Comprehensive Analysis of Tesco: Business Studies Report

This report provides a comprehensive analysis of Tesco's business operations, focusing on key areas such as the marketing mix (product, price, promotion, and people), collaborative working practices, and the impact of internal and external factors. The report delves into Tesco's product strategies, pricing tactics, and promotional activities, highlighting how these elements contribute to its overall marketing approach. It also examines the importance of employee collaboration and its impact on business outcomes, particularly in the context of the COVID-19 pandemic. Furthermore, the report explores the internal and external factors that influence Tesco's performance, including competition, government policies, and relationships with customers and suppliers. Finally, it assesses Tesco's financial management and reporting practices, covering financial planning, capital management, and cash flow management. The report draws on academic sources to support its analysis and provides insights into Tesco's strategic decisions and their implications.

INTRODUCTION TO BUSINESS
STUDIES

Contents
INTRODUCTION...........................................................................................................................3
Marketing mix.................................................................................................................................3
LO 2 Understanding of collaborative working practices.............................................................4
LO 3 Understanding of the main factors, both internal and external, which impact businesses.5
LO 4 Demonstrate knowledge of the role of financial management and reporting within the
organization.................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
This reports highlights different areas which helps to understand the needs of different
areas such as collaborative working, management of finance, marketing mix and the analysis of
internal as well as external factors of Tesco.
Marketing mix
Marketing mix is considered as the 4 Ps Such as Product, Price, People and promotion. It
also describes the marketing strategy of Tesco. There are various marketing strategy such as the
innovation in product or services, marketing investment, consumer experience and many more. It
aids the firms to accomplish business objectives as well as goals and also marketing mix which is
4Ps is broadly utilized framework in order to define the various strategies.
Product- It is considered as the heart of the marketing mix as all the activities regarding
marketing begins with the product. As it is not considered as the physical entity alone as it can
captures the whole intangible and tangible aspects such as personality, services, organization as
well as ideas (Al-Fadly, 2020). The product mix is considered as the whole range regarding
product Tesco provided huge range of products that are offering to the consumers at several
stores. The products such as Pet care products, Food, Bakery products, Frozen Food, Technology
and gaming products ,Car products and many more. Tesco has various types of product variety
and stores that are relied on several type of store. Firm also sells its products online. Tesco has
also recently reviewed all 33 food categories as well as decreased the product lines through 18
%.
Pricing strategy- It Provides the lowest priced goods and at the same time maintaining the
quality. Tesco is the one that regularly works with suppliers in order to improves as well as
Prices as after receives feedback from its consumers. Also firm has kind of unique programmers
known as Brand Guarantee where consumers get the lower price of any branded goods at any
other place will match if the consumer get the lower prices of any type of the branded product at
other place Firm can matches the price if the people can buy 10 or more product. In addition to
this Tesco has also launched food prices within very less rates. Tesco has also restricted its
product team so that they get the best offers for their buyers.

Tesco Promotions- Tesco has a strong Brand image that depends on low prices. Tesco also uses
television ads, hoardings as well as charitable events that is considered as Promotional channels.
It also provides large promotional discounts as well as offers for example buy one get one.
People- Tesco is consider as one of the leading retail brands that employing several people.
Individuals are the workers of the firm who are undergo the selection process that can be held
through firm. Within the 11 markets there are around 480,000 workers all over the world. In
Tesco Diversity is highly boosted as people are valued so that they can perform better for the
firm (Eti. and Bari, 2020). The Tesco’s workers are boosted so that they can help each other as
well as supportive. Also there are several promotional opportunities that are provides to the
workers of the Tesco who are recognized to have greater potential.
LO 2 Understanding of collaborative working practices
Collaboration in Tesco is done when many of the people are able to work together for a
goal that is common by working on it together and share their ideas. It has been helpful for the
employees of Tesco to work together from their homes on video conferencing at the time of
Covid-19. This has helped them to conduct sessions for brainstorming and share their ideas so
that they can overcome this issue. If all the employees who are concerned to a specific project
come together then they will be able to help each other through which company will be able to
attain the benefit of achieving more goals in the market. Also the work done in this aspect is
considered to be equal. Collaboration helps them to work clearly with the vision of the company.
This helps them to reduce errors in work as they have help from each other. They have more
knowledge combined than a individual possess which helps them to offer new initiatives and
ideas through which they are able to become more competent. Also the benefit of work from
home has helped company to save their costs for developing their infrastructure etc. as many less
people work from office. Having other people on the tasks means that they have more experience
of the market and more skills and if both of them are used in a better way then they will be able
to offer their prospective customers the best deal they can. Even if they are not able to offer them
something better they will still be able to learn something new which can be used in other
projects. This will even help the members of the team to attain new things from each other. This
helps them to gain some new perspectives and claim the opportunities for growth and

development. This will help the company to mark new objectives and reach them easily (Rana
and Morgan, 2019).
LO 3 Understanding of the main factors, both internal and external, which impact businesses
Internal Factors-
Employee and Managers-
Employees and managers are considered to be the strength of internal aspects of the
company. If they perform their duties well enough then they will be the strength of the company.
Managers at Tesco have to look after their employees and handle their tasks and performance so
that they can assess the talent and capabilities of their employees. Also they maintain a positive
environment which reduces the level of conflicts between them so that operations of the
company do not get disrupted.
Money and Resources-
It is necessary for Tesco to have the liquidity in order to carry out the operations of the business.
This is because without cash no business can survive. More cash will increase the level of
flexibility and with that Tesco can expand their business even if the economy is not well.
External Factors-
Competition from other businesses-
It is important for Tesco to keep their portfolio unique from their competitors so that they
can remain ahead of their competition. The competition in the market will never end either
company will have to compete with new companies or compete with old. They have to be careful
because if the competition is not taken seriously then they will have to cope up with failure
which can affect the growth of the business.
Politics and Government Policy-
This is one of those factors which can affect the business deeply as any change in the
policy. For instance the decision of Brexit has affected the company in a very negative manner as

the rate of taxes is affecting their pricing strategy and they have to bear extra cost for exporting
their products as the route has been changed (Kimotho, 2016).
Customers and Suppliers-
It is important for the company to maintain relationship with both of them and satisfy
their needs so that they are able to receive goods at less rates from suppliers and make substantial
profits to their customers.
LO 4 Demonstrate knowledge of the role of financial management and reporting within the
organization
Financial Planning-
These managers of Tesco have to look after the areas so that they can allocate the funds
in right manner and find ways to incur them. They set their priorities and allot funds as per that
as they have to work as per the economy and set their budgets for every department as per that so
that they do not run out of money.
Capital Management-
It is the duty of the manager to assess their capital in a timely manner so that they can
form their structure and take out that which source will be available to them for funds and their
needs.
Cash Flow Management-
The managers of the company have to keep a check on it as it is one of the most
important things they need to take care of. This is because if the flow of cash is not strong then
company won’t be able to maintain their operations and there expenses will be paid in credits
which will affect their reputation (Ghauri, Grønhaug and Strange, 2020).
CONCLUSION
From the above studies it has been assessed that the management of company needs to look after
their internal as well as external factors and maintain the aspects of collaborative environment.
This will help them to prepare for the needs of the market and achieve their objectives.

REFERENCES
Books and Journal
Ghauri, P., Grønhaug, K. and Strange, R., 2020. Research methods in business studies.
Cambridge University Press.
Kimotho, R.M., 2016. Pedagogical challenges facing the teaching of business studies and impact
on students’ achievement in secondary schools in nyandarua county-Kenya. Unpublished
Master‟ s Thesis), Kenyatta University.
Rana, M.B. and Morgan, G., 2019. Twenty-five years of business systems research and lessons
for international business studies. International Business Review, 28(3), pp.513-532.
Al-Fadly, A., 2020. Price element of marketing mix: Its effect on customer experience in
construction industries. Management Science Letters, 10(15), pp.3643-3654.
Eti, I.A. and Bari, M.M., 2020. Theoretical Inspection and Rethink of Marketing
Mix. International Journal of Science and Business, 4(10), pp.77-87.