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Comeptitve Advanatge

In: Business and Management

Submitted By bhole1234
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COMPETITIVE ADVANTAGES THROUGH PROPOSED STRATEGY

1) Strength of Marks and Spencer: Skilled Workforce

PROPOSED INTERNAL STARTEGY: TRAINING AND DEVELOPMENT
Through the proposed internal strategy of training and development, Marks and Spencer will able to enhance the skills and competency of their current staff, which is one of their strength and make them more knowledgeable and skilful in order to differentiate their service from their competitors and such differentiation in their service quality will give them competitive advantage
(Marks and Spencer, 2012)

2) Weakness of Marks and Spencer: High operating Cost

PROPOSED INTERNAL STARTEGY: COST LEADERSHIP STRATEGY
Marks and Spencer operating cost is high, as per their annual report their operating cost for the year 2011 was £2,951.3 m and was up by 3.5 % (excluding bonus) from last year. Such statistics shows that they need to work on their operating cost to control them through cost control strategy, which will be focusing on both types of cost (fixed and Variable). Marks and Spencer will get competitive advantage by executing such strategy as they will be reducing their cost and such saved capital can be used for penetration of some of the products. (Marks and Spencer, 2012)

3) Opportunity for Marks and Spencer: London Olympics 2012

PROPOSED EXTERNAL STARTEGY: SALES PROMOTION
Marks and Spencer can promote their products during the event in a unique way from their competitors; because they have quality in their products they such thing will give competitive advantage over their competitors (Marks and Spencer, 2012)

4) Threat for Marks and Spencer: High Competition
PROPOSED EXTERNAL STARTEGY: JOINT VENTURE
To confront the threat of high competition, Marks and Spencer should go for Joint Venture, which will help company to use business resources of their partner through which they can differentiate their products, service and control the cost through more investment to get competitive advantage over their rivals (Marks and Spencer, 2012)…...

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