Marks and Spencer's Company Analysis

Only available on StudyMode
  • Topic: Michael Marks, Simon Marks, 1st Baron Marks of Broughton, Thomas Spencer
  • Pages : 3 (992 words )
  • Download(s) : 155
  • Published : January 24, 2013
Open Document
Text Preview
Marks and Spenser is the largest retailer in UK, and 43rd in the world. The company owns more than 1103 stores, of which 703 - in the UK, and the remaining 400 in 44 other countries (Marks & Spencer, 2013). M&S has been known as a manufacturer of clothing, but since the 2000s, the company developed in other areas, including: food, household good, financial services. In 1998, M&S became the first British retailer profit of which exceeded £ 1 billion (Bevan, 2002). This essay will focus on origin and key developments. Also, it will touch on strengths, weaknesses, opportunities and the threats the organization faces. M&S started as a small household shop which established by Michael Marks in 1884. Because he frequently traded with a supplier, he knew Tom Spencer who was a cashier in this warehouse. It is the person who invested £300 into M&S to further expand (Harvey & Walker, 2012). From this year, the small shop began to trade under the name ‘Marks and Spencer Penny Bazaar’. Simon Marks, Michael’s son, took over M&S in 1916. In order to be outstanding from fierce competition, Simon went to America for gaining experience and absorbing useful ideas. During the period from 1930s to 1940s, M&S witnessed a rapid growth. In 1927, M&S went public. Between 1929 and 1939, its profits rose by about 21million to nearly 25 million. At the same time, M&S introduced the concept of CRS, which is one of the key determinants for its success. CRS is responding to the needs of a company’s stakeholders, especially staff. In the late of 1940s, the Second World War collapsed. Britain went through a huge recession. A considerable number of people live in impoverished, the gap between different classes broadened. Some people showed their anger by ruining infrastructures and stores. The implement of CRS improved the condition of employers and established good image. As a result, M&S recovered quicker than other companies. According to...
tracking img