Strategy Evaluation for Marks & Spencer

BSc (Hons) Business Management Top up
BMP6002
Strategic Management
Strategy Evaluation
Contents
Introduction p
0

A critical evaluation of the value of clear purpose, vision,
mission and objectives in setting the strategic direction of
organizations using examples from selected organization
p
Assess the competitive advantage of the selected
company, using the VRIO framework p
Using PESTLE framework analysing the external
environment of the selected business p
Application of the Porter’s Five Forces Model for the
selected organization p
A review of the selected organisation’s strategy p
Conclusion p
References p
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Introduction
Organizational strategy is somewhat meant by evaluation of right policies and
framework that would help the business to accomplish success and stability in the
market environment. It is important that businesses formulate right organizational
strategies that best suits the business environment. An organizational strategy might
differ to businesses, business environment and the geographical area where the
business is operating. Before formulation of the organizational strategies, a business
evaluates different macro and micro environmental factors to set effective business
strategies. The chosen business organisation for this report is Marks & Spencer
which is a global retailer founded in the year 1884 by Michael Marks and Thomas
Spencer. The company is headquartered in London, United Kingdom and founded in
Leeds, United Kingdom. The revenue of the business as per the year 2020 is
recorded as 1,018.19 crores GBP. In the context of Marks & Spencer this report
delivers the purpose, vision, mission and objectives of the organisation, analyzing
the competitive advantage in the strategies taken by the organisation, macro
environment analysis, Porter five forces model for analyzing the industry
Attractiveness and competitiveness, Lastly the report delivers the organizational
strategies of the business (Ambrosini, Jenkins and Mowbray eds., 2015).
A critical evaluation of the value of clear purpose, vision,
mission and objectives in setting the strategic direction of
organizations using examples from selected organisation
Marks & Spencer Mission statement defines that what is the business all
about. Mission statement delivers the organizational objectives and goals and
includes information of the business values. Marks & Spencer defines its chief
business revenue maker as clothing and food sector. The financial goal of the
business is to render value to its shareholders by increase returns, sales and market
share. The value and belief of the business defines to deliver value to the customer
so that the customer see Marks & Spencer as ideal place for special food and
clothing produced and delivered by covering the quality standards (Barca, 2017).
Thus,
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The vision of the business is to be the standard against which others are measured.
The vision statement of the business highlights to use differentiated strategy and add
freshness, quality and innovation.
The mission of the business is to deliver uniform quality of output which is
accessible to all. Marks & Spencer defines the corporate social responsibility in the
mission statement and consider value stakeholders needs. Marks & Spencer
highlights that the business follows strong corporate social responsibility and it is
looking to ensures corporate social responsibility at every level of the business
functioning (Bettis and et.al., 2015).
The value of the business is quality, value, service, narration and reliability.
Key objectives:
Employee orientation: Marks & Spencer considers employee as the integral part of
the business foundation and success. The association believes that high
expectations and productive staff contributes more towards organizational
objectives. The association focuses for delivering professional development
opportunities for the employees in order to retain and motivate high caliber working
staff in order to accomplish efficiencies and improve business performance.
Organizational Focus: Marks & Spencer focuses on developing leadership in
clothing and specialty food in the external business environment. In order to
accomplish the organizational objectives, the business focuses for translating their
skills and authority into superiority quality, value and appeal (Bondarenko and et.al.,
2017).
Sales objectives: The business focuses to improve its return on sales per foot as
operational objectives. Marks and Spencer uses regressive marketing approaches
for promoting its brand in both online and brick and mortar stores. Apart from that the
association focusses on establishing the products diversification strategies to
enhance its sales performances.
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