The core objective of the company is creating value for their customers. And thus, it can bring in lifetime loyalty for the customers. The company believes that success depends on two kinds of people. One is the human resource and the other…
So, the values of Tesco can be lined up as follows:
Tesco has a consistent strategy that has allowed the company to strengthen their core business in UK and also helps to drive expansion towards new markets. The underlying principle for this strategy is to widen the scope of the business as the company is able to deliver sustainable growth for long term. This can be done by following the customer in domestic as well as in the new markets of abroad. They had taken a strategy to diversify the business in the year of 1997. The new businesses that have been started and developed due to this strategy over the last 13 years are now profitable and competitive enough. Even Tesco is now becoming a market leader in many of their markets outside UK. The group is able to make good progress. This strategy basically has five objectives.
Since the 1990, the company has been seeking out for new opportunities for generating returns and growth for shareholders in new market. Today, the group is able to operate in 13 markets outside the United Kingdom and includes that of Asia, Europe and North America. The full appearance in international retailing is not something which can happen overnight. It needs long term approach. Tesco has evolved a strategy based on six factors. Those are as follows
Flexibility: Every market is different from each other. So they have their unique approach. For example, in Japan fresh products are preferred and so they tend to shop several times a week and because of that reason, the stores are located in the heart of the community. So, it would be prudent to enter into that market through acquiring of discount supermarket operators.
Maintain Focus: The group understands the customer’s requirement. They know that customers usually looking for great value and great choice. So, the company’s wish to prove themselves as the leading local group needs long term effort.
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(Leadership Management and Change Essay Example | Topics and Well Written Essays - 3500 Words)
“Leadership Management and Change Essay Example | Topics and Well Written Essays - 3500 Words”, n.d. https://studentshare.net/miscellaneous/399760-leadership-management-and-change.
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