Managing for the future Assignment Example | Topics and Well Written Essays - 4500 words

Managing for the future - Assignment Example The analysis of the performance then focuses on how the company has performed in these three factors. Finally scenario development is done and the management initiative that needs to be taken for the success of the organization in future has been recommended. Company Overview Marks and Spencer (M&S) has been operating in the retail industry for last 129 years and has transformed itself from a single market stall to a multi-channel retailer who has international presence. The company is operating in more than 50 territories with employee strength of 82,000 people. They stand on the pillars of trust, innovation, value, service, quality and works hard to ensure that that they sustain in the market by continuing to offer value relevant to the customers. They are shifting their focus from United Kingdom and diversifying their product range, location and channels in order to broaden their focus towards the international market. The turnover of the company from the market of UK comes from g eneral merchandises (46%) and food (54%). They offer great value, high quality, stylish clothing and home products. Beside this they also offer quality food that is sourced from several suppliers present all around the world. In UK they have around 766 stores facilitated with flourishing e-commerce business. In UK they are the market leader in menswear, women’s wear and lingerie section. ... In order to make these initiatives successful the company has engaged their customer, suppliers and employees (Marks and Spencer plc, 2013a). Company’s History from 2007 to 2013 M&S aims to place itself as a multi-channel retailer that is truly international and making them accessible to more and more customers present around the world. The company has implemented wide range of activities and claims to make progress and extract benefits from them. One of the most significant initiatives that the company has taken is the design of Plan A. Through this plan M&S aims to make the operation of Republic of Ireland and UK carbon neutral, broaden sustainable sourcing, no waste is send to the land fill, set standards for ethical trading and help the people to move towards healthy lifestyle (Marks and Spencer plc, 2007). This plan creates an impact on the corporate social responsibility (CSR), environmental issues and sustainability. Following is the overview of what the company has don e in these past seven years. 2007 In this year M&S plans to initiate a five year, 100 point, ?200 million ‘eco-plan’ that touches every part of the company and transforms the way in which they conduct business. This plan aims towards â€Å"doing the right thing†. The company initially started with 100 commitments which were later extended to 180 commitments. This plan is made to work in collaboration with the suppliers and the customers who look towards combating with the climatic changes, trade ethically, use raw materials that are sustainable, reduce waste and encourage the customers to lead a healthy lifestyle (Marks and Spencer plc, 2013b). This