Marks and Spencers Corporate Identity
The explanations included in the specific section of the corporate website I came to the conclusion that the success of the firm is based on specific policies: the continuous update of the firm’s products and services, i.e. the enforcement of innovation throughout the organization, the development of the firm’s presence in the global market and the increase of the firm’s property portfolio (Marks and Spencer, corporate website, 2010). As for the performance of the firm’s strategic plans, this seems to be satisfactory leading to the further development of the firm’s activities – my view on this issue is based on the relevant statements of the firm’s managers. Indeed, in the corporate website – section referring to the firm’s – it is clearly mentioned that the firm’s current strategic plans focus on the following targets: ‘Increasing the pace of change and operational execution in the business. leveraging MS Direct by building more channels to market. building our international portfolio to grow our global customer base. and reinvigorating our brand communications’ (Marks and Spencer, corporate website, 2010). Using the firm’s financial results and the reports that have been published regarding the performance of Marks and Spencer in the British and the international market I’ve come to the conclusion that the firm has managed to achieve the targets set in its mission statement applying its Core Values (as included in its mission statement but also its Code of Ethics). However, I’ve noticed that there is no specific provision for the global recession. Despite the fact that a series of plans are presented for the development of the firm’s performance in general, it is not explained whether the firm’s policies have been affected by the current financial crisis or whether they are going to be alternated in the near future in order for the firm’s resistance to the global recession to be increased. I would like to refer – briefly –to the reports and the figures on which my views in regard to the firm’s mission statement are based.