A company’s vision is the core of the company. It defines what a company wants to achieve and gives general direction on how to achieve its goals.
Tesco’s vision is to be the most highly valued business by the customers it serves, the communities in which it operates, its loyal and committed colleagues and its shareholders.
There are five elements to Tesco’s vision and each of them describes what kind of company Tesco aspires to be. Those elements are (Vision and Strategy, 2014):
1. Wanted and needed around the world
2. A growing business, full of opportunities
3. Modern, innovative and full of ideas
4. Winner locally whilst applying our skills globally
5. Inspiring, earning trust and loyalty from customers, our colleagues and communities
1.2 Goals
Tesco breaks down its vision into goals in four categories: local communities sector, environmental sector, employment sector and commercial sector. Tesco further sets smaller and measurable goals within each category.
In the first category, Tesco is offering 365 scholarships to deprived university students in Thailand (Creating Opportunities, 2013).
In the second category, Tesco aims to halve carbon emissions per square foot from its stores and distribution centres by 2020, to reduce its distribution emissions per case of goods delivered by 25% by 2020 and to have no carbon footprint by 2050 (Reducing our Impact on the Environment, 2013).
In the third category, Tesco is offering 5000 apprenticeships to staffs in the UK in 2014 and plans to create 500 jobs in the UK for long-term unemployed people by 2014 (Creating Opportunities, 2013).
In the last category, Tesco’s goals are to make major improvements of its stores in the UK by 2017 and to open 450 convenience stores annually (B...
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... rules but as a framework to support its activities. Tesco also has a Group Code of Business Conduct as a guidance on how to interact with customers, employees and suppliers (Annual Report and Financial Statement 2012, 2012).
As a retail company, Tesco has to be able to retain its customers and attract new customers. The best way to do this is to provide the best shopping experience. Standing at the core of this is the company culture - never take anyone for granted. Tesco believes in taking care of its people and its colleagues with trust and respect and in turn they will look after Tesco’s customers (Our Culture, 2009).
Tesco’s company culture is reflected in the traits of its people and colleagues. Some of these traits are: putting customers first, passionate about retail, driven, committed, determined, motivated, adaptable and devoted (What We Look For, 2009).
Tesco also has various and wide range of products and that is to meet customers’ needs of whatever customers intend to buy, nearly whatever customer intends to buy would find it underneath one ceiling (at Tesco). On the top of selling groceries Tesco sells others products such as, books, CDs, DVDs to buy, DVDs to rent, games, flowers, electronics, cosmetics, etc.
Store information provided by Tesco: Text Box: Tesco Superstore, our most frequent layout, with groceries and non-food [IMAGE] - Coffee Shop/Cafe [IMAGE] - Pharmacy [IMAGE] - Deli Counter [IMAGE] - Fish Counter [IMAGE] - Petrol Station [IMAGE] - Pay at pump Task 1 This organisation chart for Tesco Plc shows that even though the Chief Executive is in charge of Tesco Plc most decisions are still made by the Board of Directors: * [IMAGE]Tim Mason - Marketing & E-commerence Director * Davis Potts - Retail Director * Andrew Higginson - Finance Director * John Gildersleeve - Commercial and Trading Director * Terry Leahy - Chief Executive * David Reid CA - Deputy Chairman * Rowley Ager - Company Secretary * Philip Clarke - IT & logistics Director Each individual store is divided Text Box: into this organisation chart. [IMAGE] The store manager has span of control over all the deputies who have span of control of their section. When some thing needs to be done the store manager would ask his deputise who would divide the work between other workers following the chain of command. Task 2 Aims are what businesses set out to do.
Tesco is the largest retailer in UK. It is a public limited company which sells multinational grocery, health and beauty product, household items and toys etc. Since Jack Cohen founded Tesco in London’s East End at 1919 and now it has sprouted branches in 12 countries with over 7,800 stores include franchises. Tesco hire over 530,000 employees and they serve over tens of millions customers per week. Tesco
Tesco is a UK based Supermarket Company which was founded in 1919 by Jack Cohen, since then it has grown to become a multinational company which specialises in a lot more than just groceries, this has improved the overall profit of the company. The overall employees recorded at the end of 2015 was 476,000+, this shows that is a source of employment for nearly half a million people in the UK. The supermarkets are no longer just in the UK they also have shops based in Malaysia, India and Poland, this presents that they are increasing the size of business to a multinational company and is also a good source of jobs for people in poorer countries. In the world over 75million people travels
Tesco’s objective is to be the ‘champion for customers’, and they want to achieve this by being number one in customer satisfaction. They want to grow globally and by doing this they ‘create value for customers to earn their lifetime loyalty’. Tesco is
Tesco must also follow their statutory duty which ensures that their employees have adequate welfare facilities. Employees also have specific duties they got to follow by law which includes them to take reasonable care for health and safety for them and the people around them, they must also co-operate with the employer or any other person to enable the employer or other person to perform or comply with any legal requirements.
Tesco is trying to gain as high profits as they can because company investors or shareholders might thing about investing more money in to the business because of its success and development. Tesco wants to make its investors satisfied because it may affect business future.
Before a company can even began running it must first create a vision, mission statement, and its core values. The vision is created by the company’s top management’s views and plan for the company. The
Marks & Spencer is one of the UK's foremost retailers of clothing, foods, homeware and financial services, boasting a weekly customer base of 10 million in over 300 UK stores. Marks & Spencer operate in 30 countries worldwide, and has a group turnover in excess of £8 billion. It has specific values, missions and visions. It’s main vision is ‘to be the standard against which all others are measured’, it’s main mission is ‘to make aspirational quality accessible to all’, and it’s main values are quality, service, innovation and trust. (www.marksandspencer.co.uk).
Over the years, Tesco has recorded growth which has been achieved through different strategies. The company has adopted its growth strategy which has been implemented in four different parts. One has been emphasis on the growth of Core UK business in order to expand internationally. This growth has allowed that company to position itself in food and nonfood sectors based on retailing services. Over the years, the company has witnessed financial fortunes which have been reflected in its growing sales.
A strategic vision should articulate the future direction management aspires the company to head and map an appropriate path to follow that is clear for all stakeholders (employees, customers, shareholders, suppliers) to ensure everyone
In addition, there is a moderate presence of organizational capability. In the intangible section, Tesco Corporation has a strong presence in human, innovative, and reputation resources. Furthermore, Tesco has a valuable strong capabilities. The core competencies are key to a company’s sustainability. Tesco has a presence of a high level of capabilities. They are high in areas of design, technology, training, and research and development. In addition, Tesco has a superior presence in the area of manufacturing.
Today the tesco.com model operates in the UK, the Republic of Ireland and South Korea.
Strategic vision states the direction and goals of the organization, in order to motivate leaders as well as employees, is to transform the organization. It is the blueprint of the organization.
Vision, In strategic planning the vision has a significant role for it is a set target or the destination of a strategic planning journey. According to Kotelnikov (2010) Vision refers to the category of intentions that are broad, all-inclusive and forward-thinking.