s seems hard to justify for a company that is losing market share and sales on the scale unveiled recently. Marks & Spencer continues to enjoy a premium rating - albeit not as big as the one it had - but there is no sign of the renewed sales growth needed to back it up. As market industry analysts agree, it may well be that things are destined to get still worse before they get better (Anonymous 21).FUTURE STRATEGY FOR MARK AND SPENCER COMPANY Mark & Spencer's future strategy includes the launch of a fundamental review of its entire business in an attempt to position the company for the next several years. For the first time ever, Marks & Spencer is to bring in several different firms of management consultants in order to advise on such issues as organization and structure, merchandise, its international development and examine where its stores should be based (Rankine PG). David Norgrove, the Divisional director, has been appointed to head a newly- established business strategy unit. This new unit will be responsible for the lengthy strategic review. The outcome of the review is expected within a year to 18 months (Rankine PG). According to Marks & Spencer spokesmans, who declined to comment on which management consultants will be brought into its Baker Street head office, they said they were unable to determine how much money would be spent employing consultants (Rankine PG). "We have launched a fundamental review of what our business is and where it is going," said the spokesman. "We shall look at all aspects of the business and a range of consultants will and have been brought in" (Rankine PG). Part of the review will also look at whether the company should split Sir Richard Greenbury's role as chairman and chief executive. As a matter of fact, Marks & Spencer was forced to issue a statement saying that its board was unaminous in its decision to ask Sir Richard, who will is now 62, to remain as chairman until he is 65. The ...
