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Analysis of Marks and Spencer - The paper is based on the notion that change is context-specific; there is no off-the-shelf package that can be successfully applied to all change situations.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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Introduction: Marks & Spencer (M&S) started as a stall in 1884 by Michael Marks in the Leads market using a L5 loan from a wholesaler. One hundred years on and M&S becomes a leading United Kingdom-based retailer of clothing, foods and housewares, and provider of financial services. The company operates over 300 stores in the United Kingdom, with approximately 12.5million square feet of selling space, serving 10 million customers a week. In 1988, Richard (Rick) Greenbury was appointed to the post of CEO and then to that of executive chairman, having risen through the ranks at Marks & Spencer's. Greenbury successfully piloted the company through the recession of the early 1990s. In May 1997, M&S.s profits exceeded £1billion for the first time in its history and the share price peaked at 672.50p/share (Figure 1). Having turned in record profits for 1998 and accelerated its global expansion plans, things suddenly went horribly wrong for...
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