Tesco was first found in 1919 by a man called jack Cohen. He owned a little stall in London’s East End. He began by selling surplus groceries. On his first day Jack Cohen made a profit on sales on sales of £4. By 1924 Jack had sold his first own branded product, which was called Tesco tea. Tesco was formed by the initials of TE Stockwell, who was a partner in the firm and CO from Jack’s surname. In north London Jack opened the first TESCO, the store only held dry goods and Tesco’s tea. Tesco expanded but the word ‘superstore’ was first used when Jack opened a store in Crawley, West Sussex. In 1996 Tesco Became a UK business 24 hour trading, this helped customers shop whenever they wanted to. By 1999 Mobile phone went on sale in the UK stores and Tesco’s became the largest retailer of pre-paid mobiles. In 2001 F&F was launched also known as Florence and Fred clothing range. Tesco has now launched their first ever online grocery shopping services in central Europe in Prague, Czech Republic. Tesco is a Public Limited Company’s which means it’s a standard legal designation of a company which has offered shares to the general public and has limited liability. A Public Limited Company’s stock can be acquired by anyone and holders are only limited to potentially lose the amount paid for these shares. It is legal from more commonly used in the UK. Two or more people are required to form such a company, assuming it has a lawful purpose. Tesco is also a PLC which means it’s a British multinational grocery and general merchandise retailer headquartered in England, United Kingdom. It’s the second-largest retailer in the world measure by profits. Tesco is listed on the London Stock Exchange and had a market capitalisation of approximately £24.2 billion as of 15th January 2012. Tesco is the 15th largest of any company with a primary listing. Tesco has many businesses such as Tesco UK, Tesco China, Tesco in India, Tesco Malaysia, Homeplus, Tesco Lotus, Tesco Czech Republic, Tesco Hungary, Tesco Ireland, Tesco Poland, Tesco Slovakia, Tesco Kipa, Fresh and Easy, Tesco’s Bank, Dunnhumby.
In this pie chart it shows that Tesco’s has increased massively. You can see this by the pie chart showing. Tesco has the largest market share at 30% but then Asda is then at 18% and Sainsbury’s and Morrison’s. An oligopoly is when particular of the market, must of time it’s controlled by small group of firms. In an oligopoly there are at least two firms controlling the market.
This is an oligopoly this is because a small amount of the stores own most of the market share, must of the time its 75% of the market share, such as Tesco’s, Asda, Sainsbury’s and Morrison’s.
Aims and Objectives
Aims are n overall direction of the business for example survive, making a profit, grow in size and expand into new markets. Objectives are a breakdown of the aims in order that it can be me, for example they should be SMART.
Specific- they should set out exactly what the firm trying to achieve for example increase profit or sales by 10%. Tesco want to expand their Tesco express/metro in the UK. They also want to expand their online service. These two aims are very achievable as they are already doing very good at what they already doing so by increasing online sales by 12% by the end of 2014 seems reasonable and expand Tesco metro/Express stores by 20 more stores by 2015 in the UK also seem very reasonable. Measurable – it must be possible to measure whether or not the objective has been achieved. As Tesco are wanting to expand their stores and online services an estimate of 160 employees will need to be employed by the end of 2014, but to be able to do this stores will need to be put up, people will have to interview people to employ. As a result of this students who need a part time job and people who sign on will have a chance to find themselves a job at Tesco’s. Agreed – everyone involved in...
Please join StudyMode to read the full document