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Marks & Spencer
Marks & Spencer was founded on 1884 as a market stall by Marks. It became Marks &
Spencer in 1894 as a partnership with Spencer. From that humble beginning Marks & Spencer
became leader in the industry. And for more than half a centuryM & Spencer was the epitome
of enlightened capitalism. It dominated the British high streets and provided shoppers with
quality and value clothing unrivalled by competitors. It was one of Britain’s largest high profile
retailers selling variety of goods and services such as clothes, food, furniture and loan services.
But its glory has started to crumble when it profits began to fall since 1998. M & S has
been facing their worst times ever. Their problems began at the start of financial year April 1999.
They suffered almost from financial ruins. Since the event of its failure, M & S has been taking
more than several attempts to recover their losses.
Extensive studies and researches have been conducted to find out the root causes so as
to come up with appropriate strategies for development. Most of the studies started with the
company’s profile. Below is an analysis of the company’s profile and the validity of one
strategic management models to Marks & Spencer’ experiences.
Marks & Spencer’s organization culture is characterized as a reflection of “taken for
granted fashion” that is an attitude shared by members of the organization. The beliefs and basic
assumptions operate unconsciously among the members and also exist at the organizational
level. The assumptions and taken for granted fashion have taken its roots from the basis of the
organization’s success.
During the ...