Change Management for Marks & Spencer- myassignmenthelp.com

Question: Discuss about theChange Management for Marks Spencer. Answer: Introduction This case study deals with a UK retailer company named as Marks Spencer that has more than 1000 stores in countries like Britain (Wilson, 2015). This retail company is facing biggest clothing sale fall from last 10 years because of banking crisis as it end its reliance on heavy discount. Marks Spencer relies heavily on its initial seasonal deliveries as well as can take weeks for new order for reaching stores. The study properly analyzes about the changes need in the retail company (Marks Spencer) so that it can retain its topmost position in the near future (Johnson et al., 2013). Marks Spencer leads the food retailing sector and aims at providing excellent quality to their customers for over past years. Recently, they are facing stiff competition from closest competitors like Tesco and Sainsbury. For that reason, the present segment will discuss the need of change within Marks Spencer for attainment of future goals as well as objectives. Analysis On critical analysis, it is noted that Marks Spencer should hire or promote locals for helping at the time of designing the products that better suit the market needs and maintaining international appeal. It is recommended to Marks Spencer for involving more people from the local population or geography that add to the Board of Directors. Marks Spencer need to accept the ideas by the employees (Sullivan Gouldson, 2016). The retail-based company named as Marks Spencer are successfully operating in the sector for more than 125 years from now and believes in absolute market leadership. In doing so, the company even faced several challenges for stipulated time frame. Shares in Marks Spencer have fallen tremendously after UK high street retailer warned that profits likely to take another hit as it pushes through changes to revive its clothing business as well as conditions remains challenging both in Britain and in and across the world (Purvis, 2015). The results of Marks Spencer for the financial year showed nearly at 19% decline in pre-tax profit to 488.8 million on group revenue. The company need to adjust results in real-time users as well as introduced personalized recommendations to its website. The core target demographics of Marks Spencer are mainly from social media users and they do not have 5, 40,000 Facebook as well as 72,000 Twitter followers. Furthermore, Marks Spencer has even integrated social media into its recycling programs in the most appropriate way (Johnson et al., 2013). To that, Marks Spencer faced several difficulties because of different reasons for rapid changing environment or marketplace. The company had formulated strategy by appointing new member in Top Management for meeting major challenges in the current competitive marketplace. The top management of Marks Spencer needs to formulate current strategy for every situation in the best possible ways (Olins, 2017). Firstly, Marks Spencer need to engage in diversification and the competitors are Tesco and Sainsbury. These companies actually offer wide range of products as well as services that starts from selling international calling cards to insurance and banking services. Furthermore, Marks Spencer has very limited products as well as services portfolio and expanding for increasing the revenues (Kiron et al., 2013). Secondly, Marks Spencer need to understand the cultural differences among its customers. With the advent of globalization, consumer of Marks Spencer products and services are the real representative of different cultural backgrounds in the competitive marketplace. Furthermore, the management of Marks Spencer needs to understand the cultural differences at the time of devising the products, services and advertising materials (Johnson et al., 2013). Marks Spencer had filled the gap between fast fashions. The company needs to conduct market research for understanding the needs and preferences of customers. Marks Spencer needs to market the segment in the most appropriate way. The company needs to understand as well as treat each of the stores individually (Johnson et al., 2013). Presently, the management of Marks Spencer needs to formulate strategies for increasing market share in UK by improving activities such as customer attraction and retention at the same time (Hayes, 2014). This particular company had been operating successfully from past decades and enjoys profits for more than 9.7 billion as well as operating profit at 824.9 million. The retail based company enjoys high market share at 11.7% in some of the major sections such as clothing and footwear. Even in food and grocery products, the company enjoys a market share of 3.9%. Marks Spencer need to bring improvement in the online business so that the business transactions can be easily compared with the offline business dealings. The management of Marks Spencer mainly has the tendency to consider significant amount of financial investments for bringing improvements in the e-commerce activities of business transactions in an effective way. The Management of Marks Spencer need to concentrate mainly on aggressive international expansion (Drucker, 2017) Marks Spencer engages its activities in Corporate Social Responsibility aspects of business activities. In that case, active engagement in CSR related activities will help Marks Spencer in various ways (Johnson et al., 2013). In addition, Marks Spencer need to actively participate in CSR related activities especially from non-government organization, private individuals and government organization. Therefore, active engagement needs to be taken by Marks Spencer on CSR related activities for implementing the marketing purpose. Conclusion At the end of the study, it is concluded that the strategy of Marks Spencer meet the suitability criteria based on profit maximization. In addition, the feasibility criteria are other need imposed to the strategy of Marks Spencer that include presence of the resources. The above analysis properly explains the complexity of changes that takes place within the company and its business operations. Change management is not always successful but is a way to improvement and learning and this is the reason why company need to take risk and find ways for further changes in their business operations. Reference List Drucker, P. F. (2017).The Theory of the Business (Harvard Business Review Classics). Harvard Business Press. Hayes, J. (2014).The theory and practice of change management. Palgrave Macmillan. Johnson, G., Whittington, R., Scholes, K., Angwin, D., Regnr, P. (2013).Exploring strategy text cases(Vol. 10). Pearson. Kiron, D., Kruschwitz, N., Reeves, M., Goh, E. (2013). The benefits of sustainability-driven innovation.MIT Sloan Management Review,54(2), 69. Olins, W. (2017).The new guide to identity: How to create and sustain change through managing identity. Routledge. Purvis, M. (2015). Direction and discretion: the roles of centre and branch in the interwar management of Marks and Spencer.History of Retailing and Consumption,1(1), 63-81. Sullivan, R., Gouldson, A. (2016). Comparing the climate change actions, targets and performance of UK and US retailers.Corporate Social Responsibility and Environmental Management,23(3), 129-139. Wilson, J. P. (2015). The triple bottom line: Undertaking an economic, social, and environmental retail sustainability strategy.International Journal of Retail Distribution Management,43(4/5), 432-447.