Tesco And Its Impact On The United Kingdom

Tesco is a British multinational grocery and general merchandise retailer, it has stores in 14 countries across Asia, Europe and North America and is the grocery market leader in UK, where it has a market share of around 30%.

Tesco’s is a private company which is owned by directors and shareholders who fund the business and the sole purpose is to make money. Tesco’s main purpose is to sell and make profit on products they sell such as food and online service. Tesco’s will provide excellent customer service and make sure all customers come back which

Tesco's has recently had to make many changes in their staff and have had to change the management structure to be able to pay every manager fairly and pay the wages for their general employees. These effects were taken place due to a major profit change and an unstable financial system. Another effect that has been changed is the Tesco pension scheme back in 2012. The Tesco pension scheme had changed due to financial problems however this would mean employees who have a pension scheme with Tesco will have to work longer if they were in their early 60's . This became a challenge for Tesco's as they couldn't afford to pay out on pension schemes at that precise moment.

Tesco has increased their market share by increasing their product and service line. Moreover, the main target market of Tesco is the grocery market that covers the majority business of the company.

Yahoo! Finance (2012) describes Tesco PLC as a company that "operates stores that primarily offer food products, as well as general merchandise, clothing products, and electrical products." In addition to that, Tesco PLC is also involved in the provision of insurance, financial as well as banking (retail) services (Yahoo! Finance, 2012). Taking into consideration the number of branches it has in various parts of the world, Tesco PLC can be regarded one of the largest retailers around the globe. Having been established sometimes in the year 1919 by Jack Cohen, the company has surely come a long way (Tesco, 2012). The phenomenal growth of Tesco PLC over time can largely be attributed to both the unwavering vision of the founder and the selection of a competent team of managers to run the company's operations during its growth phase. Currently, the company top management team comprises of its CEO Andrew Clarke, its Chief Financial Officer Laurie Mcllwee and Tim

Tesco provide their services to its customers, there are many type of services that Tesco provides to its customers which are fast services it 's called the 24 hours services which is aimed at customers who don 't have enough time to shop around as they work at night and sleep throughout the day so their time is limited so this a huge services that Tesco are providing to its customers. “Three million Britons are working night shifts – and endangering their health”

Tesco is the biggest private sector employers and market leader in the UK supermarket sector.

Tesco PLC is a major food retailer that operates primarily in the United Kingdom. The company operates 2,291 supermarkets, superstores and convenience stores in the United Kingdom, the rest of Europe and Asia. The company also offers financial products, such as insurance and banking services, as well as electrical appliances and telecommunication products. For the year 2007 to date, Tesco PLC achieved revenues that totaled £ 46,611 million, an increase of 10.9% against the previous year revenues that were £42,016 million. Tesco is one of the largest food retailers in the world, operating around 2,318 stores and employing over 326,000 people.

The internet helps Tesco to be efficient as they can collect orders in advance and prepare for them. They are able to continue business in-store and serve others at home. With a couple of extra staff (to be the ‘pickers’ and drivers to deliver) Tesco are able to maximise efficiency by adding extra orders from customers that aren’t in-store and this reduces the amount of people in the store which may block shelves if it gets too crowded. Time and money is

The purpose of Tesco is to sell every day necessities to the whole population such as food, clothes, electric goods such as well as

Tesco is one of the most famous stores in the UK with it being our biggest sales retailer earning billions in profits. The statistics of the supermarket are extremely impressive with over 330,000 staff employed, being the third largest supermarket, over 16 million Clubcard users in the UK and it being said that one pound in every seven has been spent at Tesco. All of this used to just be a small stall in East London when it was created by Jack Cohen in 1919 simply selling groceries making a profit of just £1 on the first day. Five years later, Cohen purchased a shipment of tea and Tesco became a brand with its first store opening another five years later, in 1929, in North London. Tesco is now not only just a grocery store, it also sells petrol (becoming the largest independent petrol retailer in the UK), insurance, has its own bank, credit cards, loans along with products such as its own clothing line F&F, games consoles, televisions and sports equipment. However, in 2014 Tesco had a shocking downfall when it had been revealed that they had exaggerated their half-year profit forecast by a massive £250 million.

Task P6: Describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders

Tesco also have social factors that affect them, as the business have charity centre in helping the less privilege people and the more these people gets poor, the more they will have to stretch to help out which also spending money.

In order to maintain a business effectively it needs to be successful, Tesco’s have been one of the most successful companies’ worldwide selling products and opening stores in 12 different countries. Research shows that Tesco’s profits are getting higher and higher as they are developing into their new E-Business. There are many ways to now access Tesco’s which is making it easier for customers to buy from them. The Daily Mail states that Tesco’s are earning a £105 profit each second.

Tesco is one of Britain’s leading food retailers and has 586 stores. From 1992, Tesco has grown greatly and has increased its market share from 10.4% to 15.2%. This increase in customers has also given Tesco a large amount of profit.