Marks & Spencer: The Phoenix Rises

Marks & Spencer: The Phoenix RisesIntroduction1975: Acquired two retail chains in Canada1985: M&S charge card introduced1994: Listed as UKs most profitable retailer 1996: Restructuring of board and release of Queens honors list1998: Financial crisis and fall in retail sales2000s: Reconstitution of leadership team, minimization of St. Michaels brand, major appointments, launch of Perfect Campaign and CUBE recovery plan

PESTPOLITICAL:Asian and UK financial crisisRelease of queens honors list in 1996Internal rivalry among board members

ECONOMIC:-Low economies of scale due to high labor intensive product-High interest rates-Increasing competition for cheap products with high qualityUnsuccessful acquisition of Brooks Brothers and Kings Super Markets

TECHNOLOGICAL:-Large investment in ITAcceptance of General as well as M&S Cards

SOCIAL:Strikes and unemploymentIncreased inclination towards consumer electronicsMedia frenzy over possible takeover contributed to firms weakening position

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