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Tesco's Aims - SMART and PESTLE analysis.

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Introduction

Tarik Kerim AS Applied Business Unit 1 Investigating Business Introduction: Tesco’s core UK business is significant within the group as it has over 300,000 employees and exactly 2,979 stores with a revenue of £42,248m from 2011/2012. The place where the vast majority of the profit comes from are the UK stores where 60% of all the profits are made, this could be because Tesco started off as a UK company so which means there are more stores around the UK. Also Tesco’s has various different formats as they now have Tesco Express, Tesco One Stop, Tesco Metro etc. The company started off in 1924 and now have a widest range of food and have their own brands of food. The reason for Tesco being so successful is that they have gradually gained mutually beneficial and long term partnerships with various suppliers, this gives them the competitive edge. Although competition is fierce, Tesco’s results have a sustainable and efficient supply chain which means there is a guaranteed supply of items in store for all customers (supplier certainty). This gives Tesco’s the boost to invest in new and improved products In April 2012, Tesco announced a £1billion commitment for the year 2012/13 to improve the shopping experience for customers. ...read more.

Middle

Some of the examples of growth of the retail services are tesco mortgages, insurance and loans 5. To put our responsibilities to the communities we serve at the heart of what we do : A fifth point to the Tesco strategy was added in 2007 to be able the ?underpin? the commitment they had to the community, this was updated slightly in 2011. The update was that they emphasised their responsibilities in those areas, this created the goal for their responsibility towards the UK customers. SMART Objective : Expand on the strategy again by gathering more detailed and specific commitment feedback from 30 randomly selected customers from each Tesco store. Using the information recieved, choose which areas had weaknesses and update them to satisfy the customer needs by the end of 2013 depending on what the improvements consist of. Explanation : Tesco made their aim to emphasise their responsibilities towards the customers and leave them with a quality value service. 6. To be a creator of highly valued brands : Tesco has vastly improved from the beginning to once having a few small UK stores, to the Tesco logo being a popular world-wide business. Tesco own brand is made appealing to customers all over which gives them high quality products at competitive prices. ...read more.

Conclusion

Automation : Machinery that is operated solely by computers, this reduces the price of production and increases the quality. Technology incentives : Legal Influence to the companies costs and operations, also the demand toward a certain product on the market. These factors will include ? Employment Law : This protects employees from abuse/torment from employers) Health and Satefy Law : This protects the health, safety and welfare of the general public) Consumer Law : Focuses on giving protection to the consumer when buying a product, they are designed to ensure fair competition and free flow of truthful information) Anti-trust Law : This is what makes businesses compete fairly, they are also referred to as ?competition laws?) Environmental These refer to the more weather related aspects such as climate changes and general weather. In the modern society, climate change is an important factor to companies and organisations as they are restructuring their operations to give them space to be able to innovate and build on being an environmentally friendly business. Value System : A set of values created by a person or organisation to guide its behaviour in all situations. Management Structure : Certain methods created in which the management of a company is organised, this helps businesses to hit their business aims. e.g. (become an environmentally friendly institute. Research Development : Gathering new knowledge on products and services and creating a better product or service that will fill the markets needs. ...read more.

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