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Evaluation Of The Strategic Options Facing M & S

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Contents Introduction 1 Company overview 1 Environmental analysis 2 SWOT 2 PESTLE 2 Governance and Alliance Structure 4 Key issues facing M & S 4 Challenge of Strategy Development in a multiple stakeholder environment 6 Evaluation of the Strategic Options facing M&S 7 Recommendations 10 Conclusion 11 References 11 Introduction Strategic planning is defined as a process by which an organization outlines its strategy and makes decision based on the fulfilment of this strategy by the allocation of its resources based on achieving its strategic objective. The senior management of a company is usually responsible for formulating this strategy and hence it is important for them to understand the constantly changing environment to formulate and effective strategy (Mintzberg, 1994). The report deals with a retailing company known as Marks and Spencer (M & S) and the key issues that the company faced in developing and implementing its strategic plan. Company overview Marks and Spencer (M & S) was started by Michael Marks and later joint by a partner Tom Spencer in 1884. It is one of the largest British retailers that sold clothes, home furnishings, food, gifts etc. and was formerly known as St. Michael. It has markets in Europe, Far East, America and Asia. The company suffered a series of losses and a dip in the market share from a few years before the stepping down of the then CEO, Sir Richard Greenbury, in 1999. In 2001 the company underwent a drastic strategic change and the
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