• 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 ...

    is secure and make profit Shareholders: The shareholders want to know the company is doing well and making profit and paying them good dividends on time Local community: The local community want to know that no business is affecting the environment and it's surrounding Government: government want to know that all the business is paying taxes and obeying laws.

  2. Introduction to J Sainsbury plc

    The main purpose of the human resources function is recruiting, selecting, training and developing members of staff. This means finding the right people, training and developing them, so they can achieve their maximum potential and high levels of morale and motivation.

  1. Identifying the customer needs at marks and Spcner

    For example, if Marks and Spencer's were marketing a product which is a type of Southern Asian food then they would have to test the product in Southern Asia. Marks and Spencer's use test market when launching a new product.

  2. Free essay

    Environment influences on Manchester Airport

    They have based this on the principles of reducing their need for energy, then using that energy as efficiently as possible, moving to renewable energy sources and finally, off-setting any remaining emissions. Their commitment also applies to the CO2 emissions arising from our energy use and operational vehicles.

  1. In 2007, Marks & Spencer Plc. a leading UK clothes, food and home products ...

    Stakeholders are groups, people and anything else that has an interest in performance the business. Marks & Spencer have many stakeholders, such as, staff, consumers, pressure groups and the government; the government would be interested in the business because they receive tax from the business and may need to regulate the performance of Marks & Spencer.

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

    Tesco’s has been sponsoring the race for life event for ten years now and they have helped raise over £362 million for the charity. This has contributed to the success of Tesco’s in achieving their objective “To put our responsibilities to the communities we serve at the heart of what

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

    The head of a department observes lessons so they are aware of how the teachers are teaching, they analyse the quality of the teaching so they know what improvements are needed. The school has improved the results of their students over the years and is still carrying on with these

  2. Legal influences and their impact on Sainsburys Plc

    It would be pointless the stores opening for a few customers to visit on Christmas day, as it wouldn't be profitable. Therefore, you could say that it has given the company a positive financial impact. It doesn't impact Sainsbury's significantly, as Christmas day is the day when the least people are likely to want to visit a supermarket.

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