Essay about business management

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A Short History of Marks & Spencer
 Marks & Spencer was formed in 1884 when Michael
Marks, a Polish refugee opened a market stall in Leeds, with the slogan ‘don’t ask the price, it’s a penny’.
 In 1894 Marks went into partnership with Thomas
Spencer, a former cashier from the wholesale company,
Dewhirst.
 In 1904 Marks & Spencer opened their first shop in a covered arcade in Leeds.
 In the 1920s we adopted the revolutionary policy of buying directly from suppliers.
 In 1926 Marks and Spencer Limited became a public company.
 In 1930 the flagship Marble Arch store was opened.
 In 1931 a food department was introduced, selling produce and canned goods.
 In 1933 a staff welfare service was set up to provide pensions, subsidised staff canteens, health & dental services, hairdressing and even camping holidays!
 In 1934 we were the first British retailer to set up its own research laboratory to pioneer new fabrics.
 In 1948 M&S launched its own Food Technology department to work closely with suppliers, producers and farmers.  In 1954 the research lab undertook the first ever systematic survey of women’s leg sizes, to create a new and improved sizing system for stockings.
 The same year saw M&S’s “Operation Simplification”, which reduced internal paperwork by 25million items per year.
 In 1974 Indian and Chinese foods were introduced.
 In 1975 the first stores opened in continental Europe in France and Belgium.
 In

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