Garment industry in UK has been fashion oriented since centuries and customer are more inclined towards innovativeness in fashion. M&S has capture attention of its customers by offering up to mark products and by introducing fashion oriented dresses. The management at M&S has made its strategies effective for keeping customers happy in long run. The company has been managed under suitable leadership styles which has helped workers to brainstorm their minds for generation of new and appealing ideas. The report explores the factors behind the success of M&S including its leadership style, strategic management and technological regime of the company.
The garment and fashion industry has been progressing since last few decades. Many suppliers and fashion designing companies have made entry in market with innovative ideas. During London Fashion Week Natalie Massenet, Chairman of the British Fashion Council, declared upgraded figures indicating significant development in the UK fashion industry in the course of recent years. The immediate estimation of the UK fashion industry to the UK economy is £26 billion; up from £21 billion in 2009. Demonstrating an expansion of 22% in ostensible terms. The UK style industry is assessed to bolster 797,000 employments (Oxford Economics 2014). This is a diminishing of 2.3% from 2009
The employee figures have dropped by and large the expanded commitment to UK GVA reflects higher efficiency inside of the fashion segment. The British Fashion Council is focused on supporting development in the segment which it trusts will prompt more vocation open doors. Fashion’s aggregate commitment to the economy by means of both roundabout backing for production network businesses and actuated spending of worker’s compensation salary is assessed to have ascended to over £46 billion. An expansion of 23% since 2009.
Fashion marketing incorporates the greater part of the exercises included from considering an item to coordinating the stream of products from maker to a definitive client. Exercises of advertising incorporate item improvement, valuing, advancement, and circulation. A fashion retailer or producer is to make a benefit.
For a long time, fashion producers were concerned just with what was practical and simple for them to create. They would invest significant energy and finance to persuade the customer that what they created was what the purchaser needed (Oxford Economics, 2016). The fashion maker had next to zero enthusiasm for the necessities and needs of the buyer. Nonetheless, marketing demonstrated so fruitful in the development of customer products, for example, wellbeing and excellence helps that it was in the end received by the fashion organizations. Under the exemplary meaning of advertising, the key errand of the company is to decide the necessities and needs of target markets. The fashion companies has to adjust the company to convey the sought fulfillments adequately and productively to a definitive client.
In the mid-2000s, innovation has been a main consideration in fashioning makers and retailers to effectively fulfill the necessities and needs of the focused on client. This outcomes in the sort of fit already accessible just to couture clients. As innovation keeps on enhancing and turn out to be less excessive, filtering of the whole body will turn out to be more normal, bringing about the sort of fit already accessible just in costly made-to-gauge fashion items.
The improvement of fashion advertising and marketing as unmistakable callings with their own particular ability, bits of knowledge, and methods, has made them the foundation of the cutting edge universe of style (MarK & Spencer, 2016). The utilization of advanced marketing and marketing strategies and procedures has offered ascend to probably the most energizing and inventive techniques.
One of the best-known United Kingdom chain stores offering its own-image stock, Marks and Spencer (M&S) made a significant commitment to the democratization of style in the twentieth century which is the procurement of aggressively valued, quality garments.
Prior to a downturn in the organization’s benefits toward the end of the 1990s, M&S’s offer of the U.K. apparel market remained at 14.3 percent with a turnover of £8.2 billion and almost 300 stores in Britain alone. Mark and Spencer turned into a commonly recognized name, the UK, and later globally (Stone, 2016). For this situation study, we take a gander at the applicable issues encompassing this decrease and the activity to turn this issue around. The subjects that will be talked about incorporate the business environment, asset and capability investigation, vital authority, society, key choices, overseeing change, and the eventual fate of Marks and Spencer.
The organizational structure of Mark & Spencer has changed during past few years from divisional to flat organizational structure. Due to delayering of authority, the decision making capacity has been decentralized. Line manager of each department can take decisions on his own. It has helped in improvement for quick decision making and effective functioning of employees. This way supervisors and line managers have started acting in a more responsible way. Managers and employees are accountable for their performance due to definite allocation of task to employees according to their skills and expertise (Christopher, 2011). The specialists have been assigned as team leaders which has helped in effective functioning of each department under supervision and check of concerned and charismatic group leaders. The number of employees currently working at M&S is 60,000 all over the world, flat organizational structure has helped in proper allocation of duties among such huge lot of employees. The purchase, finance, audit and HR management departments have been assigned senior, assistant and line managers.
The advantage and disadvantages of flat organizational structure at M&S are
Advantages of flat structures
- Greater correspondence
- Better camaraderie
- People feel more included and can tackle more obligation
- Less organization and less demanding choice making
- Lower costs
Disadvantages of flat structures
- Employees might have ‘lattice administration’, with more than one manager.
- Decisions can get stuck as a consequence of counseling with numerous individuals.
- Limited to small organizations but favorable for M&S as it is a big organization.
- The capacity of every division gets obscured as parts consolidation.
Management is the procedure of impacting a company in its endeavors towards accomplishing a point or objective. A leader is a person who is in a position to have impact on worker’s motivational level and way of working. A key leader is characterized as a person upon whom procedure improvement and changes are seen to be subordinate (Worth, 2016). Leaders at M&s are related to the company and are likewise integral to the system of the company. Regarding change management, it is found that the management of progress at M&S is specifically connected to the part of suitable leadership style. The leader assumes a fundamental part in this procedure. The instance of Marks and Spencer spins fundamentally on the management of progress and consequently concentrating on how initiative influenced this procedure is essential.
Marks and Spencer was established by Michael Marks and after that along these lines keep running by his child Simon Marks. For a long time from there on the business was seen to be to a great extent a family company (Swannell, 2016). In a family contracted business the system of a company is typically related all the more typically with an individual such as the author.
Mark was succeeded by Richard Greenbury. Greenbury had taken after a comparable management style to Marks and his initiative displayed concentrated power. A hefty portion of the directors were really frightened of him. Rather than concentrating on long term technique, the main concern of leadership was on the everyday operations of the company. Greenbury might be viewed as a despotic leader when we take a gander at the methodologies he took after. Later when it was realized that the company was not doing well, M&S owners changed the core leadership style and a democratic leadership style is adopted (MarK & Spencer, 2016). This leadership style motivated workers to solve problems by their own abilities and their efforts are duly acknowledged and rewarded. It also helped company to make fruitful decisions by inviting line workers to share their ideas for effective operations of company for maximum satisfaction of customers.
Mark and Spencer’s aim is to continue expanding on their essential qualities, of making optimistic quality available to customers. In this event one of the arrangement centered their endeavors on the heart of their business, the basic aim of company is to address the future development of the organization. The organization must recapture their initiative, expand on their customer relations and above all reassert their position as a main socially capable business by maintaining its competitive advantage in market. The company has always been striving for higher quality products which has helped it to maintain its competitive advantage in market. The technological regime, strategic and HR management and leadership style at M&S are core reasons behind the success of the company.
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Oxford Economics, (2016). [online] Available at: https://www.fashionunited.co.uk/facts-and-figures-in-the-uk-fashion-industry [Accessed 22 Feb. 2016].
Stone, E. (2016). Fashion Marketing and Merchandising. [online] LoveToKnow. Available at: http://fashion-history.lovetoknow.com/fashion-clothing-industry/fashion-marketing-merchandising [Accessed 22 Feb. 2016].
Swannell, R. (2016). Our Leadership Team. [online] Corporate.marksandspencer.com. Available at: http://corporate.marksandspencer.com/aboutus/our-leadership-team [Accessed 22 Feb. 2016].
Worth, R. (2016). Marks & Spencer. [online] LoveToKnow. Available at: http://fashion-history.lovetoknow.com/fashion-clothing-industry/marks-spencer [Accessed 22 Feb. 2016].
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Prepared by: Amna Abbasi