Strategic Planning for Marks and Spencer

Strategic Planning

Table of Contents
INTRODUCTION ..........................................................................................................................3
Task 1...............................................................................................................................................4
a) Critically analyse and identify the organisation’s strategic aims and objectives including the
approach adopted to strategic planning. .....................................................................................4
b)Determine alternative strategic options available and the implications for the organization..5
c) Critically evaluate the impact of stakeholder expectations on a strategic plan and the
planning horizon. .......................................................................................................................6
Task 2 ..............................................................................................................................................7
a) Critically evaluate the strategic options available to the organisation over the existing
planning horizon and factoring in wider context market and competitor impacts......................7
b) Assess and determine the priorities and feasibility of alternative options over the existing
planning horizon. .......................................................................................................................8
c) Carry out a risk assessment of the preferred strategy and alternatives...................................8
d) Identify, justify and articulate the selected strategies within the plan and address any
potential problems.......................................................................................................................9
e) Produce a strategic plan and its components to achieve the selected strategic direction. ......9
Task 3 ............................................................................................................................................11
a) Critically review the organisational and market factors to be considered in the
implementation of the strategic plan ........................................................................................11
b) Determine and apply a range of tools and concepts to monitor and review the strategic plan
...................................................................................................................................................12
c) Determine the impact of the strategic plan on the organisation’s direction and achievement
of the organisation’s objectives.................................................................................................15

CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
INTRODUCTION
Strategic planning is defined as an organisational process that defines its strategy,
direction or undertaking decisions for the allocation of company resources to execute this
strategy. This procedure is an organisational management activity through which focus,
priorities, resources are effectively set with an aim to strength operations while assuring that
employees and other stakeholders are operating their roles and responsibilities towards entity
common goal (Albrechts, 2015). With the assistance of this systematic long-term planning
activity organisation can underline or fix its priorities towards effective accomplishment of
goals.
Present report has been made on Marks and Spencer, which is operating its organisational
operations in retailing sector as a leading organisation. With having specialises in clothing, food
products, home products this company ensures satisfaction of consumers. In this report is divided
in three tasks which is inclusive of questions related to organisation's aims, objectives along with
the impact of stakeholders expectations on the planning horizon and strategic plan. Along with
this report also include available strategic options over the existing planning horizon in wider
context market and competitor impacts. In addition to this, risk assessment, strategic plan and
different tools and concepts to effectively monitoring strategic plan is also being discussed in this
report.

Task 1
a) Critically analyse and identify the organisation’s strategic aims and objectives including the
approach adopted to strategic planning.
Marks and Spencer operate its business functioning as the largest retailer with having
stores across 40 countries, company is having speciality is offering home furnishings, clothing
and food. Entity is offering high quality products and services to consumers according to their
needs and demands (Moutinho and Vargas-Sanchez, 2018). In addition to this, it has been
evaluated that company is operating their business services as the lowest-cost retailers
organisation. Further it has been evaluated that in order to assure more competitive
advancements and higher profitability in the aggressive retailing segment management of Marks
and Spencer have developed some certain form of aims and objectives which is being defined
below along with the approach that has been adopted to strategic planning:
Organisational Aim:
It is one of the most essential component of an organisation that effectively guide them
towards moving in a right direct to effectively fulfil business aim in a well defined manner. This
is also being defined as an end goal that organisation desired to fulfil in time effective manner. In
context with Marks and Spencer it has been determined that company is aiming towards having
more competency in retail industrial segment as compared to other competitors. For this M&S
devised an aim in which they planned to provide products with latest trends with standard design
in reasonable or affordable price range. Along with this company also aim towards offering their
products with high quality with efficient reliability.
Organisational Objectives
It is defined as as the short-term and medium term goals that a company seeks to fulfil in
order to reach towards its strategic goals. In term with Marks and Spencer it has been determined