highlight the main strategic thrusts of Marks and spencer in the 21st century

Marks and Spencer

Introduction

Marks and Spencer is a leading UK-based retailer of clothing , foods and home ware . The 125 years old company has a very strong market position the UK with 665 stores besides presence in 40 countries through 291 franchisees (Datamonitor . At the beginning of the twenty first strategy , the company for the first time in over a century , changed its strategies in keeping with the changing times . In this , we shall discuss some of the strategic changes made by M S and its affect on the company 's

business

History

Marks and Spencer (M S , Britain 's largest retailer , was started by Michael Marks , a Jewish refugee from Eastern Europe in 1884 . It started as a market stall and initially sold everything for a penny . In 1894 Marks partnered with Tom Spencer to open the first Marks and Spencer retail store . These first stores had a very simple concept : low pricing and `courteous and charming shop girls (Cummings Wilson , 2006 . And for most part of its 125 years history , M S stuck to this simple strategy , winning loyal customers . Michael Marks son , Simon Marks , took over the company at his father 's death and continued to head the retail giant until his death in1964 . By 1980s , M S had become a part of the British culture and employed over 70 ,000 people . The retailer 's growth story however came to a halt in 1998 , when for the first time in thirty years , its half yearly operating...