From: Lucile Nurit
`To: Mr Linving
Business Report: Marks & Spencer
Marks and Spencer is a major British multinational retailer headquartered in the City of Manchester, London. Michael Marks and Thomas Spencer founded it in 1885. M&S is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. M&S has more than 800 stores in UK and has a global portfolio of over 1,100 stores spreading across more than 50 countries. M&S serves over 34 million customers each week.
It is specialised in the selling of clothing, home products and luxury food products. Indeed, the company concentrate itself on quality products for well off customers.
It is employing more that 85 813 person all over the world in 2014 and got a turnover of 10 026 billion with a 458 million profit. That show how M&S take a huge place in retailer market.
Over its development M&S has changed of structure. It became over the years, a flatter structure organisation. Employees got more responsibilities that enable them to take quick decision. They must be prepared to explain and justify the decision they take.
In order to development that structure, M&S has given more importance to the development of employees ‘ careers by set up training and reviewing of skills in discussion session between employees. Moreover, employees are able to create a career planning profile that enables them to focus on their next target role. It shows how M&S is supporting the development of skills within the company. The aim of this strategy is to make evolve without interruption the skills of employees and by this improve performance of the company. It brings benefits to both parts for they own development. By training and developing its staff well, Marks & Spencer is in a position to develop a competitive advantage over its competitors.
B. Working practices
M&S success is due to its guiding principles:
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