Pass 1
Tesco
Information from Tesco’s website suggests that Tesco PLC is the largest retailer in the UK and the fourth largest in the world. Tesco is an international company as their stores are scattered around twelve different countries around the world. The company employs 500,000+ people across the countries that work for and supply Tesco supermarkets. Out of the 500,000+ people working for the company internationally, over 310,000 work in the 3,378 UK stores. Their profit gain before tax is £2.3 billion. Internationally, there are exactly 6,784 stores, with the business making £70.9 billion group sale. Tesco compete against a wide range of supermarkets such as, Morrison’s, Sainsbury, Co-Operative, Aldi, Lidl and Waitrose, ASDA. They compete with them for customers to purchase their product for a fair price however, Tesco still need to make a profit on it.
Tesco is a retailer and is therefore part of the tertiary sector, as it provides a service and sells goods for the publics’ needs. Its main intention is to make a profit for its shareholders. Tesco believe that success depends of people. “The people who shop with us and the people who work with us.” More evidence to suggest that Tesco is a retailer is that the company makes profits on their products.
Tesco is a Public Limited Company (PLC) which is a business that is owned by its shareholders, run by directors, and more importantly, whose liability is limited. Limited liability means tat the investors can only lose the money he has invested and no more, making it very appealing to other investors.
Mr Simms Olde Sweet shop
Mr Simms Olde Sweet shop has about 100 stores spread across the UK, meaning they’re a national business. They are in the Tertiary Sector, like Tesco because they sell finished products directly to the customer. Mr Simms is also similar to Tesco because it imports their goods (sweets)