• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

History of Marks and Spencer

Extracts from this document...

Introduction

Marks of Spencer In 1884 Michael Marks opened a stall at Leeds Krikgate. He moved to Manchester in 1893, the following year he opened a shop. Marks formed a partnership with Tom Spencer who was a cashier in a wholesales company known as IJ Dewhrist. A new warehouse and head office opened in 1901 at Derby Street in Manchester. Tom Spencer died in the late 1905 on 25th July and Michael Marks died in the late 31st December. In 1920 the business had started to adopt the revolutionary policy of buying goods direct from manufactures. In 1926 Marks and Spencer limited had formally become a public company. In 1930 flagship store was then opened at Marble Arch in London. The food department was introduced that started to sell produced and canned goods. 1930 saw the introduction of caf´┐Ż bars in many of the stores where cheap, hygienic and nutritious food was supplied. Simon Marks commissioned Flora Solomon to set a staff welfare service which enable to provide pension schemes, subsided staff canteens, health and dental service in 1933. ...read more.

Middle

In 2008 they announced that they charge 5p for every food carriers that their customers use to help with the Global warming. Marks and Spencer is a Public limited company it has PLC at the end of its name because it is a large business. Marks and Spencer sell their shares on the stock exchange to any body who wishes to purchase them and invest in the business. As a public limited company they employ large numbers of staff and provide products that their customers want to purchase. Marks and Spencer is a large business because it has more than 250 employees how figures show that Marks and Spencer had up to 75,871 in the year 2007 the number of employees decreased by 2008 to 75,389. Their balance sheet is more than 5.6 million pounds however statistics show that there balance sheet figures for last year were 7,774.0 which decreased by this year to 6,562.0. The advantages that marks and Spencer's have being a public limited company are that all members of the company have limited liability they have large amounts of money that increase from the sales of share to the public. ...read more.

Conclusion

The disadvantages of being a PLC are that the company is legally to publish their accounts every year as well as all of this being a PLC it is very hard for them to set up a business as it is a lot more expensive and they have a lot more paperwork to do. Other objectives that Marks and Spencer can set are increasing the shares of the business. Marks and Spencer is part of the private sector, it is owned individually or with several of its shareholders within PLC. Marks and Spencer can be a small business with a single owner or it can be a multinational company. As a private sector Marks and Spencer aim to make profit by which they do not wish to be controlled by the state. The advantages of being within a private sector are profit and ability is determined they have access to the financial resources they have the advantage to respond to demands in difficult situations. The disadvantage of being within a private sector they can only invest when they are return in assure they have flexibility to those that are supermarkets ?? ?? ?? ?? Jasmit Kaur Bhullar ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. For my portfolio, I was asked to do an assignment on two businesses. I ...

    low when compare to Tesco because they can open a shop in a small area and they do not affect by many factors Task 5 Stakeholders: stakeholders are the people or organisation that has an interest in or in influences of the actions or performances of the business.

  2. Identifying the customer needs at marks and Spcner

    Commercial publication would be very beneficial to Mark and Spencer such as if Marks and Spencer wanted to launch a new clothing product then they would use commercial publication as part of their research to research about the market size within that area, they would use this information to look at the current trends already on their competitors markets.

  1. Introduction to J Sainsbury plc

    It also deals with sales promotion and advertising; in addition, it prepares sales budgets and forecasts. The functions of the marketing department can be summarised in the following diagram shown below: = Profitability (Source: Needham, D. & Dransfield, R. Advanced Business.

  2. Marks & Spencer is one of the UK's leading retailers of clothing, foods, homeware ...

    M&S have even made an independent website for its investors, providing accounts and reports. There are equally Pros and Cons to a public limited company like M&S. Advantages * It is generally easier to raise finance that it would be for a private limited company.

  1. Objectives of Cadbury Schweppes plc

    be minimised without setting a day-to-day objective, which makes a direct contribution to meeting the primary objectives e.g. increase sales by 5% each year, keep labour turnover at less than 4%. If secondary objectives are accomplished within CS, they then can develop their company.

  2. Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

    This is the same for promotional offers as Tesco?s always look to set promotions on their popular products to get customers to purchase them ? this is known as promotional pricing. To remain competitive Tesco?s runs a price check on all its products to show customers how much money they

  1. Legal influences and their impact on Sainsburys Plc

    Affect on Sainsbury's and their response In 2007, Sainsbury's had 153,000 employees, with 58% being female. As this law is maternity related, this has a big impact on Sainsbury's. This is because Sainsbury's employees are mostly of childbearing ages. Therefore, they could possibly lose a large proportion of their workforce if many women became pregnant.

  2. Applied Business. Investigating a business Preston Manor High School

    Preston manor is currently doing a campaign on recycling to promote it and encourage students to recycle[5]. Furthermore, the school has put recycling bin all over the school to encourage the students to recycle and make the environment healthier. This activity makes the objective ?Continue to improve the learning environment, site and facilities and eradicate litter? more achievable.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work