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al customers to take a fresh look at M&S (Annual report, 2012). Besides, M&S sought to enhance the M&S brand as well as make their sub-brands more distinctive, as a result, they will continue to focus on their core customers' specific needs.

Recently, food safety becomes a popular topic in UK. Food safety incidents occurred frequently, for example, Tesco horsemeat scandal. As a leading retailer of high quality fresh food in UK, M&S should put food safety to a paramount place.

Employee skills training, Supply chain (internal business process perspective) 员工技能培训，供应链（内部业务流程视角）
Efficient supply chain activity is one of M&S's important critical success factors. The company continued to invest in their supply chain long with technology in keeping with the strategy to support future growth of the business, especially in international expansion (Annual report, 2012). Thus, employee training becomes an important part to achieve efficient supply chain, and it is also a critical success factor.

From the 2012 annual report, we can see that 35% of international stock delivered direct to destination, which indicated that efficiency was improved through the fully integrated supply chain operations. In addition, it reflects that the company tried to deliver products consistently on time, which could be another critical success factor.

Concept:概念：
Balanced scorecard 平衡计分卡
Balanced scorecard was devised by Kaplan and Norton (1992) which is a number of measures that offers top managers a fast but comprehensive view of the business. Managers can look at the business through the balanced scorecard from four main perspectives, including (i) financial perspective, (ii) customer perspective, (iii) internal business perspective, (iv) innovation and learning perspective. Kaplan and Norton define balanced scorecard as a cause and effect relationship between the four perspectives.

(i) Financial perspective

According to Kaplan and Norton (2001), financial perspectives are important while non-financial perspectives are also important, since through firm's financial performances, effects from other three perspectives can be reflected.

Kaplan and Norton (1996) said that the company's financial goals are profitability, growth and shareholder's value.

The main financial objectives of M&S are maximizing profit and reducing cost.

Profit is one of the main objectives of a company since every company wants to maximize the profit, M&S is no exception. M&S's main objectives include maximizing their profit, which could be measured comparing the profit as a five year summary, through the income statement. Profit before tax was ￡780.6m in 2011, with a 15.7% decreased to ￡658.0m in 2012.

Reducing cost is another important objective of M&S. In 2012, the effect of the deterioration in the economic environment impacted of M&S's strategy. Since sales in Clothing and Home were down 0.9% and Womenswear market share decreased by 0.5%, the company decided to focus on managing their costs tightly with aim to keep profitability. Gross margin was down 30 basis points at 40.8%, we can proceed to use gross margin to measure, in a meanwhile, profitability measures such as Operating profit, net margin, ROE and ROCE can also be used.
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