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Marks & Spencer

In: Business and Management

Submitted By falahuddinshery
Words 1579
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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 century M & 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 80's Marks & Spencer experienced a massive growth of interest in culture and symbolism in organizations. The culture and symbolism that pertain to meaning and imagery are

used to emphasize the ‘softer’ character of the organization. M & S pattern…...

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