Marks and Spencer

Paper Summary:

This paper examines Marks and Spencer, one of the oldest retail chains in the U.K. Established in 1884, it now boasts over 450 stores located throughout the U.K. In particular, the paper explores four different cost accounting methods and examines their benefits and limitations in relation to the operation of Marks and Spencer, including qualitative and quantitative methods.

Outline:
Company Background
Most Important Managerial Factors
Four Cost Accounting Methods and Their Application

From the Paper:

"The Marks and Spencer brand is associated with quality. They have an established customer base in the high-end retail market. Their competitive strategy is based on promoting environmental responsibility and assuring customers that their products are produced in an ethical manner (Marks and Spencer, Look Behind the Label, 2007). They are completely upfront about their environmental and ethical policies. Their branding and competitive edge is based on social responsibility and sound environmental practices, such as purchasing Fair Trade coffee, cruelty free animal products, and using no Genetically Modified products in their foods. Their clientele is upper class, highly educated, concerned about quality and the environment. This differentiates them from competitors and gives them a considerable market advantage. "

Sample of Sources Used:

• Annual Report. 2006. Clothing and Home. Retrieved January 22, 2007 from http://www2.marksandspencer.com/thecompany/investorrelations/downloads/2006/clothing_home.pdf.
• Guardian Unlimited. 2001. Marks & Spencer lays off 4,390 staff. March 29, 2001. Retrieved January 22, 2007 from http://business.guardian.co.uk/story/0,,464967,00.html
• Marks and Spencer. 2007. Latest News. January 9, 2007. Retrieved January 23, 2007 from http://www2.marksandspencer.com/thecompany/
• Marks and Spencer . 2007. Look Behind the Label. January 9, 2007. Retrieved January 23, 2007 from http://www2.marksandspencer.com/thecompany/trustyour_mands/index.shtml
• McCue, A. 2003. Marks & Spencer starts tracking tag trial. October 16, 2003. Retrieved January 22, 1997 from http://www.silicon.com/management/smedirector/0,39024679,10006439,00.htm

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