MARKS AND SPENCER

Marks and Spencer

Mark and Spencer PLC

Mark and Spencer PLC

Marks and Spencer PLC is one of the most famous clothing brands of the United Kingdom. The brand is also known as M&S, and is among the major corporation in the British multinational listings. The brand has the prestige to have around 703 outlets in the home country, and more than 360 outlets in the rest of the world. The specialty of the brand is in the clothing, home and luxury food products industry. The brand was founded by Mr. Michael Marks and Mr. Thomas Spencer. Over 21 million people visit the M&S outlets every week, which reflects the popularity of the brand (Mellahi et.al. 2002, pp. 15). It is one of the best brands in the world.

Strategic Planning

Mission

“To be the standard against which others are measured, to make inspirational quality accessible to all and quality value, service, innovation and trust”.

Vision

“To be the standard against which others are measured”

Objectives

The objectives of Marks and Spencer are to achieve things on a long term. All the business units of the company operate with different objectives, and vary according to the business nature of the brand. The brand has an objective to ensure that it manages appropriate funds in order to effectively manage the financial obligations, and successfully achieve the established business objectives.

Goals

The latest goal of Marks and Spencer is to become the world's most “sustainable retailer” by the year 2015. This goal is to be achieved under the eco and ethical plan of the brand.

Core Competencies

Marks and Spencer has an improved supply chain network and a potential capital structure.

M&S is a 100% owned brands

It is a diverse brand with high success in all the business units

Consumer relationship

Technological resources

Innovation Capacity

Issues in Strategic Planning

The brand has to an extent become too complicated and needs to modify its image related to this factor.

Due to the issues in strategic planning the rivals have successfully stolen the core business of the brand.

The brand seems to be out of date and need to revive the business strategy.

Planning Techniques

Marks and Spencer has reflected symptoms of being in pressure to deal with the external factors for the organization. The planning techniques of the brand need the use a changed approach and this needs the implementation and initiation of a new technique under the management.

Based on the existing models and management theories Marks & Spencer must implement the change management approach, and must go for the organizational development (Kamal 2011, pp. n.d.).

Formulating a Strategy

SWOT Analysis

Strengths

The 125 years rich history of the brand.

Strong brand image and reputation.

Quality factor in manufacturing

Innovation factor

Up to the global ISO standards

e-Shopping and delivery network

The technological excellence of the brand, and efficient production team

Alliance with international companies

Weaknesses

High cost of the products

The brand lacks price competition

Needs to cater the youth more effectively

Takes longer time in implementing changes in the business processes.

Needs to work more on the women-oriented fashion, ...