Unit 1 First assignment
Tesco
Tesco is a PLC or Public Limited Company and anyone over the age of 18 can own Tesco shares. For
example, if you are an adult over the age of 18, you can buy shares online or on a stock exchange. Stocks
then fluctuate according to the market. total debt for Tesco in 2022 was US$46.233 billion. Tesco's total
debt in 2021 was US$43.355 billion. Tesco's total debt in 2020 was $49.912 billion. Tesco was founded
with the simple goal of providing the best possible service to our customers and making their lives better
and easier. it remained constant. It is our responsibility to provide our customers with superior products
that are readily available and cost effective. Their main goal is to "serve consumers a little bit better
every day." Customer service is the foundation of everything we do as a retailer, from our colleagues in
the store to the people who work in support. Tesco is a retailer trading under the name Tesco PLC. The
Company provides retail banking and insurance services, retail, and related activities (Retail). The
market size in which Tesco sells its goods and services determines its business size. Tesco is one of the
world's leading food retailers, operating approximately 2,318 stores and employing over 326,000 people
(about half the population of Wyoming). It offers online services through its subsidiary Tesco. The
company is headquartered in Hertfordshire, United Kingdom and employs approximately
354,000 people. Tesco operates almost 5,000 stores around the world.
The annual revenue of Tesco:
2022- £56,404 million
2021- £53,170 million
2020- £52,898 million
2019- £51,643 million
Aims and objective
Tesco's aims are to offer good customer service as well as high quality goods at affordable prices as a
retailer against its rival and focus on staying top as the leading retailer. Tesco's main goal is to boost as
many sales as possible to increase its profits. Their second target will be to lower their rates and make it
cheaper for regular household customers. Many of their goals will be to implement healthy eating goods
,to draw more consumers and create a safer lifestyle. Another aim will be to build an ecommerce
platform so that consumers would also have an online shopping experience, build shopping
timing, and make it easier for consumers and shop 24 hours a day while on the go. Some of
their aims are to bring down unemployment in local areas. The aims and objectives of Serving
our customers, communities, and planet a little better every day means they always keep
customers at the heart of what we do, while also reflecting their responsibilities to the
communities they serve and to society more broadly. Everything they do begins and ends with
their customers. By understanding their customers, they can anticipate and respond to their
needs and expectations. As a Group they serve a wide range of different customers, in different
settings, from retail customers through to banking, mobile, Booker’s wholesale customers, and
Dundhubi's retailer and supplier clients. Also, their main objective is to know what their
customers want.
the factors/elements of Tesco's organization structure that allows the business to achieve its
aims and objectives
The organizational structure of Tesco is composed of various components and elements that help to
achieve this goal. The decentralized nature of Tesco's organizational structure, for one, promotes
greater effectiveness and adaptability. This implies that the business can act swiftly in response to
market changes and take profitable decisions. Store managers, for instance, have the freedom to decide
on stock ordering, pricing, and promotions, all of which can enhance customer satisfaction and increase
sales. Second, Tesco's organizational design enables efficient coordination and cooperation between
teams and departments. The sharing of knowledge and concepts is made possible by regular gatherings
and communication channels. For instance, the buying, marketing, and supply chain teams collaborate
closely to make sure the right products are stocked at the appropriate time and effectively promoted.
Thirdly, Tesco's organizational structure includes a variety of job roles, from shop floor assistants to
senior executives, which promotes diversity and equal opportunity within the company. Employees feel
valued and motivated to contribute to the company's goals and as a result, create a positive workplace
culture. Tesco, for instance, wants to create a welcoming environment where everyone can realize their
potential. To that end, it has launched an inclusion and diversity initiative. Lastly, Tesco's organizational
structure includes a distinct hierarchy with established roles and responsibilities. By ensuring that each
worker is aware of their position within the company and the expectations placed on them, this
promotes accountability. As an illustration, the CEO (Chief Executive Officer) oversees the company's
overall strategy and direction, whereas team managers oversee the team's performance. To sum up,
Tesco's organizational structure is carefully created to support the accomplishment of its goals and
objectives. Decentralization, effective communication and collaboration, a diverse workforce, and clearly
defined roles and responsibilities are just a few of the elements that contribute to the success of the
company.
Stakeholders
, stakeholders What do they most care How does this affect what
about the business does?
owner They most care about the Business is running smooth
business' activities and how the
business is running
staff They Care about their wages They are taking money away from
the business
customers They most care about what This affects the business because
they buy they must make the product
good
suppliers They care about the money They must give money to
that comes from the businesses suppliers
Local community They care about how much the Must be a safe environment at
business the location
Other businesses Care about how Tesco is Must do better than other
making them lose customers businesses to take their
customers
government Care about the tax they get Must pay a lot of tax to the
from the business business
Tesco has 2 types of stakeholders, and they are either external or internal. The external
stakeholders are pressure groups, trade unions, employees, government, local. suppliers and
national communities. The internal stakeholders are Owners, Government, Creditors, Directors,
and Workers. The owners are the business, asset holder, and pay the workers. Pressure groups
do not put-up candidates for election but seek to influence government policy rules. The
