Corporate Governance

Running Head : Corporate Governance Snapshot Corporate Governance Snapshot (Author 's Name (Institution 's Name

Executive Summary

The report is about Marks Spencer Group Plc , a UK publicly quoted company

Marks and Spencer Group PLC 's principal activities are retailing clothes , food and home products . It operates in the United Kingdom , in the Republic of Ireland and Hong Kong , in addition to in worldwide franchise stores . Retailing activities are carried out under the Marks Spencer and Kings Super Markets brand names like clothing products that include women 's wear , men 's ' wear

, children ' s wear . It also offers beauty products . The Group has over 400 stores located all over the United Kingdom . It also has 150 stores worldwide , including over 130 franchise businesses , operating in 30 countries

The arguments presented supporting the structures recommended by the Cadbury Code of Best Practice and assessment how far Marks Spencer has adopted the Code 's recommendations

The Annual report and financial statements of Marks and Spencer provide shareholders with the key financial information in a clear and concise manner . The Summary financial statement does not contain all the information to give a full understanding of the results of the Group and state of affairs of the Company and the Group

The Group Directors ' report , the full accounts and the Auditors ' report on those accounts , which is unqualified , are contained in the Annual report and financial statements 2006

More detailed information about the Group 's activities and the main trends in the corporate governance are the factors likely to affect the future development of the company

Marks Spencer : An Introduction

Marks Spencer Group plc is the holding company of the Marks Spencer group of companies (the Group . It is one of the UK 's foremost retailers of clothing , food and home products . It also deals in wholly-owned stores in the Republic of Ireland and Hong Kong , in addition to in worldwide franchise stores . On 28 April 2006 it completed the sale of Kings Super Markets , its wholly-owned supermarket chain in the US

What really is Marks Spencer is a set of systems and routines and a structure of organisation . These systems and routines make possible what are , on the whole , individually rather modest people to perform , in aggregate , in very extraordinary ways . The fundamental nature of the company is a structure of internal relationships among the staff , and a collection of external relationships with suppliers . It is not just that these things are the real meaning of Marks Spencer . It is these things , rather than the stores or the name , which make Marks Spencer the exceptionally commercial company it is

On the other hand if this is true , it is difficult to see how the concept of ownership akin to rights of an umbrella could be relevant People can benefit from the returns they generate , however that is not at all the same as owning them . If anyone did own these things , it is more to be expected to be the employees than the shareholders...