Marks and Spencer
Company Background and Mission Statement.
Marks and spencer was mainly founded by Michael Marks and Paul Myners in the year 1884 as a market stall in Leeds.. Later it became a partnership in 1894 when Spencer joined them in the business. They started as a clothing retailer and later they diversified their business into other categories such as food, finance, etc. Today it’s one of the biggest British retailers which has its presence in more than 30 countries with 379 stores worldwide selling its own line of clothing, food, and household items. The company’s mission statement is “Making aspirational quality accessible to all”. It is one of the shortest mission statement yet one of the powerful mission statement a company could ever have. It emphasises mainly on quality, making clear to everybody that quality is most important priority of the company. Environmental Analysis
Let us now do an analysis of the environmental factors that affects the company in terms of Political factors Technological factors
The political factors that can affect Marks and Spencer in political and legal side are: industrial, employment and consumer law, taxation, policies, government stability, competition policy, war in their trade country and foreign trade regulations. If any of these factors change then it would affect the company. In order to face these problems two types of guidances are required, policy guidance and competition guidance. Economical
The economical factors that could affect the business of marks and spencer are inflation, unemployment, income, interest rate, economic growth, exchange rate and price of factors of production. These factors are to be considered and taken care of while they are operating for their business. However relative recession and proof industry can be adopted to face the above mention factors. Social
There are many social factors could affect M&S, some of the major things are: Level of education, lifestyle, mobility of population and income distribution,.. Marks and Spencer is a well positioned and a competitive player in its market segment.Goods progress has been made in setting up an online shopping facility. It should continue this path, but also to be care about their elderly customer base. It sells organics and healthy eating food to its customers. Eating out and take away is available. Besides being environmental conscious, it is also expanding its operations. Technological
Technology have been rapidly changing, bringing in revolutionary ways of shooping and security.Marks and Spencer has to move along with the new technology in order to grow their business, make their business more secure, and compete with the competitors. The following factors should be considered to keep in pace with the upcoming technological changes: Technological transfer, technology development and rate of obsolescence. Internet technology has advanced and spread further, more people use and trust online shopping. This store is making use of latest technology to offer good and cost efficient service. Legal
Whenever there are any changes in legal environment or in law it affects an organization in many ways. For instance, if there is a tightening of health and safety legislation and regulations it will increase costs, premises failing to meet the higher standards may be closed down etc. Sometimes, an imposition of complete ban on a particular product can adversely affect the organization’s profitability. Marks & Spencer knows that it is responsible not just for what it actually owns, but also for the total footprint of its business through the manufacture, use and disposal of its products. This has required it to work in partnership with its stakeholders to define new limits for business behavior. SWOT Analysis
1. Marks and spencer is one of...