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Investigating Business. Tesco PLC. I will be describing the aims and objectives of this business and the external environmental factors

Extracts from this document...

Introduction

Unit 1: Investigating Business Asim Ul-Haque Task 1 Aims & Objectives In this unit, I will be investigating into the major supermarket chain Tesco PLC. I will be describing the aims and objectives of this business and the external environmental factors which have affected the ability of this business to achieve their aims and objectives illustrating them with examples from the business. History ________________ Back in 1919, a person called Jack Cohen founded Tesco, at first he was selling groceries at a stall at Well Street Market, Hackney, in the East End of London. The Tesco brand then appeared in 1924. The first Tesco store was opened in 1929 in Burnt Oak, Edgware, and Middlesex. Tesco made its presence on the London Stock Exchange in 1947 as Tesco Stores (Holdings) Limited. During the 1950s and the 1960s Tesco grew organically, and also through acquisitions, until it owned more than 800 stores. Originally Tesco specialised in food and drink, now the business has broadened into different areas of retail such as clothing, electronics (Technika), financial services (Tesco Finance), telecoms (Tesco Mobile), home (Tesco Home Insurance, health, car, dental and pet insurance, retailing and renting DVDs, CDs, music downloads, Internet services and software. Today Tesco’s are making £67.6 million in sales, they have 492,714 people working at Tesco’s, they have 5,380 stores and they have over 200,000 shareholders. Tesco’s has 13 retail brands, 3 popular product brands (more to come in the foreseeable future) and 7 pillar brands. Aims ________________ In business, Aims are where the business wishes to see themselves in the future, in other words they are the long term intentions for a business, and it describes the overall goal that a business intends to achieve. Aims help a business measure whether or not they have been successful or not, should a business achieve or exceed their expectations then it is obvious that the business is successful, if an aim is not achieved by the business then the business may go bust. ...read more.

Middle

All these areas have been a great success for Tesco?s which have gain them lot more customers and profit, this is because they took a risk by going into areas in retailing. For Tesco?s to be able to have all this success Tesco?s needed the ability to inspire the staff and customers. Tesco?s must offer great training programs for their staff. If you ever shop at Tesco?s you can really see a good relationship between each employee this helps Tesco?s motivation to progress into new product areas. This motivation also helps the company take risks to inspire growth, for example when Tesco build new buildings, which would need good motivation Teams Teams are groups with clear objectives. In a team, the individual members of the group work together and support each other. Tesco?s go to say that their stores don't manage themselves but every store is run like a business in its own right - a busy, fast-moving, high-achieving, high-rewards business full of people who are dedicated to providing great customer service.. For employees to reach their full potential Tesco?s provide great leadership to their employees so then they can reach their full potential. Tesco?s believe that Flexibility is key. Their management teams ensure that their stores deliver to the crucial, customer-driven values that have made them a success. It's a simple but challenging philosophy that unites every part of the business. They call it ?Every Little Helps?, and their stores are at the very heart of it. Because Tesco?s is customer-driven, their view on leadership doesn't involve sitting in an office issuing instructions all the time. Employees would spend most of their time on the shop floor, seeing first-hand what makes their customers and staff tick. And there are times when everyone mucks in, such as when preparing for their busy evenings. The whole team work together to ensure stores are ready and that every shelf is stocked. ...read more.

Conclusion

ball of cabbage and gives it to his mother and they purchase it and the advert sports personality Frank Lampard appears in the advert, Frank Lampard was purposely included in the advert to garner attention and as he is a football player it made sense for him to appear in the advert as the son was playing football, but the main point of the advert was to encourage people to eat more green vegetables (e.g. cabbages) and be more active (e.g. playing football) to be more healthier. This make?s customers feel cared as Tesco?s are encouraging healthy lifestyles. In my point of view, I think that marketing activities is without a doubt, the most important activity that has help contributing to the success of Tesco?s over the other activities Team-working and Enterprise skills. The reason why I think this is important activity because the four aspects of marketing activities make a huge impact. Without these four aspects, Tesco?s wouldn?t be as successful as it is today. For Products, Customers need a wide range of products to choose from so they have choice. For price, price is a big factor in the customers decision in purchasing Tesco?s products and service?s because of whether the price is affordable, if customers can?t afford the products then that it will have a huge impact on Tesco?s business. Place is also a important factor in marketing activities for Tesco?s because without a place, Tesco?s wouldn?t have been able to sell their products and services, and they wouldn?t have the growth needed to build more outlets. Out of the entire factor?s in marketing activities, Promotion is the most important factor for Tesco?s because most of their awareness is produced from their advertising as their methods have made Tesco?s products and services aware to consumers, and without any of this is that without any of these promotions, Tesco?s wouldn?t have then be able to make all these sales and produce all these profits that have made them a successful business today. ...read more.

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