unit 1 assignment 1, p1,p2,p3 all passed and using the businesses Tesco and Oxfam with a detailed description of each business, their stakeholders and personal skill audit examples. also which type of plc the businesses are.
UNIT 1 Assignment 1- Exploring Business
Brooke Taylor
25/02/22
, P1- Explain the features of two contrasting businesses
Tesco is a popular British groceries store, founded in 1919 by jack Cohen in hackney. The
name was first created and appeared in 1924, after Cohen started purchasing tea from T.E
Stockwell and they combined their initials. After this the first Tesco store opened in Burnt
oak, Barnet, 1931. Tesco first started off selling groceries then in 1960 began selling many
products such as groceries, clothes, household appliances, cosmetics, electronics, petrol and
many more.
Tesco’s PLC is in the tertiary sector as it provides goods and services provided by
manufactures to the public and make a profit at the end. Tesco use a variety of
manufactures to cater to all customer needs making them very successful. However,
sometimes they can come under secondary as they manufacture and sell some products
under a range called ‘Tesco own brand’ and have a freshly made goods from their own
bakery in store.
The main purpose of Tesco is to make profit and expand whilst providing customers with
high quality products for good value and allow customers to earn lifetime loyalty, this is to
maximise profits for stakeholders at the same time as maintaining a great reputation.
The ownership of Tesco is a private limited company (PLC) and shareholders, which are sold
publicly in the stock exchange market meaning Tesco has no ownership through the
government. There is no limit to the number of shareholders, raising a large capital sum.
Black rock inc is one of the largest shareholders of Tesco as they as they hold approximately
6.64% of shares
Oxfam is a well-known British charity committed to helping victims of famine and natural
disasters along with improving living conditions in developing countries. Oxfam was founded
in 1942 by Cecil Jackson Cole. Oxfam sells donated goods such as books, clothes, homeware
and many more all for more than half of the original price.
Oxfam comes under tertiary sector as it provides goods to the public and make profit at the
end to provide a service for the less fortunate.
The main purpose of Oxfam is to help maintain solutions of reducing poverty. They
encourage people to create a secure future with control over their over life and are part of a
global movement for change which helps these factors. Another purpose of Oxfam is to
create a gender equality society and educate people.
As Oxfam is a charity shop it doesn’t have ownership because it is run by directors, if the
business ever closed the charity would donate all their donations to other charities, this is
one of the best ways to run a business as it’s not there to make profit any owner keeps it’s
them to make profit for other people and raise awareness.
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