Objectives contain three elements: The attribute that is chosen as a measure of efficiency. The scale that you will use to measure the attribute. The value on the scale which the business seeks to attain.
This proves that the change in political factors have their effect on the businesses of the organisations. Change in social factors affects the choice of the customers.
This shows that the change in the social factors affect the strategies of the business. The organisations need to update themselves according to the latest technology so that they can improve the operational processes running in the organisations.
Due to lack of technological knowledge, the organisation fails to compete with the competitors and have bearded increased cost of production.
The organisations should keep in mind that their production processes are not affecting the environment in negative way. Government and media are arguing on the reduction of packaging by the companies. Consumers are also aware of the laws available for them to sue the companies if they have been cheated by any of the organisations.
SWOT analysis is done to analyse the strength, weakness, opportunities and threats to the organisation. Strength and weakness are the internal factors of the organisation while the opportunities and threats can be analysed by observing the outside environment.
Foss, Strengths- High quality products: The products of Marks and Spencer are of high quality and this organisation believes in providing good services to the customers.
Large market share in the industry: As Marks and Spencer is into so many businesses, it has a very large market share and has its stores at the high street of London.
Marks and Spencer deals with many product lines like; household items, apparels, food and drinks, etc. Weakness- Rely on British supplier: Marks and Spencer rely on British supplier for the raw materials while its competitors deal with foreign suppliers for low cost products.
Marks and Spencer is not technologically sound as compared to its competitors. The company do not even provide shopping cards to the customers.
As all the companies now days moving towards e-business, Marks and Spencer should also use this technology of conducting business online. The organisation should take step towards selling designer and trendier clothes so that it can attract the young customers.
David, Threats- Large competition:-ANSOFF MATRIX BY:KANIKA SINGH MARKS AND SPENCERS. ANSOFF MATRIX: INTRODUCTION Marks and Spencer’s is one of the biggest retailers in the UK.
They have been able to diversify from clothing into other areas such as ‘home’ and food and emphasis ‘Quality’ at ‘Affordable’ prices, but this hasn’t always been the case as we’ll. The menswear customers are seen as vital to Marks and Spencer and by improving things in this department, the recovery of the clothing business continues to flourish.
This is a good example of market penetration. (please refer to Figure 4: Ansoff’s Matrix). Ansoff matrix: We can use Ansoff product/market matrix to identify the strategic direction for Marks and Spencer’s.
This matrix helps to understand the strategic option available to M&S in terms of products and market coverage, by looking at their strategic capability. To suggest new strategic developments for Marks and Spencer can also use the Ansoff Matrix.
In the Ansoff matrix, the product and market choices available to an organization. Markets may be defined as customers, and products as items sold to customers (Lynch, ).
Marks and Spencer is one of the UK’s leading retailers. MandS was founded by a partnership between Michael marks, a polish immigrant from Slonim and Thomas Spencer in the early years to Then the next few years Michael marks opened some market stalls in .
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