The Aims and Objectives of Tesco

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The Aims and Objectives of Tesco

What is a Mission Statement?

A mission statement sets out the general purpose of a business. It

helps employees work towards a common goal.

Tesco’s Mission Statement

Tesco’s mission statement is to Retain Loyal People. To make sure

Tesco achieve their mission statement, they need to know who their

loyal customers are. That is why Tesco has got a club card service,

through which they can award people by giving them special vouchers

and extra points.

What is an Aim?

A business aim is an organisation’s long-term goal.

What is an Objective?

Objectives are goals that a firm sets itself for the next three or

five years. They have a timescale, they must be measurable and they

must contribute to the business achieving its aims.

How Objectives Blend in with each other

All of Tesco’s objectives blend in with each other. None of the

objectives will work without each other. For example; the business

will not have any customers if the business is not operating well.

Share holders will not invest money in the business, if the business

hasn’t got any customers. The company will not be able to afford to

have any employees working for them if they haven’t got money being

invested in the business.

For instance, if the Tesco PLC wants to expand their business, they

will have to make sure that they get enough profit to be able to open

that business.

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How Objectives change over a period of time

Objectives change over a period of time due to various reasons. Some

of theses reasons are listed below:

· Competition- Tesco might like to change their objectives, if another

competition moves in the same area; they will do this so that they

still have the customers coming to them. For instance, if Tesco is

making a profit of £5 per book, their books might not sell, because

the competition is selling their books cheaper. So in order for the

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