Essay
Unit 1 assignment 1 Exploring a business Distinction*
- Module
- Exploring a Business
- Institution
- PEARSON (PEARSON)
Distinction* level achieved
[Show more]
Seller
Follow
Content preview
Unit 1 Exploring a BusinessAssignment 1 Y1b
Learning Aim A
A1-Features of a business
A2-Stakeholders Influences
A3-Effective Business Communication
Learning Aim B
B1-Structure of an Organisation
B2- Aims and Objectives
Student Id: 2003132
Full name:
Hand Out date: 19th Oct 2020
Hand In date: 9th Nov 2020
Submitted on: 9th Nov 2020
1
, Content Page #
Introduction 3
Tesco Features 4
Water Aid Features 8
Tesco’s success 11
Water Aids success 19
Summary 29
Bibliography 34
2
, Introduction
I have been asked to research two businesses and contrast their business activities and
structure. businesses 1 private and 1 not for profit. I chose business 1 (Tesco) and business 2
(Water Aid).
Business organisations operate in different industrial sectors such as the primary sector
where natural materials are extracted, the secondary sector where materials are converted
into finished goods and then there is the tertiary sector which are services such as
restaurants and haircuts. There is also a sector known as the quaternary sector which is
where innovation and Research and development occur.
Tesco’s Features
Sector: Tesco is a company that operates in the tertiary sector since it doesn’t produce the
products it just provides them. It also operates in the private sector meaning it is a for profit
business with shareholders and investors who have ownership in the business.
Type of ownership and Scope: Public Limited company which sells shares to the public. Their
scope is retail selling groceries to the public.
The Shareholders of the company, who are key stakeholders, appoint directors to manage
their interests. This Is achieved by increasing competitive strategies that allow Tesco to
remain the dominant market leader. This ownership type means Tesco are protected by
limited liability meaning only those who invested are liable to the amount of personal
investments if Tesco were to fail.
Tesco demonstrates knowledge and understanding of customer needs and creating
employees fair work standards to ensure they have a friendly work environment to assist
developing a strong business reputation. The business is primarily grocery and food,
however expansion into non-food items such as electrical and clothing have increased the
scope of the business.
3
, Tesco’s business has continued to increase both revenue and operating profit which has
allowed them to increase shareholder dividends this allows them to be more attractive to
investors allowing them the opportunity to have retained profit for future growth
opportunities. (include revenue for 2019 and 2020 and operating profit).
Also, Tesco’s employees and customer’s safety are a high priority, as the stores become very
large and accommodate many people. Therefore, Tesco have managed to reduce accidents
and injury by 7% over the last few years. As Tesco grows the welfare of staff is important as
also is the safety and security of customers therefore investment in staff training and high-
quality fittings has helped reduce injury and accidents which will help create a more positive
perception of Tesco as a caring operator.
Additionally, Tesco is constantly adapting its products sustainability by reducing food waste
and only using plastic where it’s necessary. This has contributed to meeting their corporate
social responsibility objectives.
Furthermore, Tesco has cut 10,000 tonnes of unrecyclable plastic from products and
removed 1 billion pieces of plastic. This will lead to less pollution and proving they are
becoming more socially responsible and wary of the effects of climate change. Better
packaging will ultimately benefit Tesco in the long run since it creates a more attractive
perception from customers and the public at large. If this continues Tesco will have a more
positive relationship with the community which could further increase their revenues.
However, such concern for the environment does come at a cost. though this has not
impacted on increased profits.
Size: Tesco is the biggest food retailer in the UK their market share is 26.9% as of April 20 th,
2020 annual report. It employs over 340,000 people in the UK, with over 3,787 stores in the
UK.
Purpose: Tesco’s mission statement is “We make what matters better, together.” The
statement makes it clear that everyone in the company is part of their success. As a result, it
creates an environment where everyone in the business can achieve their potential to
contribute to the continued growth of the business. The mission drives the purpose
therefore It can be considered that Tesco is Profit driven. The mission influences the overall
business objectives such as growth by increasing sales and market share, cost minimisation
by being more efficient to keep costs down this allows Tesco to profit maximise. The
functional objectives of the business will be driven by these corporate objectives.
Tesco offer a good range of products and services from groceries, household products to
clothing and insurance and travel money. The main purpose of Tesco is to create a profit by
selling their products to customers and exceeding their expectations to achieve a
competitive advantage. Increasing profit year after year allows Tesco to profit maximise
which will be an important corporate objective that also adds value to shareholders because
the extra profit allows for increased dividend payments. this means that prices remain
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mustafaahmed1234. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now