I will talk about functional areas of M&S and KFH. through Comparison and contrast of how they contribute and operate their functions, as will as the structures, also my task is, to evaluate the benefit and disadvantages of their functions, finally, try to explain my opinion about how well the two companies run there business.
In 1884-1907 Michael Marks formed a partnership with Tom Spencer,in 1908-1931 The St Michael trademark was registered, in 1956-1979 The first stores in Continental Europe opened in Paris and Brussels, in 1980-2001 launched the first website
M&S are one of the UK's leading retailers of clothes, food, home products and financial services. Some 10 million people shop with us each week in over 375 stores. In addition M&S have 155 stores managed under franchise in 28 territories mostly in Europe, the Middle East, Asia and the Far East, stores in the Republic of Ireland, nine wholly owned stores in Hong Kong and M&S own the US supermarket group, Kings Super Markets. The main objectives of marks and Spencer's are as follows:
Profit maximization
Increase sales
Market leadership
Offering high quality service
Growth
Reward shareholders
Mark and Spencer International retail and franchise businesses have operated 125 franchise stores in 26 countries. The turnover in Europe was increased this year 2000 2001compared to last year 1999/2000. The turn over in North America (exc. Canada) has also increased compared to last year. In the Far East sales had also increased by approximately 4% to 110.1 million compared from last 105.9 million. So marks and Spencer business internationally is very successful compared to its UK retail business....
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... a tall rank of productivity and efficiency.
In our opinion any organization wishes to carry on sharing piece of market and as market leadership, it have to ensure the efficient working of its business functions, if not they obsolete will be out of competitive cycle.
Understanding business function B202, Block 1,2,6
Understanding business behavior, Organization book
Kristensen, K (1992) Customer satisfaction and business performance
Maxwell,R.J (1984) Quality assessment
Oakland,J (2000) TQM
Otely, D (2002) Measuring performance
www.markspencer.com
www.KFH.com
KOTLER, Philip (2000), Marketing Management, The Millennium Edition, International Edition, Tenth Edition, Prentice Hall.
o Quelch, J. A. & Klein, L.R (1996). The Internet and international marketing'. Sloan
o www.academicdb.com
Marshall Fields & Company was started in 1881, which moved to starting Dayton Dry Goods Store into the Dayton Co. The Dayton Co. enters into to the world of discount merchandising starting the first Target. Targets grew all over the United States.
In terms of financial performance both companies have performed well. This brief review will focus on the financial performance such as profitability, solvency and liquidity.
This report comprises of the explanation of two different companies working in different market fields, the two companies I’ve chosen are Primark and Samsung I am going to write about the influence of the 4vs which are the volume of output, variation in demand for output, visibility of production, and variety of output. I am also going to look at the performance objectives in each of the companies. Example, for a given year and how they are able to reach their objectives, and also the effect on the cost efficiency of the operations.
According to the annual report of Mark& Spencer, they has been set up 776 stores in the Uk and aim to keep selling high quality ,great value food and staying ahead in womenswear, lingerie and menswear. Moreover, M&S has attributed the high level of trust on the high street, and has also concentrated on ensuring their corporate governance is meaningful, relevant and underpin their decision-marking with high quality in all areas of strategy, performance, responsibility and accountability. Their collective and individual performance review is constructed by honest and constructive feedback to make the border play the biggest role in the boardrom. The goverance framework is also published on their website. Therefore, M&S's shareholders and stakeholders can easily find what standards the board of M&S set for themself.
This would pull the company together strengthening it in the face of incoming competition while keeping all its existing structure and value system intact. Rather than take away responsibility from the employees, the functional specialists together with the functional operators’ level would introduce dynamic measures of collecting and coordinating operations across the whole company and thus, not only giving direction but keeping everybody well informed about market conditions/trends and company focussed and prepared for future changes. Teams will then be able to take better decisions in view of the overall company’s short and long- run strategy. Knowing that the company is stable and well prepared for future contingencies boosts the employees’ and shareholders’ confidence.
So, there should be an efficient and optimum use of resources with the modernised techniques that provide them competitive advantage over the competitors and make them an efficient organization.
Focusing on the benefits to the business organisation, this is a very important concept for them to gain their maximum potential profits and the success of the business as a whole.
Target is the second leading discount store in the United States, which makes looking at market structure easy to identify. In this case Target would be considered a perfect competition market structure due to several factors. This type of marketing structure also helps to explain the financial performance that Target has and how it is able to maintain its position among the U.S.’s discount stores. By understanding more about market structure, we are able to understand how companies, such as Target, are able to be so successful.
The major issues facing the company comprises of there being multiple businesses with different demands. There are separate levels of performance and success as well as growth chances for each of the sector and the firm needs to tackle with issues in each of these divisions (Dube, J.P., 2004).
Hennes & Mauritz (H&M) is a Swedish clothing retail company. The company was founded by Erling Pesson in 1947. The first H&M store was opened in Vaesteras, Sweden in 1947. The mission of H&M is to offer fashion and quality at the best price where “quality includes ensuring that products are manufactured in a way that is environmentally and socially sustainable” (H&M, vision & policy, n.d., para. 1). This essay is to highlight the current market analysis, pricing strategy, retail strategy, and competitive advantage analysis of the company.
The company that we have chosen as for our report purpose is M.M Enterprise Cash and Carry which is a retail store that provides household goods that is mainly imported from India and other countries for its customers. The store was established in the year 1989; in the past 26 years the retail store had gone through its tough times and as the years has passed the store has progressed well. According to the owner of the retail store, Mr. Mahendran mentioned that it had taken him about 10 years for the company to go through a full swing experience and effort in order the company to progress and currently the company is slowly in the midst of progress. As per our observation that is made, the company has focused on the Indian market
The Scotts Company started selling hardware and seeds in Marysville, Ohio in 1868. It specializes in seeds, fertilizers, peat, potting soils and other organic materials. By 1995, Scotts was the world’s #1 marketer of lawn and garden products. European operations were launched in 1993, with HQ in Lyon, France, and additional five European businesses acquired in UK, France, Germany, Austria and Benelux.
The food and staples retailing is an increasingly competitive industry. The market giants (competitors) are Coles (owned by Wesfarmers) which has 741 stores across Australia and plans to add 70 m...
Over recent years companies have become less dependent on paper and more dependent on technology. Take American Honda Motors for example; the Davenport Parts facility recently converted computer systems to more efficiently manage its inventory. Prior to its new system months of preparation was needed in order to ensure a smooth change over. Without the four basic functions of management all working together success would not have been possible.
It is one of the largest hypermarket chains in the world, the second largest retail group in the world in terms of revenue, and the third in profit.