Mark and Spencer Strategy Essay Example | Topics and Well Written Essays - 2250 words

Mark and Spencer Strategy - Essay Example According to the paper findings in order to get deeper understandings of the external factors affecting the company’s operations including trends and environmental issues. The PESTLE analysis is used to analyse the business market and establish the potential external issues affecting the business in the political, economic, social, technological, legal and environmental circles.From this essay it is clear the political set up in the business environment affects the consumers’ buying power and the regulations governing the entity. It is therefore important for Marks Spencer to take into account certain political issues before introducing a give business strategy. The company is based in the UK whose political environment is relatively stable. In addition to, the tax and labor systems in the country have been regarded as the most attractive in the developed world.  The UK economy is ranked as being the fourth largest in the world and it is viewed to be an open economy. It is further characterised by well managed fiscal and monetary policies with full financial government support and low inflation rates. The company should consider any short- term and long- term issues affecting its operations before implementing any strategy. The socio- cultural factors affecting entities differ across countries. Being an international company, Marks & Spencer has spread its operations across the globe. The management needs to address this issue by looking at some of the factors affecting the consumers’ attitudes, tastes and preferences in local and foreign markets.  ... In addition to, the tax and labor systems in the country have been regarded as the most attractive in the developed world.   Economic Factors The UK economy is ranked as being the fourth largest in the world and it is viewed to be an open economy. It is further characterised by well managed fiscal and monetary policies with full financial government support and low inflation rates. The company should consider any short- term and long- term issues affecting its operations before implementing any strategy (Left, 2001). The company is advised to invest more in the clothing industry as the young people are more likely to spend their disposable income on clothing. Social Factors The socio- cultural factors affecting entities differ across countries. Being an international company, Marks & Spencer has spread its operations across the globe (Rayner, 2008). The management needs to address this issue by looking at some of the factors affecting the consumers’ attitudes, tastes and pre ferences in local and foreign markets. Taking these aspects into consideration ensures that they meet the needs of the organisation. Technological Factors Technology is an important factor since it gives a company competitive advantage over its competitors in the global market. Marks & Spencer competitors are argued to be more developed in the application of technology (Rayner, 2008). This can be observed from the fact that the company introduced online shopping and loyalty cards after their major competitors. This can have an adverse impact on the entity’s competitive position and it’s a high time the company started using the latest technology in their sales and production process. Legal Factors The legal environment in the UK is favourable