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M&S VideoManagement > Crisis Management > Lectures > Independent Research > M&S video
M&S VideoMarks and Spencer was a paternalistic, top-down company. Its principles never wavered, and while this was the key to its success in the beginning, by the end it was its downfall. It was the most successful retailer in history, but it stumbled and fell in one year.
In the Beginning1894 - M&S was founded, established as a penny bizarre, a concept borrowed from Woolworths. The values of the firm included pricing, commitment to value and quality. The close knit family and its values permeated the entire firm. Marks the man. The St Michael brand was created after Simon Marks' father. The company was based on the belief in the continuing growth of the middle class. Marks was very authoritarian in board meetings and pushed to do the things he wanted. Marks treated everyone the same, he was very strict and had an obsession with quality. He personally inspected and liked the products his store sold. Marks paid close attention to what his customers wanted and gave it to them. Marks was very patriotic and had a strict "Buy British" policy. Indeed, in the post-war period, this was a good attitude to have and it made M&S appealing to customers. Products. Underwear became a hallmark of St Michael's quality. It was the best-selling line and was seen as very modern. New technologies were used to develop innovative designs, including stretchy bras. In the austere post-war period, M&S supplied exotic fruit. It had better fridges and logistics channels, which resulted in a huge growth in sales. Suppliers. The suppliers were totally reliant on M&S for work, which means it could impose stringent conditions, but it also meant a guaranteed future for the suppliers. Sales assistants. The sales assistants were seen as better than other shop girls. "They could be the daughters of Dukes and Duchesses"
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