Corporate Social Responsibility Strategy: Marks And Spencer
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Marks and Spencer is a UK based Multinational PLC that specializes in the selling of clothes, home products and luxury products. Marks and Spencer operates on global scale and is a leader in multiple markets around the world. Marks and spencer initiated a corporate social responsibility strategy called “Plan A” in 2007 and with this strategy Marks and Spencer set 100 commitments to be achieved by 2010. The main objective of the strategy is to be the world’s most sustainable major retailor. Marks and spencer is operating in 170 countries around the world, due to this Marks and spencer has a sales turnover of 10 billion dollars, and makes a profit of approximately 500 million dollars.
Throughout this investigation I will be analyzing whether …show more content…
The company’s goal was to have that percentage reach 50 percent by 2015; in 2020 M&S aims to have all of its products go out the doors—only if they are truly sustainable. The hard part for M&S will be selling a completely “environmental” or “ethical” clothing line, but the company is on its way.
The vast majority of its suppliers have made strides in energy efficiency, and more importantly, the company is bolstering its plan to make sure all of its suppliers are paying workers a fair wage. And in a sign of what’s to come, the Shopping program at M&S continues to make strides. Last year its customers dropped off 4 million garments, which raised £3.2 million ($5 million) for its partner Oxfam. The program has also expanded outside of Britain to the Czech Republic and Hong Kong.
Marks & Spencer's Plan A sustainability strategy has racked up £135m worth of savings over the past year, a 29 per cent increase on the previous 12 months. The £30m extra net benefit is one of a number of achievements recorded in figures the retailer issued yesterday, including confirmation 45 per cent of products now come under the Plan A program, in that they are Fairtrade, organic, carbon neutral, or made from recycled material, up from 30 per cent last year. The company also announced it has now clocked up its one billionth sustainable product …show more content…
The performance might appear to represent little progress on the 138 goals Marks & Spencer had achieved by last year, but a company spokesman insisted the firm was now tackling much tougher environmental goals that take longer to achieve.
The driving tenet behind corporate social responsibility and will soon become a necessary component of every company’s business model. With statistics including a 78% employee engagement rate and £135 million worth of net benefit to be reinvested back into the business, Plan A is certainly earning its ROI in certain areas. One area needing improvement is in liaising with other business partners: Plan A is falling behind on requiring all food suppliers to reach adequate levels in their own sustainability framework. Only 40% of suppliers are even achieving the bronze status or higher, with a mere seven suppliers reaching silver level — though there is progress being made towards energy efficiency with their clothing
Throughout this investigation I will be analyzing whether …show more content…
The company’s goal was to have that percentage reach 50 percent by 2015; in 2020 M&S aims to have all of its products go out the doors—only if they are truly sustainable. The hard part for M&S will be selling a completely “environmental” or “ethical” clothing line, but the company is on its way.
The vast majority of its suppliers have made strides in energy efficiency, and more importantly, the company is bolstering its plan to make sure all of its suppliers are paying workers a fair wage. And in a sign of what’s to come, the Shopping program at M&S continues to make strides. Last year its customers dropped off 4 million garments, which raised £3.2 million ($5 million) for its partner Oxfam. The program has also expanded outside of Britain to the Czech Republic and Hong Kong.
Marks & Spencer's Plan A sustainability strategy has racked up £135m worth of savings over the past year, a 29 per cent increase on the previous 12 months. The £30m extra net benefit is one of a number of achievements recorded in figures the retailer issued yesterday, including confirmation 45 per cent of products now come under the Plan A program, in that they are Fairtrade, organic, carbon neutral, or made from recycled material, up from 30 per cent last year. The company also announced it has now clocked up its one billionth sustainable product …show more content…
The performance might appear to represent little progress on the 138 goals Marks & Spencer had achieved by last year, but a company spokesman insisted the firm was now tackling much tougher environmental goals that take longer to achieve.
The driving tenet behind corporate social responsibility and will soon become a necessary component of every company’s business model. With statistics including a 78% employee engagement rate and £135 million worth of net benefit to be reinvested back into the business, Plan A is certainly earning its ROI in certain areas. One area needing improvement is in liaising with other business partners: Plan A is falling behind on requiring all food suppliers to reach adequate levels in their own sustainability framework. Only 40% of suppliers are even achieving the bronze status or higher, with a mere seven suppliers reaching silver level — though there is progress being made towards energy efficiency with their clothing