Tesco: Existing Objectives and Strategies

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Identify the firm's existing objectives and strategies Background Tesco (henceforth: the company or Tesco) is ranked amongst the most popular grocery and food retailers worldwide. It operates in 14 countries and is has a strong financial and economic presence in Asia, North America and Europe. The company comprises of approximately 492, 714 employees and has its headquarters in Hertfordshire, UK (Tesco, 2012). The company experienced an increase in revenues by 7.1% in the fiscal year that ended in 2011. The total revenues of the company amounted to £60,931 million (approximately $94,193.2 million). Considering the operating profit, the company attained an increase of 10.2% in FY2011 as compared to FY2010. Thus, the total operating profit of the company amounted to £3,811 million (approximately $5,891.4 million). The net profit experienced a gain of 14.1% in FY2011 when compared with the statistics of FY2010. The net profit of the company turned out to be £2,655 million (approximately $4,104.4 million) (Tesco, 2012). Current Strategy Sustaining a business by adopting value oriented and diversified approach in retailing Tesco is a great example of a sustainable business model. Tesco has achieved highest rank among retailers from all over the world by delivering service of high value. Besides, it has been focusing upon discovering new boundaries through continuous diversification. The value oriented agenda of Tesco is tremendously supporting its business in

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