Entrepreneurship: A Critical Evaluation of Tesco

ENTERPRENEURSHIP

Contents
INTRODUCTION.......................................................................................................................................2
MAIN BODY..............................................................................................................................................3
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11
Books and journals:...............................................................................................................................11

INTRODUCTION
Entrepreneurship is a term which defines to establish a business concern engaging into
new or innovative product into competitive market which manage and run by an entrepreneur,
The owner of a business organization who invest capital into firm in order to begin a separate
entity into the market, in order to make maximum profit. An entrepreneur is liable for all risk
and uncertainties also, profits and reward. It defines every structure of an organization whether
it is small, medium or family business. Entrepreneurship also defines entrance of new
innovations and creative idea into existing market in order to serve the society the best potential
output which an entrepreneur ready to make through its business. This essay is going to critically
evaluate about TESCO, the world’s largest leading organization founded in 1919. First
established in UK, which has around 6800 outlets in current scenario at global level. It deals in
food items, grocery, health and cosmetics and other consumer goods also has diversify products
in other areas like books, toys etc (Lévesque, and Stephan, 2020). This essay also going to
discussed about the companies traits, its opportunities into the market and appropriate
technologies and innovation which has been used by TESCO by understanding its significance
into modern times. Also, this essay put highlights on employee’s role as leaders and how the
entrepreneur could become successful in growing business at huge level by contributing towards
society. At last, the ways of companies survival while the situation of pandemic into the market
in context with TESCO.
MAIN BODY
An entrepreneur is the biggest contributor into the society which brings their innovative
ideas, culture, beliefs, standards and creativity into the leading market by putting its efforts into
bringing up an enterprise in order to serve to the society what they need for their survival,
standard of living, entertainment and for many other aspects. An entrepreneur could bring its
innovation into any field of market business planning which proves to be in welfare of society
and under all legal factors. An entrepreneur is the one which is held liable for taking any risk and
faces challenges into competitive market. They bring something extra which results to give
competition to the other firms. Every entrepreneur desires to run its business for long term in

order to attain maximum profit and posses customer service. The main aim of entrepreneurs is to
grab existing or new market into their consideration by adapting new technologies and
techniques into full and efficient manner. In context with Tesco, the company was first founded
by jack Cohen in 1919. He being innovative about the companies name by purchasing tea from
Thomas Edward stock well which gives the name of suppliers first name TES, combining his
first two letter of surname. Jack Cohen started his first shop in watling street with the aim to
provide consumer goods at city centre location, he first organize its fund and capital from
London stock exchange (Ratten, and Jones, 2018). He first experiment his product into parent
city and by accepting customers outstanding feedback, he first opened his supermarket. From his
generous efforts towards companies success, Tesco become the first largest shop in European
market. The company has become global popular as hack Cohen accept market penetration,
product development. Also, with the way of diversification, he owned more than 800 shops into
the Europe. The main reason of companies success and expansion was jack cohen's foremost
concern regarding price, he uses its skills and develop a stimulation to high product quality at
cheap rates. Jack cohen was born in 1898, he left his studies at the age of 14 and then started to
help his father in tailoring, military services (Kummitha, R.K.R., 2019). In his early age he sense
his mentality to emerge with food stuffs and take gratuity in it. For which, he sold his stuff into a
street market by opening food stalls with effective strategy to sell products at cheap rates, which
results in enormous sales and excellent customer feedback. Then he developing his sense of
abilities and power to acquire market in his hands by putting more efforts leads his store into
global market, for that instance, he decided to travel America, the most developed city. Through
which he further carry on his research regarding being global entrepreneur and owing separate
entity. He has gave his principle 'pile it high, sell it cheap' applicable on every store, also
promotes campaign for price maintenance. This strategy sets a boom period in Tesco contrary,
which moved focus of every customer into his supermarket store. After he died, his role was
taken off by his two son in laws and regulate all his strategy and strength into companies growth.
He sets his indisputable image to society by his contribution towards communities welfare. In
recent times, Tesco has enjoying it's reputable image by evaluating his mechanism, motivation,
and confidence towards companies success.
At recent times, Tesco has owned many subsidiaries and other brands. Subsidiaries hold
with booker group, Tesco bank, F&F, Tesco mobile and etc. The entrepreneurs behind these