FAQ Centre. Search Search. Years Show all years Show This month Show last 3 months Show last 6 months Our Year in Review We are deep into the first phase of our transformation programme and continue to make good progress restoring the basics and fixing many of the legacy issues we face. At this stage we are judging ourselves as much by the pace of change as by the trading outcomes, and change will accelerate in the year ahead. Transformation taking shape. Food: Accelerating our innovation timeline This year we launched 'Our Best Ever Prawn Sandwich', packed with plump sustainable Atlantic king prawns in a glossy Marie Rose sauce which was developed by our in-house chefs.
Food: Launching relevant products and ranges In January we launched our Plant Kitchen range, a brand new collection of 60 plant-based products, aiming to broaden our appeal to more customers looking for vegetarian or vegan options. Full Annual Report 6. Traditional barriers like high capital investments for construction of large physical storefront are being constantly reduced or eliminated with the growth of the internet. Businesses desirous of entering industries like clothing can compete in a virtual environment without a physical storefront.
Many alternatives exist in the food, clothing and general merchandise industry; therefore, the threat of substitutes is high. The bargaining power of buyers is high as customers have many retailers to choose from ranging from Tesco and Sainsbury in the food sector to Next, George at Asda and Zara in the clothing sector.
In contrast, the bargaining power of suppliers is low as buyers have many choices. Suppliers have reduced power over quality, price and delivery terms. With the increasing use of the internet, customers can compare prices from different suppliers easier and make an almost seamless switch from one supplier to the next.
Figure 1. Grant , p. The clothing market in the UK has entered the mature stage; however, the economies of Russia, India, China, and Western Europe are in their growth phases and provide opportunities for international expansion. Focusing on internal resources and capabilities to sustain competitive advantages rather than relying on industry attractiveness Grant , p.
David , p. Developing new resources and competencies that cannot be easily imitated would be key to achieving competitive advantages in the future. The primary activities illustrated in Figure 3. On the other hand, support or secondary activities do not add value directly but help to improve the efficient delivery of the primary activities. The matrix presented in Table 3. Table 3.
Increase international expansion Growing use of the internet make Continually update website to outside of the UK mature customers better informed improve customer experience and market.
The existence of separate divisions based on products, services and geographical areas is described by Johnson et al. Working to only overcome the challenges and exploit the opportunities in the external environment are not sufficient to reap the desired benefits available to the company.
The significant rise and fall in share prices up to July , speaks to the fact that expected performance outcomes have not yet met the expectations of shareholders.
Figure 4. Product development In product development, new products are introduced to existing markets. The challenge to expand into new markets is in already in train as plans are afoot to open stores outside of the UK within the next three years and increase stores in India to by The Telegraph Diversification Through a diversification strategy new products are developed for new markets; usually viewed as a risky option since it may be outside the core competences of the organisation.
The emerging economies of Russia, India and Western countries provide opportunities for innovative products to be marketed for example introducing Western cuisine into its food lines.
In addition, despite the attraction of increasing internationalisation, timing as well as the elements of the PESTEL framework are key factors that must be taken into consideration as these can impact the success or failure of any strategy being undertaken. As part of our efforts to emerge stronger from the pandemic under our Never the Same Again programme, in March we announced a proposal to redevelop our flagship store on Oxford Street — Marble Arch.
First opened in , the building has been expanded and altered many times and as a result, despite being a much loved store, today offers an inefficient and confusing experience for customers. Cookies Policy We use cookies to ensure that we give you the best experience on our website.
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