An Exploratory Study into Failure in Successful Organizations: The Case of Marks & Spencer.

Marks & Spencer (M&S) was one of the world's great retailers, enjoying legendary and iconic status, being often held up as one of the best managed and admired businesses in the world. Its ‘fall from grace’ has been spectacular and dramatic and the company is currently fighting for its life. Based on extensive in-depth interviews with company managers and utilizing a case-study approach, this paper provides an exploratory study into failure at M&S and presents this in the context of the wider literature on organizational and managerial failure. It concludes that whilst external factors in the various trading environments affected the business, there were internal aspects of the crisis which exacerbated the situation and the problems. [ABSTRACT FROM AUTHOR]