Key Milestones Of H & M

Hennes and Mauritz AB is a Swedish retail-clothing company, which has expanded enormously in the past years. H&M has grown from one single store in a small town in Sweden to a multinational ranked as the second largest global fashion retailer with its 3,600 stores in over 58 countries and $22 billion in annual sales (The World’s). This incredible story of success makes us wonder about their strategies and how they managed to get where they are today.

In 1884-1907 Michael Marks formed a partnership with Tom Spencer,in 1908-1931 The St Michael trademark was registered, in 1956-1979 The first stores in Continental Europe opened in Paris and Brussels, in 1980-2001 launched the first website

Ideally, a good mission statement also provides information regarding the organization’s overall management philosophy, its business model, its technical and social competencies, and its values and beliefs (Aguinis, 2009; Azaddin, 2011; Bart & Hupfer, 2004; Covin, Slevin, & Schultz, 1994). Moreover, to make mission statements of large companies more individually relevant, Azaddin (2011) advocates flexible “guiding statements” that account for the “context, culture, structure, and needs of an organization” (p. 31). Thus, a mission statement must be meaningful and applicable to all stakeholders for strategic decision-making to be effective.

The first Target store was also opened in 1962. It was started under the Dayton Hudson Corporation. As you can see the Target corporation has a decorated past as well. Target

In 1947, the incredible apparel retailer was founded by Erling Persson in Sweden. Over half century, Persson’s 34 years old grandson, named Karl-Johan Persson,

In 1987 the first IKEA opened in the UK, and in 2001 the company had 143 stores in 22

* Firm infrastructure: H&M is present in 44 markets in the world, holds more than 2,500 stores and employs over 94,000 people. Its head office is located in Stockholm, Sweden where there also are the main departments for finance, buying and design, advertising, accounts, communications, logistics,

Topshop was founded in 1964 in Sheffield within the ladies fashion store chain Peter Robinson Ltd. The first official stand alone store was opened in 1974, followed by Topman being introduced in 1978 exclusively for male customers. Topshop has over 300 stores in the UK and over 100 stores internationally and has a flagship store in both London andn New York. It is part of the Arcadia Group which also owns Dorothy Perkins, Burton and Miss Selfridge.

The company was founded by Richard Block and David Quayle in March 1969 and the first store was opened in Southampton Hampshire. The store was originally called Block and Quayle but was then shorted to B&Q. The owners wanted to offer their customers better value, longer opening hours and better product range.

In order to be competitive, companies have to satisfy customers’ requirements. They have to provide a fast and dependable service at reasonable price. There are five performance objectives that lead companies to competitiveness. They are:

The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains the firm's very reason for existing. It will

To begin with, Chapter two covers three important aspects of the business world which are competitiveness, strategy, and also productivity. These particular aspects are very important for any company to succeed in the world of business. With that being stated, any type of firm such as a manufacturer or a service provider, they must employ these three aspects because they play an important role in growing revenues. For an organization to even be considered successful, they must have a competitive advantage which leads to a strategy that will meet the company’s goals, while having the knowledge-ability to help produce the goods and services in a cost effective manner. Also, it is known that most organizations have a single state called the Mission Statement. The mission statement basically summarizes these three aspects of a company. One question that the Mission Statement should address is, “What level of business are we in?” This mission statement is categorized as the absolute basis for the organizational goals.

David, F. (2013). The Business Vision and Mission.  Strategic Management. Pearson Education Retrieved from http://faculty.unlv.edu/amiller/BUS496/david%20_sm14_inppt02.ppt

Since H&M opened the first shop in Sweden in 1947, using an American concept of shops selling stylish clothes with low prices bring H&M successful in the domestic market. H&M started to expand internationally from 1964. Not only Europe market, H&M also enter in North America, Asia and Middle East market.

Hennes and Mauritz (H&M) is a fast-fashion global leader in the fashion industry. Hence, to have a holistic sustainable development point of view, we will examine and address the Marco-environment by looking at PESTEL analysis framework. The competitive forces within the fashion industry will also be revealed throughout the Porter Five Forces Model.