Vision, leadership style, management practice on Tesco Assignment

Context of Business

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................2
PROJECT 2......................................................................................................................................2
1. History and summary of Tesco................................................................................................2
2. Vision, leadership style, management practice and strategies used by the Tesco...................3
3. How vision, leadership style, strategies and management practices are implemented or
achieved.......................................................................................................................................5
4. Recommendation to Tesco for improvement...........................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Business context is an understanding the factors that are impacting business which
includes decision making, objective etc (Oldman and Tomkins, 2018). it is used to identify the
factors and formulate various strategies. Present report is based on Tesco company which is a
multinational groceries and merchandise retailer. Report will include the history of Tesco, its
leadership style, management practices and how it is been achieved and implemented by the
company. Lastly report will include various recommendations and improvements for leadership
styles, management practices and strategies which company should use to run its business
smoothly.
PROJECT 2
1. History and summary of Tesco
Tesco was founded by Jack Cohen in 1919, it is a 100 years old company whose
headquarter is in Hackney, London, England. It is a multinational groceries and merchandise
retail company. Company started to sell groceries from stall at well street market. Name of the
company came when Jack brought a tea from Thomas Edward Stockwell. The initials of the
supplier name (TES) and 2 letters of his surname (CO) become TESCO. The third largest retail
company in terms of revenue in the world is Tesco. Jack opened his first Tesco shop at 54
Watling street in 1931 September (Raghunath and Rose, 2017). Company was registered on
London stock exchange in 1947 named Tesco stores Ltd. The first self service shop was opened
in 1956 which was in operation till 2010 and than there was a large premises on the street. The
first supermarket of Tesco was in Maldon.
During 1950's Tesco began to grow through acquisitions until company has owned 800
shops. Company has purchase 70 Williamson's shops, 200 Harrow outlets and 201 Irwins shops.
The objective of the company was to reach the top of the world by offering products at low price.
Firm also motivates its sales force in order to increase sale and profitability of the business.
Tesco completed its hostile takeover of 40 supermarkets in May 1987. Tesco has expanded and
take over many supermarkets after fighting with Sainsbury (Fowler, Gajewska-De Mattos and
Chapman, 2018).
In 1995 company introduces a loyalty card called “clubcard” and also started internet
shopping service. Company has also diversified its business and products range including
household goods and clothing. In 2001, company has started its online grocery retail business in
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