Purpose – This paper seeks to examine business strategy from the small firm and enterprise development perspective. It aims to advocate the value of a well‐considered strategy for the venture for superior business performance and consider the ways in which entrepreneurs can devise, control...

This paper examines the fundamental strategic issues of positioning and governance and their effect on the fortunes of the high street giant, Marks & Spencer, as it attempts to repair the damage caused to its performance and reputation following the events of the last year.