TABLE OF CONTENT INTRODUCTION…………………………………………………………………..2 TASK 1 1.1…………………………………………………………………………………….3 1.2…………………………………………………………………………………….4 1.3…………………………………………………………………………………….6 TASK 2 2.1…………………………………………………………………………………….7 2.

2………………………………………………………………………………….....8 2.3……………………………………………………………………………………10 TASK 3 3.1……………………………………………………………………………………10 3.2……………………………………………………………………………………11 TASK 4 4.1……………………………………………………………………………………13 4.2……………………………………………………………………………………15 4.3……………………………………………………………………………………16 REFERENCES…………………………………………………………………….18

meeting needs of customers. is one of the UK's foremost retailers of clothing. Also. Marks & Spencer. Marks & Spencer's recent marketing activities will be critically analysed in order to ascertain what improvements have been made. and it's main values are quality. gaining advantage over competitors. Business Strategy is concerned more with how a business competes successfully in a particular market. Marks & Spencer is a perfect example of a company that had a . homeware and financial services. service. (www. The purpose of this assignment is to construct a SWOT analysis. founded in 1884 by Michael Marks and Thomas Spencer. weaknesses.uk). exploiting or creating new opportunities etc. it's main mission is 'to make aspirational quality accessible to all'. innovation and trust. This assignment will attempt to determine why Marks & Spencer nearly collapsed and what they have achieved in terms of success and failure as part of their recovery programme. Marks & Spencer operate in 30 countries worldwide. which will attempt to review the company's position and identify the marketing priorities. opportunities and threats that were highlighted in the internal audit. It's main vision is 'to be the standard against which all others are measured'. highlighting each of the strengths. boasting a weekly customer base of 10 million in over 300 UK stores.marksandspencer.co. I would be writing my assignment on Marks and Spencer as my chosen company and a brief introduction of the company is given below. missions and visions. It has specific values.BUSINESS STRATEGY INTRODUCTION (318 words) Business Strategy is a term used in business planning that implies a careful selection and application of resources to obtain a competitive advantage in anticipation of future events or trends. foods. Conclusions will be drawn from the SWOT analysis. and has a group turnover in excess of lb8 billion. It concerns strategic decisions about choice of products.

mission and objectives in a competitive environment is „Strategic Intent'. core competencies The leveraging of a firm's internal resources.To make aspirational quality accessible to all and Values . TASK 1  1. service.1 Explain the contexts and terminology.successful strategy but failed to adapt to the changing environment and have therefore suffered from 'strategic wear-out. In a way. strategic intent tries to establish the parameters that shape the values. Mission : defines the business .To be the standard against which others are measured Mission . When established effectively. innovation and trust. capabilities and core competencies to accomplish the firm's vision. the needs of covering their products and services. the market in which it is developed and the public image of the company. motives and actions of people throughout their organization. The mission of the company is the answer of the question : why does the organization exists? Marks and Spencer‟s mission statement is broken into 3 parts which include: Vision . It is about winning competition battles and gaining leadership position by putting organizational resources to best use. goals. objectives. The intent can take the form of a broad vision or mission statement or a more focused route covering specific objectives and goals.missions. visions. a strategic intent can cause people to turn out excellent performance.Quality value. thus. . Strategic intent is said to exist when all employees and levels of a firm are committed to the pursuit of a specific but significant performance target.

Increase sales . or that processes which have worked well in the past will no longer fit with future plans.Profit maximisation .Growth . . to control and to encourage the organization as a whole to reach the desirable state of the organization.Offering high quality service .Market leadership . It may be that decision-making in some areas will be handed to others. The vision of the company is the response to the question of: What do we want our organization to be? The main objectives of marks and Spencer‟s are as follows: .Reward shareholders  1. the intention of the vision is to guide.Vision : defines and describes the future situation that a company wishes to have.2 Review the issues involved in strategic planning Effective strategic planning involves challenging the way that business has been done up to this point.

In many cases. the best option is for the owner to give up a share of the business in return for equity finance .but this can be emotionally difficult to do. it is the owner of the business who decides the strategic plan. it may be in the best interests of the business for the owner to focus on a smaller number of responsibilities. However.It can be tempting for owners or managers to overlook alternatives that are uncomfortable for them personally. or to hand over control to someone with greater experience. but to disregard your options on these grounds can seriously compromise the growth of your business. . The more a business grows. In the final analysis. Examples of the kind of issues that tend to get overlooked by growing businesses include: The future role of the owner . the more sophisticated it needs to be about meeting its financing needs.most small businesses are located close to where the owner lives. an honest assessment of the options allows for any decisions made to be as informed as possible. The location of the business . Growing a business is not something done 'at all costs'. Ownership structure .growing businesses in particular should ensure that they get this right. But as a business grows it may make sense to relocate the business to be closer to greater numbers of customers or skilled employees.for example.

it appears reasonable to think that Marks and . Marks and Spencer will be able to create brand loyalty for their offerings. For a giant retailer. Breadth of product offerings.com/media/Diagrams/GenericStrategies. and thus. In pursuing a cost leadership strategy Marks and Spencer focuses on the creation of internal efficiencies that will help them withstand external pressures. thus having a significant competitive advantage. Therefore. to obtain a sustainable competitive advantage they should follow either one of three generic strategies.3 Explain the different planning techniques: Porter’s generic strategy: (http://www. price inelasticity on the part of buyers. 1. The first strategy of cost leadership is one in which Marks and Spencer can strive to have the lowest costs in the industry and offer its products and services to a broad market at the lowest prices.ACCESSED ON 24-08-2-11) Generic Strategies are characterised by an individual retailer's response to the industry structure. focused market. If Marks and Spencer uses another strategy of differentiation. special features.mindtools. such as Marks and Spencer. This strategy will be based on the Marks and Spencer's ability to control their operating costs so well that they are able to price their products competitively and be able to generate high profit margins. The last strategy of focus can be either a cost leadership or differentiation strategy aimed toward a narrow. technology. developed by Porter. or customer service are popular approaches to differentiation.jpg . than it has to try to offer services and products with unique features that customers value.

which they have launched will include. as people do not have the spare cash to spend on luxury items such as clothing and food luxuries.Spencer will have frequent interactions with the governmental/regulatory and supplier sectors of the environment. this was .000 staff. thus pursuing a strategy of focus or niche (Porter. Marks and Spencer pursues a strategy of cost leadership or differentiation either in a specific market or with specific products. for example he considered selling food online as part of a plan to become a multi-channel retailer. The fair-trade policy. 1980). If companies do not abide by these regulations they will be fined or even in some cases be forced to close down. recycled packaging and animal welfare protection.1 Organizational audit for Marks and Spencer: PESTEL ANALYSIS  Political Factors The government sets regulations for companies to abide by such as Health & Safety British Standards such as. In 2006 as stated by the Guardian.  Sociological factors In the last few year‟s society has changed. In accordance to this framework.  Economical Factors Currently the economic outlook is very uncertain and this is more than likely to affect retail sales. cut salt and fat in M&S foods. Marks & Spencer have been hit by this and have recently closed a number of stores and have had to make job cuts of 2% of their 70. TASK 2  2. while both overall cost leadership and differentiation strategies are aimed at the broad market. planning for hazard identification. Marks & Spencer would be the first major retailer to go down the Fairtrade route on both clothing and food. In other words. Chief Executive of Marks & Spencer Stuart Rose wanted to stretch the company brand. Marks and Spencer may also choose to confine their product to specific market areas or may choose to offer a smaller line of products to the broad market. risk assessment and risk control.

tax changes to the business & products changes amongst many other things. in magazines and newspapers and on the radio. All companies. Major brand marketers often spend huge amounts on advertising to create brand awareness and to build preference and loyalty.  Environmental Factors With the current environmental climate as it stands. Marks &Spencer has today announced a 100-point five-year plan to re-engineer itself to become a carbon neutral. Marks & Spencer have established their own Green Policy which they call “Plan A” The chief executive of Marks & Spencer states that it is called this because there is no “Plan B”. which they are.  Legal Factors Legislations are always changing.2 Environmental audit for Marks and Spencer: SWOT analysis of Marks and Spencer . sustainable-sourcing. and also on going development. For Marks & Spencer to continuously communicate to consumers they need to be heavily into advertising.health-promoting business. Companies must manage their brands carefully. First the brands position must be continuously communicated to consumers. For re-training Marks & Spencer invite business changes to the business. industries and organizations are being pressured to change their ways when it comes to the materials they use and how they manufacture. ethical-trading. Asda and Marks & Spencer appeal to different markets in terms of social class and other demographics. Marks & Spencer invite objectives/methods that need to be changed and new training. issues are being promoted daily on the television.obviously to keep up with the competitive market such as Asda. this has a major influence on the way they respond to current issues  Technological Factors Technology is vital in the retail market. and with issues regarding Health & Safety they also ensure that their legal protection is updated. Marks and Spencer carry out re-training & update every year. they keep up to date with new laws or legislations. zero-waste-to-landfill.  2.

George Davies Product diversification – home and furniture Turnaround in sales and growth Weaknesses  Resignation of three key members of staff: George Davies. insurance. Andrea White and Melanie Davies – head of merchandising    Previous poor performance. Autograph and Classic collection to stores  Use younger more contemporary models to attract younger generation.Strengths        Sales of clothes have stabilised. and food sales have increased New chief executive with fresh ideas and sales led growth Good advertising Used iconic models to attract core target group. Threats   Previously tarnished reputation and image Competitor product ranges which directly compete with M & S food such as Tesco finest      Decline of the high street May lose youth market General increase in internet shopping Social tastes Branding .   Internet food shopping but opportunities may be limited Other services – eg banking. savings etc. Focusing on older generation may lose younger market. Opportunities  Rebuild the company‟s image with continued advertising such as the successful M & S food adverts    Focus on core market UK has an ageing population Introducing wider ranges such as Per Una. finance director. seven straight quarters of falling sales More expensive than other high street stores – limited market.

regulators. the general public. employees. 2. lobby groups. Finally the organization needs to understand the salience each stakeholder has. shareholders. urgency and legitimacy they have over the business and it helps the organization to identify the priority it‟s management team need to follow to get the best outcomes. The next step is to draw a map which shows the relationships between the organization business and the stakeholders and the relationships they have with each other. contractors. family of customers. This is the power.3 Significance of stakeholder analysis: Understanding and managing stakeholders is a key part of strategic analysis. the relationship with stakeholders couldn't be more important. neighbours. M&S should not invest too many resources to improve the selling skills of its sales force. suppliers. The organization should start by making a list. TASK 3  3. associations and local government. As the organization plans it‟s growth strategy. . The employees of M&S are loyal to their company and they have developed excellent product knowledge and direct selling skills. people). Once the organization has this detailed analysis of it‟s stakeholders. The actual list will depend on the business. To get a deeper understanding try drawing a power matrix plotting the power the stakeholder has over setting the rules for the business against the operational power (resources. family of employees. funding. holiday. it needs to think about whom it‟s stakeholders are and if they have changed. sick pay) compared to other retailers. M&S provides its employees very good package (pay. There are a number of useful approaches which will help the organization analyse it‟s stakeholders. it is in a much better place to prioritise it‟s efforts. Yet it is often overlooked in strategy development. Then see if it can identify what their demands are.1 Evaluate possible alternative strategies: Usually communication strategies are based on striking a balance between push and pull strategies. As we arguably come out of the current recession. Stakeholders include customers.

Work force: M&S should allocate the communication mix labour force in favour of branding and advertising efforts in order to pull the customers to the shops. value and service they have come to expect. 4.Measurement: the effectiveness of the campaign should be measured by the increase in sales.The selling strategy should be complementary to the branding strategy. Integration of communication approach: The communication strategy in M&S should communicate the value of M&S products to customers.Time scale: the time scale of every campaign is one season. this will leave the chance to M&S to learn from its previous errors and improve the quality of its branding and advertising. 2. M&S should spend more on designing fashionable products and branding because branding fashionable products is the key to the market. Recovery plan for Clothing The Company has plans to regain the confidence of its customers in the quality and fit of its clothing. It will sharpen pricing by rebalancing the price architecture.Budget: the mix of tools that the communication approach will use has to fit the budget of M&S and be able to maximise the revenues resulting from this spending. the communication approach should consider the following factors in order to be fully integrated with the organization. this measurement is very important in evaluating the effectiveness of the communication strategy. 1. sale assistants should push customers to buy.3 Future Strategy for Marks and Spencer: a) Total focus on UK retail The Company will only own brand products and brands exclusive to M&S so it can guarantee customers the quality. 3. M&S should develop a formula in order to measure the increase of sale resulting from branding and advertising.  3. This value has to be essential to customers. the selling strategy has the push effect on the customers. . extending the range of entry-price merchandise and communicating this clearly to customers.

Marks & Spencer intends to divest or close non-core businesses and assets. innovation and convenience. More intensive use of space Selling space will be reallocated to higher growth product areas to maximise returns per square foot. Both of these areas offer promising opportunities for development and will be expanded. subject to consultation with its employees. some stores in big cities will be opened 24 hours per day. Being closer to the customer In order to be more customer oriented. albeit relatively small. Beauty. cost cutting measures and closure of loss-making businesses In order to focus all its efforts on the recovery of the UK business. The Home business is growing strongly.Expansion in growing product areas such as Food. with home furnishings and gifts the fastest growing product areas. Home and Beauty M&S Foods continues to perform well and has earned customers' trust for providing quality. . is also growing rapidly. The business is a key platform for future growth and the Company is considering opportunities to expand its reach through new locations and selling channels. Accelerate Store Renewal Programme: M&S will accelerate the rollout of the successful elements of its new concept format under a plan to refurbish more stores faster and at lower cost. b) Value realisation.

1 Strategy implementation in two different organizations: The speech and extracts from Marks & Spencer Press Releases.under a plan to refurbish more stores faster and at lower cost  More Intensive Use of Space  Improve the Supply Chain . 2) The Strategic Review and Selling the Plan.satisfy aspirations and traditional demands  Build on Success in Foods. a dedicated call centre and fulfillment centre . Recovery Plan – Mark & Spencer 1) Putting together the right team – the values that the founder instilled into this Company. value. service and innovation.quality. provide a valuable insight into the nature of strategic planning within large organizations. Plan: 1.TASK 4  4.to close its loss-making catalogue business.direct relationships with our suppliers  Financial Services –Developing M&S store card Plan: 2 .Sell or Close loss-making businesses  No longer afford to support non-core activities  Stop subsidizing loss-making businesses  To divest or close non-core businesses and assets  10 stores in Hong Kong will be sold to become a franchise  Direct .fast-growing sectors as ready meals and prepared foods  Accelerate Store Renewal Programmed. drawing on strengths which still exist to inspire trust in our customers. presented below. and the role of the Chairman and Chief Executive in this process.Focus the entire organization on our UK business  100% Own Brand – sell only M&S brand  Improved Segmentation of Clothing.

expanding and diversifying Tesco's product mix  To implement internal development when new products are developed.products and services to a broad market at the lowest prices  Ability to control their operating costs and price their products competitively.  Feasibility .expected return from the strategy.  Acceptability.strategy addresses the circumstances in which the company is operating.  Method of development . the level of risk and the likely reaction of stakeholders.  New markets demographically high opportunity markets  International alliances with the local retailers in Asian markets.  The nature and the extent of diversification .  Extensive local knowledge and operating expertise of the partner.Change the Capital Structure  To reduce the dilution from the relatively low returns from property investment Tesco's Strategy Strategy of cost leadership lowest costs .Plan: 3 .whether Tesco has the resources and competence to deliver the strategy.exploit current resources and competence  Entering into joint ventures or partnerships.increase in consumer spending and trend towards retailing. Product Development –Diversification.  Sustainability . to gain larger economy of scale and larger market presence.  Able to generate high profit margins.significant competitive advantage Market Development Strategy –Joint developments and Strategic alliance  Entering new markets like China and Japan  Key growth driver for revenues and expansion strategy  Asian markets .

 Quality. service and innovation. leading to additional spending. Both together reach more. Both together achieve more Capital – allocation should be efficient and effective . Stores-the changes will extend to around two-thirds of their space. drawing on strengths which still exist to inspire trust in our customers Leaders – Leadership and management synergy  Leaders focus on the ends.  Leaders provide vision.recruit top talent to strengthen the team.  The values that the founder instilled into this Company. so most of their customers will notice the difference.  Satisfy aspirations and traditional demands.2Resource requirement to implement new strategy Product .  Consolidate and developed sectors as ready meals and prepared foods. Managers provide execution.  More Intensive Use of Space  Develop the distribution channel  Nurture our brand names People. the changing needs of the customers Tesco can introduce new product lines  Require more attention to R&D.Building on our knowledge and understanding to provide exactly what our customers want.  also develop different store types in Eastern European and Far Eastern markets  value added by the uniqueness will eventually lead Tesco to command a premium price   4. value. Managers focus on the means.

But it said it wants to develop this further. The website had 1.  4. will "enable us to provide a customised multi-channel experience that links all our channels". It does not intend to offer its full food range online at the moment. generating 13. making the M&S brand more accessible to more customers around the world. with plans for more tailored websites for specific local markets set for 2013. The platform. with sales up 49%. M&S is also targeting the international market. It originally planned to save £250m with the project. Should be wisely invested and monitored. Its current offering M&S Direct performed well in the first half. It said the savings have not involved any capital investment. web-based ordering points in stores. with an aggressive plan to grow sales to £1bn by 2013/14. IT savings The retailer has increased its target cost savings from its Project 2020. Over three years it will build our multi-channel and international capability. ending its current contract with Amazon in 2013. but does plan to expand the online wine. which will transform its IT and logistics. Of this. The retailer will install touch-screen. flower and 'food to order' business from £80m today to £150m by 2013/14.2 million unique users during the period.000 orders. but has now increased that to £300m. £125m will be saved via improvements in IT.3 Timescales and targets to monitor a future strategy: Marks & Spencer wants to become the UK's leading multi-channel retailer. This will develop M&S into an international multi-channel retailer. and will start selling online internationally in one market in 2011. . the company said. It plans to develop a new website platform.

uk-accessed on 24-08-2011 www.org.co.uk-accessed on 224-08-2011 www.com-accessed on 24-08-2-11 Books and Journals: Grant R.  References: Web-sites: www.sps.The Rise and Fall of Strategic Planning (Prentice Hall.businessballs.tesco.org-accessed on 24-08-2-11 www. 2000) .cipd.marksandspencer. 2004) Mintzberg H. new information systems and improved operational execution.uk-accessed on 24-08-2-11 www.Contemporary Strategy Analysis (Blackwell.Project 2020 will see a restructured supply chain.co.

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