Mark And Spencer
Mark and Spencer was established by Michael Marks and Thomas Spencer in the year of 1894 and after that company goes through some economic instability but in recent times it is one of a giant retailer primarily operates their business from UK. However, the company have more than eight hundred stores in different regions globally. Globalization is another significant factor that helps the company to expand their target market area around the world and with the help of modern and advanced technology such as e-commerce the online trading is innovatively done by the company. It is imperative to have an innovative strategy that will help to deliver the reliable products to the customer at the right time. Simultaneously, that strategy will help in achieving the customers' satisfaction and for this particular purpose the company has implemented the ediTRACK system that provides immense significance on supply chain system. The environmental impacts are innovatively reduced by the company that help in establishing a unique identity in our community and in recent times it comes under the category of environmental friendly retailer around the world. The effective leadership strategies and innovative management structure helps the company to expand their business globally and the need and requirements of the customers are fulfilled by the company. The human resource management department provides an enormous contribution to understand the needs of customers by conducting customer feedback survey. Human resource is one of the most imperative components of the company that must be analysed properly by the organization to enhance the overall performance of the company as well as to generate desired revenue from the market. Performance engagement is conducted by the company by providing adequate training and development program for the employees. Market orientation is one of the most critical factors that are conducted innovatively by the company and for this particular purpose long-term relationship building strategy is implemented by the company to retain the customers in this competitive market. The research and development department provided enormous effort to improve the product quality because in these current times the selection of products by the customers is highly dependent upon the quality. Market segmentation is another factor that provides benefits to the customers as well as to the company because it helps in providing the reliable product to the customer as per their requirement. The wide range of products helps in targeting several groups of customers and hence the company is able to generate the desired revenue from the target markets.