STRATEGIC MANAGEMENT

Strategic Management Process in Marks and Spencer

1.0 Introduction1

2.0 Strategic Analysis2

2.1.1 Stages of PEST analysis2

2.1.2 Process of PEST analysis application to the company3

2.2.1 Competitive Environment4

2.2.3 Application to company4

2.3.1 Stages of Value Chain5

2.3.2 Porter Value Chain6

2.3.3 Application of Value Chain6

2.4.1 Resource Base View6

2.4.2 Steps of Resources Base view7

2.4.3 Process of Resource Base View7

2.5.1 Stages of Organization performance8

2.5.2 Steps of Organizational Performance8

2.5.3 Process of Organisation Performance9

3.1 Strategy Formulation9

3.1.0 Business Level Strategy10

3.1.1 Generic Strategy Steps10

3.1.2 Apply to the company10

3.2 Corporate Strategy11

4.0 Strategy Implementation11

5.0 Conclusion15

References17

Gino Cattani, Simone Ferriani, Lars Frederiksen, Florian Täube, (2011). Project-Based Organizing and Strategic Management. Strategic management journal. Volume 28. Pp. 192-193.18

Mike berry (2013), How M&S is making sustainability pay.18

Strategic Management Process in Marks and Spencer

1.0 Introduction

The process of strategic management involves the efforts of firm in order for it to gain competitive advantage over others in the same industry, by delivering those products that provides unique and distinctive set of needs to the customers. The application of the strategic management process allows the firm to build it distinctively by attracting a set of customers that tend to discover those elements of satisfaction that the company selects to represent as a resource of its competitive advantage or strategic strength (Graham Beaver, 2009, pp. 185-196).

Marks and Spencer is a global company which has its operations with more than 50 territories. It has more than 350 stores, and around 66000 employees (Bolland, 2013, p.8). The company is one of the major best known names in UK. The company aims to provide products with superior quality and specializes in selling products related to clothing, homecare and luxury food products. The company promotes working environment which is free from any discrimination and harassment, as well as it gives equal opportunities for employment to all (Grayson, 2010, pp.1026).

The retail industry of UK is a fast changing sector and thus very dynamic (Steve Burt, 2010). Companies need to be aware of fast changing trends in order to remain in the competition. The three core values of M&S i.e. affordability, service and quality are the major threats for other retailers such as Tesco, Top Shop, Debenhams, Jigsaw etc. , as all these are focused towards providing better values to customers (Frandsen, Morsing, & Vallentin, 2013, pp.236-246). The company is facing challenge in every business segment in which it competes.

2.0 Strategic Analysis

The corporate objectives and strategic objective of Marks and Spencer have been incorporated in the company's vision and mission statements. Mission statement outlines what the firm wants to achieve currently while vision statement states what the firm want to be in future and outlines the strategic goals or perspectives of the company (BBC, 2009). Marks and Spencer outlines clothing and food as its core business activity. The mission statement of the company is stated as “Making aspirational quality accessible to all”, while the vision statement reflects the fact that company wants to “set a standard against which others are measured” (Felsted (a), 2011). Marks and Spencer has defined its strategic intent through the company's vision ...