Objectives Of Strategic Plan Implemented By M & S

3734 WordsMar 14, 201515 Pages
CONTENTS Introduction 2 External Environment Analysis 3 Strategic Plan Implemented by M&S 4 Development of Governance and Alliance Structures 5 Key Issues 6 Inefficient use of Resources and Capabilities 6 Organizational Politics 6 Change Management 7 Lack of Market Alignment 8 Challenge of Strategy Development in Complex Multiple Stakeholder Environment 8 Strategic Options facing M&S 9 Conclusion and Recommendations 10 References 12 INTRODUCTION Marks and Spencer (M&S) is one of the leading global fashion retail brands in the world. The company that was established in the year 1984 in Manchester became one of the biggest British retail brands during the 1980s, followed by significant expansion in the UK and Europe during the 80s and 90s. The company has currently expanded to over fifty international territories and boasts of around 798 stores in the UK and around 455 stores in the international markets (Kornberger, 2011). While the 1980s and early 90s proved to be extremely beneficial for the company, the company started witnessing decline in its performance, sales and market share in the late 1980s. In addition to the changes taking place in the external economic environment of the company, it also underwent multiple restructuring and internal changes (Kornberger, 2011). Internal conflicts and management changes and realignments led to continuous changes in the business, its strategies and performance, which then led to significant undesirable changes and decline in the
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