Strategic Management with Reference to a Real Life Example

Abstract

Compared to the past, survival in this highly competitive global village is much more dzflcult for any organisations now-a-days. Formulation and implementation of realistic, flexible andsustainable strategy can contribute a lot to the survival as well as the development of an organisation. In fact strategy is the mechanism to reach a long term goal. it can take place at various levels i.e. corporate, business etc. An effective strategy must accommodate various issues such as technology, finance, marketing, customers' choice and so on. Marks & Spencec an internationally renowned business entity has become an example of formulating and implementing strategies successfully and thus reversing its decaying market share. In this article, firstly, attempts will be made to critically analyse the various issues relating to strategic management. In the secondpart those issues will be elaborated in light of the strategies applied by Marks & Spencer that led to the regaining of their shrinking market share.