The Aims and Objectives of Tesco

395 Words1 Page

The Aims and Objectives of Tesco What is a Mission Statement? A mission statement sets out the general purpose of a business. It helps employees work towards a common goal. Tesco’s Mission Statement Tesco’s mission statement is to Retain Loyal People. To make sure Tesco achieve their mission statement, they need to know who their loyal customers are. That is why Tesco has got a club card service, through which they can award people by giving them special vouchers and extra points. What is an Aim? A business aim is an organisation’s long-term goal. What is an Objective? Objectives are goals that a firm sets itself for the next three or five years. They have a timescale, they must be measurable and they must contribute to the business achieving its aims. How Objectives Blend in with each other All of Tesco’s objectives blend in with each other. None of the objectives will work without each other. For example; the business will not have any customers if the business is not operating well. Share holders will not invest money in the business, if the business hasn’t got any customers. The company will not be able to afford to have any employees working for them if they haven’t got money being invested in the business. For instance, if the Tesco PLC wants to expand their business, they will have to make sure that they get enough profit to be able to open that business. [IMAGE] How Objectives change over a period of time Objectives change over a period of time due to various reasons. Some of theses reasons are listed below: · Competition- Tesco might like to change their objectives, if another competition moves in the same area; they will do this so that they still have the customers coming to them. For instance, if Tesco is making a profit of £5 per book, their books might not sell, because the competition is selling their books cheaper. So in order for the

Show More
Related

  • Political Factors Affecting Tesco

    313 Words  | 1 Pages

    There are a variety of political factors affecting Tesco such as employment legislations. This means that the government urges retailers such as Tesco to provide a varied number of job opportunities. These opportunities includes job flexibility, lower paid jobs, higher paid job for those who are highly skilled and locally and centrally based jobs.

    Read More

  • Tesco PLC and Its Effective Recruitment and Selection

    921 Words  | 2 Pages

    applied for is. To apply for a particular job, all that has to be done

    Read More

  • Business Studies Report on Tesco

    648 Words  | 2 Pages

    bags of tea. The first Tesco store was opened in Edgwell in 1929 as a

    Read More

  • Overall Summary on Existing Customer Service at Morrisons plc

    767 Words  | 2 Pages

    withdraw money at the store and do not need to travel to the bank so

    Read More

  • Analysis of Resources, Capabilities, and Core Competencies of Tesco

    1946 Words  | 4 Pages

    4.2 Analysis of Resources, Capabilities, and Core Competencies. Selecting a business strategy that details valuable resources and distinctive competencies, strategizing all resources and capabilities and ensuring they are all employed and exploited, and building and regenerating valuable resources and distinctive competencies is key. The analysis of resources, capabilities and core competencies describes the external environment, which is subject to change quickly. Based off this information, a firm has to be prepared and know its internal resources and capabilities and offer a more secure strategy. Furthermore, resources and capabilities are the primary sources of profitability.

    Read More

  • The impact of economies and diseconomies of scale Tesco face

    961 Words  | 2 Pages

    you get 5p per litre off your fuel’ and also ‘Buy one get one free’.

    Read More

  • Managing Performance at Halifax plc

    1618 Words  | 4 Pages

    The email from the District Manager John West to the Customer Marketing Area Manager, Alan Clarke:

    Read More

  • Identify Marks and Spencers market position and determine why they nearly collapsed

    3095 Words  | 7 Pages

    Marks & Spencer is one of the UK's foremost retailers of clothing, foods, homeware and financial services, boasting a weekly customer base of 10 million in over 300 UK stores. Marks & Spencer operate in 30 countries worldwide, and has a group turnover in excess of £8 billion. It has specific values, missions and visions. It’s main vision is ‘to be the standard against which all others are measured’, it’s main mission is ‘to make aspirational quality accessible to all’, and it’s main values are quality, service, innovation and trust. (www.marksandspencer.co.uk).

    Read More

  • Mark & Spencer and Corporate Governance

    1426 Words  | 3 Pages

    Corporate gorverance as a system are directed and controlld by companies. Initially, their board of directors should take responsible for the gorverance of companies, which include setting strategic aims of companies , guarantee an effective leadership, supervising the proformance of business management and reporting on it to shareholders. The board's action should comply with the law, regulations and shareholders. In addition, the shareholders also play an important role in gorverance and they have right to decide who can be employed as the companies' directors and auditors to provide good governance structure for them. Therefore, corporate goverance can be regarded as what the board of a company does and how it sets the values of the company.

    Read More

  • Cosco And Woolworths Case Study

    1519 Words  | 4 Pages

    Supermarket businesses are purposed to provide diversity of goods for daily life consumption. In comparison to other industries in Australia, the supermarket industry is one of the most competitive industries. Companies like Coles Supermarket and Woolworths are giant market leaders. Founded in 1960, Coles Supermarket is one of the leading and significant parts of the Australian supermarket sector. The supermarket chain is owned by Westfarmers. Coles owns 801 stores all over Australia and employs around one hundred thousand workers within. Coles is definitely one of the leading players of the market compared to its competitors. Its popularity grew rapidly in the marketplace. The four biggest companies in the supermarket industry jointly takeover 80 per cent of the revenue of the supermarket

    Read More

  • Marketing Case Study: Tesco

    1849 Words  | 4 Pages

    Customer demands are changing, and include the demand for a higher level of CSR, greater responsiveness to customer feedback, accessibility to sustainable goods, and organic foods and more. ASDA is more aware and responsive to these because of their active CSR campaign, and social media presence (ASDA Sustainability; 2016; Penderous, 2013). However, TESCO has an online shopping platform, clubcard services, and social media presence, all of which are +supporting social interaction with consumers and ongoing loyalty, largely built on a perceived social relationship (Molloy, 2016; Drennan, 2012).

    Read More

  • Tesco Wage Issues

    468 Words  | 1 Pages

    Just recently, Tesco, a supermarket company, received the largest equal pay claim in the UK at a staggering four billion british pounds. Numerous claims similar to this have been instituted in companies across the UK in hopes of closing the wage gap between female and male dominated jobs. The push for change is riding on the laws passed in 1984 stating, “Workers doing jobs that require comparable skills, have similar levels of responsibility and are of comparable worth to the employer, should also be rewarded equally.” Lawyers supporting the case for equal pay state female workers have a lower paycheck than men and in fact, recent statistics show that women in the UK are normally paid £8 to a man’s

    Read More

  • Tesco Case Study

    1984 Words  | 4 Pages

    Tesco, well known as Britain's leading food retail group with a presence also elsewhere in Europe, Asia and the United States has also been a pioneer online.

    Read More

  • Tesco Case Study

    1866 Words  | 4 Pages

    Tesco is an impressive company. The British-based international grocery and general merchandising retail group operates 4331 stores across 14 countries, employs 470,000 people, and in 2009 generated £59.4bn in sales. Tesco is the largest private sector employer in the United Kingdom, and is currently the third largest global retailer based on revenue and the second largest based on profit. (Marr, 2009).Tesco began life in 1919 when Jack Cohen began contribution surplus staple goods from a stall in the East End of London. Mr Cohen made a benefit of £1 from offers of £4 on his first day (Clark, 2008).The Tesco mark originally seemed five years after the fact in 1924 when he purchased a shipment of tea from a Mr T. E Stockwell. The initials and letters were consolidated to structure Tes-co and in 1929 Mr Cohen opened the lead Tesco store in Burnt Oak, North London (Clark, 2008)

    Read More

  • Value Chain Analysis: A Strategic Analysis Of Unilever

    2016 Words  | 5 Pages

    Value chain analyses a firm 's internal activities such as planning, production, and development, packaging and distribution so as to create value for clients. The function of the value chain is to identify the sources for cost reduction along with quality improvement. It means value chain is used to identify the strong and weak points, positive and negative points, the scope of improvement; in a nutshell, the advantages and disadvantages of the activities taking place in the system. The value chain is also called as a strategic analysis tool and it is a well-known concept in business management industry.

    Read More

More about The Aims and Objectives of Tesco

Open Document