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Founded by Jack Cohen in 1919, Tesco is the largest British retailer with respect to the market share and the second largest following Wal-Mart when it comes to profits. Through all the difficulties, booms and recessions, Tesco has not only been able to survive but also has…
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Download file to see previous pages... As mentioned above, Tesco is nothing less than a living legend since it has been able to survive for so many decades. Quite understandably, this has caught the attention many experts, professionals, and critics. They all wonder about that magic formula or approach or Tesco has, which has enabled it to fight, survive and grow. Tesco takes pride in revealing this magic formula and calls it as Tesco’s way. More importantly, this Tesco’s way was noticeable during the visit to the Magor’s distribution centre. Sophistication in technology, highly trained and capable staff to use the same, simple yet complete and spacious infrastructure, proper planning with back up plans for peak times, efforts undertaken to ensure employee satisfaction, micro management, proper communication amongst employees, acknowledgement of company’s goals by employees and others were showing a glimpse of what makes up the Tesco’s way.
Without any doubts, Tesco’s operations revolve around the corporate objectives set by the top management and inherited by its founder Jack Cohen. Jack once said, “You cannot do business sitting on your ass” (Seth & Randall, pp. 212-213, 2001).
Jack’s strategy was of constant hard work, innovation, change, adaptability, and openness to experience and Tesco has inherited the same from him. Constant growth, being valued by the customers, and having the most committed and loyal staff, becoming a global retailer having influence at all parts of the world and making Tesco a strong brand name even for non-food items.
Moreover, for creating this value, Tesco believes that it should the understand the needs, cultures and mindset of its customers, create maximum employee satisfaction because it leads to customer satisfaction and divert all its strength, efforts, and innovation towards creating value for its customers.
Another famous tagline of Tesco is ...Download file to see next pagesRead More
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