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Strategic Management at Marks & Spencer

   

Added on  2021-02-20

16 Pages4786 Words87 Views
Business DevelopmentLeadership Management
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STRATEGICMANAGEMENT
Strategic Management at Marks & Spencer_1

Table of ContentsINTRODUCTION...........................................................................................................................1External Analysis ............................................................................................................................1Current market and competitor analysis ....................................................................................1External Analysis........................................................................................................................2..........................................................................................................................................................4Internal Analysis .............................................................................................................................4What Marks and Spencer do ......................................................................................................4What does M&S do really well ..................................................................................................4What M&S do that other cannot do............................................................................................6Strategic solutions :..........................................................................................................................7Porters generic strategies :.........................................................................................................7Strategic lock-in .........................................................................................................................9Evaluation of the organisation’s strategy.........................................................................................9The Ansoff Matrix and ...............................................................................................................9BCG Matrix on Marks and Spencer..........................................................................................10CONCUSSION..............................................................................................................................11REFERENCES..............................................................................................................................13
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INTRODUCTIONStrategic management refers to the continuous process which includes planning,observing as well as analysing and assessing all the essential things required for anadministration to meet the desired objectives. To make the organization successful the companyneed to make decisions strategically as per the new technologies, customer wants. Marks andSpencer (M&S) is an international retailer company which was established in 1884 and thefounder of the company was Michael Marks Thomas Spencer. The company having itsheadquarters situated in London, United Kingdom. The company sells the specialised productslike clothing, home as well as food products of high quality. Marks and Spencer is listed underthe London stock exchange. The company started to trade branded goods like Kellogg's cornflakes in November 2018. Marks and Spencer is having 959 stores across UK at the same time itincludes 615 stores that sells only food products.The report will include the analysis regarding the key issues in the external environment and inwhat way it will affect the company. By applying PESTLE the company can identify thepolitical, economical, social, technological, legal as well as environmental issues. It will alsoinclude the internal analysis of the company by applying the SWOT analysis and also will findthe strategic solutions to maintain the company's position in the competitive market by applyingporters generic strategies. Further the study will include the critical evaluation regarding thecurrent strategy the company is using as well as the strategies that can be used to implement andto gain the competitive advantage.External Analysis Current market and competitor analysis Marks and Spencer is among the leadership multinational which is based on UnitedKingdom. The company is operating their business in United Kingdom for a long time, the firststore of M&S was opened in 1884. As of 2019 there are 1043 stores of the company in UK andmore that 444 store all around the world. The company employees more than 80 thousandemployees in which 71 percentage of employees are females.BASESMARKS AND SPENCERTESCORevenue 10.4 billion Pounds 6.3 billion Pounds Employees80787450,000Locations 146368001
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Founded 18841919 HeadquartersLondonHertfordshireTesco is the biggest competitor for Marks and Spencer as Tesco in dealing tin the samesector as Marks and Spencer. Tesco is has more stores that Marks and Spencer and they alsohave more employees that Marks and Spencer . External AnalysisPestle analysis : Pestle analysis is tool to analyses the external factors affecting Marks andSpencer.Political Factor : It plays an important role in identifying the factors which canaffect the profitability of Marks and Spencer in a particular country or internally.It considers the stability of government, relation of government from othercountries and many more. The government of United Kingdom is very stable so itand doesn't change to many laws and rules helps the company to stick on oneorganisation structure(Aguinis, Edwards and Bradley, 2017).Economical Factor : The external factors like Foreign exchange rate, Incomelevel. GDP and many more comes under economic factors. The economy of UKis well stable so it affects the company in positive manager.Social Factor : The shared Beliefs and the attitude of the population play animportant role in growth of Marks and Spencer. The company is often called asnon trendy store by the customers, this a negative factor for M&S in socialfactors. Social factor is also called as Socio-culture factors.Technological Factor : As Marks and Spencer are among the leading retailer inUK, the company always have to keep their technology updated. In the era ofinnovation and technology it is difficult of the companies to Stay updated,changing technology is short period also increase the Cost price of the product,Legal factor : In this the company need to take care of all the legal acts andPolicies like Customer act, Heath and Safety act, employees act and many more.Marks and Spencer had faced many legal problem for obligations of act like heathand safety act. This decrease the goodwill and the market-share of the company.2
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