Business Studies Report - Tesco.

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Business Studies Report


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 (), 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. In the 1930’s Tesco opened the first self-service supermarkets in America and by employing less staff they could offer lower priced goods to the public.  In 1947 Tesco became a PLC (public limited company) and floated its shares on the stock exchange at a value of around 25p per share. By the 1960’s Tesco had branched out into the sale of non-food produce. In 1979 Tesco annual turnover reached £1billion. By 1995, Tesco had become the largest food retailer in the UK, and is now market leader with a market share of more than 17%.

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The mission statement of Tesco is all about customers: ‘creating value for customers to earn their lifetime loyalty. No one tries harder for customers; treat customers how you would like to be treated’.They have four main aims and objectives: 

  • Core UK business: Our strategy of providing exceptional value and choice for customers ensures that we continue to grow market share.
  • 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 ...

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