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Context of Business Assignment - Tesco

   

Added on  2020-10-22

11 Pages2610 Words274 Views
Context of business

Table of ContentsINTRODUCTION...........................................................................................................................1LO 1 ................................................................................................................................................1Company Background ................................................................................................................1Rationale ....................................................................................................................................1LO 2 ................................................................................................................................................2Vision .........................................................................................................................................2Leadership style .........................................................................................................................2Management Practices ...............................................................................................................3Management strategies ...............................................................................................................3LO 3 ................................................................................................................................................4How this achieved and implement in Tesco ..............................................................................4LO 4 ................................................................................................................................................5Recommendation for future improvement ................................................................................5CONCLUSION ...............................................................................................................................5REFERENCES ...............................................................................................................................7

INTRODUCTIONContext of business is the method to analyse the environment in which business operates.This is the most important aspect of the business planning. This study is base on the companyTesco which is the leading British multinational groceries and general merchandise retailer. Thisstudy covers the company background and also the vision of the company and its leadershipstyle, management practices and strategies. And also it covers how Tesco uses and implementthis style to achieve the goals of the organisation. Further it includes various recommendationthat the company must use to improve the performance of the company and work in the effectiveway. LO 1 Company Background Tesco is a leading British multinational groceries and general merchandise retailer withheadquartered in Welwyn Garden City, Hertfordshire, England, united Kingdom. Tesco has shopin seven countries across Asia and Europe and is the market leader in groceries in the UK. In1919 Tesco was founded by the Jack Cohen as a group of market stalls. Also, Tesco hasexpanded its business globally since the early 1990, with operation in 11 other countries in theworld. Tesco has diversified into various areas such as clothing, books, electronics, toys, petrol,software, financial services, telecoms, internet services, furniture and many more. Tesco has460,000 employees working in the business. And also the operating profit is £1,644 million andalso the net income is £1,208 million. Tesco has various subsidiaries such as Tesco Stores, TescoBank, Tesco Mobile, Tesco Ireland, Tesco Family Dining Ltd. Tesco is listed on the LondonStock Exchange and also it is constituent of the FTSE 100 indexes (Regina, Joseph and Daniel,2016).Rationale The major reason to select Tesco is because the company has faced many ups and down.But by that also the company is considered to be on of the leading company in the retail industry.Also, it has various subsidiaries which help Tesco in many ways. Tesco has various opportunitieswhich help the company to earn more. It also helps in expansion and diversification of business.1

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