Managing for Competative Advantage Assignment Example | Topics and Well Written Essays - 2500 words

Managing for Competative Advantage - Assignment Example The review also includes an evaluation of the performance of both the management teams through financial and non-financial parameters, and finally gauges the true competitive position of M&S in the market. . Myners and Rose assumed control of the company's leadership by replacing the team of Vandevelde and Holmes. There seem to be significant distinction in the approaches of both the management teams in restoring the M&S competitive advantage. The main focus of the previous management had been on the enhancement of clothing market share and Roger Holmes (Annual Review 2003, p3) highlighted the three major domains of their efforts as furthering amelioration in the stronger clothing categories (women formal wear), following the growth chances in low share clothing categories (men's wear) and finally revolutionising the weak categories (children wear). However despite all these efforts, the previous management ended up in losing its significant market share in the clothing market, in particular womenswear which used to the core area of the company's business and profits (Annual Review 2003, p6). The entire focus of the new management team, however, seemed more strictly on the price and product innovation and improvement. They approached to regain the company's lost market share and competitive position through price benchmarking and product innovation to provide more value to the customers and consequently to win in the competitive environment (Annual Review 2005, p4). Marketing The previous management utilised marketing and advertisement in the course of various product campaigns (Annual Review 2004, p8). The company's marketing tactics also underwent change under the new management, which emphasised clearly on a unified M&S brand rather than focusing on a vast range of sub-brands. It focused on strengthening and bringing together the various M&S brands and reflected its traditional relationship with core customers in its marketing and advertisement campaigns (Annual Review 2005, p5). Human Resources Human resources and people management has been the core issue concerning both the management teams. The previous management was however less focused in its strategies to develop the M&S people. Furthermore, in the process of store refurbishment and improvement, the previous team (Annual Review 2004, p5) indicated an intention to lay off about 1000 workers in order to control costs. This could have led to a decline in employee morale and performance. The new management focused on a people amelioration approach, it further took care of its human resources in a much-enhanced manner through proper and evident training, rewarding, developing and listening strategies (Annual Review 2006, p17) to improve employee performance and motivation levels. . Operations The former management team posed great emphasis on opening new stores and carrying out renovation in the older ones making them look more contemporary and convenient so as to win more customers in the competitive marketplace (Annual Review 2004, p16). Furthermore, it also identified the need for ameliorating the supply chain management and sourcing of products to win a competitive edge in the market (Annual Review 2004, p9). The new management team came with a sharpened approach to revolutionising store