Strategic Management - Marks and Spencer
17 Pages5274 Words158 Views
Added on 2020-10-22
Strategic Management - Marks and Spencer
Added on 2020-10-22
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Strategic Management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Strategic direction that followed by the company in past five years..........................................1TASK 2............................................................................................................................................2Model to review the external environment of the company.......................................................2Critical discussion of the company's competitive advantages among its direct competitors......3Probable industry scenarios facing company within its existing market domain.......................4TASK 3............................................................................................................................................4Extent to which company facing strategic drift..........................................................................4Mission and vision statement are aligned to demand of the marketplace...................................5Company's strategic capabilities.................................................................................................5Business Canvass Model to portray and describe rational with core logic ................................7TASK 4............................................................................................................................................8Possible strategies that company could follow to defend its core business................................8TASK 5..........................................................................................................................................11Resource implications of recommendations that company need to address.............................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONStrategic management consist with long term benefits in the organisation that includeplanning and drives to focus on internal environment. In this consideration, several peopleencourages and setting challenges that helps to accomplish personal and professional objectives.Furthermore, it also focuses to ensure operations effectively and efficiently develop in successfulmanner (Ocasio, Laamanen and Vaara, 2018). Main aim of every company to implement thisstrategy is that goals and milestones develop with plan to make strategic decisions. Present study based on Marks and Spencer which is retail sector enterprise that deals indifferent nations as multinational retailer. It is public limited company which served severaloperations to generate more income in the business. In order to focus on the present study, it comprises review of external environment of thecompany which include PESTLE model. Furthermore, it covers critical discussion on company'scompetitive advantages among several competitors. Moreover, it considered mission and visionstatement that are aligned with demand of the marketplace. In addition to this, strategiesfollowed by the enterprise for defend its core business. At last, resource implications withrecommendations has been successfully developed to address business issues. TASK 1Strategic direction that followed by the company in past five yearsMarks and Spencer successfully lead to accomplish their goals and objectives withmultinational retail products and services. In this consideration, from 1884 the companyoperating with more than 1382 stores in all over the world. In the selected business, the planningschool strategy direction has been followed from past five years which considered actionableitems/objectives which elaborate on the following aspects (Ambrosini, Jenkins and Mowbray,2015). Strategies considered as a result of control, formal planning and breaking down in certainsteps that support by techniques. Responsibility of entire process successfully develop withleader. Strategy needs to be made in more explicit in term of objectives, budget, plans, etc. Objective setting stage: In this stage, Marks and Spencer determined objective of thecompany which is increasing profitability in all the stores in different areas of the world.1
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