Marks & Spencer Group Anaylsis

COMPANY PROFILE Marks and Spencer Group plc REFERENCE CODE: DFE67A38-E021-448F-BC58-3944E618713F PUBLICATION DATE: 12 May 2012 www. marketline. com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED. Marks and Spencer Group plc TABLE OF CONTENTS TABLE OF CONTENTS Company Overview†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Key Facts†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Business Description†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 Histor y†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 Key Employees†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 Key Employee Biographies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10 Major Products and Services†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ . 6 Revenue Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 17 SWOT Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18 Top Competitors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 25 Company View†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 26 Locations an d Subsidiaries†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 29Marks and Spencer Group plc  © MarketLine Page 2 Marks and Spencer Group plc Company Overview COMPANY OVERVIEW Marks and Spencer Group (M&S or â€Å"the company†) is one of the leading retailers of clothing, foods and homeware in the UK. The company operates in more than 40 countries across Europe, the Middle East, and Asia. It is headquar tered in London, the UK and employs 78,169 people. The company recorded revenues of ? 9,740. 3 million (approximately $15,158. 8 million) in the financial year ended April 2011 (FY2011)*, an increase of 2. 1% over FY2010. The operating profit of M&S was ? 836. million (approximately $1,302. 5 million) in FY2011, a decrease of 1. 8% compared to FY2010. The net profit was ? 612 million (approximately $952. 5 million) in FY2011, an increase of 1 6. 3% over FY2010. *The financial year ended April 2, 2011 was a 52-week period whereas the financial year ended April 3, 2010 was a 53-week period. KEY FACTS Head Office Marks and Spencer Group plc Waterside House 35 Nor th Wharf Road London W2 1NW GBR Phone 44 20 7935 4422 Fax Web Address http://www. marksandspencer. com Revenue / turnover 9,740. 3 (GBP Mn) Financial Year End April Employees 78,169 London TickerMKS Marks and Spencer Group plc  © MarketLine Page 3 Marks and Spencer Group plc Business Description BUSINESS DESCRIPTION M&S is the holding company of the Marks & Spencer Group of companies. The company is one of the UK’s leading retailers, with more than 21 million people visiting its stores each week. M&S offers clothing and home products, as well as foods, sourced from about 2,000 suppliers globally. It operates through both wholly owned stores and franchise stores. As of FY2011, the company operated 703 stores in the UK. M&S operates over 361 owned and franch ised stores in over 42 territories.Though the company primarily repor ts its revenues in terms of geographic segments (UK and international), its operations can be categorized under two divisions: food and general merchandise. The food division concentrates on four main areas: fresh, natural, healthy food; special celebration products; authentic ready meal ranges; and exceptional ever yday food such as â€Å"Oakham† chicken. It operates a chain of 163 Simply Food owned stores and 202 Simply Food franchise stores in high streets, motorway service stations, railway stations and air por ts in the UK.The general merchandise division of the company is categorized into two segments: clothing and home. The clothing segment offers women's wear, men's wear, lingerie, children's wear, and accessories and footwear. Some of the prominent brands offered by this segment include Autograph, Limited Collection, Collezione, Blue Harbour, Girls Boutique, Per Una, Ceriso, Adored, and Truly you. The home segment offers homeware and home accessories, kitchen and tableware, lighting, and furniture products. In addition to selling products through regular stores, the segment also offers catalogue services.M offers its products and services online as well as through flagship stores, high street stores, retail park stores, M outlets, Simply Food stores, and Simply Food franchised stores. Marks and Spencer Group plc  © MarketLine Page 4 Marks and Spencer Group plc History HISTORY M was founded in 1884 as a stall in an open market in Leeds, the UK. Then known as Marks' Penny Bazaar, it was the household goods, haberdasher y, toy, and sheet-music business of Michael Marks, a Jewish refugee from Poland. In 1894, he took Thomas Spencer as a business par tner.In 1903, M&S was registered as a private limited company. Although a clothing design depar tment had first been set up in 1938, it was not until after the Second World War that it became fully developed under a leading designer . In 1973, the company entered Canada, and bought Peoples Depar tment Stores and D'Allaird's, a national women's wear retailer, both of which it later sold. The company also had direct retailing investments in Canada. It tried to move south of the border in 1988 with the purchase of Brooks Brothers, but the US operation never took off as the company had hoped.Five franchised stores were closed down in Turkey in 1999 when the franchise par tner Turk Petrol Holding couldn't meet its bank obligations and collapsed. Later in the year, Marks and Spencer Canada, after 25 years of business, closed its 38 stores. The company sold its US clothing chain Brooks Brothers for $225 million in 2001. In 2003, M&S announced the launch of its â€Å"&more† credit card. Alongside this, Marks & Spencer Financial Services was re-branded â€Å"Marks & Spencer Money. † In 2004, M&S completed the sale of Marks & Spencer Retail Financial Services Holdings (M&S Money) to HSBC.During the course o f 2005, the company opened 31 Simply Food stores as well as closed the Lifestore project in the UK. M&S expanded the â€Å"Simply Food† format with the acquisition of 28 stores on a leasehold basis from Iceland Foods for a consideration of ? 38 million (approximately $76. 3 million) in 2006. In the same year, M&S sold Kings Super Markets, its only non-M&S branded business to a US investor group consisting of Angelo, Gordon & Co, MTN Capital Par tners and Mr. Bruce Weitz for $61. 5 million in cash.In 2007, M&S and two of its long-term suppliers decided to star t the development of M&S' first â€Å"eco-factories†, pioneering innovative methods of sustainable manufacturing. One factor y in Sri Lanka would make lingerie and two factories in Nor th Wales would manufacture furniture upholster y. In the same year, the company launched its own branded LCD widescreen TVs. This range was in addition to the existing collection of Sony TVs currently available at M. Fur ther in the year, M launched school wear made from recycled plastic bottles.The company's first standalone home store in Lisburn, Nor thern Ireland was launched in 2007. In the same year, M&S launched Big & Tall, an exclusive online men's wear offering more than 450 items online ranging from tailoring to knitwear to casual shir ts and trousers. Also in 2007, M reduced saturated fat level as much as 82% in more than 500 company's products. The company reduced saturated fat levels in products including sandwiches, ready meals, crisps and savor y snacks. Marks and Spencer Group plc  © MarketLine Page 5 Marks and Spencer Group plc HistoryTowards the end of 2007, a new Made to Measure shir ts ser vice was launched by M&S, which allowed customers to design a tailor-made shir t within 21 days. The company added new products to its men's wear por tfolio in FY2008. M also launched climate control underwear featuring temperature regulating technology developed by NASA, expanded Collezione brand collec tion by introducing new shoes, wool and cashmere mix trousers. M reinvigorated its Blue Harbour brand to attract 35 to 44 year old men. Also in FY2008, the company star ted to freeze its ready meals for international sale and launched a range of 70 lines in eight countries.Later, the company also launched a 25-piece capsule collection called GD25 from Per Una. In 2008, M removed ar tificial colors and flavorings from its entire food and soft drinks range. In the same year, the company improved the quantity of space in a number of major out of towns and city centre stores through store extensions and also added 35 stores to its Simply Food por tfolio, including 25 BP franchised stores. A new flagship store in new Westfield Centre at White City, West London was opened at the end of 2008.To fur ther progress in Asian markets, the company opened its first 38,000 square feet store in Shanghai. M then entered into a par tnership with Scottish and Southern Energy, as per which M Energy wou ld supply electricity and gas to domestic customers and reward them with M store vouchers for helping the environment by reducing their energy usage. M announced plans to close 10 of its Simply Food stores in 2009. The company opened Food to Go outlets in Hong Kong in the same year. Also in 2009, M announced plans to enter new categories in the Indian market, with the launch of luggage and footwear for men.The company introduced a Ramadan and Eid fashion collection in all the 13 stores throughout the Middle East in the UAE, Bahrain, Qatar, Kuwait and Oman in 2009. Fur ther in the year, M launched personalized greetings cards business online. The company also announced to open its second mainland store in Guangzhou, the capital of Guangdong province in southern China. M also launched a beer and cider range to complement its wine selection. M launched a revamped version of its website in 2009, the first major update since 2007.Fur thermore, in 2009, the company began to offer its onli ne international deliver y service to 73 more countries as par t of a drive to grow annual sales of M Direct. The company began its offering within the homeware sector in 2009. M announced plans to open a store in Marbella, Spain by the end of 2009. In the same year, M and India-based Reliance Retail planned to open approximately 50 stores in India in the following five years under the banner of their joint venture company Marks & Spencer Reliance India. Later in the year, the company outlined plans to cut costs by ? 50 million (about $150 million) by optimizing its supply chain and IT systems. M also announced plans to open a new store at the Swords Pavilions shopping center in the Dublin Airpor t, Ireland, in 2009. The company opened its new 22,000 square feet store at Morpeth's Sanderson Arcade in the same year. M&S decided to launch â€Å"Simply Food† in Western Europe. Fur ther in 2009, the company announced plans to sell a selected range of around 400 branded grocery an d household products in all of its UK stores, following a 16-month trial in its stores in the Nor th East and South East of England.In 2010, M&S launched a new Home Energy Service division that would offer customers a suite of energy efficiency products and services. Building on the success of M&S Energy, which was servicing Marks and Spencer Group plc  © MarketLine Page 6 Marks and Spencer Group plc History over 125,000 homes, the company would roll-out a number of new products including bespoke energy advice, renewable energy solutions such as solar panels and heat pumps, and energy efficient heating solutions.In the same year, M&S announced a program to be the world's most sustainable retailer by 2015, launching 80 major new commitments under M' eco and ethical plan, Plan A. The new commitments will mean that the company ensures all M&S products become ‘Plan A products' with at least one sustainable quality. This program will also enable the company's 2,000 suppliers to a dopt Plan A best practice and encourage M customers and employees to live ‘greener' lifestyles. Fur ther in 2010, M launched a new version of www. marksandspencer. om designed specifically for use on mobile phones and mobile devices—the first mobile site from a major UK high street retailer. Through this, the company aims to expand its multi-channel offering. During the same year, M launched England Football team suit exclusively in M stores, to take advantage of the football World cup spending. The company opened its new 1. 1 million square feet distribution centre at ProLogis Park Bradford in the UK in 2010. This warehouse in the UK will serve all the company's stores with furniture products and store equipment.Later in 2010, M&S launched a range of Solar PV and Solar Thermal water heating solutions. Fur thering the sustainability initiatives, the company also announced that it will use polyester made from recycled PET drinks bottles instead of virgin polymer to make more than 300 million clothing care labels a year. Towards the end of 2010, M&S announced plans to move into rail distribution to reduce its carbon footprint. More than 300,000 general merchandise products per week would move from road to rail distribution. The company also opened a new shopping center in Vilnius, Lithuania at the end of year.In April 2011, M&S opened its greenest ever store at Ecclesall Road in Sheffield. This is the first store of a number of new Sustainable Learning stores planned by the company as par t of its drive to become the world's most sustainable major retailer by 2015. The company opened 20 stores in the UK during FY2011, including 17 Simply Foods. In international, M opened 49 new stores and closed 15 stores. During the same period, the company entered the Egyptian market with a 28,000 square feet store in the Dandy Mega Mall in Cairo.The company, in July 2011, launched a new iPad application for its investors. This application will provide investors w ith latest M financial news. In the following month, M signed a traceability deal with Historic Futures. As per the deal, Historic Futures will provide the company full traceability on ever y single clothing and home product it sells. M is the first major retailer to commit to full traceability for non-food products. In September 2011, M opened a new store at Westfield, Stratford City with the latest ‘Only at Your M' innovations and customer experiences.In the following month, M&S launched its new French website, http://www. marksandspencer. fr/, marking its first international transactional website. Marks and Spencer Group plc  © MarketLine Page 7 Marks and Spencer Group plc History The company, in November 2011, opened its new flagship store at 100 Avenue des Champs-elysees in Paris. M&S, in February 2012, launched its outlet format on its website at www. marksandspencer. com/outlet. M&S Outlet will permanently offer a selection of more than 1,300 quality M&S clothing prod ucts with up to 40% off the regular high street and online prices.In the same month, the company recalled four products (Crispy Prawn Wonton, Crispy Vegetable Balls, Prawn Baguette Toast, and Prawn Siu Mai Selection) from its Chinese range due to mistake in ‘use by’ date. In March 2012, the company, announced plans to launch a new website for its Irish customers, http://www. marksandspencer. ie/. In April 2012, M&S announced that it will accept secondhand clothes at UK outlets in order to recycle into other fabrics or reuse overseas by the Oxfam charity in an aim to cut waste. Marks and Spencer Group plc  © MarketLine Page 8 Marks and Spencer Group plcKey Employees KEY EMPLOYEES Name Job Title Board Marc Bolland Chief Executive Officer Executive Board 975000 GBP Alan Stewar t Chief Finance Officer Executive Board 550000 GBP Kate Bostock Executive Director, General Merchandise Executive Board 590000 GBP John Dixon Executive Director, Food Executive Board 540000 GBP Ste ven Sharp Executive Director, Marketing Executive Board 655000 GBP Laura Wade-Gery Executive Director, Multi-channel E-commerce Executive Board Amanda Mellor Group Secretar y and Head of Corporate Governance Executive Board Rober t Swannell Chairman of the BoardNon Executive Board Vindi Banga Director Non Executive Board Miranda Cur tis Director Non Executive Board Jeremy Darroch Director Non Executive Board 85000 GBP Steven Holliday Director Non Executive Board 85000 GBP Mar tha Lane Fox Director Non Executive Board 70000 GBP Jan du Plessis Director Non Executive Board 70000 GBP Clem Constantine Director, Proper ty Senior Management Tanith Dodge Director, Human Resources Senior Management Dominic Fr y Director, Communications and Investor Relations Senior Management Jan Heere Director, International Senior Management Nayna McIntoshDirector, Store Marketing and Design Senior Management Steve Rowe Director, Retail Senior Management Darrell Stein Director, Information Technology and L ogistics Senior Management Marks and Spencer Group plc  © MarketLine Compensation 450000 GBP Page 9 Marks and Spencer Group plc Key Employee Biographies KEY EMPLOYEE BIOGRAPHIES Marc Bolland Board: Executive Board Job Title: Chief Executive Officer Since: 2010 Mr. Bolland has been the Chief Executive Officer at Marks and Spencer Group since 2010. Previously, he was the Chief Executive Officer at Morrisons Supermarkets from 2006 to 2010.Prior to this, Mr. Bolland worked at Heineken for 20 years in various management roles, including Executive Board member and Chief Operating Officer, and responsibility for operations and business development in the US, France, Italy, Spain, the Caribbean and Latin America. He also ser ves as a Director at Manpower. Alan Stewart Board: Executive Board Job Title: Chief Finance Officer Since: 2010 Mr. Stewar t has been the Chief Finance Officer at Marks and Spencer Group since 2010. Before joining the company, he was the Chief Financial Officer at AWA S, an aircraft leasing company. Mr.Stewar t spent 10 years at HSBC Investment Bank before joining Thomas Cook in 1996, where he held various senior roles, including Chief Executive at Thomas Cook UK. Mr. Stewar t joined WH Smith in 2005 as Group Finance Director. He also ser ved as a Non Executive Director at Games Workshop Group. Kate Bostock Board: Executive Board Job Title: Executive Director, General Merchandise Ms. Bostock is the Executive Director of General Merchandise at Marks and Spencer Group. She joined the company in 2004. Previously, Ms. Bostock was the Product Director for Childrenswear at Next from 1994.She also ser ved as the Product Director for the George brand covering all areas of clothing and footwear at Asda. John Dixon Board: Executive Board Job Title: Executive Director, Food Marks and Spencer Group plc  © MarketLine Page 10 Marks and Spencer Group plc Key Employee Biographies Since: 2009 Mr. Dixon has been the Executive Director of Food at Marks and Spence r Group since 2009. He joined the company as a Store Management Trainee. Mr. Dixon held various senior roles at the company for over 20 years, including Executive Assistant, Chief Executive, and Director of Home and M&S Direct.Steven Sharp Board: Executive Board Job Title: Executive Director, Marketing Mr. Sharp is the Executive Director of Marketing at Marks and Spencer Group. He joined the company in 2004. Previously, Mr. Shar p served as the Marketing Director at Asda, the Bur ton Group, Booker, and Arcadia Group. Currently, he is a Non Executive Director at Adnams. Laura Wade-Gery Board: Executive Board Job Title: Executive Director, Multi-channel E-commerce Since: 2011 Ms. Wade-Gery has been the Executive Director of Multi-channel E-commerce at Marks and Spencer Group since 2011.Prior to this, she worked at Tesco and held a variety of senior roles, including Chief Executive Officer of Tesco. com and Tesco Direct. Ms. Wade-Ger y also held various roles at Gemini Consulting and K leinwor t Benson. She has also been a Non Executive Director at Trinity Mirror since 2006. Amanda Mellor Board: Executive Board Job Title: Group Secretary and Head of Corporate Governance Ms. Mellor is the Group Secretary and Head of Cor porate Governance at Marks and Spencer Group. She joined the company in 2004 as the Head of Investor Relations. Ms.Mellor spent her early career in investment management at James Capel before becoming a Director within its Corporate Finance team. She then served at Rober t Fleming, Investment Banking prior to joining The Bur ton Group as the Director of Cor porate Relations and Investor Relations. Robert Swannell Board: Non Executive Board Job Title: Chairman of the Board Marks and Spencer Group plc  © MarketLine Page 11 Marks and Spencer Group plc Key Employee Biographies Since: 2011 Mr. Swannell has been the Chairman of the Board at Marks and Spencer Group since 2011.He joined the company in 2010 as a Non Executive Director. Prior to this, Mr. S wannell was a Senior Independent Director at The British Land Company, and 3i Group. He spent over 30 years in investment banking at Schroders/Citigroup. Mr. Swannell was previously the Vice Chairman at Citi Europe and Co-Chairman at Citi's European Investment Bank. Vindi Banga Board: Non Executive Board Job Title: Director Since: 2011 Mr. Banga has been a Director at Marks and Spencer Group since 2011. He is currently a Par tner at Clayton Dubilier & Rice, a private equity investment firm. Prior to this, Mr.Banga spent 33 years at Unilever, where he held several senior positions, including President of the Global Foods, Home and Personal Care businesses, and was a member of the Unilever Executive Board. He also serves as a Non Executive Director at Thomson Reuters and Maruti Suzuki India. Miranda Curtis Board: Non Executive Board Job Title: Director Since: 2012 Ms. Cur tis has been a Director at Marks and Spencer Group since February 2012. She is currently the Chairman at Waterston es, and a Non Executive Director at Liber ty Global. Ms. Cur tis has also been a Non Executive Director at National Express Group since 2008.She also serves on the Boards of the Institute for Government, the Royal Shakespeare Company, and Camfed (the leading African girls’ education charity). Jeremy Darroch Board: Non Executive Board Job Title: Director Since: 2006 Mr. Darroch has been a Director at Marks and Spencer Group since 2006. He also ser ves as the Chief Executive at British Sky Broadcasting. Previously, Mr. Darroch ser ved as the Chief Financial Officer at British Sky Broadcasting. Prior to this, he was the Group Finance Director and Retail Finance Director at Dixons Retail (formerly DSG International). Marks and Spencer Group plc MarketLine Page 12 Marks and Spencer Group plc Key Employee Biographies Steven Holliday Board: Non Executive Board Job Title: Director Since: 2004 Mr. Holliday has been a Director at Marks and Spencer Group since 2004. He is the Group Chie f Executive Officer at National Grid. Prior to that, Mr. Holliday served as the Director of UK and Europe and was responsible for the UK Electricity and Gas businesses. He is also the Chairman of the UK Business Council for Sustainable Energy. Prior to joining National Grid, Mr. Holliday was an Executive Director at British Borneo Oil and Gas.Previously, he held several senior positions at Exxon Group. Martha Lane Fox Board: Non Executive Board Job Title: Director Since: 2007 Ms. Fox has been a Director at Marks and Spencer Group since 2007. She is the UK’s Digital Champion, the Chairman of Race Online 2012, and a Non Executive Director at Channel 4 Television. Ms. Fox is founder and Chairman of Lucky Voice, and of her own grant-giving foundation, Antigone. She was co-founder of lastminute. com. Jan du Plessis Board: Non Executive Board Job Title: Director Since: 2008 Mr. du Plessis has been a Director at Marks and Spencer Group since 2008.He is the Chairman at Rio Tinto. Pre viously, Mr. du Plessis was the Chairman at British American Tobacco and a Non Executive Director at Lloyds Banking Group. He also ser ved as the Chairman at RHM from 2005 to 2007. Mr. du Plessis was previously the Group Finance Director at Richemont, a position he held until 2004. Clem Constantine Board: Senior Management Job Title: Director, Proper ty Mr. Constantine is the Director, Proper ty at Marks and Spencer Group. He joined the company in 2006. Mr. Constantine was appointed the Group Proper ty and Retail Planning Director at Arcadia Group in 1999.He was appointed to his first finance directorship in 1993, for the IS brand at the Marks and Spencer Group plc  © MarketLine Page 13 Marks and Spencer Group plc Key Employee Biographies Bur ton Group, and moved through several other finance directorships with variable responsibilities including systems and retail. Mr. Constantine was trained as a Char tered Accountant at Stoy Hayward, and joined Debenhams in 1989 as a Financial Analyst. Tanith Dodge Board: Senior Management Job Title: Director, Human Resources Since: 2008 Ms. Dodge has been the Director, Human Resources at Marks and Spencer Group since 2008.She was formerly the Group Human Resources Director at WH Smith since 2003. At WH Smith, Ms. Dodge was also responsible for Public Relations, Communications and Post Office Operations. Prior to this, she was the Senior Vice President Human Resources for Europe, Middle East and Africa (EMEA) at InterContinental Hotels Group. Ms. Dodge also served as the Human Resources Director at Diageo's two business divisions. She was also the International Human Resources Manager at Prudential Corporation. Dominic Fry Board: Senior Management Job Title: Director, Communications and Investor RelationsMr. Fry is the Director, Communications and Investor Relations at Marks and Spencer Group. He joined the company in 2009. Prior to this, Mr. Fr y ser ved at Tulchan Communications. In 1996, he was appointed the Communicat ions Director at J Sainsbury and ser ved in the same role at ScottishPower from 2000 to 2005. In 1989, Mr. Fr y became the Communications Director at AT&T in the UK before moving from there to head up communications at the Channel Tunnel in the mid '90s. He star ted his career in 1982 working in PR consultancy at Traverse-Healy & Regester and then Charles Barker.Jan Heere Board: Senior Management Job Title: Director, International Since: 2011 Mr. Heere has been the Director, International at Marks and Spencer Group since 2011. He joined Inditex in 2002 where he held a several international roles, most recently as General Manager for Inditex Russia. During 2000–02, Mr. Heere held various senior management roles at Zara, Groupo Inmobiliario Lupaco, and Charanga. He began his career at Manpower in Spain in 1997. Nayna McIntosh Marks and Spencer Group plc  © MarketLine Page 14 Marks and Spencer Group plc Key Employee BiographiesBoard: Senior Management Job Title: Director, Stor e Marketing and Design Ms. McIntosh is the Director, Store Marketing and Design at Marks and Spencer Group. She joined the company in 2005. Prior to this, Ms. McIntosh was par t of the Management Team that set up the per una brand in 2001. Previously, she served as the Sales and Marketing Director for the George brand at Asda stores. Before joining George, Ms. McIntosh was at Next for four years as a Divisional Executive for the South of England. Steve Rowe Board: Senior Management Job Title: Director, Retail Since: 2008 Mr.Rowe has been the Director, Retail at Marks and Spencer Group since 2008. He joined the company in 1989 and held a variety of positions in store management, having previously worked at Topshop as a Store Manager. Mr. Rowe joined Head Office in 1992 as a Merchandiser for Menswear. In 1998, he was promoted to Category Manager in the Furniture Depar tment. In 2001, Mr. Rowe led the team developing the Home Growth Strategy, working with McKinsey Consultants, and beca me Head of Home categories in 2003. He was promoted to the Director of Home a year later in 2004. From 2004 to 2008, Mr.Rowe was also responsible for Beauty and New Business Development. Darrell Stein Board: Senior Management Job Title: Director, Information Technology and Logistics Mr. Stein is the Director, Information Technology and Logistics at Marks and Spencer Group. He has been working in IT for 17 years star ting his career at the company in 1990. Mr. Stein re-joined M in 2006 as the IT Director. From 2001 to 2006, he ser ved at Vodafone, becoming IT Director for Vodafone UK in 2004. Prior to this, Mr. Stein was Vodafone's UK Network Director and Global IT Strategy and Architecture Director.From 1996 to 2001, he ser ved at Ernst & Young, leading a number of major IT and Change Programmes in the financial services, retail and utility sectors. In 1994, Mr. Stein joined Mars as a Project Manager. Marks and Spencer Group plc  © MarketLine Page 15 Marks and Spencer Group plc Ma jor Products and Services MAJOR PRODUCTS AND SERVICES M&S is one of the leading retailers of clothing, foods and homeware in the UK. The company's key products and services include the following: Products: Women's wear Men's wear Lingerie Children's wear Footwear Food and grocery items Homeware and home accessoriesKitchen and tableware Lighting Furniture products Services: Credit cards Car, home, travel, and pet insurance Personal loans Brands: Autograph Limited Collection Collezione Blue Harbour Girls Boutique Per Una Ceriso Adored Truly you Marks and Spencer Group plc  © MarketLine Page 16 Marks and Spencer Group plc Revenue Analysis REVENUE ANALYSIS Overview The company recorded revenues of ? 9,740. 3 million (approximately $15,158. 8 million) in FY2011, an increase of 2. 1% over FY2010. For FY2011, the UK, the company's largest geographic market, accounted for 89. 7% of the total revenues.M generates revenues through two business divisions: food (51. 5%% of the total revenues in FY2011), and general merchandise (48. 5%). Revenues by division* During FY2011, the food division recorded revenues of ? 4,499. 4 million (approximately $7,002. 4 million), an increase of 1. 9% over FY2010. The general merchandise division recorded revenues of ? 4,233. 6 million (approximately $6,588. 8 million) in FY2011, an increase of 2% over FY2010. *The revenue breakdown by division is only for the revenues from the UK market. Revenues by geography The UK, M' largest geographical market, accounted for 89. % of the total revenues in FY2011. Revenues from the UK reached ? 8,733 million (approximately $13,591. 2 million) in FY2011, an increase of 1. 9% over FY2010. International operations accounted for 10. 3% of the total revenues in FY2011. Revenues from international operations reached ? 1,007. 3 million (approximately $1,567. 7 million) in FY2011, an increase of 4% over FY2010. Marks and Spencer Group plc  © MarketLine Page 17 Marks and Spencer Group plc SWOT Analysis SWO T ANALYSIS M&S is one of the leading retailers of clothing, foods and homeware in the UK.The company has expanded its food product offering significantly in the recent years. New products launches, focus on expanding healthy products, promotions, and competitive prices are all helping the company attract customers in a highly competitive market. However, surge in shoplifting could negatively impact the cost structure for M&S. Strengths Weaknesses Expanding food offering Strong market position in the clothing segment Geographical expansion to increase the addressable market and reduce vulnerability to mature UK market M&S etched a highly effective CSR strategy M&S legacy stores and systems are a ompetitive disadvantage Declining general merchandise division sales due to inadequate stocking Opportunities Threats Online channel continues to boom and will enable M&S to boost revenues Focus on China and India can lead to expansion in two of the fastest growing markets Surge in shopliftin g losses costs the retailers and customers Weak consumer spending in the UK Rising labor cost in the UK Strengths Expanded food offering The company has expanded its food product offering significantly in the recent years. In 2009, M&S consistently highlighted it is cheaper than Waitrose on a basket of 1,200 items by about 2%.The company, in 2009, decided to invest in its margins in order to provide its customers better value. As a result of this, M&S saw improved perceptions of value by its customers. The company, in FY2011, launched around 1,800 new products in food and positioned itself as the UK’s leading high quality food retailer. The key product launches of the company include Taste Italia, and Made Without Wheat range of gluten-free bread and cakes, With the success of Made Without Wheat product range, the company launched gluten-free sandwiches, sausages, stuffing, and crisp bakes.As of FY2011, the company offered 125 gluten-free products. M&S also became the UK†™s second largest favorite health food brand with the launch of its Simply Fuller Longer range which encourages customers to manage their weight with a menu plan. The gross margin of food division increased by 20 basis points to Marks and Spencer Group plc  © MarketLine Page 18 Marks and Spencer Group plc SWOT Analysis 30. 8% in FY2011. This was mainly driven by better management of promotions and waste. Fur ther, in the four th quar ter of FY2012 ended March 2012, M&S launched 500 new products in the food division.The sales in this quar ter increased by 3. 1%, The company’s promotions such as roast dinner for ? 5 ($7. 8), Dine In, etc offered its customers with great value solutions for special occasions. M&S’ food division has been performing well in a ver y competitive market and against tough competitors. By launching innovative products and with an expanded food offering, the company has been able to attract the customers in a highly competitive market. Strong market position in the clothing segment M&S has a strong market position in the clothing segment.With more than one in 10 clothing items bought from M&S, the company ranks amongst the three largest clothing retailers in the UK. According to a repor t released by Verdict (Datamonitor's retail arm) in May 2012, M is known for its product quality. The company was ranked first with a score of 49 for its product quality above the market average of 23. According to another repor t released by Verdict in April 2012, M enjoys highest conversion rate of 50. 7% and is very successful in conver ting visitors to loyal main users through its varied product offer, in-store service and garment quality.This indicates that M is a trustwor thy brand, which all main users would return to knowing that the quality, fit, and ser vice are reliable and consistent. The retailer has recognized that its core market of predominantly mature customers has been especially hard hit by rising core costs of living, falling interest on savings and worse prospects for pensions, and in reaction has lowered its entr y prices to compete more effectively with high street/value operators and supermarkets, helping to maintain the loyalty of its main users and prevent them from shopping elsewhere.Verdict, in its repor t in March 2012, ranked, M seventh in the global depar tment store market with a share of 3. 2%. This market leadership enabled M to excel throughout the economic downturn, while other mid-market retailers are pressured from the ever expanding value players. Leading market position indicates access to a large customer base and also popularity of M' offering in the clothing segment. Going forward, this market position would enable the company to drive revenues as consumer spending recovers.Geographical expansion to increase the addressable market and reduce vulnerability to mature UK market With a por tfolio of over 361 owned and franchised stores in 42 territories M&S continues to grow i ts international business. This mix of ownership models and countries enabled the company to perform well in FY2011, even when individual markets were weak. Fur ther, during FY2011, the company entered the Egyptian market with a 28,000 square feet store in the Dandy Mega Mall in Cairo. M&S' international business grew by 4% in FY2011 despite tough economic situation.As an established retailer in a mature market, it is going to be hard for M to continually deliver significant increases in UK sales. However, in the long run, its international business offers an oppor tunity for high growth. By generating much higher volumes, it can deliver margin benefits with suppliers. With production costs rising, this will be an advantage in the UK. International expansion will enable the company to access multiple sales points for most of the product ranges. This is especially relevant for clothing and homewares segments.Also, through expansion in the international markets M can reduce Marks and Spencer Group plc  © MarketLine Page 19 Marks and Spencer Group plc SWOT Analysis vulnerability to mature UK market. The company can also par ticipate effectively in some of highest growing markets such as China and India. All these factors would enable the company to reduce the overall business risk and facilitate increased revenues. M etched a highly effective CSR strategy M has to its credit an effective corporate social responsibility (CSR) strategy.CSR has been gaining prominence not just among the stake holders and governments but the consumers as well. The company has the highest propor tion of consumers believing it to be a responsible retailer and this can largely be attributed to the success of its Plan A, a ? 200 million (approximately $320. 3 million) 100-point plan launched in 2007 with five areas of focus: climate change, fair par tnership, health, sustainable raw materials, and waste. In FY2011, the company included two more areas in its Plan A: involving customers, and making Plan A how we do business.In the last few years, initiatives launched under the Plan A banner include launching the company's first eco-store, encouraging suppliers to set-up eco-factories, removing hydrogenated fats from its ready meals, increasing the propor tion of organic food, reducing the salt content of its produce, cer tifying a larger percentage of its fish as originating from sustainable populations, and beginning to sell recycling and composting bins. It is the high profile presence of Plan A in adver tising campaigns, product labeling and store signage that gives M&S one of the best consumer perceptions of a retailer for social responsibility.The campaign works not just as a direct to consumer channel, but also because of the positive coverage it creates. Perhaps more impor tantly, it has publicized all of these initiatives extensively. In 2008, M&S launched a TV adver tising campaign focusing on its ethical, environmental and health-conscious credentials, hi ghlighting that it only uses free range eggs and that its products are now free from ar tificial colors and flavorings. Other, more innovative, ideas have included a joint venture with Oxfam to promote the recycling of old clothes.In addition, more controversially, the retailer introduced a 5p charge for carrier bags at all of its food depar tments in 2008. Though many consumers resented this charge, it has undoubtedly boosted M&S' reputation as an ethical retailer. Overall, sculpting its CSR strategy into such a high publicity campaign, divided into such clear action points and highly visible benefits, has seen the company move to the forefront of responsible retailing. In FY2011, the company launched Indigo Green, its first range of clothing made using more sustainable fabrics.In April 2012, the company announced to accept secondhand clothes at all the UK outlets except Simply Food stores, to recycle them into other fabrics or to reuse them in order to cut waste. Plan A has seen C SR become core to M' principles in the eyes of the consumer and it has reaped the benefits of this, gaining shoppers as a result and repor tedly saving more than ? 70 million (approximately $108. 9 million) in efficiencies gained in FY2011 compared with ? 50 million (approximately $77. 8 million) in FY2010.In addition, M&S improved energy efficiency in its stores by 23% and warehouses by 24% in FY2011 compared to FY2007. It also improved the fuel efficiency of its deliver y fleets by 20% and total carbon emissions have been reduced by 13%. The company now recycles 94% of all the waste it generates from its stores, offices and warehouses. The total waste is down by more than a third. M&S also met its sustainable standards by sourcing 90% of wild fish in FY2011 (62% in FY2010) and 76% of wood in FY2011 (72% in FY2010). Marks and Spencer Group plc  © MarketLine Page 20 Marks and Spencer Group plcSWOT Analysis By actively promoting a product's greener attributes (for example fewer, mo re recognizable and natural ingredients), retailers such as M have positioned products as improving one's personal environment while benefiting the global environment too. Many of their successes have come from emphasizing the former rather than the latter, especially as consumers often associate ethics with a sense of wellbeing. In terms of the issues that concern consumers, the sustainability of natural resources is a major fear, as are climate change and the fairness of sourcing arrangements.Consumers are also attracted to products with health benefits and there is a clear trend that consumers can be persuaded to par t with more money in return for products with a positive impact, not just to them personally, but also to wider society. Indeed, differentiating between products becomes harder and harder to achieve, Verdict expects consumers to turn to auxiliary considerations such as ethicality and sustainability to guide their choices. Consumers are no longer purely satisfied with how a product looks and functions; they want assurances over aspects such as nvironmental impact, hygiene, safety, and fairness. In light of the above mentioned trends where the customer choices are increasingly guided by the sustainability issues, M&S will benefit due to its reputation of being a responsible retailer. Weaknesses M&S legacy stores and systems are a competitive disadvantage M&S suffers some competitive disadvantages compared to Tesco, which has been able to drive earnings before interest and tax (EBIT) growth even in the mature UK market. Tesco benefits from supplier power and state-of-the-ar t IT, supply chain and systems compared with M&S legacy systems.The supermarket retailer has been able to break up the demand cur ve with metro, express and big box store formats out of town and on the high street. Moreover, Tesco stores have been carefully designed with consistent store layouts in order to facilitate store navigation. Extra back room store space has also been allocated to allow for smooth execution of its picking and distribution model. Tesco sells both own label and branded goods (food and non-food) in a bid to drive up footfall and sales conversion. M&S legacy stores are inconsistent in terms of layout.Store size tends to dictate product availability, while a lack of back room store space does not facilitate the same style supermarket pick and delivery model. The legacy systems and stores of M&S are constraining effective servicing of customer demands on a consistent basis. This is placing the company at a clear competitive disadvantage compared to a formidable opponent, Tesco. Declining general merchandise division sales due to inadequate stocking The company’s general merchandise division sales declined in recent times, M&S’ general merchandise division sales decreased by 2. % in the four th quar ter of FY2012 ended March 2012. This was mainly due to shor tage of stock in its stores, Due to this, the company was also no t able to meet customer demand for 300,000 knitwear garments under the M&S Woman label. It only sold Marks and Spencer Group plc  © MarketLine Page 21 Marks and Spencer Group plc SWOT Analysis 100,000 knitwear garments during this period. Fur ther, in times of high demand, inadequate stock could hamper the sales of the division and result in loss of sales to competitors.This not only affects the revenues of the company but could also result in shift of customers to its competitors. Opportunities Online channel continues to boom and will enable M&S to boost revenues Online retail sales in the UK have grown significantly over a period of time. According to Office for National Statistics, non-seasonally adjusted average weekly value for internet retail sales in the UK was ? 414 million (approximately $644. 3 million) in Februar y 2010, this increased to ? 573. 6 million (approximately $892. 7 million) in February 2012, representing an increase of 18%.Internet sales accounted for only 8% of the total retail sales (excluding fuel) in Februar y 2010. This figure increased to 10. 7% in February 2012. The growing desire for convenience is seeing shoppers buy more online, especially in the category of food and grocery. Consumers have also become savvier, using the internet more to get the best deal they can. Voucher codes, and cashback sites have been instrumental in this. Additionally, improved deliver y and fulfillment options have been encouraging consumers to shop more online.The company operates in the internet channel through M&S Direct where the products are offered through website and newly launched ‘Shop Your Way' facility, a new ordering service that has been rolled-out in 444 stores (including 151 in Simply Foods stores) during FY2011, allowing customers to place orders either in stores, online or over the phone, for deliver y to either a nominated address or free of charge to their nearest store. M&S Direct’s sales increased from ? 413 millio n (approximately $642. 8 million) in FY2010 to ? 543 million (approximately $845. million) in FY2011, an increase of 31. 5%. Fur ther, in the first half of FY2012, M&S Direct’s sales increased by 11. 7% with more than three million visitors per week. Thus, by leveraging its online presence, M&S can cater to the requirements of a growing number of customers who are looking for convenience and better deals over the internet. Focus on China and India can lead to expansion in two of the fastest growing markets China and India are two economies which are recording highest growth rates which, in turn, are expected to aid the retail market growth in these two countries.Asia's retail sales are estimated to increase with China driving the growth. According to the preliminary estimation, the gross domestic product (GDP) of China was CNY47,156. 4 billion ($7,285. 7 billion) in 2011, a year-on-year increase of 9. 2% at comparable prices. The fast pace economic development in China couple d with the rise of the middle class income group and their increasing disposable income have fur ther pushed up the demand for several consumer goods. According to National Bureau of Statistics of China, the total retail sales reached CNY18,391. 9 billion (approximately $2,841. billion) in 2011, representing a year-on-year nominal growth rate of 17. 1%. Fur ther, according to industr y estimates, the countr y's total retail sales are expected to increase from approximately CNY20 trillion ($3 trillion) in 2012 to approximately CNY26 trillion ($4 trillion) in 2016, representing an increase of about 30%. Strong Marks and Spencer Group plc  © MarketLine Page 22 Marks and Spencer Group plc SWOT Analysis underlying economic trends, population growth and the increasing wealth of individuals are key factors that contribute to the retail market expansion in China.The retail industry in India is large owing to a large population and is set to grow as several factors contribute. According to the industry sources, the retail sales in India are forecast to grow from around $411 billion in 2011 to $804 billion by 2015. The key factors behind the forecast growth include strong underlying economic growth, population expansion, increasing wealth of individuals and the rapid construction of organized retail infrastructure. Also, as middle and upper class consumer base expands, there will also be oppor tunities in India's second and third-tier cities.The greater availability of personal credit and a growing vehicle population are to improve mobility which will also contribute to a trend towards retail sales growth. M is strengthening presence in India and China as par t of its geographic expansion and for some time to come, these countries would be the key contributors to the company's international expansion strategies. The company in with par tnership with Reliance Retail, an established retailer in India, can tap into this lucrative market while expansion in China also cont inues. Indian and Chinese markets would provide a huge potential revenue base for M&S.Threats Surge in shoplifting losses costs the retailers and customers The UK retailers are exposed to increased costs of shoplifting. Shoplifting has assumed massive propor tions in recent times. According to industry estimates, retail crime costed UK stores ? 1. 4 billion ($2. 2 billion) in 2011. There are about two million thefts per year, which concludes to an average of more than one per minute. According to another industr y repor t, the thefts across the UK stores increased from ? 4. 2 million ($6. 5 million) in 2009 to ? 5. 1 million ($7. 9 million) in 2011, an increase of 20%.Long-term trends also show the figure is likely to continue rising. As a result, retailers have been increasing their surveillance spend. This is increasing the costs for retailers as well as for the end consumers. The shoplifting losses are adding to the costs for the retailers and the customers have also been bearing the brunt. The surge in shoplifting could negatively impact the cost structure for M&S as well. Weak consumer spending in the UK The UK market is suffering from weak consumer spending. The European debt crisis added more downward pressure to the growth prospects of the UK.According to Eurostat, the UK economy grew by 0. 7% in 2011 and is expected to grow by 0. 5% in 2012. In addition, the UK has witnessed high unemployment rate. According to the Office of National Statistics, the unemployment rate for the three months period November 2011 to January 2012 was 8. 4% with 2. 67 million unemployed people in the UK. Increasing unemployment rate is expected to fur ther put pressure on the economy of the UK. High inflation, led by the increase in VAT to 20% and public spending cuts reduced disposable Marks and Spencer Group plc MarketLine Page 23 Marks and Spencer Group plc SWOT Analysis income, leading to a fall in consumer spending on discretionary items. Consumers have been cautious wi th their spending especially due to soaring petrol prices, tax increases and uncer tainty over jobs. The UK is the key market for M&S. In FY2011, the UK accounted for 89. 7% of M&S' total revenues. Thus, the sluggish consumer spending and high unemployment rate in the UK could affect most of the non-food retailers and lead to reduced sales volume or shrinking profit margins. Rising labor cost in the UKLabor costs are rising in the UK. In recent times, tight labor markets, increased over time, government mandated increases in minimum wages and a higher propor tion of full-time employees are resulting in an increase in labor costs, which could materially impact the company's results of operation. The National Minimum Wage (NMW) Regulations came into force in 1999 and since then the NMW rates have been increased annually. The national minimum wage increased from ? 5. 93 per hour ($9. 23 per hour) in October 2010 to ? 6. 08 per hour ($9. 46 per hour) in October 2011.Fur ther, the nation al minimum wage is expected to increase to ? 6. 19 per hour (9. 63 per hour) from October 2012. In FY2011, M&S employed 78,169 people. Increasing labor costs can adversely affect the company's operating costs as its wage bills would escalate. This, in turn, could impact its margins adversely. Marks and Spencer Group plc  © MarketLine Page 24 Marks and Spencer Group plc Top Competitors TOP COMPETITORS The following companies are the major competitors of Marks and Spencer Group plc ASDA Group Limited Debenhams plc H & M Hennes & Mauritz AB J Sainsbury plcNEXT plc Selfridges plc Tesco PLC Gap, Inc. , The French Connection Group Plc House of Fraser Group Plc John Lewis Par tnership plc Arcadia Group Limited Home Retail Group Plc Marks and Spencer Group plc  © MarketLine Page 25 Marks and Spencer Group plc Company View COMPANY VIEW A statement by Rober t Swannell, the Chairman of the Board at Marks and Spencer Group, is given below. The statement has been taken from the companyâ€⠄¢s Annual Repor t for FY2011. I feel ver y privileged to be Chairman of this unique company and at such an exciting time in our evolution.Since joining Marks & Spencer in October and assuming the role of Chairman in Januar y, I have spent much of my time getting to know the business better – meeting our employees, shareholders, customers and suppliers. I first became deeply involved with M during the unsolicited takeover attempt in 2004, when I led the advisory team that helped put the M case to its shareholders. It was then I learned first hand about this unique company: about the extraordinarily strong relationship it has with its many stakeholders and about its very special ethos.This ethos is a reflection of the high standards our customers expect from M – trusting us not only to deliver great value, great quality products but also to do the right thing – socially, environmentally and ethically. We know that putting Plan A at the hear t of how we do busines s is not just the right thing to do; it is also fundamental to our long-term success. Performance In a challenging marketplace M has continued to grow, with underlying profits up 12. 9% on the year.We delivered this by staying true to our heritage of quality and innovation, reminding our customers what makes M special. This year Marc Bolland set out a clear medium-term plan for the business, after extensive discussions with colleagues and us, the Board. This is covered in detail in Marc’s review. From day one, I have been struck by the passion and commitment of our people. I am delighted that this year we are paying a bonus to all employees to thank them for their energy and enthusiasm in what has been a difficult trading environment. DividendWe are committed to delivering consistent returns for our shareholders. To this end we have adopted a progressive dividend policy, with dividends broadly covered twice by earnings. We intend to pay a final dividend of 10. 8p per share (l ast year 9. 5p) in respect of the 2010/11 financial year. Governance Marks and Spencer Group plc  © MarketLine Page 26 Marks and Spencer Group plc Company View This year we returned to the traditional governance structure of a separate Chairman and Chief Executive, providing clarity between Marc Bolland and me, with regard to our respective roles.Put simply, I run the Board and Marc runs the business. The Board has a wide range of responsibilities. There are three that I think are par ticularly impor tant for the success of the business: first, to debate and agree our strategy and hold the executive team accountable for its execution; second, to ensure that we have the most talented team to execute this strategy and that we plan effectively for succession; and third, to set the tone for governance, which is par ticularly impor tant at M where ‘doing the right thing’ is an integral par t of our ethos. My ob is to ensure the Board has the right mix of skills and talents and to ensure that it works effectively as a team towards shared goals with the right mix of enquir y and suppor t of the executive directors from the non-executive directors. During the year we commissioned a formal Board evaluation from an independent consultant, the findings of which are outlined in the Governance section. This process highlighted the real enthusiasm of the directors in suppor ting a shared ambition: to guide M to the ver y best future. We know that you expect high standards from M; it’s our responsibility to learn how we can improve.This review was an impor tant par t of that journey. As stated in our 2009/10 Annual Repor t, we reviewed the senior remuneration structure this year. Following extensive shareholder consultation, we believe we now have a framework that is both relevant to today’s M and fully aligned with our strategy. The Board Over the last year the Board has been strengthened by a series of executive appointments. In May 2010 Marc B olland joined the business as Chief Executive, assuming the day-to-day running of the business from Sir Stuar t Rose in July.In October Alan Stewar t joined as Chief Finance Officer and in February we announced the appointment of Laura Wade-Gery as Executive Director, Multi-channel E-commerce; she will join the Board in July. Whilst the Board features some new faces, these changes have taken place around a core of executive and non-executive directors that has remained stable over recent years. I would like to pay par ticular tribute to Sir Stuar t Rose. When he became Chief Executive in 2004, M was at a low ebb.He restored confidence in M, re-established its values and built a strong business. The solid platform from which Marc is now implementing his plan is a credit to Stuar t’s energy and tireless commitment to M over the last seven years. The smooth management transition – the meticulous handover to me and the suppor t of Marc – is also a credit to Stuar t. In that connection, I would also like to thank Sir David Michels, and the Nominations & Governance Committee he led, for managing a change of leadership over the past year that was accomplished quietly and effectively.David has decided to step down from the Board at the end of his second term in February 2012, but I am delighted that he will continue his role as Deputy Chairman until then. Marks and Spencer Group plc  © MarketLine Page 27 Marks and Spencer Group plc Company View I must also thank Louise Patten for the significant contribution she has made over the last five years, playing an impor tant role in each of our Board Committees. As Louise reaches the end of her second three year term on the Board, she has decided not to seek re-election at the upcoming AGM. Looking aheadOur priorities for the year ahead are clear. We have a plan and it is now our collective job to make it happen. The Board will concentrate on delivering exemplary governance at the highest level to enab le our executive team to drive this strategy forward. The economy still gives us reason to be cautious. Yet in difficult times, our core values of Quality, Value, Ser vice, Innovation and Trust matter more than ever to M customers. These values remain at the hear t of our strategy and I therefore look forward to the future with confidence. Marks and Spencer Group plc  © MarketLinePage 28 Marks and Spencer Group plc Locations and Subsidiaries LOCATIONS AND SUBSIDIARIES Head Office Marks and Spencer Group plc Waterside House 35 Nor th Wharf Road London W2 1NW GBR P:44 20 7935 4422 http://www. marksandspencer. com Other Locations and Subsidiaries Marks and Spencer International Holdings Limited Great Britain GBR Marks and Spencer (Nederland) BV NLD Marks and Spencer (Ireland) Limited IRL Marks and Spencer (Asia Pacific) Limited HKG Marks and Spencer Simply Foods Limited Great Britain GBR Marks and Spencer Marinopoulos Greece SA GRC Marks and Spencer SCM Limited

Writing a Victorian Mystery Novel

Victorian novels are literatures written with the neo-Victorian theme. During the Victorian era, named after the reigning British monarch, Queen Victoria, novels were the leading form of English literature. Many English writers, sometimes referred to as â€Å"Victorian novelists†, created legacy as their works were very much appealing to the English speaking communities as well as countries like France and Russia. Until today, works of these novelists still continue to attract people in reading novels as well as writing Victorian murder mystery novels.This essay is about writing novels using the key elements of the Victorian murder mystery style. In writing a Victorian murder mystery novel, there are important elements that should be taken into consideration. The Little Professor has written some â€Å"Rules for Writing Neo-Victorian Novels† which are very much useful in the writing process. I will be using Sir Arthur Conan Doyle’s The Adventure of the Speckled B and as an example of a novel written in the neo-Victorian murder mystery style.It is in the form of detective fiction which indeed was very popular. Perhaps the most important element of the neo-Victorian novels is the use of female role models. Victorian wives are usually portrayed as unfulfilled in their emotional and sexual needs resulting to illicit love affairs which create tension in the story—the flesh and blood of the Victorian novels. Other issues also arise from hostile treatment of women especially in the countryside. The Adventure of Speckle Band used this idea though in a different way.Dr. Roylott, the main perpetrator of the novel, was determined to kill his step daughters as soon as they were engaged for the annuity they were about to receive from their late mother. Of course, any case could never be solved without the help of the main character. In The Adventure of Speckle Band, Doyle’s presentation of the fictional character, Sherlock Holmes, and his a mazing deductive and inductive abilities always bring the readers into the scenes drawn into the character’s mind.Throughout the novel, and the whole Sherlock Holmes series, the character was held mysterious but was a great man. Victorian murder mystery novels have heroes and heroines who possess great analytical abilities as the Victorian novels are not much of picturesque and burlesque which were common in the Renaissance literature. Finally, endings must be less of a happy ending. Victorian novels talk about grim experiences of women (and men) living in cities and hostile treatments in the fast-paced changing of female role models in the countryside.Although the Victorian novels were patterned through grim experiences, the endings still show that â€Å"hard work, perseverance, love and luck†, dubbed as good characteristics, win against evil schemes. Reference Rules for Writing Neo-Victorian Novels. 15 March 2006. The Little Professor. 9 May 2007 . The Adventure of t he Speckled Band. 24 April 2007. Wikimedia Foundation, Inc. 9 May 2007 < http://en. wikipedia. org/wiki/The_Adventure_of_the_Speckled_Band >.

Cyber Crime Research Paper Example | Topics and Well Written Essays - 2000 words

Cyber Crime - Research Paper Example Cyber crimes have brought massive loss of funds and relevant authorities should formulate measures in order to address the situation. Consumers and businessmen have continued to face the problem of cyber crime as the legitimate uses of the internet have become more sophisticated and diversified. The crime that started in the late 1990’s as a form of social engineering whereby criminals would steal passwords for consumers account with the intent of getting free connectivity has acquired significant growth and expansion into a profitable industry with the new forms of crime. These forms are monetary theft, identity theft, extortion, money laundering and industrial espionage among other crimes (Ionescu, Mirea and Blajan p.375). The criminals who undertake various forms of cyber crimes operate from almost anywhere whereby they target businesses and people in all countries. There are many challenges that are posed by the volume and the scale of cybercrimes. Moreover, the technical complexity in identification of the cyber criminals makes it hard for the criminals to be brought to justice. The increase in the number of internet users and the nature in which most businesses are conducted online has enabled cyber criminals to increase their opportunities. Furthermore, law agencies have not formulated comprehensive mechanisms of addressing the issue of cyber crimes and the traditional type of policing that exists in many countries is incapable of apprehending the cyber criminals (Ionescu, Mirea and Blajan p.375). There are major types of cyber crimes. Vandalism of services concerned with telecommunication is one of the many forms of cyber crimes. This form has become a major industry whereby criminals are able to access circuits, make their calls and sell airtime to third parties. Moreover, the criminals have been able to access the telecommunication systems through impersonation of the technicians. This is achieved using software

Shortage of Nurses Research Paper Example | Topics and Well Written Essays - 2250 words

Shortage of Nurses - Research Paper Example Current global shortage of nursing staff has contributed to an increased number of mortality rates. Causes of nursing staff shortage Shortages of nursing staff have been attributed to various factors; addressing these factors can drastically reduce these shortages. Issues related to these shortages include insufficient enrollment of students into the nursing profession, underinvestment by the involved country’s government into health sectors, high turnover rate, poor working conditions, rapid increase in population, increased incidences of rare diseases, and few number of institutions offering nursing education (Andrist et al, 2006). Insufficient enrolment into nursing Students enrolling for nursing education are far much below to address the existing shortage. According to the survey by international nursing council, the number of students enrolling for the nursing profession is below the expectation to address the shortage of staff, and there is a need to increase the number of intakes. Comparing the number of students enrolling for other faculty and with those entering into nursing, few students pursue nursing profession. Reasons for this low enrollment have been contributed by the poor pay that nurses receive, poor working condition, long working hours, and high cost associated in training. Nurses work hard to improve the quality of patient’s life. Despite deplorable working condition, nurse’s wages are much below, hence shying off many students. Because of shortage in staff, nurses end up working for many hours than expected working hours. Most of institutions offering nursing education charges high fee, increased cost in educating nursing student has led to many parents and guardians to convince their children to pursue other courses that are less costly and have better pay (Cowen & Moorhead, 2011). Another contributing cause of the shortage in the nursing industry is an inability of nursing schools and college to enroll a large numbe r of students. According to America, association of nursing (AAN) there has been regulation in the number of annual intake in nursing college. According AAN, the Regulation in number of students is to avoid flooding the industry with many nurses. Despite an increase in the shortage, colleges have not taken an initiative to increase the number of nurse’s students. In addition, the numbers of institutions and colleges offering nursing training are few. This has translated to reduce in number of students enrolling for nursing (Kalisch, 2004). Underinvestment in health sectors Most of the developing countries have invested a lesser amount of their budget in health sectors. In Philippines, the country invests 3.6% of their gross domestic income to health sectors. This is contrary to what United States invests; it invests 16% of their gross domestic income. Because of this underinvestment, it has been difficult to attain millennium development goal (MDG) where it aimed at reducing child mortality rate and improving maternal health. Because of poor investment, it has led to poor recruitment programs. Less number of nurses are employed annually; this weak recruitment has failed to breach the gab in the existing shortage. In addition, due to less investment, nurses are paid less salary; inadequate wages have shy off many student to pursue nursing, hence causing a shortage of nursing staff (Kalisch, 2004). Poor

Impact of Apple iPhone, iPod & Laptops on the US GDP and stock Price Essay

Impact of Apple iPhone, iPod & Laptops on the US GDP and stock Price - Essay Example Moreover, the company is in charge for the manufacturing of iTunes Media Browser, iLife and iWork creativity and production suites (Apple Computer Inc. Web). The company is the third largest mobile phone maker in the world after Samsung and Nokia. The company has also been named to be the most admired company in the United States in 2008 and the most admired company in the world from 2008 to 2012. Apple Inc. is the largest openly traded company in the world by market capitalization. The company has an estimated value of $626 billion listed in the New York Stock Exchange. This means that market capitalization of the company is larger than that of its competitors, Google and Microsoft put together. The company’s worldwide annual revenue amounted to $65 billion in 2010, which have grown to $156 billion in 2012 (Foremski 1). When it was first launched, the iPhone was comprehensively respected that it was dubbed the "Jesus Phone.† However, five years later, its impact is so h uge that its latest recapitulation possibly will accomplish the astounding achievement of redeeming the US economy. The tremendous growth of its iPhone, iPod Touch and iPad products have brought about the large growth of the company. These products introduced innovations in mobile phones, portable music players, and personal computers respectively. ... According to economist Michael Feroli of J.P. Morgan consultants, the total sale of iPhone 5 may boost the growth of the economy of the US, gross domestic product, by between a quarter and half a percentage point in the last quarter of 2012. This represents a 0.33% of the entire US economy. Economist Michael Feroli of J.P. Morgan consultants notes that if the company sells more than 8 million units of the iPhone 5 at a cost of $600 in three months, the total growth of gross domestic product per a unit of phone will be $400. However, $200 dollars of the total amount is taken towards import costs. This figure will translate to $3.2 billion in the last quarter of the year and a total of $12.8 billion for the entire year (Kehoe 2). Being the most admired and accomplished phone maker in the world, iPhone creates a huge demand from it admirers for its products. The huge demand for its products in turn exceeds the supply that the company can supply to its consumers at a time. This effect cr eates more speculation of improved performance in the company’s shares. The US economy is mostly dependent on the way in which the consumers spend. The company has created employment opportunities for more than 500,000 people in the country. This figure includes 47,000 of employees who work at apple and 200, 000 people who rely on the apple economy. The sale of apple’s products has the ability to increase share prices, customer expenditure, and the supply chain that involves component makers. The expected release of apples product creates a market surge, which has a huge effect on both domestic and foreign market. The market surge in turn shifts the stock prices upwards. For instance, the release of the iPhone 5 caused the stock price of Apple company

Organizational Issues Essay Example | Topics and Well Written Essays - 1000 words

Organizational Issues - Essay Example This film features the manner in which many institution of learning handle the students with potential in athletics. The film also shows the failure of these institutions with regard to preparing of these students who are on various scholarships. This has made the students to be less responsive to the external environment after completion of studies. In this context social pressure means an external initiative by a particular sect aimed at influencing business operations to conform to its intentions. This culminates in misleading of the organizations given that they are compelled to pursue weird goals. The major sours of external pressures in organizations are highlighted in this film. These include activists, the government and the society. Institutions of learning are perfect example of organizations with the highest influence of external social influence. In this regard, it is incumbent upon these institutions to inculcate the students with proper skills, which will enable them to fit in the job market especially after graduations. Unfortunately, some institutions fail to consider the skill requirements of all eth students. In this regard, students with athletics talent are ignored, which leads to thwarting of their dreams of becoming champions in the athletic realm. This also slows the adoption of this group of students to the external environment of athletics after completion of The role of external social pressure in influencing of organizational ethics is great. In this regard, the institutions of learning are socially bound to perform to the expectation of the community and the government. Good performance is a good gesture and it is usually in response to the implied external social pressure from the community and the state. The community will require the institutions to perform well in order to provide the best candidates in

The Emotional Nature of Love in Love is a Fallacy and Romeo and Juliet Essay

The Emotional Nature of Love in Love is a Fallacy and Romeo and Juliet - Essay Example Love is an emotional response, something that can interact with logic, sometimes agreeing with it, sometimes overpowering it, and sometimes falling to it, but they are inherently different things. Love is probably the most often used theme in works of fiction – it is powerful, evocative, can easily create conflict, and people care about it more than almost anything else. Shakespeare is one of the English language’s most famous playwrights largely because of his ability to depict the emotional rollercoaster that is a romantic relationship. In the story â€Å"Romeo and Juliet† Shakespeare shows the essentially illogical, emotional nature of love. This story does emotionally heighten the importance of love, both by seemingly contrasting love with death on several occasions and by artificially raising the stakes of love by making the two lovers part of rival families bent on a blood feud. â€Å"Romeo and Juliet† and â€Å"Love is a Fallacy† actually agr ee on the most important point about love: that it is an emotional response that is separate from reason. The stories differ, however, in their portrayal of love: in â€Å"Romeo and Juliet† love acts as an uncontrollable force, whereas love is depicted as something one can choose in â€Å"Love is a Fallacy,† and â€Å"Romeo and Juliet† displays a selfless love, while â€Å"Love is a Fallacy† depicts love as entirely driven by self-interest.... Coveting something is very different from loving something, and this contrast of love and coveting shows that love, unlike covetousness, cannot be a calculated thing. In fact, the main character does not even use the word â€Å"love† until the end of the poem, in a setting where it seems like a calculated move to try to acquire the thing he covets, Polly. Polly cleverly shows that every expression of love that the main character can possibly create is a logical fallacy of some sort – again highlighting the emotional nature of love, which falls in the face of reason. â€Å"Romeo and Juliet† also depicts love as something that is entirely emotional, because the protagonists regularly commit acts that are entirely unreasonable and in fact harmful to themselves and others because of love. Juliet, for instance, asks Romeo to â€Å"deny [his] father and refuse [his] name† in order to form a romantic relationship with her (Shakespeare, 2.2). It is entirely unreas onable to expect someone to give up their family and their whole life, but love, clearly, is not a reasonable thing – Romeo does in fact give everything up for her. Furthermore, both Romeo and Juliet commit suicide at the end of the story when they think their lover is dead, showing an almost hysterically emotional response. Clearly, love and logic are entirely separate things in both â€Å"Love is a Fallacy† and â€Å"Romeo and Juliet† Though both stories agree that love is â€Å"fallacious† in the sense that it is illogical, they disagree on how love affects one’s self. In â€Å"Love is a Fallacy† all of the characters are able to choose whom they are attracted to, whereas in

World Trade Organizations regulatory regime Essay

World Trade Organizations regulatory regime - Essay Example It has often been found that the people, who toil throughout the day in order to bring food to our tables, are unable to provide for two square meals a day to their own children. This trend is especially noticeable among the farmers who are compelled to work hard amidst all adversities to meet their both ends meet. This innate hunger and poverty might discourage the farmers or other such producers from producing premium quality products that subsequently might lead to a deterioration of the health standards of the consumers. The solution to any problem could be found in the roots of that problem and thus a number of researches were carried out in this regard. Gradually the fact came to light that the farmers were actually very poorly paid which made it very difficult for them even to sustain their lives – the problem was especially acute in developing nations. This was reflected in the quality as well as quantity of the products, none of which were found to be potentially satu rated in nature. This was hampering their position in the international market, killing their prospects to earn more and thus push the nations towards a trial of development. Since the World Trade Organisation aimed towards attaining a free trade environment without any trace of a constraint, it was important to assure that the producers were fairly treated so that no obstructions came in their path of development and growth. Hence, the concept of fair trade farms came into being to ensure that the small-scale and marginal farmers.

HOLLYWOOD MELODRAMA IN EUROPEAN FILMS Essay Example | Topics and Well Written Essays - 2000 words

HOLLYWOOD MELODRAMA IN EUROPEAN FILMS - Essay Example After 1960, European cinema took itself to a new level by addressing to new and better class audiences. It also started deviating from the paradigm set by Hollywood regarding classical narrative cinemas. Melodrama first appeared in Hollywood during the era of pre- Hollywood silent cinema. During those times, it was equated with the subcategory of ‘woman’s film’ which invited female criticism on women’s ‘subaltern’ status. During the decade from 1970- 1980, European cinematic discourse took a different turn. It paved the way for â€Å"revalorization of the affective†. Through her works, Linda Williams led the way. This new way required placing of emotions in a broad category. She is also credited for taking the melodramatic genre beyond family melodramas or women – centric stories. As compared to European movies, the melodramatic movies of Hollywood contained â€Å"semiotic, psychoanalytic or ideological structures†. Melodra matic movies, in opinion of (LANDY, 1991, p. 19- 20) carried different interpretations. Groups supporting different film movements differ in opinions. In most parts of the Western Europe, as well as in Hollywood, realist melodramatic movie gained popularity. Society and social issues were the chief subjects of these movies. Melodrama, as a theatrical genre of Hollywood emphasizes more on subjectivity of emotions over social commentary. Everything related to emotions is externalized and presented in form of gestures (Deleuze and the cinemas of performance: powers of affection, 2008, p. 71). Music has played one of the most important roles when it comes to theatrical melodramas of nineteenth century. This tradition has remained unchanged even in twenty -first century. Thus, present day melodramatic movies bear subtle impression of traditional functions and conventions of music (Reay, 2004, p. 6). Conventions of Hollywood melodrama In European movies Since 1920, European cinema has set for an enterprise to have an individual identity and disassociate itself from Hollywood. Though the goal was achieved to a certain degree by countries like Germany, France and Italy, European cinema could never come out fully from Hollywood domains (Dyer and Vincendeau, 1992, p. 8). Chief notions of melodramas in Hollywood are- art is primarily used for criticism, domestic tragedy is a sub- genre of melodrama, virtuous characters suffer throughout the discourse it s worth noticing that, degree or possibility of suffering does not depend on person’s nature. Also, absolute happiness portrayed through characters are not practical in certain cases as in real life sufferings are inevitable. Lastly, the main character represents the entire population having similar problem. He or she stands for a whole mass seeking to change the course of actions or an entire system. Before ceasing its existence, melodrama in European film was deeply influenced by generic iconographies of Hollywoo d. General subject matters, perceived from a broader point of view were considered for producing melodramas. Hollywood’s influence could then be felt in European cinemas as the producers and directors made use of conventional Hollywood devices like â€Å"peplum files, historical swashbucklers, biblical epics and exotic adventure. All these were modifies and conditioned according to

Sexual Harassment Essay Example | Topics and Well Written Essays - 500 words

Sexual Harassment - Essay Example These activities can interfere with a workers production or performance of their duties as they may avoid an area that they have duties in if it is an area where they are being harassed. Under the law, co-workers and supervisors are treated differently and have different liabilities. Federal law also holds the employer responsible for the actions of the supervisor in regards to sexual harassment (Pastor, 2007, p.292). However, in regards to coworkers, the employer is only held responsible if they are negligent, such as knowing about the harassment and failing to stop it (Pastor, 2007, p.292). The federal law that protects workers from sexual harassment is Title VII of the Civil Rights Act of 1964. (Sexual harassment, 2008). In addition, states may have additional laws that can apply. They are usually modeled after the federal law but often vary in the amount and types of damages that can be awarded in a civil suit (Do states have their own laws, 2009). There are several avenues that a person can pursue if they are being sexually harassed. A worker who is the victim of sexual harassment is encouraged to first report it to their employer or human resources department, and "use any employer complaint mechanism or grievance system available" (Sexual harassment, 2008). The worker may additionally contact their union or file a suit in state or federal court. However, they must " the first file a formal sexual harassment complaint with the federal EEOC and/or your state’s fair employment agency" (Know your rights, 2009).

Once You Open Your Eyes Essay Example for Free

Once You Open Your Eyes Essay When a human being is a victim, they need to have courage and follow their ways, no matter what others say. Jem and Scout see people become victims of prejudice, rumors, poverty, and other atrocities in their own little town, as they grew older. In To Kill a Mockingbird, the children learn life lessons from witnessing people striving to survive different situations within Maycomb. When a challenge causes one to struggle, the children see that person, or themselves, have to have courage to do as they have before. Jem and Scout see their small town judge the Radleys, but the Radleys still do what they have done for as long as any single person can remember. They never talk to their neighbors or open their doors and windows on Sunday. Since they have odd habits, from other’s perspectives, and keep to themselves, citizens of Maycomb start rumors about them, saying â€Å"Radley pecans [will] kill you† (Lee 9). These rumors criticized the Radleys and made people afraid of them. Calpunia had something to say about them, stating one day that Mr. Radley was â€Å"the meanest man God ever blew breath into† (Lee 12). Since he was â€Å"mean,† that held more rumors to be made about them. The stories make children believe Boo was locked up in a damp basement in the courthouse for years and is now chained up in his house. The Radleys stay the way they are; despite the rumors, remaining removed from human contact. The Radleys are victims of misunderstanding and people’s cruel stories â€Å"unwilling to discard their initial suspicions† (Lee 9). Jem and Scout witness the Radleys to stick to their ways since they go against the crowd, despite society’s wants. The Finch children begin to notice many children’s families are victims of poverty, especially the Cunninghams, but the Cunninghams are different; they never take charity or have to depend on others. The Cunninghams are one of the poorest families in Maycomb, but they have the strongest determination to survive; and are the hardest workers. They have a great deal of pride and are respectable people. â€Å"‘The Cunninghams never [take] anything from anybody, they get along with what they have,’ † states Scout (Lee 20). Walter Cunningham would not even take a quarter of a dollar to buy a lunch because of how he was raised. The Finch children realize the Cunninghams are a brave family to live under their circumstances and not accept anyone else’s charity. If one does not accept others’ charity, they suffer more and do not always know when they are receiving their next paycheck. It is scary to not know these things, but the Cunninghams are proud and brave when to not accept the offerings of other people. The Finch children understand this from listening to Atticus talk about the Cunningham family. Tom Robinson suffered because of people and their prejudice beliefs. He also suffers from others misdeeds and died as innocent as a mockingbird. Jem becomes a victim when Tom Robinson was found guilty. He realizes the court does not always work. Jem became a victim of the system’s flaws and shortcomings. He used to believe that the court always worked, but learned it did not, when a jury found a clearly innocent man guilty. This crushed him, but it made him grow up and learn to accept things like this, because when maturing, one has to realize the world isn’t perfect. He had to have courage to accept this factor in life. It is a atrocious crime to take a persons life to merely keep the truth in the shadows; but with the pain of Tom’s death blooms a new hope of equality for the town of Maycomb, with just a baby step. Like all other children, Scout and Jem have to face all the challenges of growing up, but they have to keep going on with their lives, no matter what problems arise for them. Scout experiences the challenges of growing up when her aunt moved in. She criticized Scout for wearing pants and not acting in a lady-like manner, but that was only a small problem, and Scout stayed herself. She kept wearing pants and speaking her mind because she wanted to be an individual. Scout is surprised by prejudice, while going up. She was not aware that prejudice existed. She witnesses others victimize each other because they are different, either because of their color, friends, how they act, or many other reasons. She learns and sees this happen when listening to neighbors gossip about the Radleys, her teacher bad-mouth African Americans, or even her own self be criticized by the way she speaks her mind. Scout does not understand why people are like this, putting labels on certain types of people, like African Americans, saying â€Å"all Negroes lie, that all Negroes are basically immoral beings, that all Negro men are not to be trusted around our women† (Lee 204). Scout knows that not all people are perfect. She has to accept that some humans do not always treat others with kindness. Both Jem and Scout have to be brave and deal with the changes in the world. Scout and Jem learn from people, or themselves, when they are victims of different situations, but they are still brave. Atticus points out that real courage is when someone goes through life, still fighting, even if they are victims of prejudice, rumors, lies, hate, misunderstanding, or life’s shortcomings; to not give up even if you’ve already lost . Jem and Scout learn to keep their ways, adjust, and not judge people without knowing the full truth about them. They hope for the world to be a more understanding place.

Analysing the strategy of IKEA

Analysing the strategy of IKEA IKEA, has operations in as many as 41 countries with 29 trading service office in 25 countries along with 27 Distribution Centres plus 11 Customer Distribution Centres in 16 countries Since 1997, Ikea has more than 300 Stores in 35 countries and it has further plans to expand in Russia and China and to Start in India. Inspite of IKEA brand expanding across the world and Sales growth increasing the rise has been moderate considering the economical slum across the world since 2009 and still expected to be around for financial year 2010-2011 Economical uncertainty around people tend to invest less in leisure and comfort and prefer to save for the rainy day , based on this factor , In order to sustain current Sales growth and to improve performance , expanding into new territory and opening new stores wont help the model. Instead, Ikea in order to maintain the Top brand status in its segment must pursue the model of Cost Effectiveness by assessing the Competitors and External environment , track the key Opportunities and read the Threats which it can affect their Sales growth and business as a whole , study its Strengths and Weaknesses that affects or could affect for current and future fincancial year to get the best out of the current weak consumer market. The base of this report is to forcast Strategies for improving the performance of the IKEA in terms of efficiency, effectiveness and returns to investors this we will be doing by assessing IKEA s External environment with the help of PESTLE analysis to track the Political, Economical, Social, Technological, legal and Environmental situtions along with the Industrial environment using the Portals five forces model to analyse the core business segment of IKEA. Report will also cover the SWOT analysis to analyse the companys Internal performance to track the Opportunities and Threats it faces and could be facing in future. Introduction. IKEA, the Swedish privately owned chain established in 1943 is a International retailer of home products that ranges from furniture, bathroom and kitchen accessories. Brand name IKEA is derived from the initials of its founder owner Ingvar Kamprad, the farm Elmtaryd where Ingvar grew up in the village called Agunnaryd. IKEA blue and yellow logo represts the color of the Swedish National Flag,. IKEA since its inception in 1943, has established its presence and operational base in many countries across continents in Europe, USA, Canada, Asia and Australia. The IKEA group also has expanded the IKEA brand in Russia ,China East Europe and Middle East and is looking for a partner to make their presence in India. IKEA started with selling products like picture frames, wallets, tablerunners before moving to the core main business line Furniture in the year 1948 and year 1955 IKEA started manufacturing its own furniture ranges with were innovative , low cost and yet attractive and that could be self assembled. IKEA collects Franchise fees in form of 3% sales from each of its stores , In 2004 IKEA group made à ¢Ã¢â‚¬Å¡Ã‚ ¬631m in franchise fees and after deducation of operational charges made à ¢Ã¢â‚¬Å¡Ã‚ ¬225m pre tax profits. IKEA brand is managed and operated by INGKA Holding company which is associated with INGKA Foundation registered as a Charity organisation registed under Dutch law which implies that IKEAs entire asset and earning TAX exempted and with Kampard family controlling the INGKA foundation makes IKEA a tightly controlled family enterprise keeping it safe from hostile takeovers. IKEA management as part of its Social and Environment committment have taken to Green initiative to reduce Carbon footprint across its worldwide chains of stores have invested into renewable source of power like Wind and Solor based power Utilization for its electricity needs and as part of this IKEA in 2010 brought Six wind farms in Germany with capacity of 45MW generating enough power to run 17 IKEA stores and Four wind farms in France taking the total of wind turbines owned by IKEA to 52 covering 10% of power needs of the IKEA. IKEAs Charitable initiative includes working in close association with various groups like UNCEF in programs suchs as Save the children to help fight child labour problem in north India,works with American Forest , works with organisation that deals in causes such as violence against Women and children in Uganda and played important role in helping American victims of Hurrican Katrina. IKEA having establised its brand name in Western Europe where IKEA is short name for home appliances that comes with latest designs and at a affordable price for the working class, In UK and Ireland IKEA made Sales of  £1.2 bn with 6% market rise. In France which is the third largest market for IKEA, company has around 28 stores and IKEA had around 17% market share and accounted for 10% of overall IKEA Global growth. Germany has around 45 IKEA stores and it was the biggest market for IKEA in 2009 accounting for 16% of overall Global growth. IKEA ventured into new horizons particularly in America ,Australia , Russia, China and Japan and its employee base in Year 2010 touched 127,000, number of IKEA stores grew at rate of 10% annually, IKEA has around 12 Stores in Russia and the sales from Russia was expected to grown in range of around 15.5 % annually China which has around 8 stores the sales for IKEA in around 2004 to 2006 was around $120m, Australia has around 5 stores the total sales from Asia and Australia contributed around 6% of global sales and the profits for year 2009-2010 jumped from $434,000 to $4.9 million. IKEA had in around 2004 set the target for US to have around 50 outlets by 2010 and is second biggest market by sales, IKEA modelled their stores as not just a place strickly for one time shoppers but as a family outing, this model arounds the concept of having wacky promotions and having one Stop Sancture for which their stores have recreational facilities like baby centres and restaurants so that shopper s can take a break ,as a breather and fresh mind would always encourage the shoppers to keep going, US and JAPAN venture was a learning curve for IKEA as the sales initially didnt touched the expected level in around the 90s era, inspite of their products being competitive in the price segment IKEA sales were down and hence there was the bottleneck which latter was found out to be matching the phrase When in Rome , do what the Romans do, IKEA designers found that in order to increase their sales they had suit to everyones need based on the community day to day following in this IKEAs US based designers analysed the home appliance needs of the Hispanic communities which normally have large family hence for example a European styled table for two would have not been a good bargin for the large family , IKEA used this learning curve in US to design their product to match the needs of the local community and used this as a benchmark across the world which helped IKEA brand become a hous ehold name outside the Western European zone as well. The European Market accounted for 82% of Sales with revenue reaching $27 billion by 2007 and in 2008 its websites had touched around 450 million hits. Current Macro level Study. PESTEL Analyis Political Factors: IKEA started with a family business model expanding itself across the world , same way in many countries wood craft business has been main source of Income for many since generations and to protect the locals community and their main source of Income,Local Government takes to Protectionism so that their business can sustain and also help boast local Production and under Protectionists policies local government can put certain restriction like high tariffs on imports and have a fix celling price for the products . IKEA main selling concept was that its product were low in comparision however IKEA have always taken note of Local Government policies and worked within the legal frame work on all fronts including the pricing. The recent Economic downturn did help IKEA to sustain without needing to increase the price of its product as many of the local government had reduced the taxes and on provided subsidies to firms on account of the global economic crisis. Economic Factors: The current economical downturn has had its affect on the IKEAs over all Profitibility with reduced margins as consumers tend to save more and spend less on consumer goods because of the reduced purchasing power for many have been made redundant ,working at reduced salary and or freeze on the annual increments and in the environment where you dont know if you will have the job next day. The constant fluctuation of exchange rates and price of fuels and raw materials that is being used by IKEA have gone up around the world resulting in increased purchasing price and increase in distribution costs which makes it difficult to sell finished products at low price and due to economical crisis many local retailers have reduced their tariffs there by bringing down the profit margin of IKEA.IKEA have to therefore take steps accordingly to adjust to this economical uncertainty to maintain its brand image and sales. Social Factors: Social factors plays a very important role in growth of a brand and on Sales that variably decides the profit margins in new territories, for example for the Hispanic community based in USA which normally have large family hence for large family a European styled table for two-four would have not been a good bargin for the large family of say Six, likewise Japanese people who are brand conscious are ready to buy products at high price would think twice to buy IKEA products that are sold as low price products on same line the social following in China and India would differ from the Japanese following as In India and China communities follow the concept of Saving rather than going by the western lifesytle of living life on Credits so they may prefer IKEA brand which are marketed as best product at low price. Technological Factors: In order to attrack a new customer and please the existing customers, tested product delivered ontime and easy to use does the trick and in this mode business to sustain must take to latest technology and systems, IKEA have always taken to modernation model which helped shorter at their walk in stores , on time scheduling and dispatching of goods to trading partners and end online customers using Radio Frequency Identification device(RFID) which have helped the supply chain following of IKEA , proper training to labour force within production line and at stores have also helped IKEA streamline their business model. Legal Factors: IKEA follows legal parameters down right to the last point as in evry country they have their businesses, In some countries logging is illegal and in some countries locals along with international peace organisation protest against wood based Industries , IKEA keeps all these government law, regulations and local concerns in mind and takes to fair business trading, Environmental Factors: IKEA maintains and sticks to International stated standards across the global when it comes to Enviornment , IKEA follows that to present a positive corporate Image they have to keep note of local and International concerns on environment, keeping these factors IKEA have taken to sustainable business practices format in relation to air,water and noise pollutions in terms of their finished products. IKEA forest practise is encompassed within their IWAY which specifies labour ,environment and forest management for itself and its suppliers Internal Analysis IKEA since its inception with its vast experience in the Furniture segment and Cost management, best business practice and product differentiation have turned the brand into a International name in the Home appliance retail business , IKEA with its Strengths and different Opportunities have its own Weaknesses and faces Threats from certain determined and some unforeseen conditions. SWOT analysis for IKEA: Strengths: IKEA have over the years able to place themself as a household brand in the Home appliances segment across continents across communities and across the Economical class. IKEA vast network of stores,malls ,partners and supplies along with their Customer and market based pricing model keeps the Sales growth not to fall down below a level even in tough economical crisis. IKEA with years load of experience in the Home Applicance business have Product specialists who comes handy to design sleek attractive product at affordable prices for the end user. Weaknesses: IKEA believes in following Strick Labour and Environment policies set by local government , however due to their sheer volume of Global Business it might happen that in some countries local partners may not be following all the policies to the full spirit which might bring down the Image of IKEA in the eyes of the end Consumers who are conscious and concern for these Issues. IKEA even thou is a Established across continents the bulk of the Revenue comes from european market where 90% of its Stores are based. IKEA even thou employes latest technology right from purchasing of raw material to the despatching of the finished product , their Customer service model is still contact based and in this day and night age of having 24*7 voice based customer service some customer may get swayed across by competitors advertising their customer service as being best to current world following. Opportunity: IKEA pricing model have attracted people from all Income groups in Europe and America and since IKEA is concentrating on Asian market specially India and China with such a large middle class population that are cost conscious , IKEA business model will be best suited for growth in these price conscious based market. IKEAs vast years of experience in this segment helps them to design products as per local community and changing market needs. Threats: IKEA since is spread worldwide any Change in Political and economical needs due to religious, cultural and political uprising for example the current situation in the middle east where locals are up against Administration for seeking implementation of democracy could affect the overall business model in short and the long term plans in-terms of Sales growth and revenue generations. Uprising in terms of political,cultural and religious Issues which could lead to rise in fuel price which in turn could lead to increase in distribution cost affecting the supply chain link and the pricing model of IKEA. IKEA Partners who have been given franchisees rights could suddenly put in new conditions to the central IKEA management. IKEA main suppliers of raw material may run into problem again due to political,Cultural or religious uprising in the local government zone which could affect the overall supply chain link of IKEA. Porters five forces model for IKEA Power of the Buyers: Economical situations do alter the buying pattern across the globe however IKEA has a edge over its competitors as IKEA have always followed the a pricing model that is flexible to change in situation and caters to all class of customers to fit the buyers need. Power of Supplier: IKEA Utilizes the service of several third party suppliers for its product line who have to follow strick International standards laid down by IKEA. Normally suppliers try to set in conditions in midst of their business relationship however uptill now IKEA have not faced such situation as IKEA have business relationship with several suppliers who competete with each other. Rivalry: Furniture brands cater to special styles and functionality for example Cratel Barrel have their product in a box format and is priced at a high end same goes for brand Wal-mat which again comes in box format even thou prices are at affordable range but they lack the style appeal.IKEA has very strong hold in the home appliance market and has become a house hold name across the world and their product line come in complete package and at a attractive price which keeps no scope for rival firms to adversely effect the Sales growth of IKEA. New Entrants: IKEA which is a established brand world wide there is little scope for new entrant to affect IKEA business in cities and towns where IKEA have a hold for their best pricing model , good supply chain link and their advertisement so it is difficult for new entrant to take on such a big brand name to have affect on growth sales of IKEA. Substitutes: IKEA have vast experience in the home appliance segment and have designers who have expertise in this segment and use latest technology and development in the home appliances segment so even if there is any new trend or development on the product line technology and style IKEA have resources who can come up their own to be in line with the needs of current trends. FUTURE: Strategic Direction for the future. All established Business enterprises have suffered on the profit margin charts since 2009 todate due to the economical turmoil that has hit across the world, IKEA in order to sustain the profit margins in future have to plan keeping current market situation in which many numbers have been made redundant, retained by employers at a reduced pay package and or their Increment have been freezed, IKEA have always attracted customers because of their attractive product which are priced at low end and IKEA which have their own research and design team who have years load of experience in this field will have to come out with products that are Multi-purpose, cost effective , cuts production costs and can appeal to large section of the society in midst of the economical recession. Some of the IKEA suppliers for example Shaw Wood at their Nova scotia plant took to Lean Management which goes on the concept of Faster, Better, Cheaper which helped Shaw Wood reduce production time,reduced production costs and reduced nonessential activities in the product line as everything happened as planned this helped IKEA directly , IKEA taking lessons from Shaw Wood supplier could seek to implement the same Lean management concept at its own production plants across the globe and also suggest its other suppliers to take to this route as production cost saved can partly offset rise in raw materials and fuel prices and this inturn will help IKEA in their low pricing model which can increase the Sales growth . Most of the business have moved major chunk of their selling directly to the customer via telephone booking and on-line booking , IKEA have always had a sucessful online selling model with nearly 450 million hits for FY 2007, IKEA should carry forward with their good advertisement concepts that capatures the local community and how IKEA product fits into the daily needs of their life plus IKEA could promote online Advertisements on different networking sites like Orkut and facebook as most of the end consumers have moved their shopping needs online and constant promotional based advertisements can tempt the online implusive shopper into going for the deal bargin. IKEA even thou employes latest technology right from purchasing of raw material to the despatching of the finished product , their Customer service model is still contact based and voice recorded based in this day and night age of having 24*7 live voice based customer service some customer may get swayed across by competitors advertising their customer service as being best to current world following IKEA have managed to sustain Sales growth inspite of the recession and their low price model by having good supply chain link, to continue further on this growth path IKEA should associate with local established suppliers on a long term basis and contracts that tides away uncertainities like fluctation of exchange rates ,increase in fuel costs or turmoil in the region of distribution by political or social uprising, to have good supply chain link IKEA needs to have a robost logistic system at their distribution centre which cuts costs as for moving the products around IKEA would need the use of trucks and trains, IKEA can go for cost effective by renting trucks instead of owning trucks from local established vehicle rental companies on a long term agreement contract as this would save IKEA distribution centres costs of vehicle Insurance, Vehicle breakdown , on Vehicle services and MOT as most of the vehicle rental companies include these as a package for their exclusive long term big customers. IKEA has a strong brand presence across the world in order to retain their brand Image specially taking legal,labour and environment concerns as there is large number of customers that are emotional over these Issues and going on wrong side could bring down the Image, IKEA will have to keep going with their ethical and moral following which they have been following and insisting their partners as well as suppliers to follow on the same track that is on complying with legal ,labour and environmental standards as laid by the government. Reference : Executive Summary http://www.ikea.com/ms/en_US/pdf/yearly_summary/Welcome_inside_2010_update.pdf http://franchisor.ikea.com/showContent.asp?swfId=store9 Recent Past. http://www.guardian.co.uk/business/2010/oct/01/ikea-profits-increase http://www.forexyard.com/en/news/IKEA-sets-growth-course-in-France-2010-09-28T093729Z-INTERVIEW-UPDATE-1 http://yourbusinessinrussia.blogspot.com/2010/10/ikea-publish-its-financial-reports.html http://www.ft.com/cms/s/0/b5b6ce42-bb68-11df-a136-00144feab49a.html#axzz1GRTmr3OZ http://www.ikea.com/gb/en/store/croydon/environment http://www.economist.com/node/6919139?story_id=6919139 http://www.ikea.com/ms/en_US/pdf/yearly_summary/Welcome_inside_2010_update.pdf http://franchisor.ikea.com/showContent.asp?swfId=store9 http://www.guardian.co.uk/business/2010/oct/01/ikea-profits-increase http://www.forexyard.com/en/news/IKEA-sets-growth-course-in-France-2010-09-28T093729Z-INTERVIEW-UPDATE-1 http://yourbusinessinrussia.blogspot.com/2010/10/ikea-publish-its-financial-reports.html http://www.ikea.com/gb/en/store/croydon/environment http://www.economist.com/node/6919139?story_id=6919139 Future growth http://www.ikea.com/ms/en_US/jobs/business_types/distribution_logistics/index.html IKEA Lean Management. http://findarticles.com/p/articles/mi_m3156/is_13_106/ai_n25038763/