Strategic Management: Theories, Models, and Application in Marks and Spencer

Strategic Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................4
Overview of the literature relevant to strategic management theories and models.....................4
Application of theories/models of the chosen company..............................................................5
Critical analysis of the success of strategic management theories/models of the chosen
company.....................................................................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................15

INTRODUCTION
Strategic management is all the necessities an organization needs to meet its goals and
objectives Strategies management is the planning, monitoring, analysing and assessment. Any
change in the surrounding of the business will require marks and Spencer’s to assess their
strategies for achieving success. Marks and Spencer’s is a British multinational retailer public
limited company with its headquarters in London England. It was found in 1884 by Michael
marks and Thomas Spenser which deals in different product lines like clothing, home and food
products. The company is also listed in the London stock exchange.
Marks and Spenser currently operates around 959 outlets across UK among which 615
stores only deals in food products. By doing its television advertising Marks and Spencer also
delivers online food. Marks and Spenser became the first British retailer to have a pre taxation
profit over one billion. Currently Marks and Spencer’s operating the number of location is 1463
(2019).
Key people of the company are Archie Norman Chairman of Marks and Spencer and
Steve Rowe chief executive of Marks and Spencer’s. Currently Marks and Spencer’s dealing in
different brands are as follows ; per Una, autograph limited, Rosie, blue harbour, M&S
collection, M&S energy. Number of employees currently working in Marks and Spencers are
around 80,000. Marks and Spencer has adopted different management strategic approaches for
the better working environment of the company which includes of better health care of the
employees and many beneficial services for the employs, which will result in the excellent
working of the company (Knight, Daymond, and Paroutis, 2020).
Marks and Spencer as a company tries to fully satisfy the needs and wants of the
customers with using high quality of material and high quality services for the satisfaction of
customer needs and wants. Marks and Spencer’s has organized a social awareness program in
which it is improving its responsibilities towards the roles and responsibilities towards the
environment. The company has better managed its marketing skills with its product line to give
advertise possible for the best promotions of the products Marks and Spencer deals in.
The company has adopted efficient ways for the promotion purpose now, with the help of
internet Marks and Spencer has been doing successful online marketing on different platforms
and with different strategies like joint venture. Marks and Spencer promote its brand value

among the customers for the better results. It has also adopted different online strategies where
the company's account is being handled on different social media platforms and give reply on
customers feedbacks, comments weather it is positive or negative, the company's strategy is to
answer it very positively to satisfy the customer and improve its goodwill and market value in
the market. Marks and Spencer has organized its functioning in such a way that it is easy to
operate the company with more productivity (Kools and George 2020).
The most effectively working department of Marks and Spencer is its food and clothing
line which is famous all over the world the quality of its clothing material is among the best
known manufacturers the brand is widely using its product to create a brand awareness among its
present and future customers. Marks and Spencer is consequently working for the betterment of
its products and service. Present report will lay emphasis on Overview of the literature relevant
to strategic management theories and models it will also cover Application of the
theories/models of the chosen company and the Critical analysis of the success of strategic
management theories/models of the chosen company.
MAIN BODY
Overview of the literature relevant to strategic management theories and models
As per the view of Dvorský and et.al. (2020) Swot analysis, it provides the information
related to the company to identify its strength weakness opportunities and threats for the better
understanding. The term swot analysis refers to the planning, building, strategic of the
organization to meet its goals.
As per the view of Ketchen and Craighead, (2020) porters five analysis, the theory
includes of five points which are as follows it is a method for analysing the competition in
business market. Potential of new entrants into the industry, power of suppliers, power of
customers and threats of substitutes.
As per the opinion Wang and et.al (2020) porter’s generic strategies, basically the theory
is used for gaining the competitive adventure in this the organization focuses on cost and their
diversification strategies this model assist company in growing and increasing profit and
revenue.
As per the opinion of Barbosa, Castañeda-Ayarzaand Ferreira, (2020) value chain analysis,
a firm operating in a specific field or industry containing a set of activities taking in use of the