Introduction Fasam System

Requirements Document Purpose Introduction The primary goal of this document is to provide a complete and accurate list of requirements for a Fire and Security Alarm Monitoring System. Upon completion, the document will act as a binding contract between developers and users and will provide a common point of reference for system Document Conventions Although this document is intended as a set of Requirements, not a design, some technical information has been included with the requirements description. Intended AudienceThe primary audience of this document includes, but is not limited to, project leaders, the designers and developers of the system and the end user. (Reference 1) Background Team International is primarily a software developing company specialising in fire and security alarm monitoring system (‘FASAM’). Team International has been awarded the contract to supply and implement a FASAM for Everett & Co. The building in question is a new building, so there is n o previous FASAM system installed. The building in question consists of 2 floors, each floor consisting of 12 ffices. The building will be grouped in ZONES. Zones will consist of x-amount of offices. Below is an example of this. Keep in mind that this is not the actual zone layout representation but just an example to illustrate how the zones will work. [pic] Each zone shall be equipped with various sensors which will monitor for and detect certain threats. Each zone shall have security / fire doors installed which the FASAM will have control over in regards to locking and unlocking depending on the threat.Team International has decided, after gathering the requirements, that an automated system with a manual over-ride option, which will be connected to a central control room, will best suit the needs of Everett & Co. Product Scope Processes involved in the project scope The development of this system will include the gathering of the requirements, outline the architecture design us ing CORE modelling, creating a prototype based upon the proposed user interface and the requirements validation which will all help to contribute to the initial development of a FASAM for Everett & Co.Gathering of the requirements: The input for this shall come from interviews with the client. The knowledge gained from the input will help create the Requirements document. Outline the architecture: The input for this shall come from the requirements document. The knowledge gained from the document will contribute to help producing systems architecture and a systems model. Creating a prototype: The input for this shall come from the requirements document.The outcome of this will be a working prototype of the system. Requirements validation: The input for this section comes from the three previously mentioned stages. The outcome will be a produced validation document highlighting the pros and cons of each stage. Limits and constraints of the project scope Obviously with Team Internatio nal being primarily a software producing company, there is a lack of knowledge in regards to certain hardware elements.That is why this project will not cover the configuration of sensors due to the fact that when Team International purchases the sensors from the supplier, the suppliers implement the required configuration settings for the sensors. In regards to the sensors, all Team International does is install the sensors and connect them to the main user interface system. This process shall only cover the developing of a fire and security threat system.

Center For Writing Excellence Essay

All resources available at CWE is aimed at the capacity edifice of the pupils to grok the authorship manners and therefore enables them to bring forth comprehensive. perfect and original documents. These assisting resources range from Grammar ushers to package tutorials. The first set of tutorials includes grammar usher and common English mistakes which help out pupils in developing a perfect manner that is barren of grammatical defects. The following set of tutorials is assorted instructions about developing and forming instance surveies. lineations and annotated bibliographies and utilizing APA commendation manner. It besides contains assorted paradigms that help pupils understand use these assorted types and forms of composing. Following in the series are assorted tools and packages that help pupils forming their authorship stuff. It includes â€Å"Citation Generator† and â€Å"Thesis Statement Generator† . The forms and processs about composing an essay is an of import usher. In terminal the CWE offers assorted ready to hand tutorials about assorted MS softwares that enable pupils to larn and utilize these packages more efficaciously. For me. the two most of import resources are the Grammar and Writing Guides and Essay Guidelines. CWE has devoted a complete web site to Grammar guideline that manifests the importance of grammar in the authorship procedure. I was ne'er well-versed in grammar and this affected my writing manner. This grammar mechanics helped me to a great extent to take my blemished writing manner and to develop a new technique with least grammatical mistakes. The trials helped me greatly to understand my present degree and inculcated in me a spirit to better my grammar and informal look. Essay usher is the other available resource stuff that helped me to hold on assorted stairss involved in bring forthing a good essay written with a intent and for an intended audience. I ne'er had a wont of revising my written stuff but these guidelines compelled me to reexamine my Hagiographas.

Holly Fashion

cASE 6 HOLLY FASHIONS RAT I O A N A LYSI S Billion-dollal a pparel c ompanies s uch a s C alvin K lein a nd L iz C laiborne a re unusual i n t he g arment i ndustry, w hich c onsists p rimarily o f m uch s malier apparel m akers. O ne s uch f irm i s H olly F ashions ( HF), l ocated i n C herry F lill, New J eriey. H F w as s tarted 1 4 y ears a go b y W illiam H amilton a nd J ohn W hite, who b etween t hem h ad o ver 2 5:yearso f e xperiencew ith a m ajor g arment m anufacturer.A nd t he p artnership i nitially b lended v ery w ell. H amilton, r eserved and i ntrospective, i s e xtremely c reative w ith a r eal f lair f or m erchandising a nd trend s potting. M ainly a s a r esult o f h is g enius, t he H F l abel i s s ynonymous with q uality a nd † tn† f ashions. ‘ h ite, o Utgoing a nd f orceful, h as c ontributed important m erchandising a nd m arketing i deas, b ut h as m ainly a ssumed t he duties o f t he f irm's c hief o perating o fficer.Hamilton h as h a d l ittle i nterest i n t he f inancial a spectso f t he c ompany, m uch preferring t o w ork o n d esigning n ew f ashions a nd t he d evelopment o f m arketing s trategies. A f ew m onths a go, h owever', h e d ecided t hat h e h ad b etter' become m ore i nvolved w ith t hd c ompany's f inancials. His m otivation i s t wofold. F irst, h e i s c onsidering t he s ale o f h is 5 0 p ercent interest i n H F. T hough h e m joys t he c reative s ide o f t he b usiness,h e i s t ired o f the c ash c runches t hat t he f irm h as e xperiencedi n r ecent y ears.P eriodically, t he retailers H F d eals w ith h ave e ncountered f inancial p loblems a nd h ave s tlung out t heir p ayments, w hich o ften c aused a m ad s cramble f or c ash a t H F A nd i f Hamilton d ecides t o s ell, h e k nows t hat h e i s l ikely t o b e i nvolved i n s ome stressful n egotiations s urrounding t he c ompany's v a1ue. T hough h e w ould h ire a c onsultant t o a id h im i n a ny,negotiations,h e d ecides i t i s a g ood i dea t o e ducate h imself a bout H F's f inancials.Another r eason t hat H amilton i s i nterested i n t he f irm's f inancials i s s o h e can b etter j udge t he m anagerial c ompetence o f l Alhite. Ahen I IF w as s mall Hamilton t hought W hite d id a f ine j ob, b ut n ow h e w onders w hether / hite i s capable o f r unning a f irm a s l arge a s H F. A ctually, i f H amilton w ere c onvinced that W hite i s a c ompetent m anager, h e w ould n ot c onsider s elling o ut s ince h e 36 PARTI I F INANCIALA NALYSIS genuinely e ntoys b eing a n o wner o f a n a pparel f irm.B ut h e t hinks t he a pparel industry w ill f ace e ven t ougher t imes i n t he n ext f ew y ears, a nd w onders i f ltrhite i s t alented e nough t o s uccessfullym eet t hese c hallenges. BORROWING CONCEB. NS A4rite's p ersonality i s s uch t hat h e m akes v irtually a ll m ajor o perating a nd financial d ecisions. A n i mportant e xample o f t his w as h is d ecision t hree y ears ago t o r etire a ll l ong-term d ebt/ a m ove t riggered b y W hite's f ear t hat H F's b usiness r isk w as i ncreasing.H e c ited t he d ifficulties o f s eemingly r ock-solid r etailers l ike B loomingdale's a nd C ampeau t o s upport h is c laim. I M-Lite i s a lso concerned t hat f irms t he s ize o f H F h ave h ad d ifficulty m aintaining s table b ank relationships. D ue t o i ncreasingly s trict f ederal r egulations, s ome b anks h ave called i n l oans a t t he s lightest t echnicality, a nd m ost a re s crutinizing n ew b usiness l oans v ery c arefully. C onsequently W hite v iews b ank d ebt f inancing a s â€Å"unreliable† a nd t hinks t hat l oan o fficers a re c apable o f † chewing u p m y t ime. Harnilton isn't sure what to make of these arguments, but he is concerned that this debt avoidance has significantly reduced FIF's financial flexibility because it means that all protects will have to be equity financed. In fact, over the past five years t here h ave b een n o d ividends b ecausea ll e arnings h ave b een r einvested. And two years ago each of the partners had to contribute $15,000of capital in order to m eet t he c ompany's c ashn eeds. A nother i nfusion o f c apital m ay b e n ecessary sincet he f irm's p resentc ashp osition i s l ow b y h istorical s tandards. ( See xhibit 2 . E More j mportantly, h owever, H amilton f eels t hat t he c ompany i s n ot b enefiting f rom t he l everage e ffect o f d ebt f inancing, a nd t hat t his h urts t he p rofitabiiity o f t he f lrm t o t he t wo o whers. WORKING CAPITAL CONCERNS Hamilton s uspectst hat F {F'si nventory i s † excessive† a nd t hat † capital i s u nnecessarily t ied u p i n i nventory. † n/hite's p osition i s t hat a l arge i nventory i s n ecessary t o p rovide s peedy d elivery t o c ustomers. H e a rgues t hat † our c ustomers expect q uick s ervice a nd a l arge i nventory h elps u s t o p rovide i t. Hamilton is skeptical of t his argument and wonders if there isn't a mole efficient w ay o f p roviding q uicker s ewice. H e k nows t hat a c onsultant r ecommended t hat H I † very s eriously† c onsiderb uilding a s tate-of-the-artd istribution center. T he p roposed f acility w ould a liow F {F t o r educe i nventory a ld a lso handle big orders from retailers such as Kmart and Wal-Mart. VVhite rejected the suggestion a rguing t hat t he e sttnated $ S-million t o $ 8-mi11ion ost i s e xcessive. c Hamiiton a lso q uestions / hite's c redit s tandards a nd c ollection p rocedures.Hamilton t hinks t hat / hite h as b een q uite g enerous i n g ranting p ayment extensions t o c ustomers, a nd a t o ne p oint n early 4 0 p ercent o f t he c ompany's receivablesw ere m ore t han 9 0'davs o verdue. F urther. / hite w ould c ontinue t o . C ASE6 H OLLYF ASHIONS 37 accept and ship orders to these qetailers eyen when it was clear that their ability t o p ay w as m arginal. l hite's p osition i s t h at. he d oesn't w ant t o l ose s ales and that the rough times these retailers face are only temporary. Hamilton also wonders about the wisdom of passing up trade discounts. HF is frequently offered terms ol 1. 1. 0, net 30. That is, the company receives a l-percent discount if a bill is paid in ten days and in any event full payment is expected within 30 days. ffiite rarely takes these discounts because he â€Å"wants t o h old o nto o ur c ash a s l ong a s p ossible. † H e a lso n otes t hat † the d iscount isn't especially generous emd 99 percent of the bill must still be paid. † FINAL THOUGHTS Despite ill of Hamilton's concems, however, the retationship between the two partners has been relatively smooth over the years. And Hamilton admits that he may be unduly critical of y'hite's management decisions. After al1,†he concedes, † the m an s eems t o h ave r easonsf or w hat h e d oes, a rd w e h ave b een i n the black every year since we started , which is an impressive record, really, for a f um i n o ur b usiness. † Further, Hamilton has discussed with two condultants the possibility of selling his half of the firm. Since FIF is not publicly traded, the market value of the company's s tock m ust b e e stimated. T hesec onsultants b elieve t hat H F i s w orth between $55 and $55 per share, figures that â€Å"seem quite good† to Hamilton. QUESTIONS 1 Calculate the firm's 1995ratios listed in Exhibit 3. . P art o f H amilton's e valuationw ill c onsisto f c omparingt he f irm's r atios t o . the industry numbers shown in Exhibit 3. (a) Discuss the limitations of such a comparative financial analysis. (b) In view of these limitations, why are such industry comparisons so frequentlym ade? 3, Hamilton thinks thai the profitability of the firm to the owners hasbeenhurt by White's reluctanceto use ftuch inteiest-bearing debt. Is this a reasonable position? E xplain. 4. The case mentions that {hite rarely takes trade discounts, which are typically 1 /10, n et 3 0.D oest his s eeml ike a w ise f inancialm ove? E xplain. 5. C alculatet he c ompany'sm arket-to-book dV/BV) r atio. ( Therea re 5 ,000 O shares f c ommons tock. ) o 6. Hamilton's position is that White has not competently managed the firm. Defend this position using your previous an. swers nd other information in a the c ase. 38 PARTII FINANCIAL ANALYSIS 7. Vy'hite's position is that he has effectively managed the firm. Defend this position using your previous answers and other information in the case. 8. Play the role of an arbitratoi.Is it possible based on an examination of the firm's r atios a nd o ther i nformation i n t he c aset o a ssessW hite's m anagerial competmce? Defend your position. 9. ( a) A re t he r atios y ou c alcul:ited b ased o n m arket o r b ook v alues? E xplain. (b) W ould y ou p refer r atios b ased o n m arket c ir b ook v alues? E xplain. EXHIBIT 1 Holly F ashions'I ncome S tatements:1 993-1996 ( 000s) 1993 Sales Costo f g oods Grossmargin Adrrinistrative Dq)reciation EBIT lnterest EBT Taxes Net income 1994 1995 1996 $985. 0 748. 6 236. 4 169. 4 10. 8 56. 1 7. O 49. 1 19. 7 $1,040. 0 n4. $1,236. 0 $1,305. 0 978. 8 202. 8 1 14 51. 0 4t. 0 18. 0 $27. 0 a7a', 307. 8 236,I 13. 6 58. 1 53. 1 21. 7 _-$3L9 249. 3 '14 4 62. 6 58. 5 23. 5 ___$99! EXHIBIT 2 BalanceS heetso { t he H olly F ashionsC ompany: f 993-1996 ( 000s) 1993 ASSETS Cash $40. 4 Receivables r53. 2 Inventory 117. 0 5. 9 Other cwrent Current assets ‘u. 8 Grossf ixed Accumulaied depreciation (12. 0) 32. 8 Net fixed Totala ssets $349. 3 1994 1995 1996 $s1. 9 158. 9 121. 1 6. 2 338. 0 58. 9 (23. 4) __35t $38. 6 ‘t75. 1 $10. 6 224. 8 19L. 9 7. 8 435. 1 96. 4' (s1. 4) 45. 0 $480. 1 193. 4 7. 4 414. 5 78. 1. _a;l continued) C ASE6 H OLLYF ASHIONS 39 EXHIBIT 2 (Contirwed) t993 LIAB]LITIES & NET WORTH Accounts payable Debt due Accruals Current liabilities Long-term debt Common s tock Retained e arnings Total L &NW $53. 8 10 . 0 | 1 9. 7 , 8 3. 5 60. 0 150_0 1994 1995 r996 $v. f $85. 2 10. 0 24. 7 120. 9 40. 0 180. 0 114. 6 $u. 2 10. 0 26. L 120. 3 30. 0 180. 0 149. 8 $48q. 1 10. 0 26. 0 90. 7 50. 0 150. 0 82. 8 $349. 3 $455t EXHIBIT 3 Financial R atios { ot t hb H olly F ashionsC ompany: 1 993-1996 Ind*r11 (Presen] r993 r994 1995. 3. 7 3. 4 2. 6 ‘L7 1. 8 1. 3 1. 6 .8 r996 1993-19961. Liquidity RatiosCurlent Quick Leverage atios R Deb(%) 41.. 1 37. 7 35. 3 8. 0 8. 5 11. 6 6. 4 6. 4 4. 8 FixedA sset Turnover 30. 0 29. 3 30. 1 TotalA sset Turnovet 2. 8 2. 8 2. 7 Timesinterest eamed Activity Ratios lnventory Tulnover (CGS) 47 57 71 3. 9 1. 3 8. 1 6. 0 40 25 72 3. 5 2. 8 2. 0 (continued) P ARTI I F INANCIALA NALYSIS DGIIBIT 3 (Conrinued) Ifld – r) 1993 1994 1995 AverageCollection Period Days Pulchases Outstanding** (Present) 1996 1993-1996+ 50 68 18 31 25 32 ProfitabilityR atios M Gross argin ( %) 24. 0 25. 5 24. 9 Net Profit Margin (%) 3. 0 2. 6 2. 6 Return on Equity (%) 14. 3 11. 6 0. 8 8. 4 7. 2 7. 0 5. 8 6. 0 6. L Retum on Total ( Assets %) Operating Margin*** (%) 26 3. 1 ‘1. 2 27. 3 19. 5 7. 8 11. 8 8. 7 9. 9 7. 2 3. 1 iThe thrâ‚ ¬e numbers for each ratio arc comPuted in the following wsy. Ratios for all firms in dre indushy are arranged in what is considerâ‚ ¬d a strontest-to-weakest order' The middle number rePlâ‚ ¬senis the median ratioj that is, half the firms in the industry had mtios better than the median ratio and half had ratios that werâ‚ ¬ worse The top nunlber represents the uPPer qua4ile figure; meaning 25 Pelcent of the firms had ratios befter tlran this.The lower number represents the lowest quaftile, that is, 25 Percent of the firms had ratios worse than this. *†This shows the average lentth of time that trade debt is ouhtandint. AIso caled the averate Paymeni Period. Calculated ; is A /P – ( CGS/360). 1**Calculateda s ( EBIT + D ep)/Sales.

Claims Essay Example | Topics and Well Written Essays - 1000 words

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Inevitably is always better than large organizations at making innovations - Essay Example Small and medium-sized enterprises are business enterprises which are seen to variously exhibit some common characteristics, which are; these business enterprises employ an average of up to about 250 employees, they have an annual turnover that is approximated as being not more than ?50 million and their management is also seen as largely independent in addition to being free from any outside control and influence in taking various principal decisions (European Commission, 2013). The Role/Place of Small and Medium-sized Business Enterprises in the Economy SMEs are important to all the different economies in the world, this is especially so to those economies found in the world’s developing countries that happen to be struggling with income distribution and employment challenges. During the 1980s, the total turnover, stocks and employment in most of the firms operating a wide range of business activities and services in the United Kingdom was seen to record spectacular growth. This growth was witnessed in the operations of all the large and small business enterprises. ... The number of SMEs within the United Kingdom has managed to record rapid growth during both the 1980s and the 1990s with estimates showing growth margins of from 57 percent to an average of 67 percent (Analoui and Karami 2003). The United Kingdom’s over 3.7 million SMEs are approximated to account for about 40 percent of the country’s total GDP. The SMEs also generate an annual turn over of about one trillion pounds in addition to employing approximately over 12 million people. Of the 2.3 million jobs that were created in the United Kingdom by the formation of new businesses between the years ranging from 1995 through to 1999, SMEs account for about 85 percent of this figure while they also accounted for more than 50 percent of the more than 3.5 million jobs that were gained as companies in the United Kingdom expanded over the same time period (Analoui and Karami 2003). Despite small firms accounting for such a large portion of the country’s GDP, Britain has been show to be relatively poorly endowed with small firms (Nelson, 1993). As a consequence of the trend showing constant growth of SME’s both in the United Kingdom and the world, SMEs have been noted as accounting for an average of about 99 percent of all businesses in the United Kingdom, while globally, SMEs are seen to account for business enterprise in excess of 99 percent of all the businesses that have been established. It is due to this that SME are considered to be the largest contributor to both the gross domestic product and the employment rates of all the countries in the world (Nwankwo and Gbadamosi, 2010). In order for SMEs to compete successfully and improve their chances of

Marks ; Spencer Group Anaylsis Essay Example for Free

Marks ; Spencer Group Anaylsis Essay Marks and Spencer Group plc  © MarketLine Page 2 Marks and Spencer Group plc Company Overview COMPANY OVERVIEW Marks and Spencer Group (MS or 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 MS 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 16. 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 Ticker MKS Marks and Spencer Group plc  © MarketLine Page 3 Marks and Spencer Group plc Business Description BUSINESS DESCRIPTION MS 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. MS 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. MS operates over 361 owned and franchised 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 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 womens wear, mens wear, lingerie, childrens 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;S offers its products and services online as well as through flagship stores, high street stores, retail park stores, M;S 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;S 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, MS 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 DAllairds, a national womens 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 couldnt 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, MS announced the launch of its more credit card. Alongside this, Marks Spencer Financial Services was re-branded Marks Spencer Money. In 2004, MS completed the sale of Marks Spencer Retail Financial Services Holdings (MS Money) to HSBC. During the course of 2005, the company opened 31 Simply Food stores as well as closed the Lifestore project in the UK. MS expanded the 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, MS sold Kings Super Markets, its only non-MS 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, MS and two of its long-term suppliers decided to star t the development of MS first 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;S. Fur ther in the year, M;S launched school wear made from recycled plastic bottles. The companys first standalone home store in Lisburn, Nor thern Ireland was launched in 2007. In the same year, MS launched Big Tall, an exclusive online mens wear offering more than 450 items online ranging from tailoring to knitwear to casual shir ts and trousers. Also in 2007, M;S reduced saturated fat level as much as 82% in more than 500 companys 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 History Towards the end of 2007, a new Made to Measure shir ts ser vice was launched by MS, which allowed customers to design a tailor-made shir t within 21 days. The company added new products to its mens wear por tfolio in FY2008. M;S also launched climate control underwear featuring temperature regulating technology developed by NASA, expanded Collezione brand collection by introducing new shoes, wool and cashmere mix trousers. M;S 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;S 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;S then entered into a par tnership with Scottish and Southern Energy, as per which M;S Energy would supply electricity and gas to domestic customers and reward them with M;S store vouchers for helping the environment by reducing their energy usage. M;S 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;S 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;S 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;S also launched a beer and cider range to complement its wine selection. M;S 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 online international deliver y service to 73 more countries as par t of a drive to grow annual sales of M;S Direct. The company began its offering within the homeware sector in 2009. M;S announced plans to open a store in Marbella, Spain by the end of 2009. In the same year, M;S 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;S 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 Morpeths Sanderson Arcade in the same year. MS decided to launch Simply Food in Western Europe. Fur ther in 2009, the company announced plans to sell a selected range of around 400 branded grocery and 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, MS launched a new Home Energy Service division that would offer customers a suite of energy efficiency products and services. Building on the success of MS 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, MS announced a program to be the worlds most sustainable retailer by 2015, launching 80 major new commitments under M;S eco and ethical plan, Plan A. The new commitments will mean that the company ensures all MS products become Plan A products with at least one sustainable quality. This program will also enable the companys 2,000 suppliers to adopt Plan A best practice and encourage M;S customers and employees to live greener lifestyles. Fur ther in 2010, M;S 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;S launched England Football team suit exclusively in M;S 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. Thi s warehouse in the UK will serve all the companys stores with furniture products and store equipment. Later in 2010, MS 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, MS 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, MS 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 worlds most sustainable major retailer by 2015. The company opened 20 stores in the UK during FY2011, including 17 Simply Foods. In international, M;S 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 with latest M;S financial news. In the following month, M;S 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;S is the first major retailer to commit to full traceability for non-food products. In September 2011, M;S opened a new store at Westfield, Stratford City with the latest ‘Only at Your M;S innovations and customer experiences. In the following month, MS 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. MS, in February 2012, launched its outlet format on its website at www. marksandspencer. com/outlet. MS Outlet will permanently offer a selection of more than 1,300 quality MS clothing products 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, MS 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 plc Key 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 Steven 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 Board Non 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 McIntosh Director, Store Marketing and Design Senior Management Steve Rowe Director, Retail Senior Management Darrell Stein Director, Information Technology and Logistics 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 AWAS, 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 Spencer 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 MS 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 Kleinwor 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. Swannell 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 Citis 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 Waterstones, 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 Chief Executive Officer at National Grid. Prior to that, Mr. Holliday served as the Director of UK and Europe and was responsible for the UK Elect ricity 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. Previously, 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 Diageos 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 Relations Mr. 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 Communications 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 ATT 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 Biographies Board: Senior Management Job Title: Director, Store 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 became 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;S 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 Vodafones 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 Major Products and Services MAJOR PRODUCTS AND SERVICES MS is one of the leading retailers of clothing, foods and homeware in the UK. The companys key products and services include the following: Products: Womens wear Mens wear Lingerie Childrens wear Footwear Food and grocery items Homeware and home accessories Kitchen 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 companys largest geographic market, accounted for 89. 7% of the total revenues. M;S 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;S 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 SWOT ANALYSIS MS 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 MS. 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 MS etched a highly effective CSR strategy MS 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 MS to boost revenues Focus on China and India can lead to expansion in two of the fastest growing markets Surge in shoplifting 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, MS 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, MS 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. MS 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, MS 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. MS’ 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 MS has a strong market position in the clothing segment. With more than one in 10 clothing items bought from MS, the company ranks amongst the three largest clothing retailers in the UK. According to a repor t released by Verdict (Datamonitors retail arm) in May 2012, M;S 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;S 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;S 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;S seventh in the global depar tment store market with a share of 3. 2%. This market leadership enabled M;S 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;S 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 MS continues to grow its 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. MS 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;S 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;S 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;S etched a highly effective CSR strategy M;S 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 companys 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 MS 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, MS launched a TV adver tising campaign focusing on its ethical, environmental and health-conscious credentials, highlighting 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 MS 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 CSR become core to M;S 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, MS 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. MS 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 plc SWOT Analysis By actively promoting a products greener attributes (for example fewer, more recognizable and natural ingredients), retailers such as M;S have positioned products as improving ones 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, MS will benefit due to its reputation of being a responsible retailer. Weaknesses MS legacy stores and systems are a competitive disadvantage MS suffers some competitive disadvantages compared to Tesco, which has been able to drive earnings before int erest 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 MS 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. MS 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 MS 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, MS’ 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 not able to meet customer demand for 300,000 knitwear garments under the MS 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 MS 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 MS 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. MS Direct’s sales increased from ? 413 million (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, MS Direct’s sales increased by 11. 7% with more than three million visitors per week. Thus, by leveraging its online presence, MS 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 mar kets 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. Asias 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 coupled 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 ys 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 Spe ncer 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 Indias 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;S 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 companys 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 continues. Indian and Chinese markets would provide a huge potential revenue base for MS. 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 MS 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 with their spending especially due to soaring petrol prices, tax increases and uncer tainty over jobs. The UK is the key market for MS. In FY2011, the UK accounted for 89. 7% of MS 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 UK Labor 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 companys 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 national minimum wage is expected to increase to ? 6. 19 per hour (9. 63 per hour) from October 2012. In FY2011, MS employed 78,169 people. Increasing labor costs can adversely affect the companys 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 plc NEXT 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 company’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;S during the unsolicited takeover attempt in 2004, when I led the advisory team that helped put the M;S 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;S – 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 business is not just the right thing to do; it is also fundamental to our long-term success. Performance In a challenging marketplace M;S 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;S 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. Dividend We 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 (last 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;S 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 highligh ted the real enthusiasm of the directors in suppor ting a shared ambition: to guide M;S to the ver y best future. We know that you expect high standards from M;S; 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;S 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 Bolland 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;S was at a low ebb. He restored confidence in M;S, 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;S 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 ahead Our 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 enable 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;S 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  © MarketLine Page 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

Topshops Commitment to the Environment

Topshops Commitment to the Environment Topshop is a British clothes retailer with stores in over 20 countries and online operations in some of its markets. Topshops sales primarily come from womens clothing and fashion accessories. It is part of the Arcadia Group, which owns a number of other retail outlets including Burton, Dorothy Perkins and Miss Selfridge. The chain was founded in 1964 as Peter Robinsons Top Shop, a young fashion brand within the Sheffield branch of the Peter Robinson Ltd ladies fashion store chain (former department store chain). The first standalone Topshop store was opened in 1974. In 1978, Topman was created as a spin-off brand to cater for male customer and is now run as a separate chain, although some stores are co-located. The Gap, Inc. is an American clothing and accessories retailer based in San Francisco, California. A specialty retailer offering clothing, accessories and personal care products for men, women, children and babies. With more than 134,000 employees and about 3,100 company-owne d stores and 175 franchise stores, our presence is felt around the world The company has five primary brands: the namesake Gap banner, Banana Republic, Old Navy, and Athleta. As of September 20010, Gap, Inc. has approximately 135,000 employees and operates 3,076 stores worldwide. Gap Inc., seek to make lasting, positive impressions on the people and communities where the company operate Next. is a British retailer marketing clothing, footwear, accessories and home products. The company has over 550 stores throughout the UK and the Republic of Ireland, and 50 franchise branches in Europe, Asia and the Middle East. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. Next has three main outlets: Next Retail, a chain of 500+ retail stores in the United Kingdom and Eire; Next Directory, a home shopping catalogue and Website with more than 2 million active customers, and Next International, with 180+ international stores. Zara is a Spanish clothing and accessories retailer based in Galicia. It is the flagship chain store of the Inditex group; the fashion group also owns brands such as Massimo Dutti, Pull and Bear, Stradivarius and Bershka. It is claimed that Zara needs just two weeks to develop a new product and get it to stores, compared with a six-month industry average, and launches around 10,000 new designs each year. Zara was described by Louis Vuitton fashion director Daniel Piette as possibly the most innovative and de vastating retailer in the world. Zara has also been described as a Spanish success story by CNN. As of 2011 Zara stores have mens clothing and womens clothing, each of these subdivided in Lower Garment, Upper Garment, Shoes, Cosmetics and Complements, as well as childrens clothing (Zara Kids). The Environmental Protection Act 1990 is an Act of the Parliament of the United Kingdom that as of 2008[update] defines, within England and Wales and Scotland, the fundamental structure and authority for waste management and control of emissions into the environment. Duty of Care Every store has to waste properly and prevent it from harming the environment and also ensure that all waste collected from the stores is transferred to an authorised person such as the local council or a waste contractor. Packaging waste regulations These apply to larger stores and require them to recover and recycle a certain percentage of their packaging waste. The regulations currently apply to companies with an annual turnover of over 2 million and which handle more than 50 tonnes/year of obligated packaging. Landfill tax The Government imposes a tax on all waste sent to landfill. This tax is designed to penalise the excessive use of landfills and to encourage businesses to reduce and recycle waste. This is one of the reasons why the cost of trade waste collections has gone up and will continue to increase. Topshop COMMITMENT TO THE ENVIRONMENT: Reducing impact on the environment and Endeavour to limit consumption of valuable resources. constantly developing ways to increase efficiency and reduce energy consumption in companys operations. Reducing packaging Gap,inc. COMMITMENT TO THE ENVIRONMENT: the product groups who seek sustainable design solutions. store managers who conserve energy and reduce waste. the denim laundries that meet high wastewater standards. Next. COMMITMENT TO THE ENVIRONMENT: improve energy efficiency and reduce energy use. minimise waste produced and increase the quantity recycled. increase the efficiency of our delivery fleet. Zara COMMITMENT TO THE ENVIRONMENT: to develop in-store sustainability and energy efficiency standards. to install sources of renewable energy, such as wind energy, solar photo-thermal and photovoltaic solar energy, at the companys distribution hubs and reduce energy use to a minimum. to create, in as-yet-to-be-determined locations, the forest biomass needed to absorb 100% of the greenhouse gas emissions generated by the use of electricity at Zara headquarters. Inditex has just opened its 5000th Inditex store as the flagship of its 2011-2015 Sustainable Inditex Plan. Inditex new global benchmark in eco- efficiency is housed in the Palazzo Bocconi (Rome), a building whose history dates back more than 120 years. Just some figures: this is a store which consumes 30% less energy with regard to the annual average consumption of a conventional store, saves 50% of water consumption and avoids the emission of over 150 toms of CO2 per year. The Inditexs Strategic Environmental Plan 2007-2010 achieved various certifications in 3 of its stores including a first of its kind in Europe with Zara Barcelona being awarded LEED (Leadership in Energy and Environmental Design) certification. This new concept of boutique hides behind a faà §ade that makes use of three key elements: shop windows and geometric composition with big metal and glass squares, and a large-format logo. The new-look shop interior comprises an extensive range of grey tones which contrast with its black furnishings. The sales area is spread over five stores. Highlights of features contributing to the stores eco-efficiency include automatic monitoring of the stores indoor air quality (CO2 levels, humidity, light intensity, noise), to ensure the comfort of employees and shoppers; motion detectors to turn lights on and off in low-traffic areas and a an air curtain system at entrance doors, equipped with special sensors that continuously monitor outside temperatures to prevent abrupt indoor air temperature changes, thereby reducing the need to run heating/cooling systems. Besides and in order to lessen the nocturnal light pollution which plagues cities, the establishments lights are programmed to dim by more than 50% when the shop is closed Companies of the dimensions of HM can have a big impact on the environment, its a responsibility of HM to reduce his impact. By our research the company has to minimize his impact at every stage of the products life cycle from how cotton is grown to the way the customer use the garments. The first major advantage of working with secondary data is economy: because someone else has already collected the data, the researcher does not have to devote resources to this phase of research. There is also a savings of time. Because the data are already collected, and frequently also cleaned and stored in electronic format, we can spend the our time analyzing the data. The second major advantage of using secondary data is the breadth of data available. Few individual researchers would have the resources to collect data from a representative sample of adults in every state in the United States, let alone repeat this data collection process every year, but the federal government conducts numerous surveys on that scale. Data collected on a national basis are particularly important in environmental issues. The third advantage in using secondary data is that often the data collection process is informed by expertise and professionalism that may not available to smaller research projects. For instance, many of the Government environmental surveys discussed in this research use a complex sample design and system of weighting that allows the researcher to compute population based estimates of health conditions and behaviors. One major disadvantage to using secondary data is inherent in its nature: because the data were not collected to answer your specific research questions, particular information that you would like to have may not have been collected, or it may not have been collected in the geographic region you want to study. In any case, you can only work with the data that exist, not what you wish had been collected. A second major disadvantage of using secondary data is t hat because the analyst did not participate in the planning and execution of the data collection process, he or she does not know exactly how it was done. More to the point, the analyst does not know how well it was done and therefore how seriously the data are affected by problems such as low response rate or respondent misunderstanding of specific survey questions. Sometimes it is readily available; for instance, many of the government data sets have extensive documentation of their data collection procedures, refusal rates, and other technical information available on their websites or in published reports. SECONDARY DATA Secondary Data is existing information that has been gathered for some purpose outside the planning process. Obtaining Secondary Data in practice normally means desk or library research. Information can be obtained from the data that is routinely collected by the planning organisation or from external sources. External data are gathered by other organisations either for their own use or for commercial use. General sources of external data are, for instance, various computerised databases, associations, other government agencies and different published sources such as libraries and newspapers. A computerised database can provide information on a wide range of topics, and lists of commercial databases are normally available in public libraries. Librarians can also be invaluable in the search for specific information for planning. Among the potentially useful data provided by government agencies are demographic data, employment data and special reports on industries. Other examples of s econdary data are historical information and census data. Associations may have valuable information about conservation or social aspects. To estimate the relevance of information for the planning process it is essential to know how and why the information was produced. Burns and Bush (2000) claim that a researcher should examine five factors when evaluating a piece of secondary data. These are: The reason the study was undertaken. Sometimes a piece of research is not independent in nature but has been carried out to support a specific point of view. Obviously, an organization should try to avoid taking decisions based on information that has been produced as a result of a biased piece of research. The credibility of the organization or individuals who undertook the research. What specific information was collected and what method the researcher employed to measure or evaluate the data. How the data was collected. There are many different methods for collecting data, which will be discussed later in this chapter. Each method may have an affect on the quality of the findings of a piece of research. The consistency of the findings of a piece of research with other studies. If several studies report similar results, that may provide support for the reliability of any findings. If a report contradicts a number of other studies it may be an indication that the research is not reliable. However, in both cases the researcher has to evaluate a specific piece of research across all criteria and not merely agree with or discount a reports findings on the basis that it does not agree with the majority of the results from other secondary research sources. Secondary data can be obtained from a number of sources BENEFITS OF SECONDARY DATA The major advantages of using secondary data are: Cost. It is much less expensive to obtain information from existing sources than to develop entirely new data. These existing sources may require a nominal charge for the information, but it will be much less than the cost of undertaking primary data collection. Timeliness. Secondary data are available almost instantaneously. A manager can have access to data very quickly and therefore does not have to wait weeks or perhaps months for primary data to be collected, analyzed, and summarized. By using secondary data whenever possible, a manager avoids the frustration of developing the research methodology design, designing the data collection instrument, pretesting the instrument, devising a sampling plan, gathering the data, checking all data for accuracy and omissions, analyzing the data, and summarizing and reporting the results. Instead, a manager can merely locate the appropriate source and access the information desired. This process can be completed in a few hours or days, whereas primary data collection can take weeks or months to complete. LIMITATIONS OF SECONDARY DATA However, secondary data collection does have the following disadvantages. Limited applicability. A manager has no assurance that information gathered by others will be applicable to a particular hospitality operation. For example, information obtained in New York about the popularity of a specific menu item is not necessarily useful to a manager operating in another part of the country. Information that pertains to one operation may apply only to that operation and be of limited value to anyone else. Information may be outdated. Managers need current and accurate information on which to base decisions. All too often, secondary data are not as useful as they might be merely because they are not current. For example, the results of a consumer attitude survey conducted by a restaurant four years ago would be of limited value to a manager making plans today. During the four years, a number of changes in consumer attitudes are likely to have taken place. These changes in attitudes will make the original data outdated and useful only in a historical sense. If a hospitality manager makes use of less-than-timely data, the results are likely to be less than satisfactory. Reliability. Whenever a hospitality operator uses secondary data as the basis for a decision, the manager runs the risk that the information may not be reliable and accurate. A manager would do well to determine who collected the data and what method of data collection was used. Information is only as good as the individuals who collect it and the methods they use. If a study is administered in a haphazard manner, the results and conclusions should be viewed with caution. SOURCES OF SECONDARY DATA There are two main types of secondary data that can be used by managers within a firm (see Figure 6.2). Internal data exist within the firm and can be obtained with minimal time and effort. Advances in computer technology have made it easier to obtain this information and provide it to managers in a form that is useful. External data are not readily available within the firm. Managers must obtain this data by spending more time and/or money contacting outside sources. The Internet has made this a much easier task, but there is still a fair amount of effort involved. The various sources of internal and external data are discussed below. INTERNAL DATA. The component of a marketing information system that is the simplest to design and implement is an internal system, or the component designed to collect data from within the organizational environment. When considering the organizational environment, management needs to be concerned only with information available from within the physical confines of the organizations units, whether they are hotels or restaurants. This component of a marketing information system requires less time and money than does the competitive environment or externally generated marketing information. The internal component of a marketing information system is very valuable to management because it provides a wealth of information. Management has three main sources of internal marketing information: guest histories and sales data, employees and management staff, and customer feedback. Employees and management staff. All too often, hospitality management ignores the wealth of information that is informally gathered by hourly employees such as front desk personnel, telephone operators, restaurant service people, and hosts and hostesses. These individuals are in constant contact with guests, yet they are rarely asked to relay customer comments and reactions to operational changes, such as new menu items or guest room dà ©cor changes. These employees represent an excellent source of information, although the information they provide may not be totally objective. It is a good idea for management to meet with employees on a regular basis to discuss problems and opportunities. Employees crave recognition from their supervisors; this recognition increases the employees satisfaction and commitment to the organization. All employees need to be exposed to some motivational techniques, although managers often ignore the simple and basic needs of employees as individuals. Customer feedback. The focus of the marketing concept is the hospitality operations clientele. All aspects of the entire operation should be aimed at satisfying these individuals. The purpose of using an internal marketing information system is to solicit opinions and comments from the current clientele. This can be done in a number of ways, such as having the manager talk with a few of the customers or having service personnel check with the customers. One method used frequently is the comment card. These cards are placed in guest rooms or are provided to the guest upon checkout or when they have finished a meal in a restaurant. The purpose is to solicit their opinions and comments concerning the operations quality. All three internal sources of marketing information are very valuable. Together they can provide a great deal of useful information with which to make decisions. Historically, hospitality managers have failed to use these sources to maximal advantage, but the current competitive situation in the hospitality industry dictates that all sources of information be used to gain a competitive advantage and to earn maximal financial rewards EXTERNAL DATA. Although externally generated marketing information is extremely valuable, it is normally not collected on a daily basis, as is the case with internally generated marketing information. This is due to a much larger investment of time, money, and other scarce resources required for externally generated information. Management should consider using a wide variety of sources of external marketing information. Literally thousands of sources are available, and these sources are limited only by managements own efforts to locate them. A few typical sources of external marketing information are: Trade associations. Many industries form trade groups that provide data for their members. These trade associations collect information from their members and then provide industry averages that can be used to measure a firms relative performance. Some of the popular trade associations for the hospitality industry are the National Restaurant Association, the American Hotel Lodging Association, and the Hospitality Sales and Marketing Association International. Two of the more popular tourism associations are the World Tourism Organization (WTO) and the Travel and Tourism Research Association (TTRA). However, most of the data for the tourism industry are collected by government travel bureaus. Travel bureaus. Cities, states, and countries usually form organizations that are responsible for promoting travel to the area. Most cities have a chamber of commerce that is responsible for promoting business in the city and, in some cases, tourism as well. Larger cities and regions form convention and visitors bureaus for the sole purpose of promoting business and leisure travel to the region. A chamber of commerce has member firms from all types of industries, whereas convention and visitors bureaus tend to have member firms from travel-related industries such as lodging, restaurants, and tourist attractions. Finally, most states and countries have government travel and tourism bureaus that are responsible for promoting travel to that state or country. Trade journals and periodicals. Many industry, or trade, journals are available to firms. Trade associations often publish their own journals, but many other organizations publish periodicals covering certain industries. Some of the more popular hospitality publications are Restaurants Institutions, Restaurant Hospitality, Nations Restaurant News, Restaurant Business, Lodging Hospitality, Lodging Magazine, and Hotel Motel Management. The articles in these publications provide information on new products and advertising campaigns, as well as current trends in the industry. These articles also provide a valuable resource for case studies involving successes and failures of industry firms. Other Periodicals. In addition to trade journals that specialize in a certain industry, other publications cover business in a variety of industries. Some of the more popular business publications that cover the hospitality and tourism industries are Business Week, Wall Street Journal, Fortune, Barrons, and Forbes. Internet. The growth in both the quantity and quality of information available on the Internet is well documented. Using one or more of the available Internet search engines will uncover information, some of which will be highly valuable for managers. A key consideration for managers is being able to determine the accuracy and usefulness of information gathered from the Internet. University sources. Universities and colleges have well-stocked libraries that can be a valuable resource for firms in the area. These institutions often have access to many of the other sources of external data. In addition, universities and colleges form centers to research specific areas such as hospitality. This information is often free to the public or available for a reasonable fee. Government sources. Local, state, and federal governments maintain detailed data on all aspects of the economy; the data are free or available for a nominal fee. The United States Census gathers detailed information about the population and retail business, and the Statistical Abstract of the United States contains similar information in abbreviated form. Census and statistical documents are now available in electronic form, enabling quicker searches and data retrieval. The federal government also collects information about foreign countries and provides specialists to answer specific questions and address inquiries. Syndicated services. Firms such as Harris and Gallup polls, Target Group Index, Nielsen, and W. R. Simmons specialize in collecting and distributing marketing information for a fee. These syndicated services provide information about consumer profiles and shopping behaviors, consumer responses to sales promotions and advertising, and consumer attitudes and preferences. This information is useful in focusing on market segments using aggregate data. These services often advertise in trade publications and marketing periodicals. Guides, indexes, and directories. Other valuable sources of external information include guides, indexes, and directories that are available at most university libraries and larger public libraries. Guides such as the Business Periodicals Index provide references by subject matter for articles