Unit 1
Task 1
P1
Task = “Describe the type of business, purpose and ownership of 2 contrasting organizations”
For this task I have chosen Tesco to be my organization from the Large private sector and I have chosen the Post Office to be my organization from the Small public sector.
Organization 1 – Tesco
What type of business is Tesco?
- Tesco is a Public Limited Company (PLC); this is usually a small business and their shares are sold freely to the open public as they can easily purchase their shares and most PLC’s are able to earn a fairly large amount of Capital at a quite fast pace which is good.
What is the size of Tesco’s business?
- Now, Tesco as become more widely popular overtime in the UK since it was first invented and has since
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What type of ownership does Tesco have?
- Tesco is a Public Limited Company that is verified onto the stock market; this ultimately means that Tesco is owned by thousands of different people because of it being a PLC and moreover it is also owned by the shareholders that fund Tesco.
Does Tesco have limited or unlimited liability?
- Due to the fact that Tesco is in the tertiary sector it has limited liability; this means that if they get sued by an unhappy customer the “higher people” on the executive’s board will deffinatley not be affected it also means that the owners do not have to pay any debts towards the business as they are not responsible (whereas if this was unlimited liability they will be 100% no matter what). It will only negatively affect the company not the owners.
What are Tesco’s aims?
- Tesco’s aims are to maximize their profits as much as they can and increase their market share all whilst gaining their customers
Online Stores Tesco wants go into other markets because they would be bringing in more customers, which are going to increase profit. They also have another aim which is to expand internationally because they already operate within the Europe. They have to set themselves new aims and objectives that are harder to achieve as it’s the expanding further.
Tesco PLC's Expansion in North Bracknell Introduction: Tesco PLC is an international supermarket not only selling high quality goods but has now also become one of the biggest job markets. As well as this Tesco has been running sub-projects to increase the level of customer care. [IMAGE] Tesco's main aims are shown by the steering wheel provided by their website (www.tesco.com). Tesco want to have good quality for value to earn their customers loyalty while still making a profit. I will be investigating the Tesco Superstore, petrol station, pharmacy and coffee shop in North Bracknell (Warfield).
Tesco also has various and wide range of products and that is to meet customers’ needs of whatever customers intend to buy, nearly whatever customer intends to buy would find it underneath one ceiling (at Tesco). On the top of selling groceries Tesco sells others products such as, books, CDs, DVDs to buy, DVDs to rent, games, flowers, electronics, cosmetics, etc.
Tesco’s objective is to be the ‘champion for customers’, and they want to achieve this by being number one in customer satisfaction. They want to grow globally and by doing this they ‘create value for customers to earn their lifetime loyalty’. Tesco is
Tesco is trying to gain as high profits as they can because company investors or shareholders might thing about investing more money in to the business because of its success and development. Tesco wants to make its investors satisfied because it may affect business future.
Although I have taken into consideration that Tescos receive hundreds of e-mails a day and may have problems with replying to them all in relation to time management. Tescos have created excellent communication channels within the business and outside the business which enables them to achieve its business aims effectively for example their website helps them to build strong relationships with customers, which is one factor that helps Tescos to stay ahead of competition and remain the leading supermarket ahead of Asda and Sainsbury’s who are currently in second and third place.
Tesco’s activity is productive service factors, therefore, operation may be attacked on a second chance, and every day to make the services and products provided at open, according to time cage, the task of the stock market. To achieve the further advantage of the competition, Telco should considers in working time in these places, it is not ...
This is not different with the retailing industry as this is one of the largest growing companies globally. Over the past years, this market was regarded to have less concern on environmental aspects but has since attracted significant changes. In terms of capacity, productivity and revenue, Tesco PLC boasts of being the third largest retailer globally. The firm is based in UK but operates in 14 states (Profile, 2014). The company also is known for its well established social respo...
Tesco is the largest retailer in UK. It is a public limited company which sells multinational grocery, health and beauty product, household items and toys etc. Since Jack Cohen founded Tesco in London’s East End at 1919 and now it has sprouted branches in 12 countries with over 7,800 stores include franchises. Tesco hire over 530,000 employees and they serve over tens of millions customers per week. Tesco
They are highly skilled in areas of design, technology, training, and research and development. In addition, Tesco has a superior presence in the area of manufacturing.
Exploring the Types of Business Organisations There are two Business Sectors: Public Sector These are businesses owned and run by the government. Some examples of Services provided in the public sector are the postal service, schools, colleges, housing environment, some bus and train services, fire, police, ambulance and local justice and social services. Their method of raising capital is different as Private Sector businesses have to raise their own capital e.g. their own money, a bank loan etc. The Public Sector business can get the money required from the Treasury or from local rates.
Over the years, Tesco has recorded growth which has been achieved through different strategies. The company has adopted its growth strategy which has been implemented in four different parts. One has been emphasis on the growth of Core UK business in order to expand internationally. This growth has allowed that company to position itself in food and nonfood sectors based on retailing services. Over the years, the company has witnessed financial fortunes which have been reflected in its growing sales.
According to Cooper and Owen (2007) accountability is a somewhat unclear term. This is not because the exact definition of being accountable ‘required or expected to justify actions or decisions; responsible’ (Oxforddictionaries.com, 2014) is hard to understand, it is because the question still remains as to whom is the accountable person is supposed to justify their actions to? Three parties can be identified as possible recipients of this justification: The shareholders, the stakeholders and society in general (Cooper and Owen, 2007). If the first party (the shareholders) is the one Tesco were accountable to then Tesco can be perceived to have done nothing wrong as their primary objective may have been to maximise the wealth of the shareholders . However if the shareholders were not the recipients of the accountability and the stakeholders and society in general are Tesco has come without a doubt committed a wrongdoing.
Sole tradership is when the business is fully owned and managed by one person, though others can be employed to help run the business. As the sole traders only financial income is from the business and/or bank loan, they do not have the resources to expand and cover regional or national areas. These types of businesses are located in the small business sector and usually cover local areas. Such businesses could be hairdressers, corner shops or market stalls etc. Sole traderships have unlimited liability so if the business fails to pay its debts the financial responsibility falls on the owner/s to pay the debts in full even if they have to sell their business, personal possessions and assets.
The advancements in the technological world have allowed supermarket chains and other national stores to quickly dominate the market and are driving out the concept of the ‘local stores’. This surge in the market has seen shares rise and profits bulge with the three main contenders in mind being Sainsburys, Safeways and Tescos who now serve the whole of the UK between them and are the household names of the shopping world. The ICT input to these businesses is vital in that it provides speedy service; controls stock levels and will even allow bank balance transfers to be carried out with minimal difficulty or technical experience.