Essay on Critically Evaluate Change at Marks & Spencer
Marks and Spencer (M&S) p.l.c. is one of the largest retailers in the United Kingdom with a selling space of 12.5 million square feet, was established in 1884 as ‘Penny bazaar’. M&S sells clothing, food, footwear, gifts and home furnishings in its 760 stores around the world. The company’s wholly own and franchise stores operates in Europe, Hong Kong, Far East, Australia, Middle East, the Bahamas and Bermuda making a total of 34 countries.
This report critically evaluates the changes at M&S from the mid 1980s to current day. Initially it assesses and outlines the macro and micro environmental factors. Under macro environment the substantial competitive growth is explained using internet technology and globalisation. Under …show more content…
Purpose and Structure
The purpose of this report is to give a critical evaluation regarding the change at M&S from the mid 1980s to the current day. The plan for this report is organized as follows: (1) Introduction, (2) Environment Analysis, (3) Key Organizational and Strategic Changes, (4) Factors Cause the Decline and Rise of M&S, (5) Future Strategy, and (6) Conclusion and Recommendation.
2. Environment Analysis
Diversified and inter-connected influences drive the continuous and discontinuous change of the UK retailing sector environment. Three vital layers should be considered: the macro environment, industrial environment (or the micro environment), and the competitors and market environment (Lynch, 2000). This section will examine the environments where M&S compete.
2.1. Macro Environment
PESTEL analytical method will be employed to investigate the macro environment of the British retailing sector. As shown in Figure 1, the GDP of the UK has increased since 2002. Especially, the GDP of the UK has grown rapidly for two consecutive years (since 2005) and the trend seems