assignment

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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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

2


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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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


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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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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http://www.tutor2u.net/


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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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.

http://Www.tutor2u.net/


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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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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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


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.


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

http://www.12manage.com/


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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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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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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http://www.bbc.co.uk/news


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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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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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

19


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.

20


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.

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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 –


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

http://www.maryportas.com/secretshopper/wh-smith/comment-page-7/#comments

http://www.maryportas.com/secretshopper/wh-smith/comment-page-7/#comments


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


http://www.moodiereport.com/document.php?c_id=6&doc_id= 29359 – Date


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

http://news.bbc.co.uk/1/hi/magazine/8708145.stm

http://news.bbc.co.uk/1/hi/business/3511299.stm


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


December 2011


December 2011


December 2011

http://news.sky.com/home/business/article/16137462 Date Accessed 27th

December 2011


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

http://www.statistics.gov.uk/


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


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

http://www.waterstones.co.uk/

http://www.tesco.com/

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5095408/WH-Smith-starts-selling-pick-n-mix.html

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5095408/WH-Smith-starts-selling-pick-n-mix.html


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 -


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

http://www.dailymail.co.uk/news/article-1281686/WHSmith-shamed-Once-great-rated-high-street-customers.html

http://www.dailymail.co.uk/news/article-1281686/WHSmith-shamed-Once-great-rated-high-street-customers.html

http://www.whsmithplc.co.uk/docs/r-and-p/Preliminary_Results_Press_Release_2011_FINAL.pdf

http://www.whsmithplc.co.uk/docs/r-and-p/Preliminary_Results_Press_Release_2011_FINAL.pdf

http://www.whsmithplc.co.uk/docs/r-and-p/2011_Prelims_Presentation_FINAL.pdf

http://www.whsmithplc.co.uk/docs/r-and-p/2011_Prelims_Presentation_FINAL.pdf

http://www.whsmithplc.co.uk/media


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 –


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

http://www.mktgsensei.com/AMAE/Strategy/HBR%20on%20Strategy.pdf#page=25


http://tutor2u.net/business/strategy/competitive_advantage.htm



http://tutor2u.net/business/strategy/porter_five_forces.htm

http://www.whsmithplc.co.uk/about_whsmith/key-facts/%20%20

http://www.whsmithplc.co.uk/corporate_responsibility/our_targets/

http://www.whsmithplc.co.uk/about_whsmith/our_strategy/

http://www.guardian.co.uk/business/2011/oct/13/wh-smith-launches-ebook-reader-deal

http://www.guardian.co.uk/business/2011/oct/13/wh-smith-launches-ebook-reader-deal

http://www.whsmithplc.co.uk/about_whsmith/history_of_whsmith/

http://www.whsmithplc.co.uk/


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 -


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 -


*Total word count (Excluding bibliography and references, graphs and text boxes) – 4.331

30

http://www.whsmithplc.co.uk/docs/press-releases/Press_Release_2011.pdf

http://www.whsmithplc.co.uk/docs/press-releases/Kobo_Vox_launch_release_FINAL.pdf

http://www.whsmithplc.co.uk/docs/press-releases/Kobo_Vox_launch_release_FINAL.pdf

http://www.whsmithplc.co.uk/docs/press-releases/IMS_Nov_2011_FINAL.pdf

http://www.bbc.co.uk/news/10612209

http://www.thesun.co.uk/sol/homepage/news/money/3940216/Shops-gurus-Smiths-blast.html

http://www.thesun.co.uk/sol/homepage/news/money/3940216/Shops-gurus-Smiths-blast.html

http://www.mindtools.com/pages/article/newSTR_93.htm

http://www.12manage.com/methods_7S.html%20

http://www.tutor2u.net/business/strategy/mckinsey_pyramid.htm


**Information in this report is up to and including 4th January 2012

31

assignment

Documents