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Sustainability
The term sustainability is no longer used for only environmental issues. It impacts every
aspect of the organization such as economic, social, technological and cultural
issues.(James, 2009). According to the World Council for Economic Development
(WCED), sustainability is the development that meets the needs of the present without
compromising the ability of future generations to meet their own needs. So, for
industrial development to be sustainable, it must address important issues at the macro
level, such as: economic efficiency (innovation, prosperity, and productivity), social
equity (poverty, community, health and wellness, human rights) and environmental
accountability (climate change, land use, biodiversity)
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Introduction to Marks and Spencer
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Marks and Spencer started as a stall by Michael Marks in Leeds market in 1884.
Thomas Spencer joined the business in 1894 and became a joint partner of the
company.
In 1904 the first shop was opened in a covered arcade in Leeds.
M&S became public limited company in 1926.
In 1931 a food department was introduced, selling produce and canned goods.
In 1933 a staff welfare service was set up to provide pensions, subsidised staffcanteens, health and dental services, hairdressing and even camping holidays.
In 1934 M&S became the first British retailer to set up its own research
laboratory to pioneer new fabrics.
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In 1948 M&S launched its own food technology department to work closely with
suppliers, producers and farmers.
In 1954 research lab undertook the first ever systematic survey of womens leg sizes, to
create a new and improved sizing system for stockings.
In 1974 Indian and Chinese foods were introduced.
1n 2013 it operates in more than 44 international territories and it is known as a quality
products provider in both local and international markets.
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Mission, vision and objectives
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Mission
Providing new quality products in the areas of cloths, food, home and financial
services.
Social revolution, by providing the working class with clothes fit for lords and food
fit for kings.
Delivering high quality goods.
Offering affordable price.
Receiving by customers good value for money.
(Grundy, 2003)
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Goals and objectives
Increase market shares in retailing.
Continuing differentiation strategy by delivering freshness, quality and innovation
Becoming the worlds most sustainable major retailer by 2015.
(Grayson, 2008)
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Vision
To be the standard against which others are measured.
Benchmarking conducted by others companies in order to
implementing same or similar strategy into their business practice.
Competitors aspiration to gain the same level of quality as M&S.
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Political.
Job cuts by the government Free trade agreement with India
Economic. UK suffered its worst recession
Consumer expenditure declined by 0.9% in 2012.
Social. UK has a multicultural model containing different races, ethnics and
religions.People prefer cheaper clothings now, due to decrease in the income
sources.Technological.
Retailing methods are becoming more dependent on online shopping
through internet
different payment methods
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Strengths. Brand name
Leading retailer
Diversified business
Weaknesses.
Failed to compete with companies offering lower costs
Failed to keep up to date fashion
Opportunities
India, Russia and other international markets for growth
Online business
Threats.
ASDA and Primark providing cheap products
Fuel costs may lead to decrease operating costs
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Looking at the discussions above, there appears several strategic options that
Marks and Spencer could focus on to refurbish their operations. For instance, the
company should look into a partnership with the more current and competitive
players in the retail industry. This is to broaden the overall outlook of Marks and
Spencer regarding their standing in the market. This also reduces the possibility
of the company being acquired by the larger competitors.
The company should look also in the possibility of improving the management of
their resources. As stated in the SWOT analysis above, the company has a lot of
resources and they need to find a proper fit on how to manage these resources to
their advantage. The maximisation may take on changes in restructuring the
processes and the infusion of technology as well as other knowledge based
processes.