Preview

How Organisational Structure and Strategic Planning Can Help Businesses to Achieve Their Purpose and Aims

Good Essays
Open Document
Open Document
848 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
How Organisational Structure and Strategic Planning Can Help Businesses to Achieve Their Purpose and Aims
Strategic planning is important for all businesses because this is when they set there aims and will discuss how they can achieve that aim. These aims have to be realistic and the owners will discuss this with their workers. Some aims might be hard to get but executives will want their workers to push hard so that it can be achieved. Marks and Spencer’s aim was to be the best supermarket in Britain but the recession had affected them really bad giving them losses of over 100 million pounds. Currently they are making profits of 50 million pounds but it is nowhere near what they made a few years ago.
Strategic planning will show what direction the business is going to achieve its aims. The planning may last for up to 4 years and is drawn up by high ranking staff. Refinements will be made as months go by because changes can happen within the business. Marks will have a strategic plan that may last for two years. They are struggling at the moment and their rivals are doing much better with healthy profits for the year. Marks had a bad start to the year with losses and were even more trouble with the snow. The strategic plan for marks will not work straight away it may take time, but it may help them in the long term.
Marc Bolland who is the new chief executive has set aims that may not be achieved by marks. He has said that the planning will last between 2013 and 2014. He said that there online business is going to be updated and that they want to beat John Lewis at online buying’s. John Lewis’s online selling’s have risen by 10% and I don’t see marks and Spencer’s beating them. John Lewis had a good start to the year and currently they are doing better which is bringing them profit. John Lewis currently has made nearly 800 million pounds in profit which is much more than marks and Spencer’s.
Marks have changed things within their business and those changes have been made so quickly and were made at a bad time. These changes can affect Marks even more and
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Better Essays

    Mgt 521 Strategic Plan
    • 1030 Words
    • 5 Pages

    Mgt 521 Strategic Plan

    In the economy today every business has a need for a strategic plan. Strategic plans are most vital for small businesses to have a strategic plan because they comprise the majority of local businesses and are more likely not to survive. No matter if the business is small or large it is important to keep this plan updated and evaluated to the businesses current standings. Typically a plan should focus on the following two to three years when it is being created.…

    • 1030 Words
    • 5 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Subject: D1 Evaluate the Impact of Changes in the Economic Environment on a Selected Business.
    • 785 Words
    • 4 Pages

    Subject: D1 Evaluate the Impact of Changes in the Economic Environment on a Selected Business.

    In 2012 the government decided to raise the minimum wage and change the vat rules this had a massive effect on marks and spencer’s as a company. The government raised the minimum wage to £6.18 an hour, This had a bad effect on marks and spencer because all the people at marks and spencer that were on the smaller minimum wage £6.08 (off which It was estimated that nearly half of their work force were on) this lead to an increase on cost that was estimated to be over £60 million pound, this cost would have impacted on marks and Spencer’s because this firstly their cost would have gone up and marks and spencer would have had to make the decision to raise their prices to cover the cost however if they were to raise the prices this would have meant that it would be even harder for customers to afford their food and this would have then meant that these customers may have found another way firstly their cost would have gone up and marks and spencer would have had to make the decision to raise their prices to cover the cost however if they were to raise the prices this would have meant that it would be even harder for customers to afford their food and this would have then meant that these customers may have found another supermarket they may be cheaper to shop at, Marks and spencer could of also absorbed the cost however if they were to do this this would affect their profit margin and their mean that the customer would make a smaller profit and it is likely that they share price will then become smaller due to the week earnings.…

    • 785 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Mgc1 Study Guide 2
    • 1051 Words
    • 5 Pages

    Mgc1 Study Guide 2

    Strategic planning is designed to leverage the strengths of a firm while minimizing the effects of its weaknesses. It is difficult to know the potential advantage a firm may have unless external analysis is done well. For example, a company may have a talented marketing department or an efficient production system. However, the organization cannot determine whether these internal characteristics are sources of competitive advantage until it knows something about how well the competitors stack up in these areas.…

    • 1051 Words
    • 5 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Pestle Report on Marks and Spencer
    • 1511 Words
    • 5 Pages

    Pestle Report on Marks and Spencer

    There are plenty of observers who will claim that Marks & Spencer is dying, and I 'm inclined to agree. I 'm not suggesting that the retail monolith is going bust, or is about to be bought by Wal-Mart and rolled into one brand with Asda. It 's just that the old M&S is dying and a new Marks & Spencer is forming. The latest blow came when Marks & Spencer announced it would sever its cosy, 30-year-old supply agreement with its fourth largest supplier, William Baird. Marks & Spencer first started to buy direct from manufacturers in the Twenties, a rather radical initiative in those days, when wholesalers were taken for granted. Since then, Marks & Spencer has been a mainstay for the UK retail industry. Marks & Spencer’s has increasingly moved overseas in recent years, to take advantage of the higher margins offered.…

    • 1511 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Str 581 Ethics Research Paper
    • 851 Words
    • 4 Pages

    Str 581 Ethics Research Paper

    Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic plans, which can help to move the business forward. “Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people”…

    • 851 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    M1 Unit 4 Business Communication
    • 1554 Words
    • 7 Pages

    M1 Unit 4 Business Communication

    Strategic planning is an organisations process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and customers. Various business analysis…

    • 1554 Words
    • 7 Pages
    Good Essays
    Read More
  • Good Essays

    Business Level 3 Unit 1 P2
    • 1026 Words
    • 5 Pages

    Business Level 3 Unit 1 P2

    The management of Marks & Spencer’s is one of key stakeholders out of all of them as they will be making sure that all of the below stakeholders are in order and working well. They have a direct impact on what goes on in the business, so it important…

    • 1026 Words
    • 5 Pages
    Good Essays
    Read More
  • Powerful Essays

    marks and spencers
    • 3230 Words
    • 13 Pages

    marks and spencers

    Marks and spencers was founded in Leeds, west Yorkshire in 1884, but the current headquarters for the retail industry is located in London. The founders of the worldwide industry were sir Michael marks and Thomas spencer with the current ceo of the industry being Marc bolland and the chairman being Robert swanell. As of 2010 the industry has 1010 stores worldwide with the revenue being £9.934.3 billion as of 2012 and the operating income being £746.5 million as of 2012, Marks and spencers have made a massive profit on everything as of 2012 being £489.6 million and also as of 2012 having a total of 81,223 employees this makes marks and spencers one of the most used stores in the world with their main competitors being Asda and Sainsbury’s…

    • 3230 Words
    • 13 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Understand the organisational purposes of businesses
    • 321 Words
    • 2 Pages

    Understand the organisational purposes of businesses

    In this assignment I am going to identify the purposes of different types of organisations, describe the extent to which an organisation meets the objectives of different stakeholders and explain the responsibilities of an organisation and strategies employed to meet them. I am also going to give examples based on my own personal experience.…

    • 321 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    MGT wk 1
    • 510 Words
    • 3 Pages

    MGT wk 1

    In society there are hundreds of companies competing for your business on a day to day basis. As a management team it is crucial to understand strategic planning, and know how it can help you grow as a company. In corporate terms, strategic planning is making a plan as a company in order to achieve long-term goals and objectives. Upper management must think strategically first, then apply that thought to a process. The strategic management process is best implemented when everyone within the business understands the strategy. There are five stages for the management team to understand they are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.…

    • 510 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Case Two- Preserve Toothbrushes
    • 688 Words
    • 3 Pages

    Case Two- Preserve Toothbrushes

    Strategic planning is an important aspect for any business or corporation. Without it, an organization has no way to achieve a stated goal. They have no way to march towards their vision. In the case of Eric Hudson, an entrepreneur with a vision, he successfully created a business with a goal in mind and implemented a strategic plan to make it happen.…

    • 688 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Should You Buy Morrisons Case Study
    • 500 Words
    • 2 Pages

    Should You Buy Morrisons Case Study

    It prompted many to believe that a reshuffle in the “Big Four” was on the horizon; something that Morrisons could take advantage of. Sadly this wouldn’t be the case, as Morrisons failed to up the ante and came across as a confused retailer to many investors. They can’t seem to decide what their target market is, which has left them in a rut. At arguably the most pivotal time in the company’s history they also made the mistake of not embracing the world of online shopping. Posting disappointing online shopping revenues, which have been attributed to shoddy advertising and promotion by the chain.…

    • 500 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Three Contributions of Chinese Immigrants
    • 656 Words
    • 3 Pages

    Three Contributions of Chinese Immigrants

    It is also grown in North American, but the Asian variety is thought to be more…

    • 656 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    M1
    • 1341 Words
    • 4 Pages

    M1

    Marks and spencer is a major British retailer that specify in the selling of clothing, home products and luxury food. Marks and spencer is a public limited company because they sell shares to the public. The main aim of marks and spencer is to maximize profit and become the world’s most sustainable major retailer by 2015. Some objectives that they have set are to:…

    • 1341 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Good Essays

    Strategic Planning Process
    • 506 Words
    • 3 Pages

    Strategic Planning Process

    Strategic planning has a lot of advantages to it but, at the same time, there are issues/barriers and potential challenges that an organization may face. The tool to the effectiveness of any strategic plan is to find any barrier/challenge and develop a plan to eradicate the barriers. “A strategic issue is a fundamental policy question or challenge affecting an organization's mandates, mission and values, product or service level and mix, clients or users, cost, financing, organization, or management” (Cooper, 2012. p. 185). Some of the challenges include Lack of accountability, Lack of commitment, communication barriers, poor leadership, change, power and influence, lack of understanding…

    • 506 Words
    • 3 Pages
    Good Essays
    Read More

Related Topics