Marks and Spencer 2013 Annual Report Download - page 9

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Overview Marks and Spencer Group plc
Overview Strategic review Financial review Governance Financial statements and other information
Annual report and financial statements 2013 07
How our business operates
Over the last 129 years M&S has grown from a single market stall to become an
international multi-channel retailer. We now operate in over 50 territories
worldwide and employ almost 82,000 people. Remaining true to our founding
values of Quality, Value, Service, Innovation and Trust, we work hard to ensure
our offer continues to be relevant to our customers. Through diversifying our
store locations, channels and product ranges we are reducing our dependence
on the UK and broadening our international focus.
In touch
Customers are at the heart of our
business and through our Customer
Insight Unit, we ensure their needs
inform every aspect of our decision-
making. Through a combination of
customer feedback, focus groups and
consumer research we are in touch with
over 17,000 customers every month,
helping us anticipate their needs.
What we offer
Our heritage of innovation helps us lead
the way with first-to-market products
across food, fashion and homeware. We
are the UK’s leading clothing retailer and
offer high-quality food, with a focus on
freshness, convenience and speciality.
Our own-brand model sets us apart and
we further differentiate our offer through
exclusive collaborations.
Reaching our customers
Our products are sold through 766 UK and
418 international stores – in diverse
locations across high streets and out of
town retail parks. Our Simply Food
franchise partnerships ensure we are in the
most convenient locations – from railway
stations to motorway services. As
shopping habits change, we’re combining
the best of web and store to extend our
reach and drive more spend from
customers. In-store technologies help
customers shop more of our catalogue
and our newly-created app enables
browsing and buying for shoppers on the
move – making M&S available 24/7.
Investing in our people
We communicate with our people
throughout the year via a range of
channels and measure employee
How we sellWhere we sell
Plan A – How we do business
Our channels
– Stores
– Online
– Mobile site
– In store ordering
– Telephone
– Home catalogue
Our locations
– Major shopping
centres
– High streets
– Retail parks
– Railway stations
– Airports
– Petrol and service
stations
– 24/7 online
Customer engagement and sales
Our products
M&S business model
Our values
InnovationService TrustValueQuality
Supplier
relationships
Innovative ways
of working
Financial
& strategic
planning
Supply chain &
logistics
Our people
Our culture
Customers’
insight
Food
Home
Clothing
engagement quarterly. All our training and
support activities are closely linked to our
business plans; from improving employee
skills and product knowledge to the
development of future leaders for M&S.
Innovative ways of working
Ongoing improvements to our operations
are making us more efficient. Our
restructured supply chain has improved
our stock management and availability
and our e-commerce distribution centre
and new IT platform will strengthen our
ability to deliver growth. The creation of a
long-term sustainable business model
for M&S through Plan A lies at the heart
of the way we work.
Managing risk
Effective risk management is essential
to the achievement of our strategic
objectives – and a key consideration in
our Board’s deliberations. In evaluating
risk, we consider external competitor and
economic factors, our core day-to-day
operations, business change activity and
potential future risks. Mitigating activities
to address these are detailed in the
Accountability section of this report.