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Mark & Spencer's Plan A Strategy: Serving Stakeholder Groups Interests - Essay Example

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This essay describes the strategy of the multi-national company, that is Marks&Spencer's and focuses on it's serving stakeholder groups’ interests. The researcher discusses the business and suggests a plan, called Plan A, that promised to attain 100 goals within the five years to 2012…
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Mark & Spencers Plan A Strategy: Serving Stakeholder Groups Interests
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"Mark & Spencer's Plan A Strategy: Serving Stakeholder Groups Interests"

Download file to see previous pages was quite ambitious and was lauded by Greenpeace, WWF, and at least thirty other green associations as one of the most aggressive sustainability plans ever conceived (Richens, 2009; M&S Plan A 2010). Plan A promised to attain 100 goals within the five years to 2012; these goals have been extended in the 2010 version to 180 goals, to be attained by the year 2015 (M&S Plan A website, 2011). There are five pillars that comprise Plan A. These are Climate Change, Waste, Sustainable Raw Materials, Fair Partner, and Health. Under “Climate Change” the company aims to make all UK and Irish operations carbon neutral as of the original target deadline in 2012. This is expected to be accomplished through maximisation of renewable energy in the company’s operations, and using offsetting as a matter of last resort. The firm extends this goal to its customers and suppliers by encouraging and helping them reduce their carbon emissions also. There are 29 stated commitments under this pillar. Under “Waste” the firm seeks to significantly lessen the amount of carrier bags and packaging it currently uses, and is exploring new ways of recycling what it uses. By 2012, it commits to ensure that none of its clothing or packaging is relegated to landfills. Under this pillar, the company has specified 18 commitments. The pillar “Sustainable Raw Materials” aims for the materials the firm uses everyday in its business to come only from the most sustainable sources, whether these materials are used for fresh food or fabric, or construction of its shops. There are 20 commitments specified under this pillar. “Fair Partner” is designated as the fourth pillar of Plan A. Under this component, the international influence of the M&S brand is recognized as a potential asset by which the...
This essay mostly focuses on the description of a successful strategy plan of the Marks&Spencer's company. Plan A is a bold sustainability initiative that had been recognized by numerous international awards since its inception in 2007. The Plan embodies the Company’s five core values of Quality, Value, Service, Innovation and Trust, through its five pillars, namely Climate Change, Waste, Sustainable Raw Materials, Fair Partner, and Health. These pillars have specific targets that must be achieved by the year 2012. Presently a majority of these goals have been achieved or are close to being achieved, prompting the company to set an additional 80 goals in 2010 which are targeted for a deadline in 2015. There are several goals that have presented challenges to the company, due to changes in legislation, technological difficulties, and problems that have been unresolved at present. Nevertheless, the fulfilment of at least majority of these goals would still be highly beneficial to the stakeholders of the company in the sense that the company will still succeed in its ambition to be the most sustainable company by the year 2015. Customers, suppliers, and the general community will be net beneficiaries of Plan A, while there is a possibility for shareholders to suffer a net disadvantage in the near future due to the costs of attaining sustainability. Nevertheless, to conclude, the researcher states that the company and its investors may well attain substantial wealth creation in the long term. ...Download file to see next pagesRead More
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