...www.thetimes100.co.uk How training and development supports business growth Introduction Tesco is the largest British retailer and is also the world’s third largest grocery retailer with outlets across Europe, USA and Asia. The business began in 1919 with one man, Jack Cohen, selling groceries from a stall in the East End of London. Jack bought surplus stocks of tea from a company called T.E. Stockwell. T.E. Stockwell and Cohen combined their names to brand the tea Cohen originally sold – TESCO tea. In 1929, the first Tesco store opened in north London. Tesco has expanded since then by a combination of acquisition of new stores, retail services and by adapting to the needs of consumers. Tesco has net profits (before tax) of around £3 billion. Tesco’s primary aim is ‘to serve the customer’. Keeping existing customers happy is important, as they are more likely to return. This is more cost effective for the business than acquiring new ones. In the UK Tesco now has over 2,200 stores ranging from the large Extra hypermarket style stores to small Tesco Express high street outlets. Tesco’s original product range of grocery and general merchandise has diversified to include banking, insurance services, electrical goods as well as telephone equipment and airtime. This move towards ‘one stop shopping’ means customers can meet all their purchasing needs from one place. Tesco has also expanded its customer base through its Tesco.com website which attracts one million regular users....
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...32184_TESCO:TESCO STUDY V6 23/6/09 16:11 Page 1 How training and development supports business growth Introduction Tesco is the largest British retailer and is also the world’s third largest grocery retailer with outlets across Europe, USA and Asia. The business began in 1919 with one man, Jack Cohen, selling groceries from a stall in the East End of London. Jack bought surplus stocks of tea from a company called T.E. Stockwell. T.E. Stockwell and Cohen combined their names to brand the tea Cohen originally sold – TESCO tea. In 1929, the first Tesco store opened in north London. Tesco has expanded since then by a combination of acquisition of new stores, retail services and by adapting to the needs of consumers. Tesco has net profits (before tax) of around £3 billion. Tesco’s primary aim is ‘to serve the customer’. Keeping existing customers happy is important, as they are more likely to return. This is more cost effective for the business than acquiring new ones. In the UK Tesco now has over 2,200 stores ranging from the large Extra hypermarket style stores to small Tesco Express high street outlets. Tesco’s original product range of grocery and general merchandise has diversified to include banking, insurance services, electrical goods as well as telephone equipment and airtime. This move towards ‘one stop shopping’ means customers can meet all their purchasing needs from one place. Tesco has also expanded its customer base through its Tesco.com website which...
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...many essential data could be hidden and may not be able be presented in financial statements. As a result, by applying this method it can analyse strategic planning of Tesco from previous years. Porter (1985) said that business activities could be divided into two main parts，supportive activities and primary activities. The former includes firm infrastructure, human resource management, technology development and procurement. The later includes inbound logistics, operations, marketing, sales and service. Primary activities: Operation: The operation within Tesco before 8 April 2013 was in fact only had one way that products sent to local stores and customers buy it in store, however after that day, Tesco has launched its online grocery shopping service for all customers in Bangkok (Tesco2013). “With our wide product range and great service proposition we are confident that Tesco Lotus online shopping will receive an overwhelming response from customers”, said Tesco Lotus CEO John Christie. By increasing another shopping approach, increase the supply to meet demand; what's more, Tesco can achieve economic-scale in the future, which can lower the costs. Keeping the price unchanged, lower costs can get higher profit margin, which is a competitive advantage. In order to obtain more future competitive advantage, Tesco has an attempt to grow by exploring outside Britain. For...
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...Tesco Tesco is a British multinational grocery and general merchandise retailer headquartered in Cheshunt, Hertfordshire, England, and United Kingdom. It is the second-largest retailer in the world measured by profit and third-largest retailer in the world measured by revenues. It has stores in 14 countries across Asia, Europe and North America and is the grocery market leader in the UK (where it has a market share of around 30%), Malaysia, the Republic of Ireland and Thailand. Tesco Aims * To Maximize their profits * To Provide goods/services that is cheap and affordable to the public or consumers * To maximize their sales * To grow and maintain the number one retail company in UK Tesco Objectives * To increase market share * To do better than their competitors and remain the market leader * Offering customers the best value for money and the most competitive prices Growth strategies for Tesco Tesco’s use Ansoff’s Matrix because they are using different ways in order to make sure that the Business is meeting its customer needs. Tesco’s use market penetration to keep their customers loyal, they also use product development to introduce new products to their customers, they use market development to try and get customers to buy existing products and Tesco have expanded their Business by opening a store in South Korea. Market Penetration/Relationship Marketing The way Tesco have tried to get Customers to stay loyal is by offering...
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...Running Head: TESCO Tesco Analysis [Name of the writer] [Name of the institution] Tesco Analysis Tesco Background Tesco is one of Britain's premier food retailers and has 586 shops though out Great Britain. From 1992 Tesco has developed substantially and has expanded its market share from 10.4% to 15.2%. This boost in clients has furthermore granted Tesco a large allowance of profit. (Pendlebury and Groves 2006 89) Brief data & Aims and Objectives Tesco is one of the biggest food retailers in the world, functioning over 3,200 stores. The assembly is furthermore one of the biggest online food retailers. The assembly commenced Tesco direct to market its non food offerings online. With the unfastening of a new conduit to market its non food merchandise, the assembly appears well put to leverage its place in online food market for non food market. Contains corporate strategy, value chain occurrence and SWOT Analysis Provides comprehensive business recount, segment analysis, 5-year financial tendencies, key products and key competitors Includes data on suppliers/ partners, shareholding structure and key workers with biographies (Kaplan and Atkinson 1998 56) The objective of this study is to investigate the business and financial performance of Tesco. The financial analysis will comprises of ratio analysis and the business analysis will be finished through SWOT analysis. The target is to find out the feasibility for shareholder if or not they should invest in Tesco Inc.? ...
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...Jack Cohen founded Tesco in 1919 from a market stall in London’s east end. Now Tesco operates business in more than 12 countries in the world with an employee of more than 530,000. Tesco has been always well known for providing best shopping experience for their customers. Today they as well focused on doing the best things for their customer & communities. Policies & Practices Pay & work Hours * Offering a very competitive compensation package and benefits for all staff is mantra for Tesco. * Working hours cannot be excessive & should be with national standards & industry guidelines. * Tesco freely seek employment & consider overtime as voluntary. Tesco has implemented certain rules of hiring employee with matches government standards where no hiring of child labor, forced labor to make a few. Job security * Tesco has its own term & agreement with notice period written & conditions agreed by the employee. Health and Safety * Tesco provides a safe environment for their employees, minimizing foreseeable risks in the workplace. * Tesco provides adequate governance for health and safety. * Training & Development * Tesco takes the training and development seriously and promises his people 'an opportunity to move forward. " * For persons Tesco development mean to have a workforce that can serve the best customers and managers who thoroughly understand the business and the Tesco culture. Workers'...
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...Technology has taken a big step in today’s world and is developing in all industries and sectors. These developments can successfully be implemented into the process of human resource training in many different organizations and companies such as Tesco. Technology allows for ease and a more efficient way of obtaining a goal. Different strategies and mechanisms can be introduced which will allow desired results to be achieved within a short period of time. This could be extremely important for organizations such as Tesco as a reduction in time means more profit. This report will analyse and discuss how the development of technology can be implemented into the training and development process at Tesco, one of the world’s biggest and most successful retail stores. Tesco is the third largest retailer in the world in terms of revenue. The company operates in 14 different countries worldwide with 4,331 stores and almost 470,000 employees. Business strategy Tesco has developed many strategies which focus on five main factors, 1. Core UK business 2. The Community 3. Non-food items 4. Retailing services 5. The International market Tesco’s like many other companies as a key focus to not only make a profitable business, but also a sustainable one. Therefore making sustainability a key aspect, Tesco conducts many business strategies to improve their company. Business execution In Tesco, technology has implemented something called ‘cloud computing applications’. This means that the...
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...role of the resource decision in the strategic development and the strategic planning of Tesco. The report also analyse the different strategic tools and techniques used for the strategic decision making and which are also helping the organization in developing strategic plans of the organization. There are various issues which are described in this report like the ratio analysis, break even analysis, and the other appraising methods which are used in strategic decision making and planning of Tesco. The management of the tangible and intangible assets of Tesco are also analysed by the different analytical tools and the report reveal that the organization is taking effective steps and it is managing its resources effectively and efficiently. Contents TESCO PLC: 2 Task 1: 3 Resource Decisions and their Impact on Strategy of the Organization: 3 Task 2: 5 Role of financial Analysis and techniques in the strategic planning and strategic development: 5 Task 3: 8 International Financial perspectives of Tesco: 8 Risk Assessment and Management 9 Financial Performance 9 Task 4: 11 Task 5: 16 Contemporary management Accounting: 16 Task 6: 18 Analysis of environment of Tesco: 18 Political Factors 18 Economic Factors 18 Social/Cultural Factors 18 Technological Factors 18 Steps Taken By Tesco to respond these changes: 19 Task 7: 20 Importance of Communication: 20 References 22 TESCO PLC: Tesco plc is a global grocery and general merchandise...
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...PEEST Analysis of Tesco i) Political and legal forces An example of how political and legal forces may impact Tesco can be seen in the example of the allergen food law introduced by the Food Standards Authority in the UK to be implemented in December 2014 requiring all food service organisations serving unpackaged food or food that is packaged on site for immediate consumption to supply details of the items that contain the EU Top14 allergens (Allergy Aware Kitchen, 2014). Therefore Tesco will need to ensure its products are clearly labelled if they contain such allergens, illustrating how Tesco must adhere to changes in EU law. ii) Economic forces Economic forces can be seen to likely impact Tesco through the effect of the recent economic recession influencing consumer spending. Lower household incomes in the UK as a result of the economic decline has led to a drop in sales of 1.5% in the third quarter of the retailer’s trading in 2013 as consumers have turned to discount stores such as Aldi and Lidl (Economist, 2013). Tesco similarly reported losses in its European and Asian operations, facing similar challenges from discount retailers. iii) Social and cultural forces An example of how social and cultural forces are likely to impact Tesco can be seen in the form of consumerism through campaigners and religious groups calling for supermarkets such as Tesco for clearer labelling of meat. Campaigners are particularly seeking clearer labelling of halal products to give...
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...1.0 Introduction 1.1 Training and Development: Human Resource Management (HRM) is a new term, before this department was called as a Personnel Administration or Personnel Management, but trends are changing. Today HRM is a very important part of any organization that helps to select, recruit, train and develop employees over time. Training and Development (T&D) is HRM’s subsystems that have to reduce randomness and maintain structured learning format. The main purpose of training and development is to make sure that organization have fully skilled workers that will affect on effectiveness and efficiency of an organization (Naukrihub, 2007). 1.2 Importance of Training and Development: Training and Development is the structure which was made for helping workers to develop their personal and organizational skills, knowledge, and capabilities. So, HRM have to concentrate on developing most superior labour force so that individual and organizational goals would be aligned in providing good service to the customers. In today’s competitive world all employees want to be competitive in the labour market as well. But this can be achieved only through training and development of employees. So, good HRM department should provide proper training in order to develop employee’s skills, which will lead to employee motivation and retention. Organization can not exist by itself, therefore people are the main assets of any company that helps to achieve efficiency and compete in market...
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...from 3 major perspectives namely, operations strategy, operations design and operations management. Firstly, it will show an introduction. The second section will analyze Tesco’s formats and international expansion at corporate strategy level. And then, based on the customer-centric conception, it will discuss the low price policy, cost control, loyalty card strategy, supply chain management, delivery system management and inventory management at the business unit strategy level and functional strategy level. Following this, it will make a comprehensive conclusion and show the strengths and weakness of Tesco’ operations management. Finally, the article will give some appropriate recommendations to Tesco’s sustainable development. Keywords: operations strategy, operations design, operations management 1. Introduction Tesco was established by Jack Cohen in London in 1919. Today Tesco is the biggest retailer in UK. It operates in 14 countries across the world and serves tens of thousands of customers every day. The company mainly operates 4 types of store formats in terms of Express, Metro, Superstore and Extra, respectively. In recent years, it also expands its...
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...an overview of their history and development. Include a summary of their Mission Statement, Aims and Objectives. Describe which marketing techniques are being used to market products by these two companies. Tesco: Jack Cohen was the founder of Tesco. He found it from the market stall of East London. His business starts developing year by year all over the world. The brand of Tesco became into view after five years when tea of shipment was bought by Jack. Today Tesco is running in 12 countries. They are serving millions of customers every week and they employ over 530,000 people. Now they are trying to do good things for their customers and colleagues. They have employed 7,000 employees on development programs so they can help them to gain more experience and skills which will be helpful for them to move on to the next challenge of Tesco. Tesco’s aim is to keep their customers royals by decreasing their prices. They want to maximise their profit by increasing their sales. The aim of Tesco is to outperform their competitors and remain in the market. The mission statement of Tesco is written below: “In any business, clear direction is vital. Our vision guides the direction and the decisions we take as an organisation. Tesco is a company built around customers and colleagues, high-quality assets around the world and multiple opportunities for growth and these characteristics are central to our vision for the business. We want Tesco to be most highly valued business...
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...evolved. The report is supported with marketing definitions from three different sources and what is meant by a marketing orientation and marketing process. Secondly, an introduction of Tesco the organisation the report will be focusing on throughout the report. Within the report there are some tables and graphs used to support the answers to some of the assessment criteria. The fundamental concepts and principles that underpin the marketing process are discussed and the use of environmental analysis in marketing, while the narrator carries out their own analyses at both macro and micro levels. The report investigates the importance of market segmentation and how this leads to the identification and full specification of target groups. It then considers buyer behaviour and positioning. The main elements of both the original and the extended marketing mix are then looked at. An introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix have all been discussed. Finally the narrator has developed marketing mixes to meet the needs of different target groups. The report includes the differences when marketing services as opposed to goods and examines marketing to businesses instead of consumers and the development of international markets. The report concludes by summarising the principles of marketing and recommendations on what an organisation can do to maintain growth. Evolution of Marketing The...
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...Marketing objectives for Tesco | Page:4 | Marketing techniques used by Tesco | Page: | Marketing objectives for Oxfam | Page: | Marketing techniques used by Oxfam | Page: | THE ROLE OF MARKETING THE ROLE OF MARKETING What is marketing? Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Marketing is about identifying and understanding your customer and giving them what they want. It's not just about advertising and promoting your business. Effective marketing is a result of examining every aspect of your business and how it affects the consumer's end experience. Marketing covers everything you'll need to do in order to deliver your products and services to the consumer including research, planning, pricing, packaging, promotion, selling and distribution. Ansoff’s matrix One way of analysing the various strategies that an organisation may use to grow the business is with Igor Ansoff’s (1965) matrix. This considers the opportunities of offering existing and new products within existing and/or new markets and the levels of risk associated with each. This matrix suggests four alternative marketing strategies: 1. Market penetration - involves selling more established products into existing markets, often by increased promotion or price reductions or better routes to market, for example online. 2. Product development - involves developing new...
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...Marketing Techniques Describe the marketing concepts used by Apple and Tesco. Marketing definitions: • Marketing is the social process by which individual’s and groups obtain what they need and want through creating and exchanging products and value with others (Kotler) • Marketing is the management process that identifies, anticipates and satisfies customer requirements profitability ( The chartered institute of marketing ) • The right product, in the right place, at the right time, at the right price (Adcock et al). Marketing Orientation: Product concept- This is when a company or an organisation for e.g. Apple improve there product such as the iPhone by adding new features to it so it’s better than the last phone. This is because it maintains the interest of existing customers and also attracts new customers. Selling concept- This is when a company or an organisation persuades customers into buying products through aggressive selling for e.g. putting on special offers. Production concept- This is when a company or an organisation sell on selling the product as cheap as possible. This is because it attracts more customers and by selling the product cheap as possible they use cheap materials to increase profit margins. Marketing concept- This is when a company or an organisation focuses on the customers where the business looks at all aspects of the business to insure that it has the customers at the heart of all its decisions making...
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