Unit 1 Business Environment - Task 1

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Unit 1 – The Business Environment – Pass 1

Chosen Business: Tesco
Tesco’s is a global grocery supermarket that has over 4,811 locations over the world which primarily specialises in the production and selling of household items such as Food, Drink, and Toiletries. Tesco’s is a public limited company that trades on the London Stock Exchange and has a board of directors that manage the company and decide on its interests for the future. Tesco was formed in 1919 and become a PLC in 1947, as of February 2010 they have sold over £62.54 billion in products and services. As of 2011 Tesco’s have expanded their store shelves to include clothing, electronics and DVD’s in order to maintain their competitive edge. They have also added a range of financial and insurance services such as cashback, mobile credit, car and dental insurance and petrol. Type of Business:

Tesco is a public-limited-company that is traded on the London Stock Exchange under the Ticker Symbol: ‘TSCO’. It is a prominent corporation in the retail industry in the tertiary sector and privately run by a few select individuals who are placed on the board of directors. As a company that offers services to the populace they put emphasis on the relationship between the corporation and their customers; as such Tesco have incorporated a variety of schemes in order to reward customers who are repeat buyers e.g. the Tesco Clubcard System. Tesco is run from private individuals, and as such is a completely profit-run organization which relies on keeping their prices at the same rate or lower than their competitors in order to bring new customers to their stores. Purpose of Business:

Since Tesco’s is a company based in the private sector their main goal and objective is to make a profitable income after deductions have been subtracted from the total earning revenue, while this is Tesco’s primary intention an addition of a Tesco store into a city or suburb location can be a boon for the local populace. When Tesco...
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