Business Strategy Essay Example | Topics and Well Written Essays - 1500 words - 1

Business Strategy - Essay ExampleIn the year, 2010 Marks and Spencer plc took the authority of the largest material retailer in the United Kingdom. With 885 stores in over 40 countries with 600 stores being in the UK, the gild boasted that for everyone on three women were wearing their bras. However, analysts were worried about the sustainability of the troupe in UK retailing recovery. In the same year, a new CEO took over the running of the company he was faced with several issues that were associated with the reassessment of the companys competitive strategy and the present challenges of strategic change. The choosing of 50-year-old Mark Bolland, who previously was the CEO of a UK supermarket chain, was greeted with a very positive response from the public, media and shareholders alike. The new CEO faced several challenges in his new position he had to implement strategies, which would secure the future of the company that had the most famous name in the obtain malls. The compa ny for long had been the largest retailer of clothes in the UK. This was an organization to which analysts referred to when they were reporting whether the naughty street has a good or a bad season of sales. An organization, which historically is loved and known by the slew of Britain. At the end of 2009 and the beginning of 2010, investors were nervous. Below are several questions that were raised about the future of the watertight that needed to be resolved (Bevan, 2007 p45). Analysis In the year 2009, the company delivered reasonable results in the 2008-09 financial, mint year. This was a period that was hit by the economic recession. In the previous year, the company had registered a ? 1 billion mark in the pre-tax profits for the first time in the decade. The companys story had suffered a great deal when in 1998, it became the first retailer in Britain to make profits that amounted to ?1 billion, however, within the same year the company was issuing profit warnings. This w as a self-inflicted catastrophic injury from its insurance premium position. The company managed to limp through the period with the turbulent changes that were hitting it from all directions. With Sir Stuarts appointment as the CEO of the company in the year 2004, saw the company regain its lost glory, and, as a result, regained its health and returned to the profit level of ?1 billion (Bevan, 2007 p57). When the company was founded and was still being rum by Simon Mark, he was known for his personal, autocratic and top-down management style. He was also known for his infamous circumspection that he had to detail. He showed this with the way that he dealt with the suppliers. He ensured that he always got his supplies from specific suppliers and always ensured that the goods that were supplied by these suppliers were to specification. By this, he built a relationship between Marks and Spencer plc and the supplying group. This assured customers with risque and consistent quality. The company became largely successful in terms of delivery of high quality and accepted brand to the customers. By this, the company earned outstanding rewards in profit and market share (Bevan, 2007 p60). historically the company was run using a trusted, tried and tested recipe this is in the way the company did business (Bevan, 2007 p65). It was embedded in several fundamental principles that the company was run on 1. The customers were to be offered high quality and well designed merchandise that was also