Strategic Management - Strategy Evaluation for Marks & Spencer

Strategic
Management.

Table of Contents
Introduction......................................................................................................................................3
Main body........................................................................................................................................3
Critical assessment processes used by the organisation to determine their strategy...................3
An evaluation of the critical models and tools used by organisation to determine their
strategy........................................................................................................................................4
An application of these tools to a real organisation....................................................................7
Critically appraise the importance of change management based on the complexity of the
transformation process, its costs, risks and sustainability...........................................................8
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

Introduction
Strategic management helps an organisation in order to create plans for the tasks of the
company so that the company will be able to achieve the goals and objectives. Strategies plays
an important role in the management of an organisation. It is important for the company to make
sure that they are working according to the planning done by the management in order to avoid
any contingency (Emeagwali and Aljuhamni., 2019.). It is important for the company to make
strategy regarding tasks so that the employees of the company can understand the workings
which are expected from them. It makes the work easier as well as more efficient and effective.
In case of Marks & Spencer, the company is a British multinational retailers which are dealing in
clothing, home appliances and food products sector. The company is headquartered in London,
England and was incorporated in the year 1884. the company was founded by Michael Marks &
Thomas Spencer. The worldwide presence of the company makes the brand one of the most
trusted and reliable brand in the world. In this report, an understanding about strategic
management as well as about the processes and procedures will be provided. An understanding
and importance of change management as well as transformation process will also be provided.
Main body
Critical assessment processes used by the organisation to determine their strategy.
Strategy helps the company in providing steps which can be taken by the company in
order to complete the tasks effectively and efficiently (Rees and Smith eds., 2021. ). It is
important for the company to make planning for the tasks ahead of time in order to avoid any
contingency and in order to make sure that the company and employees have a roadmap
following which they will be able to complete the task.
 Purpose: The purpose of the company is the motive because of which the company is
incorporated. It tells the stakeholders about the long term planning of the company
(Bhattacharyya., 2020.). If the company is not deciding any purpose for the organisation
they will not be able to survive in the long run as they will not be able to determine their
goals and objectives. In case of Marks & Spencer, the main purpose of the company is to
enhance lives , every day. The company wants to provide best in class product and

services to their customers who are visiting their stores and want to help customers in
choosing best suitable product for them.
 Mission: The mission statement of the company helps in describing the current position
of the company and will also explain the major goals and objectives of the company
(O'brien., 2019.). It is short term in nature and help the organisation in outlining the
primary goals of the company. In case of Marks and Spencer, the mission statement of
the company states that the company wants to make and provide inspirational quality
goods to their customers. They want to create a customer base on the basis of the high
quality of their products.
 Vision: It is a statement which helps the company in describing the future expected state
of the company which means what the organisation wants to achieve in the future with
the help of completing their goals and objectives (Andersen, Torp and Linder., 2019.). It
helps the company in communicating the purpose of the company to the stakeholders of
the company. In case of Marks and Spencer, the company wants to create a benchmark in
the market with the help of its products and services. They want to create a quality
benchmark which is impossible for the competitors to achieve.
 Objectives: Objectives helps the company in converting the vision of the company into a
measurable target and in a clear cut action plan. It helps the employees in getting
knowledge about what is expected from them. It is a guiding light for the management
and employees of the company towards the path way through which they will be able to
achieve the goals of the company. In case of Marks and Spencer, the key objective of the
company is employee orientation. The company attracts, hire, motivate and assist
employees with high calibre. They want to improve the performance of the employees
and want to have leadership in the clothing and food segment in the market.
An evaluation of the critical models and tools used by organisation to determine their
strategy.
VRIO framework is a strategic tool which helps the company in assessing and evaluating
the resources of the company along with the strengths of the company which can provide them
competitor advantage in the market.
Valuable Rare