MARKS & SPENCER

Management Reporting of Marks & Spencer

Management Reporting of Marks & Spencer

Introduction

Marks & Spencer p.l.c. is one of the most recognizable clothing retailers in the UK. Company stores also sell food and goods for the home and financial services. M & S enjoys a consistent record of success and profitability since its origin, with a worldwide reputation for its innovative, high quality products and competitive prices. Nevertheless, the prestige of M & S 'and outstanding long-term results have been hit in recent years by falling sales and lower customer satisfaction. The purpose of this report is to identify the key factors that have allowed M & S, to outperform their competitors until mid-1990. This appointment will also explore the reasons for the recent crisis, M & S ", and it offers a range of strategies to restore competitiveness and to deal with the problems of M & S faces, now and in the future.

Discussion

Perhaps the major changes at Marks & Spencer departure of Richard Greenbury, and most of the old senior management team. The old top-down autocratic style had disappeared. The new team, headed by Luc Vandevelde is a much weaker position, thanks largely to an increase in participation by major shareholders, whose interests and power, and increased as a result of the problems. Although Marks & Spencer has also performed a major shareholders were largely met, so having a little from day to day interest in the company, and their power was latent.

Analysts and commentators have become important for the influence they may have on other groups. Although customers are important to the ultimate success of the strategy, their impact is indirect (the shop in M & S or not?) And strategies for M & S, is unlikely to be major concern over the breakfast table.

From a management perspective ...