I chose two companies, Marks and Spencer and NSPCC. Marks and Spencer is a multi-million dollar international company that started in Leeds in 1884. Marks and Spencer operates stores around the world, from the UK to India to Asia. They currently have around 1,035 stores in the UK and 428 stores internationally, operating in 57 different countries and employing 80,787 people. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay Marks and Spencer has invested in the food, clothing and home sectors, but also offers other services like M&S Insurance and M&S Bank which drive them all. money. In 2018, Marks and Spencer had a group turnover of £10.7 billion, the sector that generated the most money for them was the food sector which generated £5.9 billion, while the The sector that generated the least money was the clothing and home sector, which generated £5.9 billion. 3.7 billion. However, Marks and Spencer made a pre-tax profit of £66.8 million, showing that they made a small profit in 2017/18. The private sector is part of the economy that is not managed by the country's government, but by people or organizations. For example, sole traders, who work alone, such as in off-licence shops or convenience stores. Private sector businesses are owned by individuals or organizations. Other types of private sector businesses are partnerships like those in dentistry, accounting, and large corporations like Apple, Tesla, and Samsung. Mark and Spencer is a retail and food company and is owned by its shareholders, so it is privately owned. The public sector is the opposite of the private sector; it belongs to the government. For example, prisons, the Metropolitan Police and hospitals are in the public sector because they are owned by the government. The non-profit/voluntary sector is part of the economy that is owned by non-profit organizations. This sector is also not owned by the government but is generally controlled by the public and their cooperation. Companies in the voluntary sector include companies such as Oxfam, St Luke's Hospice, Breast cancer now and Red Cross. Responsibility means being responsible for a business. Person or material. There are two types of liability, unlimited and limited. Unlimited liability means that the organization will be responsible for everything and you could suffer a financial crisis. Limited liability means that people/organizations are only responsible for what they have invested and will not suffer personal financial risks in the event of bankruptcy. The goal of a business is to grow, succeed and make a profit over time. M&S's aim is to provide good services to the public and goods that meet high quality standards. The companies operate in four different sectors, primary, secondary, tertiary and quaternary. The primary sector is responsible for extracting materials for products. For example, agriculture, mining and fishing. The secondary sector is responsible for manufacturing a product from the extracted raw materials. For example, cans, marble floors, coffee and sugar. The tertiary sector is responsible for providing services to others, for example transport, schools, restaurants and hospitals. The last sector, the quaternary sector is responsible for the expertise ofcertain knowledge for services at work. For example, ICT and media. Marks and Spencer belongs to the tertiary sector because they sell the products made by companies in the secondary sector, such as clothing and food. There are different ways for an organization to operate, for example at local, regional, national and international level. Local means in your area, such as an off-licence store. Regional means in your area like England, an example is Wenzels bakery. National means throughout the country. While international means across the whole world like Nike and Adidas which have stores in many countries. Primark is a type of business that started locally in Dublin in 1969, but later expanded to many countries around the world. Marks & Spencer has a very large scale, which means it is an international company; they have stores in 57 different countries around the world. They sell both goods and services like clothing, food, and services like insurance and banking to the public. Mark and Spencer also aims to maximize profits for its shareholders as it is a limited liability company. Organizations come in different sizes, for example; micro, medium and enterprise. Marks & Spencer is a business because they employ 80,787 employees and their budget or turnover was around £10.7 billion which shows us that they are a business. Organizations always aim for success and maximum profits to grow. Apple is a very successful company. Apple was founded by Steve Jobs in 1976 and became widely known around the world. It is now at the forefront of the smartphone industry in the 21st century. Another very successful company of Microsoft, Microsoft was founded in April 1975 by Bill Gates. BHS is a company that was not successful because it went bankrupt. BHS is a British company that sells clothing and home accessories. BHS went bankrupt in 2015 and the company was sold for £1. Woolworths is another company that failed. Woolworths went bankrupt in 2008 as it came under pressure from the internet. If a company focused on increasing its sales, that would not mean increasing its profits. Indeed, for a profit to occur, a company must necessarily achieve a sufficient amount of sales to cover production costs. If there are not enough sales, no profit will be made. If a small business employs a specialist, it will not have a direct effect on its short-term profits, but it will have an effect on its long-term profits. This may be because the specialist can advise the business to operate in a certain way that will help increase sales and generate profits. Nonprofit organizations need regular donations from the local community to survive. They then give all the money back to the public to help improve it. Organizations such as charities will judge their success based on whether they thrive in helping the local community or others around the world. Marks & Spencer's goals are to generate profits over time and increase sales, but they also aim to improve the quality of their products to its highest level. NSPCC is a charity which protects children who have been abused by their parents and guardians. They are not run by the government as they are a charity, most of their employees work for free as they volunteer. The NSPCC was founded in 1884 by Benjamin.