Straegic Audit on Tesco plc

Topics: Tesco, Tesco Bank, Hypermarket Pages: 10 (3684 words) Published: December 4, 2013
Introduction:
Tesco Plc is a United Kingdom based international supermarket chain. This report examines Tesco strategies, the reasons behind each component and how vision, aims and cultural value interrelate to make the strategies successful. Tesco was founded in 1919 by Jack Cohen from a market stall in London’s East End. Today it is one of the largest retailers in the world. There are currently a team of over 530,000 people, in 12 markets dedicated to bringing the best value, choice and service to their millions of customers each week. This level of success does not happen by chance. Tesco’s leaders have always set high standards and clear goals, never settling for anything less than the best. Today, they focus on doing the right thing for their customers, colleagues and the communities they serve. Tesco have always been committed to providing the best shopping experience.

Jack Cohen (1919)

Tesco Ireland: The Tesco businesses in Ireland have grown enormously since they entered in 1997; they are now the leading grocery retailer in the country with 142 stores. Revenue for 2012/2013 was €2,317.5 million. Tesco are a major contributor to the Irish economy with an annual contribution of €2.7billion. This includes €705.8million a year exports to the Tesco Group, including shops in the UK, Central Europe and Asia. Irish exports to the worldwide Tesco Group represented 9% of the total value of Irish food and drink exported in 2010. . According to Nielsen market research, Irish customers have switched to cheaper grocery brands to save money, and are offsetting inflation by shopping “little and often”. In November 2011, Tesco Ireland opened the zero carbon Cabra store, which is the first zero-carbon supermarket in Ireland. Tesco Ireland is committed to supporting good causes across the country and since 2001 has raised more than €10million for its charity of the year. Tesco have also invested €15million in schools and clubs across Ireland through the Tesco for Schools and Clubs scheme (previously Computers for Schools and Sports for Schools and Clubs Schemes). Over half of all schools in Ireland have benefited from free equipment from Tesco since their entry into the market in 1997. Tesco’s ‘Every Little Helps’ philosophy puts customers, communities and employees at the heart of everything it does. It prides itself on providing a great shopping experience for every customer it serves, whether in stores, online or in its many other service provisions. Tesco Ireland is committed to buying local and supporting Irish suppliers. Over 11,000 Irish farm families supply their produce to Tesco, and every drop of our fresh, non-organic milk is sourced from Irish farms. And 100% of our fresh beef, lamb and pork comes from Irish farmers. We also encourage small community farmers via our Local Supplier Programme, which allows local suppliers to provide high-quality product to Tesco stores near them.

Mission Statement, Values and Visions:
The company’s mission statement reads, “Our core purpose is, ‘To create value for customers to earn their lifetime loyalty’. We deliver this through our values, ‘No-one tries harder for customers’, and ‘Treat people how we like to be treated’ ”. Tesco is recognised throughout the world as the world leader in retailing. From Tesco’s main values, vision and strategy it is clear that the company will be market leaders in their selected markets but this will be done in a sustainable manner “ in the creation of long-term value for all stakeholders on a socially and environmentally basis”. Tesco’s core purpose (mission) is simple: ‘We make what matters better, together.’ Companies, like Tesco, that enjoy long-term success, are focused businesses. They have a core vision that remains constant while the business strategies and practices continuously adapt to a changing world. In an increasingly competitive global environment, without a clear vision a business will lack...
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