Entrepreneurship and Tesco: Personality Traits, Innovative Products, Team Building, Leadership, and Contribution to Economy and Society

entrepreneurship
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
(A)....................................................................................................................................................3
Evaluation of the personality traits of the entrepreneurs.............................................................3
Entrepreneur analyze the opportunity or entrepreneur create the opportunity............................4
Innovative products and services introduced in the market and evaluate innovation is
important for an organisation.......................................................................................................5
(B)....................................................................................................................................................5
Process of entrepreneur build the entrepreneurial team..............................................................5
Identification of entrepreneur’s role as leader and applications it takes to become a successful
leader............................................................................................................................................6
Tesco and its business growth.....................................................................................................7
(C)....................................................................................................................................................8
Tesco and its contribution to the economy and society:..............................................................8
The survival issues faced by the organization due to the global pandemic.................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Entrepreneurship, in a narrow sense, means opening up a business and expanding it to make
a profit. But when considered in its broadest sense, entrepreneurship stands for the act of
transforming the world around us by creating innovative products to solve real world problems
(Leonidou and et.al., 2020). Tesco Plc is a multinational company that operates in the field of
retail and retail banking. Within the UK, it is the market leader of groceries. The following essay
covers the personality traits of the entrepreneurs who are behind the success of Tesco Plc, the
innovative products and services introduced by these entrepreneurs, how they went about
building an efficient team and providing it a strong leadership, to make Tesco Plc a thriving
business. The essay will then evaluate the contribution of Tesco Plc to the economy of the UK
and the role it plays in the society at large. At lasts, it details the survival issues faced by them
due to the COVID-19 pandemic.
MAIN BODY
(A)
Evaluation of the personality traits of the entrepreneurs
 Discipline: Entrepreneur always considers to maintaining discipline because they have
responsibility to manage various factors. Tesco industry entrepreneur decide that they
provide grocery services in market and they decide to develop stores where inivdiual can
easily by their product on the basis of their requirements. So they have major
responsibility to maintain discipline in work for performance improvement (Youssef and
et.al., 2021).
 Self-awareness: Inivdiual entrepreneur when they decide to set new business they
always consider in being self aware because many people believes in guide on wrong
direction. Furthermore, Tesco company entrepreneur has capability of self awareness
because they identified factors which things useful for long term business growth.
 Creativity: It very obvious that when inivdiual decide to set their business they always
found creative and innovative practices for differentiation expansion within business
activity. Propel get only attract with new business and product concept. Tesco
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entrepreneur consider to develop stores and they provide grocery products which is useful
and creative because when they start this business other not business has this type of
business.
 Process oriented: Continues new activities involvement within in business is all above
refers to effective approaches which has power to resolve issues and maintain efficiency
within organization practices (Agarwal and et.al., 2020). Idea about this term that
entrepreneur has capability to being process oriented because survives in the competitive
market its important to develop variation in overall business activities.
 Risk taker: Entrepreneur has capability to take risk that’s the only reason they start new
start-up and new business. Tesco industry has potential to resolve issue and engage
essential aspects for solution expansion of any problem. Tesco organization entrepreneur,
manager and their members face challenges from other retail industry which also decide
to set their business like this.
Entrepreneur analyze the opportunity or entrepreneur create the opportunity
Entrepreneur when start new business activities they always decide that they have to
involve various practices an select best option which has power to increase revenue or new
growth opportunities. Tesco industry entrepreneur and business organizer mainly consider
involving new practices which has power to develop new opportunities with great manner.
Emphasis: It essential that entrepreneur mainly focuses on activities which has power to control
rather then evaluation of external and other factors. And entrepreneur has power to find best
activity which has potential to provide revenue as well as increase business activities. Tesco
entrepreneur decide to survive in the competitive industry its essential to involve new practices
for new opportunities so they involve banking services, patrol, fuel, telecom, toys, furniture and
many more.
Shift: This term is all above refers to include activities which have power to resolve issue and
sifts on old activities which not provide benefits according to analysis. Tesco industry
entrepreneur not decide to shift their business activities they only engage new plans and products
for more efficiency expansion within business practices. And entrepreneur when decide to set
their business for long term they mainly applies this term.
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