Sustainability

The term sustainability is no longer used for only environmental issues. It impacts every aspect of the organization such as economic, social, technological and cultural issues.(James, 2009). According to the World Council for Economic Development (WCED), sustainability is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs. So, for industrial development to be sustainable, it must address important issues at the macro level, such as: economic efficiency (innovation, prosperity, and productivity), social equity (poverty, community, health and wellness, human rights) and environmental accountability (climate change, land use, biodiversity)

Introduction to Marks and Spencer

Marks and Spencer started as a stall by Michael Marks in Leeds market in 1884.
Thomas Spencer joined the business in 1894 and became a joint partner of the company.

In 1904 the first shop was opened in a covered arcade in Leeds.

M&S became public limited company in 1926. In 1931 a food department was introduced, selling produce and canned goods. In 1933 a staff welfare service was set up to provide pensions, subsidised staff canteens, health and dental services, hairdressing and even camping holidays.

In 1934 M&S became the first British retailer to set up its own research laboratory to pioneer new fabrics.

In 1948 M&S launched its own food technology department to work closely with suppliers, producers and farmers.

In 1954 research lab undertook the first ever systematic survey of womens leg sizes, to create a new and improved sizing system for stockings.
In 1974 Indian and Chinese foods were introduced.

1n 2013 it operates in more than 44 international territories and it is known as a quality products provider in both local and international markets.

Mission, vision and objectives

Mission
Providing new quality products in the areas of cloths, food, home and financial services.

Social revolution, by providing the working class with clothes fit for lords and food fit for kings.
Delivering high quality goods. Offering affordable price. Receiving by customers good value for money. (Grundy, 2003)

Goals and objectives

Increase market shares in retailing. Continuing differentiation strategy by delivering freshness, quality and innovation

Becoming the worlds most sustainable major retailer by 2015.

(Grayson, 2008)

Vision To be the standard against which others are measured. Benchmarking conducted by others companies in order to implementing same or similar strategy into their business practice. Competitors aspiration to gain the same level of quality as M&S.

Political.
Job cuts by the government Free trade agreement with India

Economic.
UK suffered its worst recession Consumer expenditure declined by 0.9% in 2012.

Social.
UK has a multicultural model containing different races, ethnics and

religions

People prefer cheaper clothings now, due to decrease in the income

sources

Technological.
Retailing methods are becoming more dependent on online shopping through internet different payment methods

Strengths.
Brand name Leading retailer Diversified business

Weaknesses.
Failed to compete with companies offering lower costs Failed to keep up to date fashion

Opportunities
India, Russia and other international markets for growth Online business

Threats.
ASDA and Primark providing cheap products Fuel costs may lead to decrease operating costs

Looking at the discussions above, there appears several strategic options that Marks and Spencer could focus on to refurbish their operations. For instance, the company should look into a partnership with the more current and competitive players in the retail industry. This is to broaden the overall outlook of Marks and Spencer regarding their standing in the market. This also reduces the possibility of the company being acquired by the larger competitors. The company should look also in the possibility of improving the management of their resources. As stated in the SWOT analysis above, the company has a lot of resources and they need to find a proper fit on how to manage these resources to their advantage. The maximisation may take on changes in restructuring the processes and the infusion of technology as well as other knowledge based processes.