Balanced Scorecard and strategy map for Marks Spencer Free Essay Example, 2750 words

The study will be contrasting the vision and strategy of the company along with the internal business process, customer, innovation & learning and financial performance of the company. 2. Vision and Strategy of the Company 2.1 Vision Marks & Spencer is operating the multinational retail industry having the competitors like Tesco, ASDA, Sainsbury, Walmart and many other global retail firms. They are planning to gain more future sustainability and market growth by developing their product or operational line. The organisation is having the vision of transforming the operational infrastructure. From the year 2012-2013 they started focusing on developing their image as the leading international retailer and multi-channel service. They are also aiming to reinforce capabilities as priorities so that they can meet the requirement of UK and international market (Corporate. marksandspencer. com, 2015a). Marks & Spencer is planning to increase the rate of growth in the food ranges. Operating model of the organisation is aiming to drive best possible customer experience. They are planning to develop more features in the M&S. com. Moreover, management of the organisation have the vision o developing high skilled human resource. We will write a custom essay sample on Balanced Scorecard and strategy map for Marks & Spencer or any topic specifically for you Only $17.96 $11.86/pageorder now Management level is aiming to use global talent base, such talent base is enjoying continuous skill development process. Retailers have faced huge change in the UK food market which challenges their profit generation and sustainability. Marks & Spencer is offering their customers with lucrative and multipurpose store format which helps in meeting various shopping behaviour (Corporate. marksandspencer. com, 2015c). 2.2 Strategy Marks & Spencer is facing the huge challenges in their major products clothing and home markets. The market has reported highly competitive with existence of Next Plc, Tesco, ASDA and Zara. The organisation is planning to develop proper strategies that will bring growth in profitability and market share. Strategic directions of the firm are focusing on fashionable design, high quality and unique identity (Blandon, Henson and Cranfield, 2009). Moreover, during the year 2014 management of Marks & Spencer are seeking for easy availability along with diversified choice (Corporate. marksandspencer. com, 2015b). It has been observed that global business policies of Marks & Spencer are facing various economic and social challenges. Feeble currency exchange rate of euro, pound and dollar and macroeconomic factors like inflation and recession are harming the Marks & Spencer in achieving proper financial stability.