Business Unit 1 Assignment 2
3 Unit Title 1: The Business Environment Assignment 2 Title: Similar Business in Different Worlds
Tesco PLC is a British multi-national grocery and general merchandise retailer. It is the third largest retailer in the world measured by revenues and the second largest measured by profits. It has stores in 14 countries across Asia, North America and Europe and is the grocery market leader in the UK. Tesco has been particularly successful because of its powerful brand. It has a reputation for value, low prices and for being customer focused. Its brand equity and associations have helped the company to expand into new sectors and markets.
In the United Kingdom Tesco have over 290,000 employees and over 2700 stores. Tesco started trading in the United Kingdom in 1924. Growth in the UK businesses comes from new space, extensions to existing stores and a multi-format approach. Sales of general merchandise, clothing and electrical also form another key of their strategy and also contribute to the over all growth. Their success begins with delivering a great shopping trip in every one of their stores. They also have the widest range of any food retailer including the leading own label range. Finest and Value are the two largest food brands in the UK – bigger than Coca-Cola – each with more than £1 billion of sales per year.
Tesco- which entered the Chinese market in 2004- currently operates 96 supermarkets and 12 express stores across china, with its operations mainly centered in Shanghai. They currently employ more than 27.000 people and serve 4m customers every week. They are also developing their own freehold shopping malls, under the name ‘life space’ which will be anchored by a Tesco hypermarket and will provide a one stop destination shopping experience for mainstream Chinese customers. The first mall opened in Qingdao in January 2010. Tesco currently has 82 hypermarkets and four 500,000 sq ft "Life space" shopping malls stretching along eastern China.
Tesco PLC is a British multi-national grocery and general merchandise retailer. It is the third largest retailer in the world measured by revenues and the second largest measured by profits. It has stores in 14 countries across Asia, North America and Europe and is the grocery market leader in the UK. Tesco has been particularly successful because of its powerful brand. It has a reputation for value, low prices and for being customer focused. Its brand equity and associations have helped the company to expand into new sectors and markets.
In the United Kingdom Tesco have over 290,000 employees and over 2700 stores. Tesco started trading in the United Kingdom in 1924. Growth in the UK businesses comes from new space, extensions to existing stores and a multi-format approach. Sales of general merchandise, clothing and electrical also form another key of their strategy and also contribute to the over all growth. Their success begins with delivering a great shopping trip in every one of their stores. They also have the widest range of any food retailer including the leading own label range. Finest and Value are the two largest food brands in the UK – bigger than Coca-Cola – each with more than £1 billion of sales per year.
Tesco- which entered the Chinese market in 2004- currently operates 96 supermarkets and 12 express stores across china, with its operations mainly centered in Shanghai. They currently employ more than 27.000 people and serve 4m customers every week. They are also developing their own freehold shopping malls, under the name ‘life space’ which will be anchored by a Tesco hypermarket and will provide a one stop destination shopping experience for mainstream Chinese customers. The first mall opened in Qingdao in January 2010. Tesco currently has 82 hypermarkets and four 500,000 sq ft "Life space" shopping malls stretching along eastern China.