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Business strategy report

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The company not only manufactures and distributes over 40,000 food products but also clothing and other non-food lines. Fifty percent of the company’s sales come from own-label products which feature at three stages: value, normal and finest. Many stores in the UK also have gas stations in the proximity, making Tesco the leading independent petrol retailers in Britain. They have also venture into financial service industry under the slogan Tesco Personal Finance. Tesco was founded in the year 1919 in London. It is regarded as the largest retailer in Britain and the third largest in the world with reference to profits. For instance, Tesco had group sales of $95.1 billion in the year 2008, an 11.1% leap compared to the previous year. It has been at the forefront of UK grocery market for over twenty-five years (Palmer & Mark, 2010). Its success is attribute to the introduction of the Tesco Club card, its online–selling and their move into non-food items.Tesco has a wide range of competitors on one hand and a huge following in customer numbers as well. The challenge is retail market competition, which intensifies as it expands. The company’s main focus is to offer the customers their preferences, whenever they want them so as to build trust and loyalty (Goodwin, 2009). With the increasing geographical presence, Tesco currently operates in thirteen countries around the globe that is seven in Europe with UK included; Poland, Turkey, Hungary, The Republic of Ireland, Slovakia, Czech Republic, in the United States of America and in five Asian nations; Japan, Malaysia, Thailand, South Korea, and Taiwan. The company’s performance is highly swayed by the political conditions of the countries it operates in, including the EU. Tesco enjoys a twenty-eight percent (28%) market share, trailed by ASDA’s fifteen percent (15.2%), then Sainsbury’s fourteen percent (14.3%) and lastly Morrison’s ten percent (10. After Somerfield merged with the Cooperative, the group currently has 8% market share in which Cooperative has 6.3% and Somerfield is at 2. Other UK chains of supermarkets are Waitrose, M&S, Iceland, and so on (Finch, 2008)The company is bound by government legislations with regard to employment in which the government encourages the retailers to strategically offer mix of jobs to its citizens to the perspective of specialized, highly-paid from the traditional lowly-paid and locally-based jobs (Finch, 2008). This is a
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preview essay on Business strategy report
  • Pages: 14 (3500 words)
  • Document Type: Essay
  • Subject: Business
  • Level: Ph.D.
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