• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Usiness at work - Tesco was founded in 1924 by Sir Jack Cohen. Over the last 78 years, as the food retailing market has changed, the company has grown and developed, responding to new opportunities and pioneering many innovations.

Extracts from this document...

Introduction

USINESS AT WORK COURSEWORK TESCO PLC Introduction Tesco was founded in 1924 by Sir Jack Cohen. Over the last 78 years, as the food retailing market has changed, the company has grown and developed, responding to new opportunities and pioneering many innovations. Today it is Britain's leading food retailer with 639 stores around the country. Profits have risen by 11.9% since last year. OBJECTIVES * Increase food sales * Develop non-food business * Offer the convenience of one-stop shopping to their customers * Expand their hypermarket business in central Europe and Asia. Currently, international growth has gone up by 32.3% to �2.3bn and contributed �59m to profits up 78.8% to last year. * Increase value for customers and to enhance returns to shareholders *????Continually lower prices that customers pay for everyday products, current prices are 12.5% lower than they were in 1996 and in the first half of this year, they had deflation of 1.6% * Increase their investment in the environment * Continue helping charities * Provide better services to ...read more.

Middle

3. Since it has many shareholders, many ideas are brought into the business and the best ones are chosen on how to operate the company. 4. It has unlimited liability 5. Its large size enables it to enjoy economies of scale such as being able to buy in bulk 6. Its size will also enable them buy special equipment and machinery which will save in labour and expenses 7. It can find it easier to borrow money than smaller businesses during financial difficulties because they are at less risk of going bankrupt than smaller firms. Disadvantages of being a PLC 1. Each of Tesco's shareholders has very little say on how to run the business unless they own a lot of shares. 2. it's easy for someone to buy enough shares to take over the business if they think they can make more profit which means the current shareowners loose out. 3. This means unlike other businesses, a PLC find it hard to sacrifice profit to other objectives like helping the environment. ...read more.

Conclusion

The customers are happy with its products and I think they will continue supporting it since it also gives back by donating money to charities and also helping preserve the environment in a way that it gives recyclable carrier bags, fund for environment protection agencies etc. It has also started selling non-food products like electronics, DVDs, health and beauty products which shows that it is indeed investing in other markets. Non food products have also had a 300% increase in sales. It's making it easier for customers to shop by having online ordering where they can order the goods and get them delivered to their door steps free of charge. This increases sales and Tesco tries to make it popular by offering free delivery. Generally looking at the chairman's statement I obtained from the internet, financial group sales increased by 10.6% to �12.7bn (2001-�11.5bn), profit before tax increased by 13.3% to �545m, UK sales alone grew by 6.8% to �10.5bn (2001-�9.8bn) of which 3.9% came from existing stores and 2.9% from new net stores which shows that internet is booming. Compiled by Anthony Nuwagira ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. Marked by a teacher

    Marketing Management - Swisher Mower and Machine Company.

    5 star(s)

    g) Assume the new mowers under proposal ("PL") occupied the same capacity as Ride King did. h) Assume after negotiation, title can be transferred upon shipment from SMC. Sales Analysis (Table A) Total Ride King Sales, both the original and those from Private Label proposal ("PL"), would be 4,874, 12,100 and

  2. Marked by a teacher

    ASDA's Ownership

    4 star(s)

    Financial Help from the Government In some regions in the UK they have Assisted Areas. Assisted Areas are areas that receive financial help from the Regional Selective Assistance (RSA). They provide employment opportunities, increase competitiveness and prosperity. In 1998 all European guidelines changed and new Assisted Areas were due to operate from the 1st January 2001.

  1. The Business Environment Coursework. Describe the type of business, purpose and ownership of ...

    The on-the-spot fine for smoking in a workplace is �50, �30 if one pays within 15 days, while a business that allows it can be fined �2,500 Smoking will be allowed to continue anywhere outdoors. However, a confidential government briefing obtained by The Independent on Sunday newspaper reveals that provisions

  2. Political, legal, social factors affacting Tesco.

    One thing that has dominated the business and the news is the credit crunch this has impacted on all business.

  1. For my portfolio, I was asked to do an assignment on two businesses. I ...

    Retail, distribution, hotels and catering services. It includes business like retail sales and wholesalers such as Sainsbury, Asda, Safeway, Mcdonalds, K FC, Argos, Corner Shop, and Microsoft. In this sector it includes business like hotel, restaurant, bars and canteens. c) Are those sectors growing or decline in United Kingdom?

  2. Introduction to Tesco

    Express Tesco first introduced Tesco express stores in 1994. Tesco express is a combination of a filling station and retail sites. They sell quality Tesco goods at low prices for people who want to pick up a bit of shopping as they put in some petrol.

  1. Vodafone Plc

    It will also look at what its competitors are doing for e.g. 121, Orange and BT Cellnet. The style of leadership or management a manager adopts can affect the performance of those who there manager is responsible. Business organisation wants to achieve the best performance out of their workplace and

  2. Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

    When there are low levels of economic activity, then consumers tend to spend less and save money for a rainy day, so then consumers wouldn?t be spending on luxuries or buying a lot of products from businesses ? from that business?s wouldn?t be making much profits.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work