What is Tesco?
Tesco is a business which sells literally everything. In this report I will be identifying the key stake holders, the purpose of the business, business sector, and business scale and business ownership. Tesco was founded in 1919 by Jack Cohen from a market stall in East London. Over the years Tesco’s has grown and they now operate in 12 countries around the world, employ over 530,000 people and serve tens of millions of customers every week. What is the purpose of the business?
The main purpose Tesco serves is supplying wide varieties of goods which it sells, both in store and online. It also offers financial services such as its own credit card, personal loans and various types of insurance, in addition to providing a home delivery service to its online shoppers. Tesco sells products from the grocery section all the way up to the electronic section. Tesco also provides the customers with services such as eye check-ups and insurance Which sector is Tesco?
Tesco is a Tertiary sector business as it provides to the customers and not makes the products. It is a private business this means it is a business owned privately. Tesco is a global business with branches even in China and India. It’s a large business. Business ownership- Partnership, Tesco is a partnership because it is a really big business with millions of branches all over the world. Tesco has thousands of partners, this is because Tesco needs funds to run the business and buy the products limited liability. Limited liability is when the owner of the business is not responsible for the debts therefore his personal belongings cannot be taken from the bank, whereas unlimited liability means that your personal belongings are taken away from you if you are in debt.
Please join StudyMode to read the full document