assignment
TRANSCRIPT
UGB 319; Corporate Strategy; Michael Winship
UGB 319; Corporate Strategy
‘In the face of growing competition is WH
Smith’s fit for purpose’
‘Our goal is to be Britain’s most popular
bookseller, stationer and Newsagent’
(WH Smith Plc 2011)
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UGB 319; Corporate Strategy; Michael Winship
Table of Contents
Executive Summary
1.0 Introduction……………….. ………………… Page Four
2.0 Evidence………………………………………… Page Five
2.1WH Smith Background……………………Page Five
2.2Positioning within the market…………… Page Six
2.3 Michael Porter’s Five Forces………… Page Six
2.4Michael Porter’s Generic Strategies…… Page Eight
3.0 WH Smith Current Strategy………………… Page Nine
3.1 WH Smith Key Competitors…………… Page Twelve
3.2 McKinsey’s 7’s Framework………………Page Thirteen
4.0 The View of WH Smith……………………… Page Fourteen
5.0 What does WH Smith need to do.....................Page Fourteen
6.0 SWOT Analysis……………………………… Page Eighteen
7.0 Pest Analysis……………………………………Page Nineteen
8.0 Conclusion………………………………………Page Twenty
8.1 List of Top Five Priorities………………… Page Twenty One
9.0 Bibliography…………………………………… Page Twenty Two
10.0 References……………………………………Page Twenty Nine
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UGB 319; Corporate Strategy; Michael Winship
Executive Summary
This report has been constructed to look at the current and previous strategy of WH
Smith in the face of growing competition from online and supermarkets. It can be said
that WH Smith is no longer the high street giant that it once was with recent newspaper
articles to support this theory. (Daily Mail.co.uk) This report will be able to say why WH
Smith is no longer considered as good as it once was and what the company needs to
do in order to try and remain competitive. Relevant models and theories will be adapted
to the company to showcase their main strengths and weaknesses, such models will be
Michael Porters 1985 five forces model and his generic strategies model. The use of
models will be able to show how they are faring compared to their main rivals of internet
stores and supermarket giants such as Tesco and ASDA.
In order to find out the information that is needed to evaluate the strategic position of
WH Smith a number of sources will be used, these sources consist of books, websites
and other media publications. Further sources will be used in the strength of a S.W.O.T
analysis and a PEST analysis.
This report will focus mainly at shop level and not company level this is due to
customers using shop level to communicate with the business. Looking at this report
from a shop level will make it more feasible to evaluate the strengths and weaknesses
of the day to day running of the customer focused area of the business.
Recommendations can be more focused to the day to day running of the business and
can therefore be implemented at an early stage to capitalize on the customer.
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UGB 319; Corporate Strategy; Michael Winship
1.0 Introduction
This report features models that clearly show the competition within the market place
that WH Smith operates in, the complexity of these models show what WH Smith needs
to do to try and overtake these competitors and to try and regain the loyal customer
base that it once had.
There can be three types of strategy as outlined by De Wit and Meyer (2009) which
emphasizes that there must be an organizational purpose, the strategy process which
arises from the purpose the strategy and lastly the strategy purpose which is the result
of implementing the strategy.
Types of Strategy
B De Wit and R, Meyer (2010)
De Wit and Meyer (2010
‘Strategy is quite simply an outline of how a business intends to achieve its goals. The
goals are the objective, the strategy sets outs the route to that objective. In the early
stages, business objectives are fairly simple; to survive, and to achieve growth targets’
(A Henry, 2009)
‘Strategic management is concerned with the overall direction of an organization and as
such it is a vital management activity’ (Finlay 2000)
‘Strategy is the creation of a unique and valuable position, involving a different set of
activities’ (M, Porter, Harvard Business Review 2008)
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Organizational purpose -
Impetus for Strategy
Activities (Input)
Strategy Process - Flow of strategy Activities (Throughput)
Strategy Process – The result of
strategy activities (output)
Strategy Context – Conditions surrounding strategy activities
UGB 319; Corporate Strategy; Michael Winship
2.0 Evidence
2.1 WH Smith Background
‘A group engaged in the retail of newspapers, magazines, stationery, books,
entertainment products and confectionery via retail outlets and online’
(www.keynote.co.uk)
WH Smith began life in 1792 when Henry Walton Smith and his wife Anna opened a
small vendor shop in London this was named H W Smith and after Henry Smith’s death
a few months after launch Anna went into partnership with Zaccheus Coates which
lasted until his death in 1812. After Anna Smith’s death in 1816 the business was
passed on to her two sons, Henry Edward and William Henry Smith it was considered
William was the more capable businessman and the name changed to WH Smith.
(WH Smith PLC, 2011)
In recent memory WH Smith has tried to change the products that they sell and to look
at the best ways of trying to give customers something different, one example of this is
the new KOBO E reader which has been recently launched. (Guardian.co.uk)
WH Smith has a clear strategy going forward which has been split into two parts, these
two parts reflect two core activities within the business which are;
Travel Business
High Street Stores
The travel business strategy is focused on delivering value to shareholders through
organic growth and overall improving transaction value and raising the efficiency of
trading. (WH Smith PLC, 2011) The high street plan is simply about ensuring that all of
the retail basics are delivered and adhered to. To also ensure that margins are
optimized and costs are controlled. (WH Smith PLC, 2011)
Every year WH Smith has key corporate responsibility targets which is a key continual
development focus for the company ensuring areas such as environment, waste and
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UGB 319; Corporate Strategy; Michael Winship
community investment are developed. (WH Smith PLC, 2011) WH Smith currently
employs around 12,000 people across the UK and each year 71% of the UK population
visit a WH Smith store.(WH Smith PLC, 2011)
2.2 Positioning Within the Market
2.3 Michael Porters Five Forces (1985)
‘Awareness of the five forces can help a company understand the structure of its
industry and stake out a position that is more profitable and less vulnerable to attack’
(Harvard Business Review 2008)
www.tutor2u.net
In terms of WH Smith and the five forces model devised by Porter it operates in a
market that is very competitive with new and emerging businesses trying to encourage
the customer away from where they currently shop. Big players in the market include
the major supermarkets such as ASDA and Tesco In order for WH Smith to be
competitive in the market that they operate in they need to make sure
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UGB 319; Corporate Strategy; Michael Winship
1. Threat of New Entrants – Threat of new entrants to the market for WH Smith is high
this is due to the range of product being offered being offered in many different places.
Books are fairly simple products to sell and therefore if a new entrant wanted to set up
in the same market as WH Smith there is nothing to stop doing so. One such example
of a new entrant to the market is play.com who have recently introduced books to their
selling website.
2.Buyers – Buyers for WH Smith can come in many different forms and therefore WH
Smith need to adapt to these many different customers. Some customers just want a
magazine or a newspaper and therefore there is nothing that can be done to try and
persuade these customers to get other products. The buyers that can be targeted are
the ones that come in for a book or stationary as substitute products can be offered as a
way of making sure customers get some form of what they are after.
3.Substitutues - Many substitutes can be used against WH Smith due to the products
that they sell. As of the 21st December 2011 the supermarket giant ASDA sell the KOBO
e reader highlighting the problem that happened with one of WH Smith’s competitors a
few years ago Woolworths where they were no longer seen as a place to go to get
something no one else was selling. In WH Smith’s defence the KOBO vox still continues
to be only sold at WH Smiths a strength that the company should utilize.
4. Suppliers - , Many of WH Smith’s suppliers can supply to other retailers which offers
suppliers the chance to be able to serve more than one individual retailer. The retailer
can then choose the discounts that are passed on to their customers. WH Smith’s can
be considered as more expensive then some of its key competitors such as the current
Lee Evans being priced at sixteen pound and waterstones charging 8.99 online.
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UGB 319; Corporate Strategy; Michael Winship
2.4 Michael Porter’s Generic Strategies (1985)
‘The four strategies relate to the extent to which the scope of a businesses' activities are
narrow versus broad and the extent to which a business seeks to differentiate its
products’ tutor2u.net
Current Strategy
Www.tutor2u.net
8
WH Smith currently has a differentiation from its competitors in the face of the KOBO E Reader with its biggest rival not having a touch screen E reader or a tablet E Reader.
WH Smith currently makes most of its money from the books that it sells. This is due to the massive profit that can be made on books.
Confectionary could be considered as a cost focus because of the amount it generates in revenue. Although confectionary is not considered a major part of the business this is one area for improvement.
No real areas for differentiation focus at present but in order to remain competitive this needs to be addressed. It could be in the form of offering products nobody else is selling or by enhancing already offered services.
UGB 319; Corporate Strategy; Michael Winship
Future Strategy
WH Smith’s future strategy needs to be worked around what the present strategy is and
try to think of improvements going forward. As previously mentioned there is no
differentiation focus that can be seen at the moment except in the form of the KOBO E
Reader and other businesses already sell E Readers. All of WH Smith current products
need revised in order to reflect what the core business is trying to do, therefore books
need to be revised in order to ensure that a clear cost focus on these is identified and
ratified. Confectionary should become the cost leadership where more money is made
from having good promotions that customers would utilize.
3.0 WH Smith’s Current Strategy
The business model of WH Smith at this moment in time is not brilliant in terms of
cracking competitors and what they sell however WH Smith is ‘cash rich’ this is due to
the cost cutting that current chief executive Kate Swann has implemented. The
stationary that WH Smiths sells makes it the market leader although this remains
competitive. (WH Smith Media) The strategy over the next five to ten years remains
challenging due to the economic climate and the continuous development of key rivals.
The new KOBO e reader that WH Smith has exclusivity to is encouraging to customers
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UGB 319; Corporate Strategy; Michael Winship
as a sign of developing what customers want and offers a different way of reading
books. However the E reader has been on the UK market for a while this is a sign of
another WH Smith weakness, WH Smith does not have the instinct to create a killer
product that nobody else on the market is selling. The average customer at WH Smith
buys two books a year whereas with an e reader this rises to twelve books a year
highlighting the need for developing what customers may find useful. WH Smith’s
problem is not what they sell after all if other retailers and competitors can sell the same
products and make customers come back then surely WH Smith must be able to do
this. Where WH Smiths is going wrong is in the pricing strategy, some of the key
products WH Smiths sell other competitors do and do it with reductions which WH Smith
can only dream of offering one such example of this is a book that would cost 8.99 in
WH Smiths being sold for 4.49 in Tesco’s. This is because of the volume Tesco will sell
at means they can reduce the price and encourage customers to shop there but even
more this price is not a special offer price and is a fixed price driving more of an
incentive of fixed prices most of the time.
UK Publishing Sales by Sector by Market Share (%), 2010
www.keynote.co.uk
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UGB 319; Corporate Strategy; Michael Winship
WH Smith’s is widely known for the extensive range of magazines and newspapers that
they sell some of which you can only obtain from WH Smith’s, however this chart shows
that it is actually newspaper sales that bring in more revenue and sales then
magazines. So this surely should be an area that WH Smith needs to invest in, selling
all the daily newspapers such as The Sun, The Mail, The Mirror and the Financial Times
is all good as this is what the customer base is wanting to buy however more choice is
needed in this area to allow for a better customer knowledge of what they may want to
buy.
Bounce back vouchers and sweet offers can sometimes not be in the interests of
customers and various customers complain about this. The strategy around these
vouchers offer an incentive for both the customer and the business as the customer can
get money off and the business can get more money in, However many customers
report that these vouchers start at crazy times and therefore do not use these vouchers
so is it worth continuing to use these vouchers?
Harvard Business Review, 2008
This diagram from Harvard Business review in 2008 highlights why most strategies go
wrong, most of the time a lack of information about the strategy is the main cause of
failure. In terms of WH Smith’s it could be said that a lack of information and clear
communication between managers, staff and higher authority is causing problems to the 11
UGB 319; Corporate Strategy; Michael Winship
core strategy of the day to day running of the business this is evident in the confusion of
certain promotions.
3.1 WH Smith Key Competitors
The amount of competitors should be a worry to WH Smiths in the current economic
climate due to the ever changing conscious customer and their needs. All of WH
Smiths main competitors are competitors due to what they offer, however WH Smith
does not sell one single product that their competitors do not offer, although the
extensive ranges of products does work in their favor.
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WH Smith Key Competitors
Tesco – A major player in the supermarket sector, Tesco offers almost all the products WH Smith sell at a much cheaper cost. Tesco also offers all products under one roof without the need to go elsewhere.
Play.com – Perhaps the biggest emerging online retailer. Play.com challenges the prices that WH Smith charge and normally offers products at a lot cheaper. Play.com also offers free delivery on everything something WH Smith does not offer unless you get delivery to a store
Waterstones – In terms of the books that WH Smith sells Waterstones is the nearest rival offering more extensive range of books. Waterstones offer student discount and allow for gift cards to be used online both of which WH Smith do not offer.
Amazon – In recent times Amazon has become a competitor to WHSmith due to the kindle. WH Smith’s introduction to the E reader market has made them a key rival to what Amazon offers. The benefits of WH Smith e readers out way the benefits of the kindle.
Asda – Like Tesco Asda is a retail giant and therefore can offer products at prices that WH Smiths can’t offer therefore steering competition in their direction. Asda also has the bargaining power of attracting new products first and can secure exclusive deals for products.
Ryman – Stationary shop offering most if not all of the same products that WH Smith sell.
UGB 319; Corporate Strategy; Michael Winship
3.2 McKinsey 7’s Framework
‘The 7S framework of McKinsey is a management model that describes 7 factors to
organize a company in a holistic and effective way; (www.12manage.com)
www.12manage.com
WH Smith lacks the ideology from Mckinsey of the best way to run a business this is
due to at least two of the seven S’s of strategy missing from the day to day customer
focused area of the business. Staff should be a major concern for the business as a
lack of staff can result in lost business and lost revenue. Whilst there is a plausible
structure to the business in what they sell this structure needs revising to see what it is
they are trying to do in terms of selling what products and who they are trying to appeal
to. It comes across from various forms of research that WH Smith are trying to cater to a
wider market then they previously have. If this is to be the case then why are they so
late in selling an electronic E Reader device which has been on the market for a while
thanks to kindle.
4.0 The view of WH Smith13
UGB 319; Corporate Strategy; Michael Winship
Recently WH Smith has come in for some criticism over the way they run the business
day to day a recent newspaper article blasted the retailer for not having enough staff in
a busy rush hour period and was also accused of being ‘rubbish’ with promotions that
were not very good. (The Sun.co.uk) Many customers have raised questions about why
they need to be asked if they want any ‘half price sweets or chocolate’ when they are
being served at a till point, this is a risky strategy for WH Smith to be implementing
because this is annoying to some customers who are only in the store to purchase a
newspaper or who are after some lottery tickets. If customers really want to purchase
half price sweets or chocolate they would have them before they go to the till.
Whilst the bounce back vouchers that are offered to ‘every customer every time’ brings
in additional revenue for the business it can be seen to be as though WH Smith cares
more about bringing in money for the business rather then what customers are wanting.
5.0 What does WH Smith need to do?
Being the UK’s biggest bookstore surely should indicate that WH Smith need to do
something in order to maintain this
Over the next few years WH Smith needs to do a number of things in order to ensure
customers are loyal to the business and want to come back. The vouchers that are
given out at till points need to go, this may bring in additional revenues for the business
but the take up rate of which these vouchers are used is low and many customers
complain about not being able to use due to dates being too far in advance. Scrapping
these vouchers will allow a better customer experience as they will not be being
bombarded with promotional leaflets and vouchers.
WH Smiths need to try and focus more on confectionary more then it currently does due
to the rising amount of people buying confectionary compared to a few years ago. Over
the past four years confectionary sales have risen sharply this may be largely down to
people choosing to spend money on confectionary as a luxury item.
Total UK Expenditure on Confectionery (£m), 2006-2010
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UGB 319; Corporate Strategy; Michael Winship
www.keynote.co.uk
The retail market is currently experiencing decline so in line with other retailers WH
Smith’s needs to offer that ‘killer’ product to make customers visit the store once
customers are in they can bring in further revenue. In short offer the customer
something that they really want. The KOBO is one such example of this, customers
don’t realize they want one until they hear about it and the range of facilities that are
offered compared to the market leader of the kindle.
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UGB 319; Corporate Strategy; Michael Winship
www.bbc.co.uk/news
Chart showing the rate of inflation in the UK economy it shows that over the course of
the 2009 economic crisis retail prices plunged which was good for customers but bad
for retailers. The outlook for 2012 does not look good for retail therefore WH Smith now
more than ever needs to take a look at the core structure of the business and realize
what they need to do in order to ensure that customers are continuing to shop at WH
Smith. Household incomes are going to be more squeezed then ever and customers
will continuing to remain cautious with what they spend prompting them to think whether
WH Smith continues to offer value for money.
WH Smith need to also look at the current range of newspapers that it sells due to an
ever changing amount of interest in newspapers. Since the News of the World closure
more and more people are choosing not the read a newspaper this maybe the time for
WH Smith to consider other alternative newspapers that are available. Newspapers may
be in decline but this is one way of bringing additional footfall to WH Smith’s.
As mentioned in the next section of this report the SWOT Analysis WH Smiths
need to look at the range of book related products that they sell. Certain WH
Smith stores rely too heavily on the consumer books market which is where most
money is generated however what about the academic and professional books
market? This market makes up 21% of the retail book market and is something
that is needed to maintain a competitive edge also to ensure that potential
customer can utilize WH Smith for these books. At the minute the market leader
for Academic and professional books in Amazon and a bit like the KOBO e
reader WH Smith’s needs to take the challenge to them.
Sector Share of the UK Retail Book Market by Value (%), 2010
Consumer books 72.5
Academic and professional books 21.0
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UGB 319; Corporate Strategy; Michael Winship
School books 6.5
Total 100.0
www.Keynote.co.uk
6.0 SWOT Analysis
Strengths Weaknesses Opportunities Threats
WH Smiths is the UK’s
number one bookstore.
A key advantage in
trying to gain exclusivity
to book deals and book
signings. Have offers
that other book stores
can only dream of
having.
Key
competitors
offer incentives
for customers
to shop there
such as
Waterstones
offers student
discount
something WH
Smith does not
offer. Again a
Product ranges in
stores could be
developed to offer
products that are
wanted at specific
times of the year.
Such instances of
this include
University books
and other course
text books that can
only be ordered into
Too many other
retailers sell exactly
the same products
that WH Smith
does. Highlighting
the need for a
change in strategy
and products sold.
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UGB 319; Corporate Strategy; Michael Winship
sign of being
cash hungry.
stores.
The new range of KOBO
e reader’s allows for a
product that is different
to what is currently on
the market. Offers
customers to get
something that is
different from the market
leader.
Limited amount
of staff operate
in WH Smith
stores resulting
in frustration for
customers.
New self checkouts
in various stores
allow for a customer
to not have to wait if
only buying one
item such as a
Newspaper.
The prices that WH
Smith charge are
too competitively
priced and can be
overpriced.
Customers will vote
with their feet and
choose to shop
elsewhere.
7.0 Pest Analysis
Political Economic Social Technological
Government cuts
mean less money to
support business.
Rising cost of living
prompting people to
choose to shop
elsewhere in order
to save money. One
such place is the
internet where
prices are less
expensive and there
is a range of
delivery options
available.
Less people tend to
shop on the high
street and prefer to
shop online. This is
largely down to cost
and convenience.
People want to be
able to do more with
their time and high
street shopping is
not one of them
which is why the
Constant advances
in technology mean
that WH Smith is
constantly trying to
keep up with its own
competition. The
phasing in of its own
E Reader was too
late in the market
after the Kindle was
launched
successfully by
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UGB 319; Corporate Strategy; Michael Winship
internet is so
popular.
Amazon.
Recent high street
proposal plan set
out by the Mary
Portas on behalf on
the Government
indicated that high
streets need
regeneration
Tough trading
conditions in the UK
mean sales at WH
Smith’s were down
by 6% in the first
quarter of the 2012
financial year.
E Books are now
becoming more
popular than
traditional books
prompting there not
to be a need to use
the high street.
Other big
companies such as
o2 use twitter and
other social
networking as a
means to keeping in
contact with their
customers.
Something WH
Smith should invest
in.
8.0 Conclusion
In conclusion this report raises the key questions that WH Smith ought to think about
going forward over the next five to ten years. If the company implements some of the
ideas that have been raised this will help them to maintain the customer base that it
has. Referring back to the initial question that was raised at the beginning of this report
of ‘in the face of growing competition is WH Smith fit for purpose? this report makes it
clear to see that whilst there is a number of competitors trying to steal business from
WH Smith it still operates with a loyal amount of customers and with a bit of a strategic
overhaul of what it sells the business can regain its once had stability on the UK market.
WH Smith’s is still fit for purpose in 2011 but whether this will remain to be the case in
the next five to ten years is uncertain as a number of new business models will be
formed, which will offer more competitiveness for WH Smith than ever before.
The strategic business models that have been used within this report have helped to
illustrate what WH Smith is good at which is being the UK’s number one bookstore a
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UGB 319; Corporate Strategy; Michael Winship
title that will probably continue due to the overhaul that is going on at other high street
retailers such as Waterstones. Customer ordering is another such area that needs
improvement as orders into store once a week is simply not enough, if a customer
needs a book for a holiday in the coming days then this is not an advisable service to be
using. Deliveries need to be at the very least twice a week one at the beginning of the
week and one towards the weekend. Utilizing the customer ordering system will allow
for a greater range of product availability for the customer.
The overall image of WH Smith’s needs to change as it is now considered as not as
good as it once was as highlighted in this report and it is evident that it is trying to hard
with the use of constant vouchers. A customer receiving four discount vouchers with
their purchases is a bit excessive a limit needs to be applied as customers tend to not
like these vouchers. WH Smith’s will not become the next Woolworths as many analysts
had predicted this is largely down to a loyal customer base and the continuous need for
a good book to read as an alternative to Television or Radio.
To conclude this report WH Smith’s needs to focus on the SWOT analysis that has
been mentioned in this report to make the business work harder then it currently is.
Ensuring that the recommendations are used will result in more footfall for the stores
and increased sales, increased sales can mean that more staff can be employed and
more resources used in order to make the store a friendlier environment for customers.
Major highlights for the business include the KOBO E reader and the extensive
magazine range, the fact that the business remains a viable business in the current
economic downturn in 2011 is commendable but the future looks uncertain without a
change in direction.
8.1 List of Top Five Most Important Priorities in Store
1. More staff are needed during crucial trading periods for example during the evenings
and weekends.
2. Clearer signage is needed for the customer to understand promotions so that
confusion is not an issue for both staff and customers.
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UGB 319; Corporate Strategy; Michael Winship
3. Cut down on the amount of promotion vouchers and more customers may be able to
use the current vouchers that they have.
4. Improve customer ordering facility to ensure that customer satisfaction is raised to a
point that they feel they can come back to the store and get what they are offer.
5. Product overhauls to differentiate from competition for example university and
academic books a market that is not tapped into.
9.0 Bibliography
http://www.bbc.co.uk/news/business-16131013 - Date Accessed 12th December
2011
http://www.bbc.co.uk/news/uk-16153541 - Date Accessed 13th December 2011
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2011
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2011
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2011
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UGB 319; Corporate Strategy; Michael Winship
http://www.bbc.co.uk/news/business-16330449 - Date Accessed 27th December
2011
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2011
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about-future.html - Date Accessed19th December 2011
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December 2011
http://www.businessweek.com/magazine/content/06_34/b3998460.htm - Date
Accessed 28th December 2011
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a523129 - Date Accessed 4th January 2012
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Date Accessed 23rd December 2011
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Accessed 29th November 2011
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shareholders-enjoy-16-dividend-rise.aspx - Date Accessed 29th November 2011
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UGB 319; Corporate Strategy; Michael Winship
http://www.ftmandate.com/news/fullstory.php/aid/872/
WH_Smith_makes_right_call.html - Date Accessed 28th December 2011
http://www.futurebook.net/content/why-w-h-smith-kobo-deal-kind-makes-sense -
Date Accessed 29th November 2011
http://www.guardian.co.uk/business/2011/dec/11/high-street-rescue-mary-portas
- Date Accessed 12th December 2011
http://www.guardian.co.uk/business/whsmith - Date Accessed 29th November
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national-newspapers - Date Accessed 12th December 2011
http://www.guardian.co.uk/media/2011/nov/11/mail-on-sunday-tops-circulation -
Date Accessed 12th December 2011
http://www.guardian.co.uk/money/poll/2011/dec/16/store-wars-waterstones-wh-
smith?newsfeed=true – Date Accessed 18th December 2011
http://hbr.org/2011/01/the-big-idea-creating-shared-value - Date Accessed 28th
December 2011
Hill/Jones, Theory of Strategic Management with Cases, Eighth Edition, 2009,
South Western College
http://www.independent.co.uk/news/business/news/wh-smith-warns-on-tough-
festive-trading-as-sales-fall-6260369.html - Date Accessed 26th December 2011
http://www.inpublishing.co.uk/kb/articles/
wh_smith_high_street_facing_the_new_realities.aspx - Date Accessed 29th
November 2011
http://www.ispira.com/en/1/trading-strategy - Date Accessed 19th December
2011
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UGB 319; Corporate Strategy; Michael Winship
https://www.keynote.co.uk/business-intelligence/company-information/view?
regdNo=05202036&searchId=2827803&perPage=50&position=17&page=1&tab
Name=profitLoss – Date Accessed – 12th December 2011
https://www.keynote.co.uk/business-intelligence/view/product/211108/ukplc-
2011?utm_source=kn.reports.browse – Date Accessed 12th December 2011
https://www.keynote.co.uk/media-centre/in-the-news/display/online-sales-reach-
record-high-in-the-home-shopping-market/?articleId=613 – Date Accessed 30th
December 2011
http://markets.ft.com/research/Markets/Tearsheets/Summary?s=uk: SMWH –
Date Accessed 26th December 2011
http://www.marketingweek.co.uk/analysis/cover-stories/how-to-repair-britain
%E2%80%99s-crumbling-high-streets/3029691.article - Date Accessed 12th
December 2011
http://www.maryportas.com/secretshopper/wh-smith/comment-page-7/
#comments – Date Accessed 29th November 2011
M E Porter, Competitive Strategy, Techniques for Analyzing Industries and
Competitors, 2004, Free Press
http://www.marketingweek.co.uk/disciplines/digital/kobo-hopes-social-features-
will-differentiate-it-from-rivals/3031293.article - Date Accessed 21st December
2011
http://www.marketingweek.co.uk/home/wh-smith-rethinks-its-product-strategy/
2030485.article - Date Accessed 28th December 2011
http://www.mediabistro.com/ebooknewser/wh-smith-drops-price-of-kobo-touch-
in-the-uk_b18576 - Date Accessed 18th November 2011
http://www.mediabistro.com/ebooknewser/deadline-to-transfer-whsmith-ebooks-
to-kobo-is-today_b19047 - Date Accessed 4th January 201224
UGB 319; Corporate Strategy; Michael Winship
http://www.mirror.co.uk/news/city-news/2011/12/23/nearly-9-000-retailers-could-
go-bust-report-warns-115875-23655165/ - Date Accessed 23rd December 2011
http://www.mirror.co.uk/news/city-news/2011/12/23/john-lewis-bucks-high-street-
gloom-with-21-sales-increase-115875-23655169/ - Date Accessed 23 rd
December 2011
http://www.mirror.co.uk/news/city-news/2011/12/21/weak-consumer-confidence-
looks-bleak-for-shops-115875-23650209/ - Date Accessed 23rd December 2011
http://www.mktgsensei.com/AMAE/Strategy/HBR%20on%20Strategy.pdf – Date
Accessed 28th December 2011
http://www.moodiereport.com/document.php?c_id=6&doc_id= 29359 – Date
Accessed 13th December 2011
http://news.bbc.co.uk/1/hi/business/3511299.stm - Date Accessed 29th
November 2011
http://news.bbc.co.uk/1/hi/magazine/8708145.stm - Date Accessed 29th
November 2011
http://www.play.com/Electronics/Electronics/6-/Search.html?
searchstring=kobo&searchtype=ELEC&searchsource=2&searchfilters=s{kobo}
%2bc{321}%2b – Date Accessed 27th December 2011
Principles of Retail Management, R Varley, 2003, Palgrave Macmillan
http://retail.about.com/od/marketingsalespromotion/a/product_pricing.htm - Date
Accessed - 19th December 2011
http://www.retail-week.com/data/consumer-confidence-falls-to-chilling-level/
5032193.article - Date Accessed 21st December 2011
http://www.retail-week.com/comment/strong-management-key-to-funding/
5032044.article - Date Accessed 21st December 2011
25
UGB 319; Corporate Strategy; Michael Winship
http://www.retail-week.com/whsmith-festive-sales-slide-but-book-market-share-
grows/5009955.article -Date Accessed 13th December 2011
R Rumelt, Good Strategy Bad Strategy, 2011, Profile Books
www.statistics.gov.uk/ - Date Accessed 29th November 2011
http://news.sky.com/home/business/article/16130848 - Date Accessed - 19th
December 2011
http://news.sky.com/home/business/article/16017222 - Date Accessed 19th
December 2011
http://news.sky.com/home/business/article/16137462 - Date Accessed 26th
December 2011
http://news.sky.com/home/business/article/16137807 - Date Accessed 27th
December 2011
http://news.sky.com/home/business/article/16135393 - Date Accessed 27th
December 2011
http://news.sky.com/home/business/article/16137462 Date Accessed 27th
December 2011
http://news.sky.com/home/business/article/16139456 - Date Accessed 30th
December 2011
http://www.pocket-lint.com/news/43570/andy-mcnab-whsmith-kobo- ebooks -
Date Accessed 23rd December 2011
T3 2011, Kobo VS Kindle hands on review, http://www.youtube.com/watch?
v=HNaw8q111fg – Video accessed 12 th December 2011
http://www.thebookseller.com/news/booksellers-roll-out-new-year-sales-
promotions.html - Date Accessed 4th January 2012
26
UGB 319; Corporate Strategy; Michael Winship
http://www.theregister.co.uk/2011/11/28/kobo_whsmith/ - Date Accessed 23rd
December 2011
http://www.thesun.co.uk/sol/homepage/news/4016921/2billion-shopping-spree-
today.html - Date Accessed 23rd December 2011
http://www.techradar.com/news/portable-devices/whsmith-welcomes-news-that-
asda-will-sell-kobo-1046555 - Date Accessed 13th December 2011
http://www.thisismoney.co.uk/money/markets/article-1710508/Waterstones-and-
HMV-shops-to-shut.html - Date Accessed 12th December 2011
http://www.thisismoney.co.uk/money/markets/article-2081918/Retailers-update-
Christmas-sales-figures.html - Date Accessed 4th January 2012
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5095408/
WH-Smith-starts-selling-pick-n-mix.html - Date Accessed 29th November 2011
http://www.telegraph.co.uk/finance/debt-crisis-live/8991315/Debt-crisis-Live.html
- Date Accessed 4th January 2012
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8978054/
Shoppers-to-make-Tuesday-27th-busiest-of-the-year.html - Date Accessed 27th
December 2011
www.tesco.com – Date Accessed 29th November 2011
http://www.walesonline.co.uk/news/wales-news/2011/12/10/boxing-day-and-
january-sales-now-a-thing-of-the-past-say-retail-experts-91466-29927782/ - Date
Accessed 13th December 2011
www.waterstones.co.uk – Date Accessed 29th November 2011
http://www.waterstones.com/waterstonesweb/products/lee+evans/
the+life+of+lee/8537980/ - Date Accessed 21st December 2011
27
UGB 319; Corporate Strategy; Michael Winship
http://www.which.co.uk/news/2011/11/not-so-charitable-christmas-cards--
272001/ - Date Accessed 13th December 2011
http://www.whsmithplc.co.uk/media - Date Accessed 29th November 2011
http://www.whsmithplc.co.uk/docs/r-and-p/
2011_Prelims_Presentation_FINAL.pdf - Date Accessed 29th November 2011
http://www.whsmithplc.co.uk/docs/r-and-p/
Preliminary_Results_Press_Release_2011_FINAL.pdf - Date Accessed 29th
November 2011
http://www.yorkshirepost.co.uk/business/business-news/
sales_suffer_fall_but_wh_smith_sees_strategy_reaping_rewards_1_3556299 -
Date Accessed 28th December 2011
http://www.zdnet.co.uk/news/it-strategy/2000/01/27/bt-and-wh-smith-sign-
internet-deal-2076598/ - Date Accessed 28th December 2011
10.0 References
Books;
B De Wit and R Meyer, 2010, Strategy Process, Content, Context, Cengage
Learning. Page Five
Henry A, 2009, Understanding Strategic Management, Oxford University Press
Page Six
Finlay P, 2000, Strategic Management, An introduction to Business and
Corporate Strategy, Prentice Hall/Financial Times, Page Three
Websites;
http://www.dailymail.co.uk/news/article-1281686/WHSmith-shamed-Once-great-
rated-high-street-customers.html - Date Accessed 9th November 2011
28
UGB 319; Corporate Strategy; Michael Winship
http://www.whsmithplc.co.uk/ - Date Accessed 9th November 2011
http://www.whsmithplc.co.uk/about_whsmith/history_of_whsmith/ Date Accessed
9th November 2011
http://www.guardian.co.uk/business/2011/oct/13/wh-smith-launches-ebook-
reader-deal - Date Accessed - 9th November 2011
http://www.whsmithplc.co.uk/about_whsmith/our_strategy/ - Date Accessed 9th
November 2011
http://www.whsmithplc.co.uk/corporate_responsibility/our_targets/ - Date
Accessed 9th November 2011
http://www.whsmithplc.co.uk/about_whsmith/key-facts/ - Date Accessed 9th
November 2011
https://www.keynote.co.uk/business-intelligence/company-information/view?
regdNo=05202036&searchId=2859583&perPage=50&position=17&page=1 –
Date Accessed 30th December 2011
http://tutor2u.net/business/strategy/porter_five_forces.htm - Date Accessed 14th
November 2011
https://www.keynote.co.uk/market-intelligence/view/product/10419/book-
publishing/chapter/3/executive-summary - Date Accessed 12th December 2011
http://www.mktgsensei.com/AMAE/Strategy/HBR%20on
%20Strategy.pdf#page=25 – Page Three - Date Accessed 14th November 2011
http://tutor2u.net/business/strategy/competitive_advantage.htm -Date Accessed -
14th November 2011
http://www.mktgsensei.com/AMAE/Strategy/HBR%20on
%20Strategy.pdf#page=25 – Page Twenty Five – Date Accessed 14th November
2011
29
UGB 319; Corporate Strategy; Michael Winship
http://www.tutor2u.net/business/strategy/mckinsey_pyramid.htm - Date Accessed
14th November 2011
http://www.12manage.com/methods_7S.html - Date Accessed -14th November
2011
http://www.mindtools.com/pages/article/newSTR_93.htm - Date Accessed 22nd
November 2011
http://www.thesun.co.uk/sol/homepage/news/money/3940216/Shops-gurus-
Smiths-blast.html - Date Accessed 22nd November 2011
https://www.keynote.co.uk/market-intelligence/view/product/10421/
confectionery/chapter/4/hot-points - Date Accessed 12th December 2011
http://www.bbc.co.uk/news/10612209 - Date Accessed – 29th November 2011
https://www.keynote.co.uk/market-intelligence/view/product/10419/book-
publishing/chapter/4/market-definition - Date Accessed 12th December 2011
Press Releases;
http://www.whsmithplc.co.uk/docs/press-releases/IMS_Nov_2011_FINAL.pdf -
Date Accessed 29th November 2011
http://www.whsmithplc.co.uk/docs/press-releases/
Kobo_Vox_launch_release_FINAL.pdf - Date Accessed 29th November 2011
http://www.whsmithplc.co.uk/docs/press-releases/Press_Release_2011.pdf -
Date Accessed 29th November 2011
*Total word count (Excluding bibliography and references, graphs and text boxes) – 4.331
30
UGB 319; Corporate Strategy; Michael Winship
**Information in this report is up to and including 4th January 2012
31