Types of businesses - Marks and Spencer is a (PLC) Public Limited Company.

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Task 2- Types of businesses

Marks and Spencer is a (PLC) Public Limited Company, it offers its shares to the general public, often through the Stock Exchange. It is the share prices of these types of companies that are displayed in the daily press. Most of the larger companies are public limited companies, so they keep Household names like Marks and Spencer.

The first owner of Marks and Spencer was Michael Marks; he started the company as a sole trader until 1894 Michael formed a partnership with Tom Spencer, a former wholesale company IJ Dewhirst, from the partnership the company started to expand. Tom Spencer died on 25 July 1905 and after 2 years Michael Marks died on 31 December 1907. It was then time for the owners today at that time to advance the success of the two founders. In 1926, Marks and Spencer became a public company and 2 years later the St Michael Trade Mark was registered. Through out the years Marks and Spencer has been expanding till today. Food departments have been opened such as café bars during these several years and many other methods have been used through out the years.
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Overall, we can see that growing the organization Marks and Spencer was done by four steps, firstly starting as a Sole trader, where Michael had to invest his own money and had to take risks. He had to carry out all the functions of the business. For Michael Marks this meant purchasing in bulk and reselling quickly. If the sole trader employees other people (usually family and friends) the structure is likely to be simple hierarchy with a sole trader being responsible for them. The successful culture in this situation is likely to be informal. To grow, the ...

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**** Many good points in here and evidence of good research. It really does need an introductory paragraph to explain its purpose and some of the terms need much further development which I have added in my notes.