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Business Studies Report - Tesco.

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Introduction

Business Studies Report Tesco. I have been asked to produce a business report on a company of my choice. I have been required by my teacher to complete this task in order to assess how I gather and present information from different sources. The majority of the information I have acquired is from the Tesco website (www.tesco.com), however I did also have some background knowledge, and I read some previous articles about the company in press releases and magazines. The focus of the report is to find out about the company's history, its aims and objectives, it's current and any previous legal statuses. Jack Cohen founded Tesco in 1924. He began by selling groceries on a market stall in London, and the brand name was first only printed on bags of tea. The first Tesco store was opened in Edgwell in 1929 as a partnership with T E Stockwell. ...read more.

Middle

* Non-food business: We now have a 6% market share. Our goal is to be as strong in non-food as we are in our food products. * Retailing services: As customers' shopping habits change, we aim to change and respond by providing new products and services. We aim to remain as the worlds largest grocery e-tailer. * International: Tesco has successfully opened up new growth markets in Central Europe and Asia. The proportion of total Group space outside of the UK was 49% at the 2003/2004-year end. We aim to expand our operating stores in the Czech Republic, Hungary, Poland, Republic of Ireland, Slovak Republic, Turkey, Japan, Malaysia, South Korea, Taiwan, and Thailand. The business is currently a public limited company selling shares on the stock exchange for about 286.00p per share. It is located in the FTSE 100, and employs around 195,000 people in the UK, 41,000 in the rest of Europe, and 24,000 in the rest of the world. ...read more.

Conclusion

One of the reasons the company has become so successful is its ability to expand into new areas of customer interest to keep the market on its feet. Customers no longer have the lifestyle with lots of time to shop all over so Tesco have identified the need to sell everything under one roof. They have changed with the trend and as a result have become the leading supermarket in the UK. I think the company is run well through the board of directors because it eliminates the bias that a company run solely by the actual owners for the purpose of making profit creates. It allows different viewpoints to be expressed clearly and choices to be reasoned thoroughly before they are finalised. I think if the business continues to run as it does at present and keeps on its toes to provide full customer satisfaction, then it will remain one of the best supermarkets, and continue to be successful all over the globe. ...read more.

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