Value of Purpose, Vision, Mission and Objectives in Strategic Direction

STRATEGIC MANAGEMENT

Contents
INTRODUCTION...............................................................................................................................3
Evaluate the value of clear Purpose, Vision, Mission and Objectives in setting the strategic
direction of organisations..................................................................................................................4
VRIO Framework..............................................................................................................................5
Pestle analysis....................................................................................................................................6
Porter’s five forces............................................................................................................................7
Organizational strategy of Marks & Spencer.....................................................................................9
CONCLUSION....................................................................................................................................9
REFERENCES..................................................................................................................................10

INTRODUCTION
Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities
an organization needs to meet its goals and objectives. Changes in business environments will require
organizations to constantly assess their strategies for success. Marks and Spencer Group plc is a major
British multinational retailer with headquarters in London, England, that specialises in selling
clothing, home products and food products, mostly of its own label. This report highlights issues such
as the value of clear Purpose, Vision, Mission and Objectives in setting the strategic direction of
organisation. VRIO Framework, pestle analysis, porter five force analysis and strategy used by Marks
and Spencer in order to survive in market.
Evaluate the value of clear Purpose, Vision, Mission and Objectives in setting the strategic
direction of organisations
Marks & Spencer has set their mission so that they can serve and define their purpose to their
key audience. They have set their mission to inspire people for their quality and make it available to
everyone. For instance Marks & Spencer is working on products whose quality will be above than
every one of their competitors and they are implementing measures in their culture through which
they can keep the availability of channels open and smooth (Gamble, Thompson Jr and Peteraf, 2019).
Vision-
Marks & Spencer has set their vision in a unique manner on the basis of which they can
define in such a way that they derive their strategy of working as they set their style of decision
making on the basis of predicting the future. Their vision is to be appear standard against what others
call their products a benchmark. Management of company works strategically in order to achieve
goals as per this vision.
Purpose-
Marks & Spencer have kept their purpose always on the basis of values they have set for their
culture. It involves assuring quality products, valuable services, bringing innovation and dealing with
trust in the market. Management of Marks & Spencer believes that with the help of their different
range of products they can prove their purpose.
Objectives-
In order to excel in the market Marks & Spencer has divided their objectives in different
departments such as
Employee orientation-