ANALYSIS OF STRATEGY ADOPTION BY MARKS & SPENCER
M&S Plc is one of the popular British retailers with its headquarters situated in UK in Westminster. The branch stores set up across 42 countries with about 365 branches in UK alone, focus on two major lines of product, exclusive clothes and quality food stuff. M&S is also known as Marks and Spencer, Marks and Sparks. The Founders of the company were Michael Marks AND Thomas Spencer in Leeds, establishing the system in 1884.
Currently over 20 million people walk in to the stores each week. A work force of about 78 thousand to cater to the customers with value products sourced from about 2000 suppliers from across the globe.
Specializing in women’s wear and lingerie as well as menswear and kid’s wear , the company has extended lines of food products accounting for close upon 50 % of each of clothing and food , in overall global market. The food specialties include home need , groceries , and readymade and partly prepared foods.
The missions of the organization are set so as to realize a vision based on an economically value based , ecologically viable and socially appealing market culture.
Attempts are made to analyze status of MS from strategy point of view , identifying and critically examining the areas , relevance of the strategy models that shape the company , and strategy direction that resulted from the change drivers of the market environment. As such the introductory module of the essay will outline the a brief summary as the company profile , introduction to literature review , sources of competitive advantage , review of literature introduces referring to strategy clock , competency and competitive advantage . Likewise this will critically analyze change management strategies adopted by Marks and Spencer and competence of M&S.
According to C.K Prahald et al (1980 ) core Competency is a business concept that refers to a unique strength an organization can have. This can by anything like economies of scale , Strong investment , robust and reliable technology , long experience in the market, a very large base of loyal customers. Etc. He elaborates that core competency is an unique attribute that makes company unique in the way the organization or the employees work, by providing a difficult to imitate, an all applicable, end user value based...