Tesco Essay

In the business world, TESCO is a very popular organization. TESCO believes its most important asset is its people. Performance and contribution and teamwork of the employees lead to success. Therefore, their approach is to reward the employees

The mission statement at Tesco PLC is for Tesco PLC to provide a better quality of life for customers and for their living to be easier, it’s important to Tesco PLC to be champions for their customers. Therefore, Tesco PLC aim to provide products such as food and clothes at amazing value and to be bought easily. Tesco PLC have chosen the purpose of ‘Serving Britain’s shoppers a little better every day’. Meaning that for every time a customer comes to Tesco PLC the service and quality will be improved. Therefore, will increase the reputation of Tesco PLC due to being better and better. So, sales will increase and so will the profits. Also by improving the service of the workers and the experience for the customers then more customers will be attracted to Tesco PLC.

This report will discuss the downturn in Tesco’s profits and will describe the contribution of the key business functions to the changes implemented in the organization. (Finance, Marketing, Operations, and Human Resources). Also, it will explain the key stakeholders of the organization and the key issues in managing stakeholders. Furthermore, it will include a SWOT analysis and a Power and Interest Matrix about Tesco.

As a mission statement, Tesco’s is simple: ‘We make what matters better, together’ (2015). Tesco is known to be the seller of everything to everyone and it’s vision is ‘To be the most highly valued business by: the customers we serve, the communities in which we operate, our loyal and committed colleagues and of course, our shareholders.’ (2015). The long-term success of this company centers around it’s continuity in aim and it’s adaptability with circumstances. Strategic plans evolve to with the clear competitive intention to be the best.

Profits for Tesco’s operations in Europe, Asia and Ireland increased by 78% during the last fiscal year. The company has a strong brand image, and is associated with good quality, trustworthy goods that represent excellent value. Tesco’s innovative ways of improving the customer shopping experience, as well as its efforts to branch out into finance and insurance have also capitalized on this.

concept of the Balanced Scorecard (BSC) and to find out the actual meaning of using it.

Tesco’s biggest weakness is its increasing of debt. As growing its network worldwide, Tesco has undergone into huge financial debt. Tesco has not been able to get rid off from debt in last year as compared to its competitors. Dues to this financial crises, Tesco has been withdrawn a series of products from the market. This has been concluded in a huge financial loss also, has been damaged its image in market.

In this part of my report I am focusing on the Stakeholders of Tesco, These are the people who have an interest in and influence on the business and the way it operates.

Initially, Tesco has tried to do many things to help people including both internal and external stakeholders. According to Inman (2013), Tesco decided to increase the wages of their workers, which their reason was to return their profit back to their employees. However, there is still a conflict on how

Fiscal policy which is linked with taxes, vat and cooperation tax. Loans may be offered to Tesco if they are struggling on buying new products and better products. For example, during the recession Tesco might not be doing as well as they need to be and they might not be able to spend much money on new things that would increase the amount of money they make. They may then take a loan out from the government so that they can afford what they need to buy. However, they do need to pay this back as well as the interest rate. On the other hand, In 2007 Tesco

The above scores shows that although Tesco has work throughout all the issues that the company has faced in the last few year and after recession, however, it would be appropriate for the company to amend their business strategies so is increase their business performance in the UK market.

Tesco is going through an overhaul of management and strategy after a horrendous 18 months period with competition from fast-growing discounters Aldi and Lidl coupled with an accounting scandal, driving it to a record annual loss of £ 6.38 billion in the last full year. However, to the relief of the investors Tesco announced that its sales revenue in the recent quarter (March to May) has improved with just a 1.3% fall in like-for-like UK sales compared with the 1.7% decline registered in the previous quarter. Also, there was an increase in like-for-like volume sales by 1.4% during those three months indicating that the new CEO Dave Lewis's turnaround plan is starting to have an impact.

I am here today to give a speech for you about Tesco’s current situation, and how we plan to deal with it, as one of the largest retailers. With the changing consumer behavior in kept in mind.

The balanced scorecard (BSC) is a technique execution administration device - a semi-standard organized report, bolstered by configuration routines and mechanization instruments that can be utilized by directors to stay informed concerning the execution of exercises by the staff inside of their control and to screen the outcomes emerging from these activities.

This is a report to demonstrate the financial position of Tesco plc. In performing this report the annual report of Tesco plc. was analysed and carefully reviewed. In addition to this, in order to compare the company’s performance, the financial statement is compared to its closest competitor which is Sainsbury’s.