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Marks and speners - Essay Example

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The organisation was first set up by Michael Marks who was originally from Poland and later, Thomas Spencer invested upon the initiatives of Marks and jointly…
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Marks and speners
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Marks and speners

Download file to see previous pages... Michael’ brand. The company primarily focused on quality and had lucrative refund policy. It opted for international expansion in the seventh decade of the 20th century. Today, the company has almost 900 stores in more than 40 countries across the globe and is listed in the London Stock Exchange as it forms the integral part of the FTSE 100 (Marks and Spencer, n.d.).
The Marks and Spencer initiated five year long planning in the January of 2007 to address the environmental and social issues. The company named it ‘Plan A’. It was so because the company wanted to make it stake holders believe that there is no such second plan. The plan primarily focuses upon five themes namely waste management, fair partnership, health of the employees, change in climate and sustainable raw materials (BBC, 2007).
The primary ‘Plan A’ that was drawn in the year of 2007 aimed to make the company carbon neutral by the year of 2012. Also, Plan A said that the retail chain would not send any waste for filling the land and would use sustainable sourcing by the end of 2012. The second phase of Plan A was drawn in the year of 2010. The second phase predominantly aimed to make Marks and Spencer; the most sustainable retail chain by the end of 2015. Also, it expects that the company would have 3 million customers who could be getting involved within the periphery of Plan A by 2020 (Marks and Spencer, n.d.).
The core business of the Marks and Spencer has been that of womenswear, menswear, lingerie, food and home. The total revenue of Marks and Spencer for the financial year of 2008 – 2009 and 2007 – 2008 has been almost same, the first one exceeding the later by £ 40 million. But the profitability of the company has taken a major hit in the year of 2008- 2009. According to the latest annual report of Marks and Spencer, it can be observed that the profit in the financial year of 2008 – 2009 has been £ 506.8 million while the same was £ 821 ...Download file to see next pagesRead More
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