Mission, Aims and Objectives of Tesco PLC - Case Study Example

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The paper presents the mission, aims, and objectives of Tesco PLC. The mission statement guides the actions of the organization, spells out its overall goal, provides a sense of direction, and guide decision-making. Its core purpose is to create value for customers to earn their lifetime loyalty…
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Mission, Aims and Objectives of Tesco PLC
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Download file to see previous pages The company developed seven corporate objectives. These seven corporate objectives are quantifiable medium to long-term targets that inform Tesco’s corporate strategy. The first objective for Tesco is to continue to grow its UK core market. The UK is the largest business in the Group and a key driver of sales and profit. In 2011, the UK contributed 68% of the Group’s trading profit (Tesco 2011a). The second objective is to be an outstanding international retailer both in stores and online. The company is currently in 14 markets outside the UK that contribute 25% of the Group’s profits. The third objective is to be as strong in everything the company sells as they are in the food. This involves broadening its products and services offering. The fourth objective is to grow its broadening retail services in all the markets where the Group operates. Tesco has largely focused its retailing services within the UK market. The three remaining objectives are: to put the Group’s responsibilities to the communities it serves at the heart of what the organization does; to be a creator of highly valued brands, and to build their team so that the organization creates more value.
Tesco is a large, multinational organization. This naturally leads to the organization adopting a huge and complex organizational structure that has to delegate roles and responsibilities across the world. The diagram is shown above only covers the executive level of the Group and does not include the board of directors, to whom the Group CEO, Philip Clarke reports.
Organizational structure refers to the patterns of relationships between roles in an organization and its different parts. Some define it as the system of organizational rules, divided into rules regulating the behavior of people and rules regulating the functioning of machines (Scheidegger 1997). It deals with issues such as responsibility, authority, communication, coordination, and control. A more modern definition is suggested by McMillan (2002) who defined organizational structure as the visible and invisible architecture that connects and weaves together all aspects of an organization’s activities so that it functions as a complete dynamic entity.
How an organization is run depends on the competitive strategy that is has adopted. For example, pursuing a differentiation strategy requires the business to be run differently than when the business is pursuing a low-cost leadership strategy. For this reason, Chandler (1962) argued that structure follows a strategy in organizations. The strategy is the determination of long-term goals and objectives, courses of action and allocation of resources, and structure is the way the organization is put together to administer that strategy, with all the hierarchies and lines of authority that the strategy implies.
Mintzberg supported Chandler’s work that postulated that there exists a relationship between an organization’s strategy and its structure. According to Mintzberg (1992) organizations can be differentiated along three basic dimensions: the key part of the organization, its primary coordinating mechanism and the type of decentralization used. These three parts essentially depict the organisation's structure. The key part refers to the part which plays a major role in determining an organization’s success or failure. ...Download file to see next pagesRead More
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