Executive summary- The following Report is done for Tesco stores (Malaysia). Tesco is formerly a leading retail chain in the United Kingdom. It is British’s largest multinational grocery store; with its head office is England. Tesco was founded in 1919 by jack Cohen. In terms of earnings it 's the third biggest retailer in the world and when it is considered by revenue it stands in the fifth place in the world.
He used his profit in buying products which other stores did not sell. Tesco today is focusing on doing the right thing for their customers, colleagues and the community it serves. Tesco opened one hundred stores by 1939. Today Tesco is the one of Britain’s leading food retailer with 586 stores. Tesco has 164,500 shareholders making profit about five hundred and five million pounds after tax.
• a growing business, full of opportunities • modern, innovative and full of ideas • winners locally whilst applying our skills globally • Inspiring, earning trust and loyalty from customers, our colleagues and communities (Our Tesco, 2015). This vision has helped Tesco to build its business globally and operate in multicultural and multifaceted environment. STRUCTURE Tesco’s employs a ‘decentralized structure’. In a decentralized structure, the decisions are taken at lower level of the management. Tesco’s each geographical location has a regional manager, the store manager is responsible to the regional manager and can make decisions specific to its store.
(Tesco 's was founded in 1919 in London and Jack Cohen bought a plot of land in 1934) since then the supermarket has expanded. The first supermarket was built in 1950 and subsequently it grew. Today there are 3,739 stores in the UK with over 310,000 colleagues. There are in excess of 6,000 stores worldwide. Brockenhurst
It is a major point of concern for the organisation, therefore it is essential to be aware of the changes in the policies. The changes in the rate of taxation or any other aspects can affect the financial balance of the organisation. Although, Tesco operate a business on an international platform, the organisation is strictly dependent on the UK market shares. The downturn of the disposable income state and household incomes, the organisation has adapted to the existing condition by focusing on the advertisement of brand value rather than luxuries
People working longer will increase the size of the labor force, but there will also be further pressure on services. This would affect TESCO products as people are curving more healthy products, thus Tesco started producing organic products, it provides as well an esteem added to its products and services. Technological factors: Technology is an intrinsic element to Tesco supply chain management of Tesco, it uses many technologies like wireless devices, self- checkout machines, intelligent scale, Radio Frequency Identification (RFID), Electronic shelf labeling, etc. The utilization of Electronic Funds Transfer Systems (EFTS), Electronic Point of Sale (EPS) and electronic scanners helps the company to improve stock activities and effectiveness of distribution (Tesco, 2014). Tesco as an online retailer would be able to sell a lot of good in sterling prices since it’s devaluating as a result competitors would be higher than its prices.
Tesco does not only operate in the UK, but is also a globally recognized organization branching out on a global scale to Thailand, Asia, Ireland, Europe, Hungary, and Malaysia. The management team comprises of the Chairman, a group of Chief Executives, Financial Officers, and Non- executive Directors. Tesco was originally only a UK centered retailer, ever since 1990, it
Tesco PLC is a British retailer with its headquarters in Welwyn Garden City in England. It was founded by Jack Cohen in 1919. Tesco classified as the third largest retailer in the world, having more than 6000 stores. The first Tesco store was in London in 1929 with its first product a tea. Currently, Tesco is retailing a variety of products for instants: cloths, furniture and toys.
These three have helped Tesco to gain more customers as these methods are very common nowadays. Technology has a big role on a business’ success as everything is done by it. Legal factors affect the business positively as there are some rules and regulations to follow by Tesco to run a business. There are some important laws such as the health and safety act 1974, National minimum wage act 1998 and sales of goods act 1979. These laws help the business and the employees to be motivated in their workplace and it helps the business to be run smoothly.
Tesco, as a global retailer, operates in more than 12 markets across Asia and Europe. Tesco currently has employees that are estimated to be over 500K (Tesco plc, 2016). Tesco like any other business sat its corporate goals and actions that are aimed at maximizing shareholders wealth. In its annual report 2015, Tesco stated its corporate goals as: maximizing sales by reducing prices so as to increase profit, introducing healthy eating products into the wide range of groceries they supply, developing a large internet shopping website, providing employment opportunities to the local community, and to becoming an outstanding international retail store (http://www.tescoplc.com,