Business Environment of Tesco - Report
Added on 2020-01-23
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BUSINESS AND BUSINESSENVIRONMENT 1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3P1 Different kind and purpose of business..................................................................................32
INTRODUCTION The concept of business environment is comprised of several factors that has direct andindirect impact on the growth and expansion of the firm. At present there is existence of hugecompetition in the market which force the business towards laying emphasis on the newstrategies. In the present study business and business environment has been discussed in contextof Iceland. It is considered as one of the largest supermarket. The present study lay emphasis onthe business department that conduct functions of firm. Apart from this it exert pressure onfactors that are needed to be determined by business in order to perform in successful manner.Moreover it demonstrates the application of various models for the organization. P1 Different kind and purpose of businessThere is presence of three kind of business that possess varied aims and objectives. Thecompanies have been set up in order to earn profitability or for the welfare of the society. Thetypes of business are enumerated in the manner stated as under: Public: This kind of business lay emphasis on offering services but major motive istowards meeting the needs and expectations of the people. For instance Tesco is publiclimited that is not concerned with profit making. They offer food products withineconomical price. Their aim is to see each people has adequate food so that they are ableto survive happily. Here government takes the decision regarding the pricing andproduction. They view that all the operations are conducted in favor of the individuals.Apart from this accounting relating information are monitored by regulatory authority.The mission that Tesco has is towards creating value for the customers and desires toattain their loyalty. Private: The aim of the private business is towards increasing their profitability andenhance target market. All the strategies and tactics are developed for firm for the sake ofbringing enhancement within the profitability. The mission that is possessed by Icelandsupermarket is to be on the top in relation with frozen food and meat products. The visionthat business has is towards creating competitive edge in relation to frozen meat products.The business possess certain key stakeholders that is comprised of employees, suppliers,government etc. Moreover the private business is concerned regarding the welfare of thetarget market. Along with this there is no government intervention in the decision making3
procedure of firm. This increases freedom of firm in taking decisions that sometimes donot favor the customers. Apart from this prices and output decisions are taken by them inaccordance with the trend in the market. Voluntary: Such types of business are set up to curb the issues that are being faced byindividual in the society. The major aim is towards serving the people without emphasison individual advantages. Oxfam is considered as charitable firm of UK that is developedtowards reducing global poverty. It has been established in order assist the individualwho are experiencing condition of poverty to a greater extent. This is being formed forthe sake of supporting famine relief fund. Such type of business assist the people who areunable to earn their livelihood. Along with this they are offered with greater assistance bythe government in relation with finance and with respect to raw material. The Oxfam hasthe mission that is towards development of structure that can offer greater benefit ti theindividual in longer course of time. P2 Size and scope of range of varied kind of businessesThe size and scope of several type of business has been presented in the manner stated asbelow: Private business: The company has 1.8% share in the food market of United Kingdom.The firm has opened around 7 stores within Dublin. The firm has made acquisition of around 7Irish store in the year 2013. The firm that is Iceland supermarket is carrying out its operations ingreater than 10 countries. It has made introduction of online shopping within the year 2014. Public company: It possess the highest share with respect to market in United Kingdom.Along with this the company possess the revenue of £54.433 billion in the year 2016. It has beenassessed that Tesco has around 476000 personnel who are carrying out the operations within thefirm. It possess its stores within 12 countries that is comprised of Europe and Asia. Voluntary business: It is considered as the business that is performing with thousands oflocal business. Along with this possess around 1200 shops across the globe. Further it has madeorganization of music fest within UK. In addition to this within UK it possess 750 shops as well.The company has been awarded with charity of the year award. Above described data depicts the size and scope of all the three types of organisations.The size of a company is depicted from the number of employees which are working currently.4
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