Entrepreneurship and Innovation: Tesco's Digital Future

This presentation explores the role of entrepreneurship and innovation in Tesco's success in the retail industry. It includes a PESTEL analysis, discussion of opportunities, and the impact of digital transformation on society. References to relevant books and journals are also provided.

BBE603 Entrepreneurship and
Innovation Assessment One

TABLE OF
CONTENT
Introduction
Main body
Introduction to the company with the digital future
PESTEL analysis
Opportunities
Impact of the innovation on society
CONCLUSION
REFERENCES

INTRODUCTION
 Entrepreneurship refers to the capabilities of
developing, organizing and operating the
Commercial enterprise.
 In the process of entrepreneurship, the individual
person willing to contribute in the economy and
willing to establish the business and generate the
revenue in effective as well as efficient manner.

Introduction to the company with the digital
future
 The Tesco is one of the multinational retail company of the
United Kingdom which deliver wide variety of the product and
services to the consumer and generating higher profit from the
marketplace.
 The aim of the organisation is to satisfy large numbers of
customers in effective as well as efficient manner.
 As per the modern trend the organisation is operating the digit
platforms for retailing of product and services.

PESTEL analysis
 political: the political factor plays huge role in operating the business in effective as well as
efficient manner. The political stability of the country is delivering huge support to the
organization.
 Economic: the economic factor plays huge role in buying or selling the product and services in
domestic as well as international marketplace. The economic changes incudes the costing of
working people that affect the retailing business of UK. The coronavirus affects the economics
of world badly.
 Social factor: this factor refers to the current trends of the domestic as well as international
marketplace. Due to changing taste and preferences of the consumer, the buyers are shifting
toward the variety of the product and services.

CONT…
 Technology: nowadays the people are depending on the technological facilitates. Even if
the consumer what to buy the smallest product then the customer examines the features and
feedbacks of the product and brand on the internet.
 Environmental: it is the essential element which is important to consider for operating the
business in domestic as well as international marketplace. After the Covid 19 the people are
conscious about the nature and the natural resources.
 Legal: in order to protect the society or the business enterprises the government provide
certain rules and regulation for the welfare of the society, customer and employees. It
directly affects the performance of the company as the organization supposed to follow the
legal system delivered by the higher authority of nation for the protection of the public and
maintaining peace.

Innovation in the organization
 the Tesco is continuously bringing transformation in the
organisation with the assistance of the technological tools and
techniques.
 Apart from that with the utilization of the digital features the
company enhancing the experiences of the customer with the
organization.
 For the better experience the organization is continuously
investing the capital in the technology.
 Due to that the company is able to provide the competitive
advantages in the domestic as well as international marketplace.

CONT…..
 Due to the development of this
digital card the organization is able
to deliver transparency to the
consumer.
 In the loyalty card scheme the
organization provide unique
customer id to the potential Patron
and provide point at every purchase
that the customer can used in the
forthcoming period of time

Opportunities
 With the assistance of the digital future the organisation has the
opportunity to expend its business in domestic as well as
international marketplace.
 Along with that the company can obtain good profit and enhance
the productivity of company.
 Due to that the company can provide right product and services to
the right customers in an appropriate manner.

Impact of the innovation on society
 The innovative technology is affecting the society in the positive as well as negative manner.
 The digital transformation or the innovation improving the quality and standard of individual person.
 With the digital transformation the individual person is able to acquire the product and services
according to their taste and preferences.
 With the assistance of the digital media it will be easy for the organisation to compare the
productions of the organization with the competitors.
 Basically the online platform provides more options and wide ranges of product and satisfaction to
the consumer.

CONCLUSION
 From the above report it will be concluded that the digital
future or the advancement in the technology help the
organization to grow faster and acquire success in the
domestic as well as international marketplace.
 The presented report mentioned the pestle analysis of the
retail industry due to which the Tesco organization is able to
form the strategy and obtaining success in the marketplace

REFERENCES
Books and journals
 Berger, E. S., von Briel, F., Davidsson, P. and Kuckertz, A., 2021. Digital or not–The future of
entrepreneurship and innovation: Introduction to the special issue. Journal of Business
Research. 125. pp.436-442.
 Bouncken, R. and et.al., 2020. Coworking spaces: Empowerment for entrepreneurship and
innovation in the digital and sharing economy. Journal of Business Research. 114. pp.102-110.
 Kraus, S., Ribeiro-Soriano, D. and Schüssler, M., 2018. Fuzzy-set qualitative comparative
analysis (fsQCA) in entrepreneurship and innovation research–the rise of a
method. International Entrepreneurship and Management Journal. 14(1). pp.15-33.