p1 marks and spencers and the westlands school history
Introduction
I have chosen marks and spencer or most commonly known as M&S and the Westlands School to do my assignment.
Mark and spencer’s (M&S) company which is gone from a sole trader to a public limited company which is now one of the largest supermarkets across UK and Europe.
The Westlands School is a secondary school for girls and boys, which the government control.
History of mark and spencer’s - mark and spencer’s started with Michael marks who was Poland Jew, he came to England in 1882,and couldn’t speak any English and had very little money but he had a sharp mind and knew what the customers want, so he started to sell his own possession to get money.
Soon after he had his first stall in kirkgate market, Leeds 1884 which was called ‘Marks Penny Bazaar’. This was a very successful retail business. This is where Michael marks became a sole trader. A sole trader is where a business is owned by one person,and is also unlimited libaility,which means if the business finds itself unable to pay its creditors then the sole trader can be forced to sell his personal possessions to pay these creditors. But in 1894 Michael went into a partnership with tom spencer which means working as as a team and changed the name of the business to marks and spencers. A partnership is also unlimited liability, even though some partnership can be limited liability, so they have to share the profit they make and the running of the business, but an there can 2-20 people in a partnership. Tom invested in Michael business of his life saving of £300 for a half-share in the growing business, tom was in charge of the warehouse and the central office while mark was in charge of buying stock and managing the penny bazaars. By 1903 they were registered as marks and spencer ltd with a capital of 30,000 shares. the two found mark and tom became shareholders which means they make all the deision in the company.
In 1904 when tom retired, mark rented eight units when
I have chosen marks and spencer or most commonly known as M&S and the Westlands School to do my assignment.
Mark and spencer’s (M&S) company which is gone from a sole trader to a public limited company which is now one of the largest supermarkets across UK and Europe.
The Westlands School is a secondary school for girls and boys, which the government control.
History of mark and spencer’s - mark and spencer’s started with Michael marks who was Poland Jew, he came to England in 1882,and couldn’t speak any English and had very little money but he had a sharp mind and knew what the customers want, so he started to sell his own possession to get money.
Soon after he had his first stall in kirkgate market, Leeds 1884 which was called ‘Marks Penny Bazaar’. This was a very successful retail business. This is where Michael marks became a sole trader. A sole trader is where a business is owned by one person,and is also unlimited libaility,which means if the business finds itself unable to pay its creditors then the sole trader can be forced to sell his personal possessions to pay these creditors. But in 1894 Michael went into a partnership with tom spencer which means working as as a team and changed the name of the business to marks and spencers. A partnership is also unlimited liability, even though some partnership can be limited liability, so they have to share the profit they make and the running of the business, but an there can 2-20 people in a partnership. Tom invested in Michael business of his life saving of £300 for a half-share in the growing business, tom was in charge of the warehouse and the central office while mark was in charge of buying stock and managing the penny bazaars. By 1903 they were registered as marks and spencer ltd with a capital of 30,000 shares. the two found mark and tom became shareholders which means they make all the deision in the company.
In 1904 when tom retired, mark rented eight units when