TESCO: Entrepreneurship, Innovation, and Market Survival

This essay provides a critical evaluation of TESCO, a leading global organization founded in 1919. It examines the company's entrepreneurial traits, market opportunities, and the significance of technology and innovation. The essay highlights the roles of employees as leaders and discusses how entrepreneurs can achieve success and contribute to society. Furthermore, it explores the strategies TESCO has employed for survival, particularly in the context of market challenges such as pandemics. The analysis covers the company's founding by Jack Cohen, its expansion through market penetration and product development, and its adaptation of innovative technologies like self-service systems and online purchasing to maintain customer loyalty. The essay also delves into the importance of leadership, team building, and strategic decision-making in fostering a successful and adaptable business model, emphasizing the need for entrepreneurs to be both innovative and effective leaders.

ENTERPRENEURSHIP

Contents
INTRODUCTION.......................................................................................................................................2
MAIN BODY..............................................................................................................................................3
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11
Books and journals:...............................................................................................................................11

INTRODUCTION
Entrepreneurship is a term which defines to establish a business concern engaging into
new or innovative product into competitive market which manage and run by an entrepreneur,
The owner of a business organization who invest capital into firm in order to begin a separate
entity into the market, in order to make maximum profit. An entrepreneur is liable for all risk
and uncertainties also, profits and reward. It defines every structure of an organization whether
it is small, medium or family business. Entrepreneurship also defines entrance of new
innovations and creative idea into existing market in order to serve the society the best potential
output which an entrepreneur ready to make through its business. This essay is going to critically
evaluate about TESCO, the world’s largest leading organization founded in 1919. First
established in UK, which has around 6800 outlets in current scenario at global level. It deals in
food items, grocery, health and cosmetics and other consumer goods also has diversify products
in other areas like books, toys etc (Lévesque, and Stephan, 2020). This essay also going to
discussed about the companies traits, its opportunities into the market and appropriate
technologies and innovation which has been used by TESCO by understanding its significance
into modern times. Also, this essay put highlights on employee’s role as leaders and how the
entrepreneur could become successful in growing business at huge level by contributing towards
society. At last, the ways of companies survival while the situation of pandemic into the market
in context with TESCO.
MAIN BODY
An entrepreneur is the biggest contributor into the society which brings their innovative
ideas, culture, beliefs, standards and creativity into the leading market by putting its efforts into
bringing up an enterprise in order to serve to the society what they need for their survival,
standard of living, entertainment and for many other aspects. An entrepreneur could bring its
innovation into any field of market business planning which proves to be in welfare of society
and under all legal factors. An entrepreneur is the one which is held liable for taking any risk and
faces challenges into competitive market. They bring something extra which results to give
competition to the other firms. Every entrepreneur desires to run its business for long term in

order to attain maximum profit and posses customer service. The main aim of entrepreneurs is to
grab existing or new market into their consideration by adapting new technologies and
techniques into full and efficient manner. In context with Tesco, the company was first founded
by jack Cohen in 1919. He being innovative about the companies name by purchasing tea from
Thomas Edward stock well which gives the name of suppliers first name TES, combining his
first two letter of surname. Jack Cohen started his first shop in watling street with the aim to
provide consumer goods at city centre location, he first organize its fund and capital from
London stock exchange (Ratten, and Jones, 2018). He first experiment his product into parent
city and by accepting customers outstanding feedback, he first opened his supermarket. From his
generous efforts towards companies success, Tesco become the first largest shop in European
market. The company has become global popular as hack Cohen accept market penetration,
product development. Also, with the way of diversification, he owned more than 800 shops into
the Europe. The main reason of companies success and expansion was jack cohen's foremost
concern regarding price, he uses its skills and develop a stimulation to high product quality at
cheap rates. Jack cohen was born in 1898, he left his studies at the age of 14 and then started to
help his father in tailoring, military services (Kummitha, R.K.R., 2019). In his early age he sense
his mentality to emerge with food stuffs and take gratuity in it. For which, he sold his stuff into a
street market by opening food stalls with effective strategy to sell products at cheap rates, which
results in enormous sales and excellent customer feedback. Then he developing his sense of
abilities and power to acquire market in his hands by putting more efforts leads his store into
global market, for that instance, he decided to travel America, the most developed city. Through
which he further carry on his research regarding being global entrepreneur and owing separate
entity. He has gave his principle 'pile it high, sell it cheap' applicable on every store, also
promotes campaign for price maintenance. This strategy sets a boom period in Tesco contrary,
which moved focus of every customer into his supermarket store. After he died, his role was
taken off by his two son in laws and regulate all his strategy and strength into companies growth.
He sets his indisputable image to society by his contribution towards communities welfare. In
recent times, Tesco has enjoying it's reputable image by evaluating his mechanism, motivation,
and confidence towards companies success.
At recent times, Tesco has owned many subsidiaries and other brands. Subsidiaries hold
with booker group, Tesco bank, F&F, Tesco mobile and etc. The entrepreneurs behind these

holders are also play a vital role in Tesco’s growth and expansion by provide support and right to
regulate their franchise. After passing of jack Cohen, the company was in hand of Terry Leahy as
a CEO. He took to the company at global level by describing companies values, belief, norms
and policies into societies concern by following the aim of low pricing policy. Also, managing
all the factors that affects a business entity into a systematic manner whether they are employees
or customers. Through this huge expansion and product diversification, the companies key are in
hand of their CEO, John Allan, Ken Murphy (CEO-designate). They are making their huge
contribution to regulate companies name from the decades. They accept and plan new strategies
of payment, billing, selling and marketing which excite customers in a new and different ways.
An individual who can attain market retention by acknowledge its internal or external strength
and weakness and able to change into beneficial manner can lead to become a successful
entrepreneur. Despite of the fact that become from newly held business or existing company
holding. The main element defines here is to have potential and abilities to survive in a
competitive market from several decades. Tesco companies set a best example to understand an
entrepreneurship for the whole world. An entrepreneur not only be good in convert material into
profit but also require the abilities to be a good leader and a mentor for their employees and
colleagues. An entrepreneur must have the traits of converting problems into solution, outdated
technology into innovative technology, and a sense of belongingness to calm and polite behavior
with their employees (Obschonka, and Stuetzer, 2017). These traits helps an entrepreneur to
motivate the workforce in positive manner. They require good skills and abilities to perform
generous at a time of crises and also, habit of searching for the best growth for their organization.
An entrepreneur is the one who not stand alone but took all together to achieve what best suits in
society and consumer accountability. Apart from this, an entrepreneur must be flexible in
decision making and have a versatile personality to look out for business risks and uncertainties.
These entrepreneurs take initiative efforts to make innovation in society. Innovation is necessary
to overcome the problems of change in leading market and make the first one to grab available
opportunities by providing innovative products and services for customers. In context with
Tesco, CEO make innovation in product and services by being the first one to develop self-
service slabs and cameras to maintain excessive gathering, also card payment services, barcode
and online purchasing services (Belitski, Caiazza, and Lehmann, 2019).

An entrepreneur must have all the abilities to not only being quantitative but also
qualitative. They should keep inform about their companies goals and objectives to employees
and make the team according to that. In order to formulate developing different departments the
first step is to maintain staff and associate required employees to carry on business activity and
handle other operations. For this, Professional and experienced individuals must be recruit who
can manage the whole team. Hiring right person leads to right result. An entrepreneur must
ensure the specific number of associates into the company which eliminate disputes amongst
other members and effective communication flow would be encouraged (Agrawal, and
Sahasranamam, 2016). This creates trust and sense of attachment regarding each other strength so
that, they could work on together. The another step in building effective team is to collaborate
with contractors and agency in order to enjoy digital exposure by building staffs for designing,
branding, researchers who make portfolios and create innovative idea for promotion. Firstly, an
entrepreneur go with hit and trial method that shows the impact of efforts in positive or negative
way. Positive results ensures consistency of the team and its members otherwise proper trainings
need to be provided. An entrepreneur is also a leader for their team which guides them towards
the path of organizational success. As a leader, they must have excellent communication skills by
which they could encourage employees and staff in a well manner which avoid issues of
misunderstanding and confusion. Along with this, a leaders role describe their personality to
manage every business function like planning, organizing, controlling and monitoring into
effective manner. A leader is the one which shows the right path to move on ( Gehman, and
Soublière, 2017). That requires their quality to be supportive and involved with its employees.
They should be ready at any time to provide prevention from any hurdle. It takes a lot of efforts
and courage to be a good leader by keep patience and polite behavior. At workplace. They must
have the courage to build a team which follows one mission and obey all the rules provided. A
leader would get successful in their leadership by engaging with their staff and work selflessly
by paying attention towards their efforts and appreciation would prevailed. A leader not only
guide and assign the task but also motivates and appreciate the team for making it possible in
terms of rewards or benefits. In context with Tesco, the company has its collaborations and
subsidiaries with several outlets by providing their part of benefits and profit at desirable rates.
The owner of the company has set various leadership style to lead and guide their employees by
setting democratic style of leadership which allows every employees opinion in decision making.

This style sets a clear path for each department by opting different leaders for every department.
These leaders are made chosen by analyzing their talent and skilled in order to get fully trained
and versatile personality. The managers in each outlet ensures daily activity and issues within
organization hence, ready to fix every problem. As this leadership style also regulate a
democratic flow of communication. Which sets everyone free to take decisions and authority
under the surveillance of leaders and mangers. In organization, its mission and vision must be
clear to the owner and have targeted plans to perform for its benefits with the view to survive in
market for long term. The main vision of the chosen company is to grow their retail industry
worldwide. The company opt many style and strategy to lead and motivate their employees also,
providing training programs for better development of employees. They use autocratic style to
check performance of employees that they performing tasks in an appropriate manner (Landström,
and Harirchi, 2018). This leadership style make judgments and ideas according to leaders
perspective, by combining all these factors which affects on organizations growth are put
together to make best products in quality and quantity with cost reduction and affordable
customer preference. It is the biggest secret of Tesco's successful operation which helps in
getting customers lifetime loyalty and convenience towards companies favor. The abilities which
leaders drive in them being helpful in building strategy like Tesco did in its recent years, by
providing reward system which allows customers to collect point on specific amount of
purchasing to secure their future saving and get exciting discounts. These efforts of an
entrepreneur make the enterprise grow and successful.
The contribution of an organization towards economy and society is very important
because it creates jobs and a healthy environment. As an organization starts its production or
wants to start an work. It should be healthier towards society and economy. Social and economic
factors are very important for an organization because of them it generates the traffic of the
consumers for the organization. An organization is not reviewing the social and economical
factors it will create a negative image of the organization in the market. In todaystime people
prefer social and economical factors. For an example, an organization wants to open its own
plant in a rural area, firstly they should do the marketing research of that area and social research
also because if they have to make sure that there product is eco friendly , because as it not a eco
friendly product and they launch it in the market then people will take it as a bad product and it
will create a negative image of the organization. It should friendly to the nature. After the

economical factor it should also be good towards the social factor (Jovanovic, 2019). They
should not do any kind of activity that create a hate speech or hurt any social groups feeling
because it is also and very important factor for any organization. These two factors are very
important because it creates job opportunity to the people and the economical factor creates a
good environment of the organization and for the nature also. Just like chemical plants are
hurting the environment by drooping the harmful chemical waste into the nature , that kind of
activity spreading a negative images of these kind of plants that’s why for any organization
social and economical factors are very important to consider. If any organization didn’t take
these two factors seriously then it will give the competitors a good chance to move forwards and
makes benefits for them and in general its our general responsibility to take care of the
environment. In these days the global warming is continuously spreading, in this situation its
everybody responsibility to take a step for it and do something for it. There are so many
organizations are taking big steps towards the environment to stop the global warmning. That’s
why along with the social economic factor is very important (Ahsan, 2020).
Some organizations are not recruiting a particular type of people in there organization according
to there religion, that is making so hate in those people for that organization and they will not
pursue any type of services of that organization.
Tesco is a multinational groceries and general merchandise organization which is the third
largest retailer in the world measured by the gross revenue (Galvão, Ferreira, and Marques, 2018).
It delivers its services in so many countries. Tesco expended its services in total of 11
contries .tesco provides its services by the retailing of the clothes, books, internet services, toys,
furniture, petroleum, softwares, telecom services, financial services and many more. Tesco is
also mark its name on the London stock exchange and build a market capitalization of 18.1
billon in 2015.
Tesco always aims to provides something to the community and the environment. In every
country where tesco has launched its services , there are different different type of communities
with a different type of mind set. Tesco is always tries to creates a healthier environment to every
community and keep there needs in priority .they always tries to fulfill the expectations of there
customers (Martinez Dy, ,Martin, and Marlow, 2018). They tries to contribute for the local
community by providing local jobs for them and supporting the local community activity like

contribution to there festivals etc. they always tries to support the local community by
responding to any type of changes in the community and being reflecting to them by using there
position to do something good for the local community.
Tesco always take care that they didn’t play any negative impact on the local community.
Focusing on the quality of there services which they are providing to there customers (Bridge,
2017). Tesco always respect and follow the guidelines of the government of any particular
country in which they are working. Before buying any land in a country or opening new store
they promise to be a good neighbours to the local community and make priority to there need
that what they want.
Time to time In some countries tesco planned activity’s like tesco superstore, in that acivity they
organize a exhibitions and in that exhibitions they provide products in affordable range related to
the local community ( Popkova, and Sergi, 2020). There major focus is to listening to the
communities that what they actually wants, they also provides after services to there customers
to improve there services accordingly to the needs of the society and also do charity events in
time to time.
In UK tesco started a scheme named (LEP) local empowerment partnership with UK government
to working as a job center to provide job opportunities to the locals. With the community tesco
also take care of the environmental actions. Tesco also do the charity for society as giving 1% of
pre-tax profit to the charity. Tesco always respond to the local emergencies and disaster and
made donations to the local community’s accordingly (.Edoho, 2016). In 2007 Tesco donate a
amount of £20.000 for victims of floods in Asia. Along with the social factors Tesco also take
care of the economical factors .in china Tesco provides scholarships for local students for their
education like schooling or textbooks. In 2007 Tesco helped 7000 disadvantaged students.
Tesco set a partnership with local schools and colleges in Hungary and raise a donation of £
50,000 every year. They started a event called tesco for schools in Poland, in that programme
around 15,000 have taken part in it. Tesco also provides equipments to the schools worth of 6.5
million. In 2007 they run a programme called computers for schools which has become the
largest running school programme in UK. In that programme they donated computers to schools
worth of £118 million to 30,000 schools in UK (Parker, 2018). They also started a scheme that in

there stores when a customer’s buys minimum £10 worth of product or shopping they will get a
voucher of £5 which they can donate to their nearby local schools. With that vouchers schools
can exchange them to free equipment from there catalog. Computers of schools has run for more
than 16 years that’s why it became the longest running programme in the UK. Tesco run the
same programme in Ireland, in which they donated 3000 computers and 50000 additional items.
That items includes digital cameras, art n craft materials, literacy and numerical software etc.
they offer a programme for children called largest environment programme, in that programme
over 41,000 children has taken part in it. In addition to that Tesco also runs so many programmes
for the community like FA Tesco skill programme, Tesco great school run, cancer research UK’s
race for life etc. Tesco creates new ways for fundraising for the charity (Ali, Kelley, and Levie,
2020). Tesco also continuing the regeneration partnership in the UK for the people who are
unemployed and disadvantages. In this situation of pandemic Tesco running so many
programmes to help the community like food donation programme, temple street charity
partnership etc. Tesco always prefer to help the community in need, there slogan in Ireland is
“because now more than ever , every little helps” (Molina, 2020).
CONCLUSION
From the above essay, there are various significant points have came in front about
entrepreneurship and entrepreneurs by evaluating their characteristics which shows the traits they
follow to put their innovative ideas into practical business situation. This essay includes, the way
owner of TESCO has successfully grown their business through their abilities and talent to
optimize market segment through which become the biggest retailer in Britain market. This
success came from putting their efforts into planning and organizing available resources into
effective manner. Also, control over employees activity and performance is also must. It is well
concluded that an entrepreneur must have management incite functions in order to promote
systematic operations. An entrepreneur would become successful by developing all the above
discussed vital traits such as must develop communication skills, be clear about their vision,
provide support to their followers and indulge with them in order to make decision. The mangers
of TESCO, has these abilities and power to mobilize their resources by guide and motivate them
to the path of success. as they opt effective leadership style democratic and autocratic that

regulates effective and early flow of communication into the organization with power of
delegating authority. These leadership qualities help an organization to make their possible
efforts with their employees for better growth. As it is concluded, in recent years Tesco has
achieve enormous customer satisfaction by acknowledging market trends and customer wants.
Lastly, during the pandemic Tesco has opt innovative technologies and provide delivery services
at customers doorstep for eliminating contact delivery. These services provided by concerning all
health factors and proper sanitizing delivery into plastic packets which avoid contact delivery
also, regular cleaning and sanitizing in each outlet on daily basis.

REFERENCES
Books and journals:
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Business Ethics. 161(1. pp.19-33.
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Business Research. 113. pp.117-128.
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entrepreneurship research. Small Business Economics, pp.1-11.
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Emerging Economies.
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regional development. Journal of Small Business and Enterprise Development.
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Lévesque, M. and Stephan, U., 2020. It’s time we talk about time in entrepreneurship.
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critical realist analysis. Organization. 25(5). pp.585-608.
Molina, J.A., 2020. Family and entrepreneurship: New empirical and theoretical results.
Obschonka, M. and Stuetzer, M., 2017. Integrating psychological approaches to entrepreneurship: the
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