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

Year 10-Assessment 1- Companies Explain each of the four stages in the growth of Marks and Spencer

Extracts from this document...

Introduction

GCSE Business Studies King George V School Year 10-Assessment 1- Companies 1. Explain each of the four stages in the growth of Marks and Spencer. Marks started of as a sole trader, as he was a hawker. The business, which was selling small items door to door, was run by just one person, Michael Marks. He had to start of as a sole trader, as he didn't have the capital or the experience required to enlarge his business, therefore he started with a small business and slowly started expanding. The second stage was when Michael Marks took on a partnership. He had to do this as he thought that this would help the business become more successful, as know there are two people to help run the company. So, Marks doesn't have to manage everything in the business; and the business can now receive more capital now that there are two people involved. ...read more.

Middle

This way the work load can be shared and therefore, if one of them wants a holiday or is sick, then the other one can cover for him. Another advantage is that there is more capital for the business as there are more owners to provide the capital; Spencer added �300 to become a partner. So with more capital they can afford to improve and expand the company. 3. Explain what is meant by a non-executive director? Spencer became a non-executive director when the business was changed into a private limited company. He is still a major shareholder of the company. But he doesn't help with the day-to-day running of the company. Spencer still helps make the decisions about the company, and contributes ideas. But he doesn't execute the decisions made. That is done by the executive director which is Michael Marks. Marks helps with ideas, and he executes the ideas; therefore enforcing them. ...read more.

Conclusion

There is the capital clause, association clause, object clause situation clause and liability clause. The Articles of Association is the internal relationship of the limited company. This would include how directors are elected, how profits are divided, the number of directors and their rights and duties and finally how meetings are called and directed. 6. Explain one problem that Marks and Spencer plc will have which it would not have had when it was a Ltd Company. One problem would be that as a public limited company, the shares are quoted on the Stock Exchange. So, there are a lot of shareholders and therefore, there needs to be a Board of Directors. This can create a problem as there can be conflict of interest between shareholders and Board of Directors. And if the business expands too much, then there can be communication problems or it might be difficult to handle the business. Therefore, it would be harder and therefore take longer to enforce ideas or decisions made to help improve and expand the company. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity 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 GCSE Business, Companies and Organisation, Activity essays

  1. NVQ BUSINESS AND ADMINISTRATION LEVEL 2: MODULE 201

    Cookers, Fridges, Fridge Freezers, Washing machines etc. If a customer needs one of these items then they can be added to the waiting list. Fill in there contact details i.e. Name, address and telephone number then a tick should be next to the electric item or items that they require.

  2. English for business

    Then there is the 50p. coin. # The unit currency in U.S.A: dollar - a paper bill or a silver coin. - banknotes of $ 1, 2, 5, 10, 20, 50, 100, 500, 1000 - coins 1� 5� (nickel), 10� (dime), 25� (quarter), 50� (half dollar) are made of silver.

  1. Business Studies Edexcel Coursework

    An example of an open question for Errol might be: Have you ever experienced any unsatisfactory service from other garages? (Please tick appropriate box) Yes No If yes, please specify a brief account of the misfortune below. Open questions would give Errol Anderson a chance to find out more about

  2. Business Studies

    Change and social responsibility: * Ecological sustainability, quality of working life, technology, globalisation/managing cultural diversity, e commerce Ecological sustainability: > Refers to the production of goods and services at a level which is compatible with the long term preservation of the environment > Management should balance goals and ecological sustainability

  1. Business studies - Business Plan

    Secondly I will be getting a load from the bank as this will pay for my starting up costs which are very high as I will need to purchase all the needed equipment. The problems I will be facing when trying to get the money for my business are getting

  2. "Moving Mountains at Marks and Spencer"

    In addition to woman's wears, Marks and Spencer dominant the underwear market, and held a great share of the children's and man's clothing in UK market. Marks and Spencer was the symbol of 'Quality, Service, and Value for Money'. By June 1997, Marks and Spencer's retail empire stretched to 651 locations across 31 countries.

  1. Functional Areas

    The firm offers both full and part-time career opportunities, which helps staff to combine work with family or educational commitments. *Recruitment This is an area where people working there have to find applicants to fill vacancies. On the internet they put the vacancies that are available in McDonalds.

  2. Business Studies- Unit 1- Organisational Structures

    On the other hand, if the span of control is too large, the supervisor may not have the capacity to supervise effectively such large numbers of immediate subordinates. Thus, there is a possible trade-off to be made in an attempt to balance these possibly opposing tendencies.? Kenneth D. McKenzie 1978.

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