts.
The team development followed Tuckerman's approach. As we moved through the task,
we had gone through multiple phases such as forming, storming, norming, performing and
mourning. Decisions became simple and conflicts and issues were also resolved. At the time of
performing phase, we had confidence due to the increased business sales and profits. We built a
trust among team members (Siegfried, 2021). Also, I sense confidence within myself while
moving to the comfort zone with my team members to share things and felt zero reluctance
giving my ideas. One of the downsides of this approach is that it assumes that problems are less
likely to arise the more a team develops. As we shifted through this concept, we found that it
resolves issues, nonetheless, they happened more as the confidence builds and we all
communicate diverse opinions. I believe that issue was useful to the group as it helps in

evaluating the business decisions. I think that the team could be even more effective as all
members do not respond actively(Wehde, 2018). I was also afraid how this would influence the
team and work pressure. Nonetheless, being a team of less members would be quite useful as it
helps in clear decisions and votes. It may have effect in fewer conflicts. In future, I will try to
make contacts with team members in the initial stage so that better participation can be
demonstrated.
CONCLUSION
From the above report, it has been concluded that managing business in a strategic way
demonstrates how a business plan, monitor, assess and use their available resources and
capabilities in order to meet its desired aims and goals. It helps in analysing the business needs
and expectations. This report was discussed with several models and frameworks in order to
analyse its competitive benefits and position in the market. SWOT model was applied on the
business in order know its strengths and weaknesses, together with threats and opportunities rise
in the external environment. For the purpose of analysing the industry capabilities, porter's five
forces was used in this report which covers five main forces such as threat of new entrants,
bargaining power of buyer, bargaining power of suppliers, threat of substitutes and competitors.

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