Strategic Management in Marks and Spencer

Strategic management

Table of Contents
Introduction..................................................................................................................................3
M&S - Background Information:................................................................................................3
Methods of Development:...........................................................................................................3
Leadership Style:.........................................................................................................................3
Change Management:..................................................................................................................3
Sustainability:..............................................................................................................................3
Conclusion and Future Recommendations..................................................................................3
REFERENCES................................................................................................................................4

Introduction
Strategic management is plan which includes six-stages so organisation implemented in
order to grab market opportunities (Bawa, Jantan and Ali, 2020). Marks and spencer is a retail
company which is British based and headquarters of this company are situated in London. This is
a well reputed company and it is also listed in London Stock Exchange. This company was
founded by 2 friends naming Michael Marks and Thomas Spencer. This company was founded
in the year 1884. There are more than 1000 stores of this brand across UK and most of them sell
food products, clothing, luxurious items, beverages, etcetera. This company is having a good
reputation and brand image within market. Main mission of firm is to built core value of quality
innovation and trust in market. Vision of company is to be standard against which others are
measured. There are several people of other companies who want to know the strategy used by
this company in order to attain successful stop main reason behind success of Marks and Spencer
is that they mainly focus upon actual and present needs and demands of customers. This
companies involved in research and development that impresses customers a lot.
Background of company:
It is analysed that Marks and Spencer is one of the renowned retailer of fashion industry
within UK. It was founded by Michael Marks and Thomas spencer in 1884 (Chowdhury, 2020).
It has headquarters in London and deals in variety of products such as clothing, household and
foods products. In addition, it is the leading company of fashion industry that is currently
operating business in nearly 30 countries globally. Company has nearly 1500 outlets in different
countries which make it enable to meet with requirements of customers in an efficient manner.
Apart from this, organization also has franchise at global level that helps it to serve international
audience. Here, Marks and Spencer has nearly 65 franchise in Asia and 60 in Europe which
maker it enable to meet market demand that is crucial to earn potential profit margin.
Here, it owns nearly 450 stores only in UK that make company enable to lead fashion
industry of country in an efficient manner. Beside this, organization is also earning potential
amount of profit. As per one of the report, it generated profit of 67.2 million in 2020. Profit of
company is increasing with every passing year that is a symbol of growth and success. It is
monitored that entity has nearly 78000 employees across the globe who works for its growth.
Therefore, with above information, it can be said that M & S is a leading organization of fashion
industry that is able to meet with requirements of buyers in significant manner.