Being one of the leader the vision of the firm depicts the goal of the company i.e. what exactly Tesco wants to achieve in the long run and to which direction the company is growing its business. The mission is the area to which the company wants to operate their businesses and the target customer for the company to serve. The mission gives the idea to build their foundation stone on which the company device strategies and implement them (Nwagbara, 2011, p.62).
The core and foremost value of Tesco is to take care of the people for whom the company serves i.e. their customers. The only value of the firm is to earn lifetime loyalty of the people of the society and create value for them (Nwagbara, 2011, p.62). The company has a strong belief that no one in the industry tries so harder as Tesco to reach out to their customer and serve them with their needs (Polytechnic Institute of New York University, 2011, p. 1). The socially responsible company always maintain healthy relationship with the neighbourhood and always trying to meet the demands of the customers and be the responsible member of the society. Great quality of product with wide range of products is the major advantage of Tesco to maintain its brand image in the market for its core competencies.
Stakeholder Analysis Stakeholders are individuals or companies who has stake in the company. Investors are the main drivers of a business. Tesco with its well governed policies in business and its sustainable growth in the market gives confidence to the investors to get back competitive return for their investment on Tesco and their shareholdings. The transparency of the company is the major reason for building trust of the company amongst the shareholders. The shareholders also have the belief on the company that it will implement strategies for the long term development of the company keeping in the mind the interest of the shareholders. Blackrock Inc holds the major share of the company with its 5.48% of issued share capital followed by Legal & General Investment Management Limited with around 3.99 % share and 3.02 % of the total share by Berkshire (Tesco Annual Report and Financial Statements 2011, 2011, p. 58). By benefiting the stakeholders of the company like shareholders, staffs, customers and other related people the company maintains the high quality products and in turn increase the value of the firm. The company constantly meet the growing need of the customers with the wide range of product line and differentiate itself from the competitors in the market. The image building potential and loyalty towards the stakeholders facilitates the process of
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Tesco, the global merchandise as well as grocery retailer is one of the constituents of the FTSE 100.Following the leader Wal-Mart, Tesco is the second largest retailer of the world in respect of profit and by revenue it stands third after Wal-Mart and Carrefour. …
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16 pages (4000 words)Essay
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