Strategic Management in Marks and Spencer's (M & S) : Essay

Added on - 21 Jul 2020

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STRATEGICMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1Main Body..............................................................................................................................1Part 2................................................................................................................................................5Part 3................................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONStrategic management in an organisation plays a vital andcrucial role that affect the overall operations in an organisation. This will helpin effective planning of various business operations and carrying out themwith efficiency (Hill, Jones and Schilling, 2014). For the report, Marks andSpencer's (M & S) as the organisation of context. It is the UK based retailfirm. The essay will cover strengths and weaknesses on the internal andexternal level of company and its position and area of improvement. Thestrategy for the company will be developed with different measures andtools that will help in organisation's growth and development along with thebetter management of business operations. Also, a reflection on strategyprocess model will be taken into consideration with holistic strategy views oforganisation (Barney, 2014).Main BodyPART AMarks and Spencer is a British multinational retail firm that is locatedin London. It is specialised in clothing, home products and luxury products.In 2008, company started selling other branded products to cater thewider customer’s needs. The company is one of the largest retail firm in UKas well as on global level. This acts as the major competitive advantage andstrength for firm (Moutinho and Vargas-Sanchez, 2018). The majoradvantages of organisation are its quality, value for money product, strongmarket presence and high customer base. For better strategic managementof cited firm, the assessment of internal and external factors is taken intoeffective consideration which will help in better handling of differentoperations of M&S. The Internal and external factors that affect strategicdevelopment of company.The internal and external factors that impact the strategicdevelopment of fir is as follows:Internal Factors:Internal factors will involve the following elements:1
Internal assessmentStrengthsWeaknessesHigh brand recognition is themajor strength for M & S. Thebrand is pretty much popularamong people.It provides a wide variety ofproducts and services to itscustomers. It ranges from fooditems, groceries and clothing toluxurious items and products ofother brands (Ginter, Duncanand Swayne, 2018).Large number of stores andoutlets make it able to reachthe maximum number ofcustomers and clients to gain abetter profitability andproductivity.M & S also uses products ofother luxurious brands to caterneeds and demands of highclass customers.The major weakness for the M& S is that is usually known asthe Non trendy store and hasan outdated fashion productsthat repel the young andteenage customers to purchaseproducts and services from M &S.The major backdrop of M & S isthat still is uses the manualsystem of keeping the recordsand for other workings. Thefocus of the cited firm for thenew technologies iscomparatively low, whichimpacts the businessoperations of the cited firm to agreater extent.ThreatsOpportunitiesThe increase in competitionsand entry of many competitorslike Morrison, Sainsbury's etc.in the market has impacted theoperations of the cited firm to agreater extent.Also, the outdated fashionThe internalisation and betteruse of technologies to carry outits functionalities will help thefirm to come up with betterideas to develop a goodproduct or services for itscustomers.2
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