Inquiry Based Learning in Retail Industry: Analysis of Tesco Plc

Inquiry Based
Learning

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The trends in retail industry........................................................................................................3
Analysis of Tesco Plc..................................................................................................................5
Recommendations.......................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Retail industry a business sector in which organisations and business owners meet for
making buying and selling transactions for reaching to end customers. In other simpler words,
retail industry bridges the gap between the buyers and suppliers or amongst manufacturer and
consumers (Lee, 2018). The aim of organisation holding their operations in retail sector is to
keep people satisfied and make everything available to them and fulfilling their needs. The report
is developed over Tesco Plc. A supermarket store which was founded in 1919 by Jack Cohen and
which operates in worldwide locations. The company is headquartered in England, United
Kingdom and serving through most popular markets like India, South Korea, Ireland and few
other. The organisation is one of the leading supermarket store in UK and positioned as 3rd
largest in the world by gross revenue and 9th largest measures by revenues.
The assignment is an inquiry based learning therefore, secondary research is used for first
evaluating the trends of retail industry due Covid19. Moving along company's analysis is
conducted in which external environment is studied by using PESTLE analysis and
organisational competitiveness is evaluated through Porter's Five forces model. At last
recommendations are given in order to make necessary changes and make arrangements for the
firm to work according to the trends in marketplace.
MAIN BODY
The trends in retail industry
United Kingdom a country which is popular in business segments for the stability and
strong economic conditions provided to businesses and organisations operating and also to new
start-ups and small businesses. Recently, the global economy is being struck by a global
pandemic which is going to bring unpredicted recession. In recent months, a research and
advisory firm reported the impacts over sales across the retail industry on global level which is a
drop of around $2.1 trillion and out of $70 million is attributed to United Kingdom and firms will
take few years to recover the losses and stabilize in order to reach to normal sales trends. The
data collected and reported shows that the retail sector is going to face tremendous challenges for
regaining the consumers confidence and their goodwill which they earned in past years.