Critically Evaluate Change at Marks & Spencer
Abstract
Marks and Spencer (M&S) p.l.c. is one of the largest retailers in the United Kingdom with a selling space of 12.5 million square feet, was established in 1884 as ‘Penny bazaar’. M&S sells clothing, food, footwear, gifts and home furnishings in its 760 stores around the world. The company’s wholly own and franchise stores operates in Europe, Hong Kong, Far East, Australia, Middle East, the Bahamas and Bermuda making a total of 34 countries.
This report critically evaluates the changes at M&S from the mid 1980s to current day. Initially it assesses and outlines the macro and micro environmental factors. Under macro environment the substantial competitive growth is explained using internet technology and globalisation. Under micro environment Porter’s (1985) five-force analytical tools are investigated, the changing customer needs are verified, suppliers and retailers strategic partnership to face the competitor in the market are studied. Then the key organisational and strategic changes are evaluated from period to period. The cost cut, supplier’s relationship, marketing strategies and acquisition are analysed.
Subsequently the internal and the external factors influencing the decline of M&S’s are specified. Mainly the internal organizational conflicts because of Autocracy, small vision and bias because of patriarchy, negligence of competitor, discontent of customers because of poor service and product are subjected in the decline. However the emphasize on efficient marketing campaigns, customer focus, revamping of shops, customer satisfaction and fresh ideas on product are lighted for turnover. The future strategy is advised based upon internal and external factors where the stability of management team, redesigning business Process and Structure comes under internal factors and market Segmentation, Globalization and Localization comes under external factors. Finally after studying the environmental factors, to continue with the sustainable business
Marks and Spencer (M&S) p.l.c. is one of the largest retailers in the United Kingdom with a selling space of 12.5 million square feet, was established in 1884 as ‘Penny bazaar’. M&S sells clothing, food, footwear, gifts and home furnishings in its 760 stores around the world. The company’s wholly own and franchise stores operates in Europe, Hong Kong, Far East, Australia, Middle East, the Bahamas and Bermuda making a total of 34 countries.
This report critically evaluates the changes at M&S from the mid 1980s to current day. Initially it assesses and outlines the macro and micro environmental factors. Under macro environment the substantial competitive growth is explained using internet technology and globalisation. Under micro environment Porter’s (1985) five-force analytical tools are investigated, the changing customer needs are verified, suppliers and retailers strategic partnership to face the competitor in the market are studied. Then the key organisational and strategic changes are evaluated from period to period. The cost cut, supplier’s relationship, marketing strategies and acquisition are analysed.
Subsequently the internal and the external factors influencing the decline of M&S’s are specified. Mainly the internal organizational conflicts because of Autocracy, small vision and bias because of patriarchy, negligence of competitor, discontent of customers because of poor service and product are subjected in the decline. However the emphasize on efficient marketing campaigns, customer focus, revamping of shops, customer satisfaction and fresh ideas on product are lighted for turnover. The future strategy is advised based upon internal and external factors where the stability of management team, redesigning business Process and Structure comes under internal factors and market Segmentation, Globalization and Localization comes under external factors. Finally after studying the environmental factors, to continue with the sustainable business
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