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Strategic Decisions to in Changing Circumstances in Tesco Plc Companies - Research Proposal Example

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The report is based on Tesco Plc because of the nature of the industry in which it operates where the company has to look into the demand of the customers. The characteristics of the changing environment suggest that the company should continuously engage in innovation promoting new products and services…
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Strategic Decisions to in Changing Circumstances in Tesco Plc Companies
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Download file to see previous pages Tesco Plc was established by Jack Cohen who operated as a street market borrow trader financed by his war pension selling surplus groceries from a stall in East London in 1919. Tesco name was formed after Jack Cohen sold its first own brand which was Tesco Tea brought from T.E. Stockwell. Tesco’s mission is “to create value for customers to earn their lifetime loyalty” through understanding customers and their needs, being first to meet their needs and act responsibility towards community (www.tescoplc.com). The vision of Tesco is to become the world’s economic household supplier of choice. It has become highly profitable and grown rapidly, progressively diversifying from superstores into such areas as non-food sales, home shopping, convenience stores, insurance and communication services providing “choice” to its customer which is also one of its core values (Clift, 2007). Tesco achieved significant success by the operation of “Pile it high, sell it cheap” strategy in food retailing where price competitiveness was crucial and fitted well with the requirements of the customer (Fernie and Sparks, 2004). With the help of its stringent cost-cutting strategy, Tesco was able to build 150 small and physically unimpressive stores by 1950 and by the same time Jack Cohen announced profits of £500,000 which paved the path for first Tesco supermarket in 1956 (Seth and Randall, 2001). The company has emerged from a changing environment since 1956 and has become the United Kingdom’s leading retailer. ...Download file to see next pagesRead More
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