What Should The New Ceo Of Tesco Do For The Business Now?

1189 WordsNov 3, 20145 Pages
What should the new CEO of Tesco do for the business now? The supermarket industry is a very competitive market. In April 2014 it was reported that the UK grocery market was worth £174.5 billion (igd.com, 2014). This essay aims to identify some of the problems effecting Tesco and point out the solutions and options available to the new CEO of Tesco’s Dave Lewis, in order to stay competitive and remain a market leader. Tesco was founded in 1919 by Jack Cohen from a market stall in London’s East End. Today, Tesco headquarters is located in Cheshunt, Hertfordshire, and the company is one of the UK’s prominent retailers, it currently operates in 12 countries around the world, and employs over 530,000 people, serving tens of millions of customers every week. Dave Lewis became group chief executive of Tesco on September 1st 2014. In his previous professions he has been responsible for a number of business turnarounds, such as Home and Personal Care Central, and Unilever UK/Ireland. (Tesco plc, 2014). Dave Lewis has joined Tesco’s during a controversial and difficult time and it would be hoped that his fresh approach and experience in turning businesses around, may be beneficial for the organisation in tackling the problems which it is currently facing. One of the biggest problems that is affecting the whole industry, is that shopping habits are changing. This is having changing effects on the supermarket industry leader board. As the market leader in the grocery retailing

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