Headquartered at Hertfordshire, Tesco plc is the grocery market leader of UK with over 30 % of the total market share. The company is also having its presence at Malaysia, Republic of Ireland and at Thailand. With around 2318 stores worldwide Tesco operates in 1878 stores within UK. Tesco was established with the amalgamation of T. E. Stockwell and Cohen with the success of the self-service grocery store and then it started expanding its business from small stores to large supermarkets. At a very fast pace it became a popular name on the mind of the households with the launch of the household goods and apparels. Then Tesco entered into the business of petrol stations selling fuels for competitive prices. With gradual revenue earning the company expanded even bigger with various other sectors like in Banking, Financial products and services (Data monitor, 2004, p.4). With the belief of a sustainable growth and well governed business the investors of the Tesco plc wants competitive returns of their investments or shareholdings. Transparency of the company’s operation plays a vital role in gaining the trust of the stakeholders and they expect the implementation of the robust strategies of the firm for a long-term progress. The major share holders of the company are Blackrock Inc who own 5.48% of the issued share capital and few others like Legal & General Investment Management Limited who owns 3.99 % and Berkshire Hathaway with 3.02 % of the total issued share capital of Tesco (Tesco Annual Report and Financial Statements 2011, 2011, p. 58). With the rapid growth of the company the company need to build its brand value by benefiting the stakeholders which includes its customers, staffs and shareholders. Tesco believe in maintaining its sustainable position in the market with quality service and increased customer value. The strong product line and the pillar brand name is the key to the success of the firm which help the company to differentiate itself with the competitors and helps the firm to meet the demand of the growing need of the customers. The gained trust by the company helps to understand the values of the firm by the customers which in turn help the company to diversify into new areas of services. The company is also involved in different benefiting community programs to attract more and more stakeholders being a responsible retailer. Tesco with a very responsible track record for its great values and customer services acts as the catalyst for the growth of the company. The brand building capability of and its increased emotional as well as the functional loyalty from the customers, staffs and shareholders contributed to a great extent for the profitability and the sustainable growth of the firm in the long run. The investments of the shareholders and other peoples provide a lot of support for building the opportunities and develop the brand which in turn allows the company to diversify for the benefits of the stakeholders (Tesco Annual Report and Financial Statements 2011, 2011, p. 40). Managing the stakeholders is one of the vital activities of the company that should be carried out to maintain a strong relation with the customers and other shareholders of the organization. Survey of the market situation and the present position of the firm are required to be carried out by the company for the sustainable growth of the firm. Engagement with the stakeholder helps the firm to identify the risk and opportunities that the firm could face in future.
Tesco plc is a constituent of FTSE 100, a global grocery and merchandise retailer. Tesco being the second largest retailer by profit after Wal-Mart and third largest by revenues following Wal-Mart and Carrefour have stores worldwide in 14 countries like Asia, North America and Europe. …
The highly competitive business landscape of the present day has accentuated the need for greater efficiency in business organizations. Efficiency in this regard means a holistic development program that ensures the development of every department of the organization.
Reportedly, with around 2318 stores worldwide Tesco operates in 1878 stores within the UK. Tesco was established with the amalgamation of T. E. Stockwell and Cohen with the success of the self-service grocery store and then it started expanding its business from small stores to large supermarkets.
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