Strategic Management in M&S

Strategic Management

Table of Contents
INTRODUCTION.........................................................................................................................3
TASK..............................................................................................................................................3
Company overview......................................................................................................................3
Methods of development used by M&S......................................................................................3
Leadership style use at M&S.......................................................................................................5
Change management models.......................................................................................................6
Future sustainability tactics of M&S...........................................................................................6
CONCLUSION..............................................................................................................................6
RECOMMENDATION.................................................................................................................6
REFERENCES..............................................................................................................................8

INTRODUCTION
Strategic management is about determination and description of tactics, approaches and
techniques that managers while working in a company could carry in order to achieve set aims &
objectives as well as to make organizational performance even better. The current assignment
will be based on M&S, which falls under list of leading retailers in the United Kingdom. The fey
fact about chosen company is that it has leading at third position in retail industry. This study
along with background information about organization, will also define strategic tools use to
analyze approaches of development utilized by firm. It will explain evaluation of leadership style
and usage of change management frameworks that help examine strategic implementation in
brand. Furthermore, this report will justify further sustainable strategy of selected firm and
possible suggestions base on overall analysis.
TASK
Company overview
M&S in retail sector is considered as third retailing brand. Its grocery market shares in
UK from 2017 to 2020 had increased as it up to 3.1% higher, which is quite beneficial for
company. The mission of firm is to make inspirational quality available to others; this statement
reflect what brand venture is and what important purpose is there. This retail brand while
operating its venture always conducting its activities and practices according to set objective and
aim that allow sustaining in sector for longer period of time. The main objective of firm is to
build its sustainable venture through profitable progress, reliable success and to make assure that
its management has always act accountably at the time of meeting its responsibility to wider
stakeholders. The vision of this fashionable brand is to cater excellent products against which
rivals may measure from consumer’s experience. In additional to above context, firm another
aim is to care for environment and society. By selling different category of goods such as food,
home appliances and clothing, M&S has gained benefits in term of increasing its sales and
profits margin. Its group profit in 2020 was £10.2 billion with adjusted revenue before tax of
£403.1 million (BUSINESS WIDE, 2021).

Methods of development used by M&S
Each company while operating its venture within specific sector has used several
approaches and methods in context of business development, which is an important act that
enhance level of productivity. M&S has done the same; it has used real method of development
which could show by using Ansoff’s matrix as strategic model that mention below.
Ansoff Matrix-
Market penetration-
M&S while managing business functions and operations in retail sector could use market
penetration as strategic approach which enable its venture to grow even better and develop in
systematic manner (Torres, D’Alessio and Stolzenberg, 2021). When company select this
method they need to concentrate on maximizing sales of product portfolio in regards to existing
customer base. With this approach, it could gain benefits in form of retaining current target
buyers who are able to purchase its goods exchange of money which in return allow Marks &
Spencer to enjoy success in retail market.
Product development-
The best and most effective method that M&S could use is this one because it makes
company able to gain attention of new consumers relate to international level (Yang and Hsu,
2019). According to current approach, firm need to manufacture new products with new features
that help to retain existing customers and attract new one, who could contribute in development
of its venture by purchasing new products. Product development tactic permit M&S and its
management to bring an innovative item that added value in consumer perspectives.
Market development-
It is one of the most effective and useful growth tactics that bring different benefits for
M&S. When company use this method for business development or progress it drives attention
of management towards targeting new consumers and serving existing items to them which they
have never provide (Santoso, 2020). It allows firm to expand its venture across new international
markets, which in return increase profitability and productivity as well as sales level even better.
It helps to enlarge M&S business size and scope.
Diversification-
It is one of the best business strategies that many companies in order to develop and grow
its venture use. It enables M&S to enter into new market with new product or goods lines, which