Business in Practice

Business practises are the methods used to
do this in the most cost-effective manner. A
company may have business practises
standards in place to guarantee that its
personnel are efficient in their job and
comply with applicable regulations.
Opportunities: By entering the digital
retail market, the company may improve
its revenues. To effectively penetrate an
international market, TESCO might
develop joint partnerships with regional
enterprises.
Threats: International and domestic
competitors such as Sainsbury, Aldi,
Morrison pose a significant threat to
TESCO. The present worldwide financial
crisis threatens the firm's
competitiveness.
Tesco is a worldwide grocery and retail
corporation that specialises in the sale of
clothing, electronics, and furniture, among
other things. Its headquarters are in London,
and it was founded in 1919 by Jack Cohen.
Strength: With a market share of more
than 34%, TESCO is the market leader in
the UK retail business. TESCO draws
customers by offering a wide range of
items under one roof.
Weaknesses: TESCO's low-cost
approach makes it the pricing leader in
the UK, but it has a detrimental impact on
the company's earnings. Due to its vital
position in the United Kingdom, the
corporation has unable to expand into
other markets.
Business in Practice
INTRODUCTION
ABOUT ORGANIS ATION
CONCLUSION
From this poster it can be concluded that
internal and external environmental factors
influence the organisation. This poster
includes internal and external factors that
influence the organisation and the impact of
organisation on the external environment is
evaluated.
REFERENCES
Political factors: For four years, the trade war between the Chinese government and
Trump has dominated the news. Tesco's main market is the United States. It is a British
brand with no clear links to the United States or China.
Economic factors: The covid-19 epidemic has had a devastating impact on enterprises
and corporations. It was due to restrictions on physical interaction, social-distancing,
lockout, and company closure. Tesco was rescued from becoming a victim of the
epidemic because to the e-commerce platform and online buying.
Social factors: For the past few years, people have been shifting away from meat-
based diets and toward plant-based vegetarian diets. Veganism is becoming more
popular in the Western and European markets. In 2020, customer demand for vegan
goods and plant-based meals increased by 4.1 billion pounds. Tesco is aware of the
growing vegetarian movement.
INTERNAL AND EXTERNAL FACTORS
Legal factors: Tesco
failed to present an
accurate picture of its
finances and profits in
2017. The brand was
fined heavily by the
courts for giving false
information. The
corporation reached an
agreement to pay a
settlement of $12 million.
Environmental factors:
Tesco has recently
begun phase 2 of their
recycling programme,
which consists of
removing, reducing,
reusing, and recycling
plastic. It would assist
the firm in reducing and
eliminating non-
recyclable plastic. Most
significantly, it operates
in a loop and
continuously reduces
waste.
Galea, C. ed., 2017. Teaching Business
Sustainability Vol. 2: Cases, Simulations and
Experiential Approaches. Routledge.
Schermuly, C. C., 2018. Client dropout from
business coaching. Consulting Psychology
Journal: Practice and Research, 70(3),
p.250.
IMPACT OF ORGANISATION ON EXTERNAL ENVIRONMENT
The interactions between companies and their external environment are reciprocal: the former affect the environment
through their goods and services while the latter influence the environment via their goods and services. If the
organisation can work smoothly which keeping in mind all the external environment factors that are affecting and
coming with the solutions, the organisation will able to not get affected by the factors. The organisation with different
strategic plan to overcome from the factors that influences them in operation and function. Also, they can keep in
mind about the all the internal factors as use strength and opportunities to convert all the weaknesses and threats.
This will create a huge impact on the external environmental factors.