• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Business Report: Marks and Spencer. Objectives and External and Internal Factors.

Extracts from this document...


Business Report: Marks and Spencer Generally looking at the retail industry, it could be said to be within a very dynamic and a fast changing sector. In terms of transactions and turnover; it represents a large sector in the economy and so as a result it is quite a sophisticated industry which is very competitive. In this report, a critical analysis of Marks and Spencer, a company who is amongst the large retail industry will be given. Business Overview A Russian born Polish refugee opened a stall at Leeds Kirkgate market in1884, his name was Michael Marks. And it was on that day which could be said as the day Marks and Spencer was born. Marks and Spencer is now a very large and dominant company and can be classified as a public limited company, it sits within the top 6 UK retailers. It is a century old retail sector organization, (they are currently celebrating their 125th anniversary) that has seen tremendous growth in the retail business across the globe through innovative methods of business and marketing. It is a business that provides goods and services e.g. ...read more.


Business critics argue that the firm must grow in order to survive; failure to grow might result in a loss of competitiveness. Marks and Spencer own 885 stores in more than 40 territories around the world, over 600 domestic and 285 international. If Marks and Spencer are able to grow, they could dominate their expanding markets, and probably take it into using it to enjoy some monopoly power and raise its price. If they do so successfully the benefits of economies of scale can be used to full advantage. Regarding the strategic objectives, sales have been falling especially with the arrival of store such as Primark. Former chairman and chief executive Luc Vandevelde announced in 2001, "Its objectives will not surprise you. We wanted to return Marks & Spencer to its former position as the standard against which others are measured. We want M&S to be famous once again for its quality, value, service and innovation, drawing on strengths which still exist but which may have been overlooked. We want to inspire trust in our customers, and we want to reward you, our shareholders, for loyally standing by us." ...read more.


Conclusion and Recommendations The downturn for Marks and Spencer was that they did not respond quickly enough to the changing taste and preferences of their consumers, and the have acknowledged this. For instance the clothing sector of the company especially the womanswear, they suffered from a lack of originality and did not reflect the modern taste for a more casual look. Same goes for the food section, although they remained in their market position, sales were less significant as result competitors are quickly catching up. Future recommendations, will be to expand target audience e.g. innovate to young adults as well as women, this will spread risk and provide a safety net if women clothing fail again. One other thing is to as mentioned earlier to expand on the technological and furniture side of the business, this also spreads risks, but will gain market share and allow Marks and Spencer to become an even more powerful leader. Not only that in doing that brand image might be restored not only in the clothing department but also on the technological and furniture department proving an even stronger brand image and securing that brand loyalty. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Management Studies section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Management Studies essays

  1. Innovation For Business Success. It is possible to be innovative in both large ...

    And with this capability, such companies become highly attractive places to work for prospective employees and they can pick and indeed cherry-pick from the market, the best staff available in all segments of the labour market. This attractiveness in the labour market can be also seen in globally successful innovator companies such as Google, Microsoft, Apple, Dell, Samsung and 3M.

  2. Strategic-Marketing-Management. This report is a study of principles of Strategic marketing management by considering ...

    They hold the highest bargaining power. The companies are devising there sales policies as per the buyers marketing trends and the social factors affecting the buyers. Threat of Substitute Products or Services Clothing is necessity. There's no substitute for clothing .It can only gets advanced in near future with the use of highly quality textiles and the machines.

  1. Strategic Business Plan of Nokia. This strategic report examines thoroughly Nokias current position ...

    Part one shows the units comprising Nokia Corporation separated by the nature / technology of their operations and their geographical scope. Value chain analysis will help identify Nokia's primary and supportive activities that create value and build up the performance of the company.

  2. Evaluating the different sources of business finance.

    (Pg-130), " A 'loan' is a financial assets resulting from the delivery of cash or other assets by a lender to a borrower in return for an obligation to repay on a specified date or dates, or a demand, usually with interests."

  1. The main aim of this study is to determine and learn the competitive strategies ...

    the effectiveness of employees and to lower the wastes and finally to utilize the first in first out principle well. As far as focus strategy is concerned, the company needs to pull back unprofitable goods from the shop floor and focus more on profit generating products and do a promotion campaign for them through effective channels and in time.

  2. Business enviroment assignment. The purpose of this report is to provide readers with clearly ...

    Evaluate the extent to which Unilever achieves the objectives of three stakeholders. 13 III. The responsibility of Unilever and strategies employed to meet responsibilities of stakeholders. 15 INTRODUCTION 2 18 I. How economic systems attempt to allocate and make effective use of resources available within the country.

  1. International Business Of Starbucks

    Also, the company's productivity can be increased with machines that do the job quickly thus allowing them to serve more customers in a day and making sure that they don't miss out on customers who aren't willing to wait too long as their speciality coffee is made.

  2. Analysis of Operation of Toyota

    For component or unit plants, the products are the components such as engines and transmission. Using the annual plan volumes as a forecast, each production facility will consider the variables that impact capacity. A key constraint is how much the operations rate varies by assembly plant, the following are some

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work