I chose two companies, Marks and Spencer and NSPCC. Marks and Spencer is a multi-million pound international company founded in Leeds in 1884. Marks and Spencer operates stores across the world, from the UK to India to Asia. They currently have around 1,035 UK stores and 428 international stores operating in 57 different countries and employing 80,787 staff. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Marks and Spencer have invested in the food, clothing and home sectors, but they also have other services such as M&S Insurance and M&S Bank which all make them money. In 2018 Marks and Spencer had a group turnover of £10.7 billion, the sector generating the most money was the food sector which generated £5.9 billion whilst the sector generating the least money was the clothing sector and of the house, which generated pounds. 3.7 billion. However, Marks and Spencer made a profit of £66.8 million before tax, which shows that they made a small profit in 2017/18. The private sector is a part of the economy that is not managed by the country's government but is managed by people or organizations. For example, sole traders, which are those who work alone such as in off-licence shops or corner shops. Private sector businesses are owned by individuals or organizations. Other types of private sector businesses include partnerships such as dentistry, accounting, and large corporations such as Apple, Tesla, and Samsung. Mark and Spencer is a retail company and a food company and is owned by its shareholders, so it operates in the private sector. The public sector is the opposite of the private sector; It is owned by the government. For example, prisons, the Metropolitan Police and hospitals belong to the public sector as they are owned by the government. The non-profit/voluntary sector is a part of the economy owned by non-profit organizations. This sector is also not owned by the government but is usually controlled by the public and its cooperation. Voluntary sector businesses include companies such as Oxfam, St Luke's Hospice, Breast Cancer Now and the 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 means that you may suffer from financial crisis. Limited liability means that people/organizations are only liable for what they have invested and will not suffer personal financial risks resulting from failures. The purpose of a business is to grow, succeed and earn profits over time. The aim of M&S is to provide good services to the public and goods with high quality standards. The companies operate in four different sectors, primary, secondary, tertiary, quaternary. The primary sector is responsible for extracting materials for products. For example, agriculture, mining and fishing. The secondary sector is responsible for making a product with the extracted raw materials. For example, cans, marble floors, coffee and sugar. The tertiary sector is responsible for providing services for others, such as transportation, schools, restaurants and hospitals. The last sector, the quaternary sector, is responsible for proficiency with certain knowledge for services to function. For example, ICT and media. Marks and Spencer operates in the tertiary sector as it sells products manufactured by secondary sector businesses, such as clothing and food. There are different ways in which an organization can operate,e.g. local, regional, national, international. Local means in the surrounding area, such as an unlicensed shop. Regional means in your region like England, an example is Wenzels bakery. National means the whole country. While international means worldwide like Nike and Adidas which have stores in many countries. Primark is a type of business that started locally in Dublin in 1969 but then expanded to many countries around the world. Marks & Spencer has a very broad reach, meaning it is an international company; they have stores in 57 different countries around the world. They sell both goods and services to the public such as clothing, food, and services such as insurance and banking. Mark and Spencer also aim to maximize profit for their shareholders as they are a limited liability company. Organizations are of different sizes, for example; micro, medium and enterprise. Marks & Spencer is a business, this is because it employs 80,787 people and its budget or revenue is approximately £10.7 billion, which shows us that it is a business. Organizations always aim for success and maximum profits in order to grow. A very successful company is Apple, Apple was created by Steve Jobs in 1976 and has become widely known throughout the world, now it is a leader in the smartphone industry in the 21st century. Another very successful company is Microsoft, Microsoft was founded in April 1975 by Bill Gates. One company that has not been successful since it went bankrupt is BHS. BHS is a British company that sells clothing and home accessories. BHS went bust in 2015 and the business was sold for £1. Another business that was unsuccessful was Woolworths, Woolworths went bust in 2008 as it came under pressure due to the internet. If a company focused on increasing sales, this would not mean an increase in profits. This is because for a profit to be made, there must necessarily be an amount of sales for a company, to cover production costs. If there are not enough sales, no profit will be made. If a small business employs a specialist, this will not have a direct effect on short-term profits, but it will have an effect on long-term profits. This can happen as the specialist can advise the company to manage a certain way which will help to increase sales and generate profits. Non-profit organizations need regular donations from the local community to survive. Then they release all the money to the public to help improve it. Organizations such as charities will judge their success by their progress in helping the local community or others around the world. Marks & Spencer's objectives are to earn profits over time and increase sales, they also aim to improve the quality of their products to the highest levels. NSPCC is a charity that protects children who have been abused by parents and carers. They are not run by the government as it is a charity, most of the employees work for free as they volunteered. The NSPCC was founded in 1884 by Benjamin Waugh. They operate throughout the UK, Wales, Scotland, England, Northern Ireland and the Channel Islands. The NSPCC's annual income in 2017 was £127.4 million and total spending was £114.7 million. The NSPCC currently employs around 2500 people while 1700 are volunteers. NSPCC is a business as it has 2500. NSPCC is a non-profit organisation. The money raised puts it back into the community, so they make no profit or loss, so the NSPCC operates in the voluntary sector as it is not run by the government but run by a team of 15 trustees. Currently, the NSPCC is run by President Gregory Mark Woods.