Global Business Strategy: A Strategic Audit and Analysis of Marks & Spencer

Global business
strategy

Contents
Executive summary:........................................................................................................................3
INTRODUCTION...........................................................................................................................5
TASK...............................................................................................................................................5
Strategic audit..............................................................................................................................5
Justification of strategic actions...................................................................................................6
Reflection...................................................................................................................................11
Recommendations......................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

Executive summary:
Global business strategy is considered as the planning and developing business strategic actions
that taken by organisation to perform efficiently in global market place. It is important for
business to analyse the different situation than develop effective strategies that lead overall
operations in right direction and facilitates to attain determined goals and objectives. Strategic
management is defined as the management of business resources in order to accomplish business
goals on time with efficiency. It includes establishing business objectives, analyse competitive
environment, evaluate strategies as well as ensure that management is rolled out defined
strategies across the organisation. In this report Marks & Spencer is taken into consideration.
Last 3 years organisation faces various issues and problems due to the economic conditions and
pandemic that affected overall business performance and efficiency. To deal with these issues
and maintaining business performance it is important to implement effective strategic actions in
business operations that lead business towards growth and development. Strategic actions must
be perspective, future-oriented and decisions are taken on the bases of evidence that lead
business operations and employee efforts in right direction (Anokhina, Maksimov, and Seredina,,
2019). It is important for the Marks & Spencer to implement principles of strategic management
that helps business to execute strategies in appropriate manner. Organisation need to implement
various strategic management tools and methods that help it to develop effective strategies to
gain competitive advantages. Along with that Marks & Spencer need to analyse organisational
conditions than develop effective business strategy that enable business to attain determined
goals and objectives on time.
As there are various business strategies such as cost leadership strategy, differentiation
strategies, focused strategy that help business to attain higher market share and customers. In
current competitive business environment, it is important for the business to analyse the
environmental conditions and scan it properly before taking strategic decisions that differentiate
organisation from other competitors. Organisational need to access internal and external business
environment that enable business to future goals, targets as well help to develop strategies to
attain these targets in efficient way.