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Strategic Change Management in M&S

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Strategic change management Marks and Spencer Profile: M&S is well-known for both its quantity basis clothing comes in most colors, sizes and styles as well as its quality particularly in the Food Hall, where the produce is often considered superior to that in many super markets. M&S is known to a lot of people as Marks & Sparks or M&S, is one of the leading retailers with over 600 stores in the UK and over 200 more in 40 other countries. Although perhaps not the most fashionable place to shop, most of its domestic store sells both clothing and food since the turn of the country it has started expanding into other ranges such as home ware, furniture and technology. In 1998 it became the first British retailer to make a pre-tax …show more content…

***working party also acted in effect as an early warning systems on issue that might otherwise be consigned to an adversarial forum. Background of change that exist economy at M&S In 2001, M&S closed down its European stores in an attempt to improve its profitability. It also sold off the US based Brooks Brother’s clothing chain that it had bought some years earlier. By 2003, M&S had recovered from its financial problems. Sales had increased and the company had increased its market share. Most of this growth had come from increases in the number of customers in the 30+ age group, both men and women. Financial services are greatly affected by the state of the economy. In 2003, M&S experienced a down trend in its financial service business. Low level of economic growth and uncertainty meant some people were reluctant to borrow money, despite interest rates being very low. Approaches for M&S medium term performance The interpretation of HRM is based on incorporating either a “soft”, development humanist approach or a “hard”, situational contingent approach (Liao, 2005). Schneeider (1994) has suggested that in the “soft” approach, effective HRM is seen necessarily to involve a focus upon fostering employee motivation, commitment and development. It is an approach that acknowledges the importance of HRM to the aims of the business, whilst reflecting attempt by management to create a work environment that emphasizes

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