Established in 1894, Marks and Spencer is one of the leading retailers in Britain. The company is not just about clothes but also food products, home products, property & construction, and more. With an experience of more than a century, the company has been able to establish itself as a trusted name in the UK and other parts of the world. The journey of Marks and Spencer from Penny Bazaar to the global multichannel retailer is quite inspirational.
The company started as a joint venture in the late 19th century. However, in 1926, it established its first textile manufacturing unit and started selling garments across the UK. In 1970, Marks and Spencer expanded to other countries. The expansion also took place in terms of their product range and stores.
The company operates in 60+ countries other than the UK, has over 75000 employees with more than 1500 stores operating globally.
The company has many brands like Ghost X, Elle junior, Seasalt Cornwall, and Sosandar. Through its partnership with Ocado in September 2020, the company has made its products available online whether it is a wide variety of food products, clothing, or home products customers.
It also relaunched its Sparks loyalty program with a personalized experience and has received a great response. The company is also expanding into its international market and has launched over 45 websites targeting 100+ countries and millions of global customers.
The M&S Mission Statement reveals that the company strives to make high-quality products. The company aims to inspire the customer, provide them with the best quality products while ensuring complete value for money.
The mission statement talks about creating a future where everyone can have quality products like apparel, foods, home products, and others. They want to establish a global community where everyone can avail the products with ease. The company also has a Plan A in place that talks about a sustainable future and working for communities and the planet.
The company’s vision clearly defines the company’s aspiration to establish itself as a company where everything can be quantified easily, from customer experience to employee satisfaction. Moreover, Marks & Spencer believes in working towards the betterment of society and focusing on innovation and integrity.
M&S Mission Statement
M&S Mission statement follows as “To make aspirational quality accessible to everyone, through the depth and range of its products”.
M&S Mission Statement outlines that the company wants to sell quality products worldwide and at the same time aims to diversify its offerings. So, quality, globalization, and diversification are important objectives of Marks & Spencer. This is why they ventured into multiple brands under different categories.
After analyzing M&S Mission Statement, the following messages have come forth:
Quality is paramount
Marks & Spencer’s main mission is to make people aware of the importance of using quality products. The company strives to provide the best quality products to its customers, and it has adopted different policies to create and launch products for making lives better across the globe.
Diversifying their brands and product range
Marks & Spencer has always believed in providing the best to their customers. To ensure this, the company has invested in diversifying its products range and innovating the product lines to meet the variegated demand of the customers. And Marks & Spencer’s mission statement hints the same.
Value for money
Since the company wants to create products for all, its objective is to offer value for money so that people would want to buy their products Speaking with media recently, Chairman Archie Norman said: “We think of ourselves as a value for money business, not a low-price business.” Marks & Spencer is aiming to appeal to families to become a “value-at-heart” retailer. It is also aiming at transformation and digital-first business.
Creating a harmonious global community
It is the mission of the founding fathers of Marks & Spencer to create a global community where everyone will live and collaborate harmoniously. This is why they have taken varied decisions to ensure that everyone’s desires can be fulfilled easily.
Marks & Spencer’s vision statement is “To provide a standard against which its competitors may be measured, from customer experience to care for the environment and community and to the working environment for employees.”
The vision statement proves that the company heads want to reach the zenith of success by ensuring the best customer experience that can become a benchmark for others. They aim to create a harmonious environment where they can excel in every field to measure the competition level and choose the winners in the respective industry niches. To come out of the slump, the company wants “to be Britain’s fastest-changing retailer.”
Following are the messages that could be understood from Marks & Spencer’s vision statement:
Maintain high standards: Marks & Spencer’s vision statement states that the company wants to attain and sustain optimum standards in its offerings so that they act as a benchmark in the market. They want to take Marks & Spencer to a new height, where the company will be recognized for the quality products and different brand categories.
Beat the competition: Their main vision is to outshine and outsmart their competitors and to ensure that their customers, employees, and stakeholders’ trust is not shaken in any way. The company believes that despite the losses, they can emerge victorious through ‘great colleagues’ and a winning attitude.
Care for employees: The company aims to have an engaging workplace where employees work in a positive and involving environment. The company wants to have a work culture where it listens to its people and empowers them to eventually hire the best workers who can help them revive the culture where ‘customer is the king.’
Care for Customers: Marks & Spencer has always considered their customers the main reason behind their success and high global reputation. This is why they have adopted the vision of maintaining and improving the customer experience with their services and product ranges.
Sustainable Planet and Community: The company has a Plan A in place that talks about building a sustainable planet and the overall well-being of the communities. The company works very actively in various spheres to execute its Plan A. Some of its initiatives are focused on protecting forests, animal welfare, reducing plastic use, reducing carbon emissions, following better cotton initiative, tackling food waste through redistribution of surplus food, using recyclable packaging and sustainable clothes, following inclusive culture, etc.
M&S Core Values
Marks and Spencer ensures a seamless flow of trust and transparency in the system that forms the underpinning of the organization. Through the following core values, the company is aiming to succeed once again.
- Integrity: The company is committed to doing ethical business and follows the principles of integrity that are reflected in its dealings. Also, the company believes in treating everyone from colleagues to customers with respect.
- Innovation: From designs and materials to technology, sustainability, processes, and operations, you can see innovations in every sphere at Marks and Spencer.
- Trust: Keeping everyone (customers, suppliers, stakeholders, and employees) together and maintaining transparency forms Marks and Spencer’s DNA has been a key reason for its success.
- Willingness to change: The company is open about its mistakes and ready to act with conviction after its corporate learnings. It aims to become an engaging, fast-moving, and empowered organization.
Headquarters. London, England, UK.