Business Enviroment Unit 1 Task 1

2398 WordsNov 1, 201110 Pages
Unit 1: Business Environment Assignment 1 Understanding the Purpose of Business of Marks and Spencer PLC Introduction This assignment will focus on identifying the mission, values and key objectives of Marks and Spencer PLC and also access the influences of three of their stakeholders. It will also explain the responsibilities of the organisation and the strategies employed to meet them, overall showing a general understanding of the purpose of business of Marks and Spencer. Categories of Organisation Marks and Spencer plc is a public limited company this means that they trade on stock markets such as the London stock exchange, and…show more content…
Any finance option that they choose to use, interest will need to be paid on top, e.g. 25% interest on a 10,000 loan = £10,000 payable + £2,500 interest is the charge for having the loan, which makes the total payable £12,500 to the creditor. Another factor is also secured and unsecured the term given if the money borrowed is secured against a physical thing like property, this can be extra security for the finance company to ensure that a loss is not made, if a person has no or limited history of credit. Marks and Spencer can be a creditor in the sense that they provide finance options to their customers on goods and services. The customer would then be referred to as a debtor because they owe £x to Marks and Spencer, It can be risky because Marks and Spencer can suffer a loss if the customer/debtor cannot afford to pay the balance back. Although can be a lucrative for Marks and Spencer because the customer will need to pay interest on the items taken on credit. The Central government has a big influence on the operations and way of business that Marks and Spencer chooses to adopt, because of the legislation that Marks and Spencer must keep up to date and also put into to practice for example to maintain safe, legal, fair way of business etc. There are also issues in today’s economy with

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