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Leadership and Management: Marks & Spencer - Essay Example
Marks & Spencer is among the top retailers of United Kingdom and operates around 350 M&S department stores in addition to more or less 400 Simply Food shops all over the UK. Apart from UK, it has franchises in approximately 40 nations, together with South Korea, China, Russia, India and Indonesia. …
The company as well deals in selling products online and has been in business for over 125 years. Marks & Spencer has been a renowned retailing company and one of the best managed businesses in Europe with respect to its management quality (Spector & McCarthy, 1996, p. 77). In the year 1998, the condition had changed to some extent and the company started to face a drop in its sales, revenues as well as market share. Its formerly celebrated standing has been affected in home and overseas both as the French courts fined it as well as strictly condemned for its approach and activities towards its employees. At this point, Marks & Spencer’s successful administration faced huge issues and collapse within the business, as the problem deal directly with their board.
Marks & Spencer’s history was exemplified by an extensive as well as persistent accomplishment, which initiate a great conviction in the company’s management concept and had generated a culture, which was opposing to transformation. A recent study showed that earlier accomplishment also gave rise to overconfidence, self-importance and a feeling of invincibility. Top order management often undervalued the influence of the outer alterations within the business arena and sometimes question external information as well as studies. Centralized management systems together with intricate as well as officious reporting arrangements not just gave rise to “poor communication but more importantly, the management board became distanced from external environment and the emerging realities of changes in consumer needs, wants and shopping habits” (Bevan, 2007, p. 129).