GDB20333 INTRODUCTION TO MANAGEMENT
SEMESTER SEPTEMBER 2017
GROUP PROJECT
TITLE: TESCO STORES MALAYSIA SDN BHD
PREPARED FOR : PROF. AMJAD SHAMIM
PREPARED BY : AHMAD HAZIQ BIN MANSOR (21953)
AREEF IMRAN BIN AZLI (20878)
ISMAIL ARIF BIN AHMAD FAUZI
MUHAMAD AQIL IRFAN BIN MOHD YUSERI
(21914)
MUHAMMAD ZUL-FIKRI BIN OMAR
SUBMISSION DATE : 12th DECEMBER 2017
ABSTRACT
This Group Assignment for subject Introduction to Management (ITM) Semester September
2017 is to choose and visit any registered organizations (Sdn. Bhd OR Bhd) in Malaysia. Later, the
students need to interview the manager in order to find out the management practices in the
organization. The finding needs to be analyzed from the course syllabus, subject to lecturers
approval. Hence, the students are required to submit brief information about their project.
Once the project is completed, the student required to prepare a 10 minutes video presentation
regarding the project. Both report and video presentation must be submitted before 18th
December 2017. Therefore, students are advised to present their report in a simple yet
knowledgeable manner. Marks is awarded based on creativity, contents, presentation, quality of
the report and teamwork.
Our team has chosen TESCO MALAYSIA STORES SDN. BHD as our topic. This paper will
present in-depth presentation highlighted on organization details, discussion and recommendation.
1. INTRODUCTION
Tesco Plc is one of British largest retail grocery currently the first in terms of the top 10
retail grocery in the United Kingdom. It was the first UK business to make 2 billion in profits
when it announced the feat early in 2005, (Tesco Annual Review, 2005) and the third largest global
retailer based on revenue. Over the years, retail grocery sector represents the largest industry in
UK providing employment for millions of people in UK either in manufacturing or in retailing. In
2003 retail accounted for 9% of domestic product (Datamonitor, 2003).
The name TESCO was derived from the combination of a tea supplier's name T.E.
Stockwell and Jack Cohen the founder of Tesco plc. Tesco was founded by Jack Cohen when he
began to sell surplus groceries from a stall in the East End of London in 1919 and in 1924 Jack
Cohen made a new label by combining the first three letters of the supplier's name (TES), and the
first two letters of his surname (CO) to form TESCO. Tesco is one of the largest food retailers in
the world, operating around 2,318 stores and employing over 326,000 people.
In UK, Tesco Plc operates under four banners namely Tesco Extra, Superstore, Metro and
Express. The first Tesco store was opened in 1929 in Burnt Oak, Edgware, and Middlesex and in
1947; Tesco was floated on London Stock Exchange as Tesco Stores Holdings Limited. Fifty
percent of sales in Tesco are gotten from Tesco's own-label products which are in three levels,
values, normal and finest. Tesco plc is also becoming one Britain's largest independent petrol
retailer because as well as convenience produce, many stores have gas stations and other retailing
services rendered by Tesco also include Tesco personal finance. Tesco plc does not only specialise
in food and drinks, the company also specialise in some other areas like clothing. Electronics,
telecoms, retailing and renting of DVD's CDs, music downloads, car insurance and lots more.
Tesco develop operations in Malaysia in early 2002 and become the structure to the other
Asian operations. Tesco Stores (Malaysia) Sdn Bhd was established as a joint venture with a local
company Sime Darby Berhad who hold a 30 percent shares in the business. This project employed
an interpretative, qualitative methodology to examine the management in Tesco retail.
Furthermore, field research involves investigating the views and opinions of organisations directly
and indirectly involved in the decision-making process is receiving increasing support within the
literature.
Tesco aims to minimize the cost of products and at the same time aim to earn high. Profit
maximization is one major reason why a business will stand and Tesco sees selling at low price
will attracts more customers thereby giving customers better chances of making choice in the
quality and quantity of products at a valued price. Tesco need to ensure 100% customers
satisfaction by offering good customers services and excellent Value for their money which
differentiates them from their competitors. Dedication to their employees as well as to customers,
ensuring that all their wants and needs are met.
2. OBJECTIVE
The purpose of this project is to provide the student an opportunity to understand the
management practices in real life organizational settings and examine the impact of effective
management on the overall success of an organization.
3. METHODOLOGY
Tesco was chosen for this project for a reason. Firstly, the transformation underway in
largest retailer especially in Malaysia has been profound while its growth has been one of the most
consistent amongst its ambitions. Tesco unveiled one of the most ambitious programmes that
would involve the development of hypermarket in Malaysia with generating about 10 billion sales
per annum and which in proportional terms would be equivalent to that of Malaysian-based food
retailers. Second, internationalisation has been a major aspect of the strategy of Tesco over the
years. Significantly though, not all Tescos operations have been successful and this has resulted
in some from divestment. It is argued that divestment is highly visible case of where learning is
likely to have taken place. We also utilize resources available through the library and other sources
such as internet to obtain information.
Next, we need to visit any registered organizations (Sdn. Bhd OR Bhd.) in Malaysia to
interview its manager to find out the answers of ourproposed questions. For our project, he
interview was undertaken with the manager of Tesco with the leading food sector buy and sell side
analysts, and acquisition specialists. In planning the interviews, particular attention was given to
us to the danger of interviewees presenting biased view and opinions. In short term, it was an in-
depth interviewing method that allows us to clarify, develop, refine and verify the core issues of
the interview protocol. During the early stages of the interview, the content of the interview is
unstructured and flexible during which interviewee tells a story about the key event or success
episode and what they have learned about their experiences in Tesco management. The process
used in the interview become more structured when the interviewer converges and touch the
specific issues of the problem and to disprove the emerging explanations of the data. The length
of the interview usually varied about half an hour. Rather than concentrating on one or two
dimensions of Tescos managements, the interview protocol explored learning initially from a
broad perspective.
Each lesson is not necessarily end in itself, but an entry point for a wider discussion. Data
collection and analysis were conducted simultaneous. Analysing data need to involve categorising
and triangulating the evidence from multiple perspectives, and follows the presentation of findings
largely with the most recent interview protocol. Therefore, Tescos experiences were not assessed
by any quantitative measurement of the amount of learning occurred, but rather by reference to the
content of these experiences and the impacts that such learning had on the outcomes or trajectory
of expansion.
The reports now finding from the in-depth interviews. The key themes from the findings
are discussed in the section that follow. The identities of respondent will not be disclosed during
the remainder of this paper. This project will be largely for formatted in the same way as the
dimensions outlined in the framework. The data that was gathered for this project focus on Tescos
Malaysia operation especially in their managements. The finding proceeds with an initial overview
of the case company developments. The main body of findings follow this and directly examines
the lessons learned by Tesco from the retail operations and their impact on the future trajectory of
operations.
4. FINDING
Organizational History
In Malaysia, Tesco comes through a network of over 50 hypermarkets, which are
serviced by two state of the art distribution centres in Selangor. Since the launch of the business
in 2002, Tesco have opened many stores across Peninsular Malaysia. Recently, Tesco have
opened two new stores. In total, Tesco stores in Malaysia have a combined floor space of over 4
million square feet.
With the influence of the internet increasing, two thirds of Malaysians have access to the
internet. Following the launch of grocery home shopping in 2013, Tesco grew their own grocery
home shopping business in its first year of operation in the country. Tesco offer a wide range of
4,000 own brand products 90% of which are sourced in Malaysia. They include Tesco Value,
Choice and Finest, as well as specialist ranges such as a Lighter Choices.
Mission and vision
A vision is an aspirational view of where the business wants to be. It provides a benchmark for
what the business hopes to achieve. Tesco is a company built around customers and colleagues.
Its vision guides the direction of the organisation and the strategic decisions it makes. Tescos
vision is:
To be the most highly valued business by: the customers we serve, the communities in which we
operate, our loyal and committed colleagues and of course, our shareholders.
Tescos vision has five elements which describes the sort of company it aspires to be. These are
to be:
wanted and needed around the world
a growing business, full of opportunities
modern, innovative and full of ideas
winners locally whilst applying our skills globally
inspiring, earning trust and loyalty from customers, our colleagues and communities.
The vision, mission statement and goals are interrelated and state what an organization is seeking
to achieve whereas the strategies and tactics show how it will achieve them. Tescos core
purpose (mission) is simple:
We make what matters better, together.
Once aims are established, functional areas within a business then devise department-based
strategies to ensure goals are achieved. The vision drives the business and the values are
embedded throughout the strategic planning process.
Whilst a vision outlines the aspirations of senior managers, a mission statement is a general
expression of the overall purpose of the business. It communicates the goals of a company to all
stakeholders. The vision should inspire all stakeholders and motivate employees towards
achieving its stated objectives. If well prepared, it should convince customers, suppliers and
external stakeholders of its sincerity and commitment to them.
Tescos management recognize the key role that its mission, vision and strategies play in its
success and use a range of key performance indicators (KPIs) to monitor and evaluate its
performance.
Chapter 1 Organizational values and business ethics
Values
Tesco have is known to be one of the famous international brand in the world with almost 7000
stores operating around the globe. Hence, they have to keep up with the fast pace business in
order to get business going. Therefore, every employee are obliged to follow Tescos values
which are based on a number of core beliefs:
Improving lives through commerce
Helping people to help themselves
Building partnerships based on shared, traceable standards with our suppliers
Continuously monitoring and reducing our environmental impact
But beliefs mean little without actions. In order to achieve their aims, they have set targets and
partnered with national and international programmes that help them work more closely with
their suppliers and other brands.
Organizational ethics
Tesco aims to delight their customers with the quality of their goods and products from their
suppliers which they have partnered. Since Tesco is known to be a global brand, the organization
aims to be a force for change in reducing their social and environmental impact and confronting
head on challenges in the industry now and in the future.
Ethics and environmental issues are as important they are to their customers, which is why the
organization have made social and environmental targets integral to the way they work. Hence,
the organizational ethics towards the environment can be seen by when the company initiated a
few initiatives as follows:
No plastic bags on every Saturday
Recycling the hangers in the stores
Use recycled materials for their products
Used recycled cottons for their products
All these initiatives are the few steps Tesco has approached in order to achieve their goal which
are increasing carbon, water and waste reduction. Other organizational ethics the company
obeyed are:
Organizational ethics towards customers:
Encourage customers to donate recycle clothes during the Breast Cancer Awareness
programme
Selling fresh products with the most affordable price
Encouraging low process goods
Organizational ethics towards partners:
Sustaining long term partnership with partners around the globe
Improving partners investments
Creating more job opportunities
Chapter 2 Management environment and organizational culture
Being considered as the biggest retail chain store business in Great Britain, Tesco emerges
with a mission of ensuring a long lasting loyalty from the costumers by creating values for them.
Tesco Incorporated relies on two major business decisions in which the first one is treating the
costumers in a way that someone wants to be treated and the second one is to always try and be
soft to the costumers .Tesco was built with an objective that based on the philosophical thought,
the effectiveness and efficiency of the business is determined by the customers. Behind a
successful business, there is a great leader. One must have a strong vision in directing a company
towards a strategic organizational change. An exceptional leader focuses more on the costumers
and at the same time recognizes the close link between employees and customers. A philosophy
in which a well-treated employee who enhances the quality of the production is applied in running
Tesco.
The management of the company is based on organizational structure that consists of five
functional departments classified as finance, administration, human resource, marketing as well as
research and development. Managed differently, each department has its own distinct offices
which are separated from each other. Tesco fully utilizes the concept of management to achieve
the time-bound objective which is dependent on the performance appraisal of the employees. There
is a difference between management and leadership such that management is described as the act
of ensuring that things are done correctly while leadership is an act of inspiring the employees to
ensure a good working environment is created. Both would enhance the production and quality
services. However, there is a link between management and leadership of Tesco which in both
scenarios performance appraisal is constantly carried out. In leadership, the aim is to reward the
best performing employee which in turn motivates the rest of the employees to work harder
towards success. Meanwhile, employees performance are constantly monitored via supervision
to ensure that those employees who are not performing to the expected standards are dismissed. In
alternative, an induced training and development programs within the company can be organized
to improve the performance.
The culture of Tesco Company is market oriented which means that regardless of the
strains faced throughout the operation of Tesco, the value of respect, integrity and responsibility
are still maintained. In the real sense, corporate social responsibility is highly taken into
consideration as it is believed that all stake holders are paramount to the business success. Since
the costumers are the key to business success, it is crucial to approach them softly.
Chapter 3 Decision making styles and contemporary issues indecision making
Tesco is the one of the largest retailers in the world. Tesco is controlled under the
administration of many skilled people who are the best in the industry field. As it was into various
categories of business like food items, electronics, furniture, clothing, books retailing and many
more, different group in the company were developed to handle the organization of the Tesco.
Although Tesco created coordination among staff and different teams by storing management and
leaders, few group coordination problems occurred. Different managers handle the problems in
different ways by their own skills. Letting the team members to decide a solution is for a problem
is the decision making styles. The kind of approach will motivate the team members and provide
a positive result to Tesco.
Decision making style in Tesco were divided into two part which is autocratic approach
and democratic approach. Autocratic approach is a decision making completely in the hands of
manager while democratic approach is the type of decision making which asking for the team
members opinions while taking a decision are the two important leaderships styles in decision
making process. Usually Tesco managers used both of the decision making approaches. Tesco also
uses Critical Success factor which can guides the team members towards team work and customer
focus.
Furthermore, decision making is one of the important process in the organization to be
executed by all managers. In Tesco, managers value the team members opinion, decision and
suggestions within agreed boundaries. To continued growth in work was very important to
motivate the employees. Managers in Tesco always make right decision and motivated their staff
or employees by providing the opportunity to learn new things every day and increase job
satisfaction through various rewards, incentives and proper recognition. Standard of working will
be improved if the right decision making by the managers in order to meet the product quality and
to satisfy the customers more effectively.
The success decision making in Tesco is when they started introduce Tesco Club Card and
customer loyalty program. Today, Tesco Club is one of the most victorious loyalty programs in
the past ten years. Tesco Club Card will give the benefit to the customers who always spend or
shopping with Tesco. Cards holders can receive extra points and also can get special offers from
Tesco. This success program cannot be realized without right decision styles and cooperation
between employees in the Tesco organization. The decision making in Tesco is sets out just the
skills and competencies but also the personal characteristics and behaviours it expects of its
leaders. Tesco looks for managers who are confident, genuine and positive with the capacity to
inspire and encourage their team members. A key part of Tescos programme is their leaders or
managers who always encouraging self-review and reflection in the Tesco organization. This will
allows staff or employees to assess their strengths and find the ways of demonstrating the
characteristics that are vital for the long term development of the business.
Chapter 4 Planning strategies and process
Strategic Planning is a process to ensure that your organization will give you good profit
results and be able to maintain its output. This process is very important in every organization as
it can give you a clear vision of your organization will be within five or then year or even fifteen
years ahead and it can also help to answer the common question in every organization which is,
how do we achieve our goals. This systematic planning process consist of a number of steps that
identify the current status of an organization, including its mission, vision for the future operating
values, needs (strengths, weakness and opportunities and threats), goals, prioritized actions and
strategies and monitoring plans.
Strategic Planning is the milestone of every organization. Without strategic planning, the
organization can never know what is going on where they are. All the member of that organization
work together to ensure the teams goal is met. An organization work with the team members, the
board of director and professional management staff. All the members of the organization work
like part of the team as players.
Tesco as a Leading Organization
Tesco is the biggest supermarket in United Kingdom. The Tesco strategy up to this time
was encapsulated by the title of Cohens autobiography, Pile it high and sell it cheap, but the
increasing demand of the consumer and the changing needs meant the Tesco altered its approach
and they planned to expand out of the town stores with more attractive interiors. Refurbishment
was also carried out in the existing stores. Tesco started to sell petrol in some of his store and give
a good competition to its competitor. It was about 1 billion Euro turnover level in 1979.
In 1980, the growth of new stores developed a good communication by using new
technology. In 1985, Tesco announced its Healthy Eating options with nutritional information and
also introduce its own branded foods. This was the new concept to introduce their new product.
Soon they started to overtake other supermarkets. The aim of Tesco is to satisfy customer need in
a single store and building customer loyalty. A range of new services and facilities were
introduced, including Tesco Metro, a store concept aimed at the high streets customer but offerings
the benefit of a large supermarket.
During the 1970s, Tescos customer began to look at Tesco for quality and choice, but soon
Tesco feel fail to satisfy customers need. In fact, in early 1980, Tesco looked like winding up.
Consumers had negative image of Tesco in there mind, which almost exclusively on price was
maintained poorly in the store and also assortment of poor quality items reinforced this general
perception.
Tesco Place is an UK-based international grocery and general merchandising retail chain.
At the time is the largest British retailer by both global sales and domestic market share, it is the
third grocery retailer in the world and also forth largest retailer behind Wal-mart of the United
State.
In 2007, Tesco change their strategy now they controls just over 30% of the grocery market
in the UK, approximate to the combined market share of its closest rivals, Asda and Sainsburys.
The supermarket chain of Tesco was now around over 2.5 billion euros in profits. After
specializing in food market, they diversified into areas such as discount clothes, consumer
electronics, selling and renting DVDs, compact discs and music downloads, internet service
consumer telecoms, this time they entered from food market to housing market, with a self-
advertising website called Tesco Property Market.
Latest News for Tesco Performance
In April 2017, Tesco has reported a 1.28bn annual profit, narrowly beating analyst
expectations after a tumultuous few years. The retailer on Wednesday said that group sales for the
2016/2017 financial year rose 4.3 per cent to 49.9bn and in the UK, like-for-like sales added 0.9
per cent, meaning the company had its first full year of growth since the 2009/2010 period.
In January Tesco announced its intention to merge with wholesaler Booker in a 3.7bn deal
that would create Britains leading food business. Several major shareholders have publicly spoken
out against the proposed deal, but on Wednesday Mr Lewis underscored the benefits that he sees
in a tie-up, saying that a deal would bring together two complementary businesses, driving
additional value for shareholders by realising substantial synergies and enabling us to access the
faster-growing out of home food market.
Strategies of Tesco
Tesco make a strategy to increase his business with four parts of strategy (a strong UK core
business, non-profit, retailing services and international) by keeping their focus on trying to
improve what we do for consumers as bellows:
Try to make consumer shopping trips as easy as possible.
Try to reduce the prices to help those people who cannot spend more.
Offering good facilities to every store either large or small stores.
Providing the consumers good saving offers and increase them to but more.
In 1977, Tesco launched Operation Checkout which saw it abandon green Shield stamp in
favour of cutting prices and centralized buying for all these stores. This gives them a positive
result of rise in market share of 4% in two months (Tesco Final).
Overview
Strategic planning is very important in any business organization. It is very hard to run any
business without a decided plan. It gives us a vision and mission for our future. But it should be
for not than five years. Tesco strategic planning has help them to get to globalization and expand
of its business in the United State Strategy plan need some special skill because a single mistake
can lead to a delay in work about one week or even a month. The best way to run a good project
divides work in some small goals so that it helps in problem solving.
Chapter 5 Organizational Structure and organizational design
The structure of an organization depends on its size, the sector it operates in public,
private, or third sector. For example, number of employees, physical resources and voluntary or
charitable. There are six basic elements of organizational structure: authority and responsibility,
centralization versus decentralization, departmentalization, formalization, work specialization
and span of control (Robbins, Coulter, & DeCenzo, 2017).
Tesco is already at its own level in the business. The company able to analyze the demand in the
market and add them into their plans, which leads to their achievement. The achievement only
can be obtain by a systematic organizational structure and design.
Figure 1 Tesco Corporate Governance Structure
Figure 1 illustrates the structure of Tesco Corporate Governance worldwide. The organizational
structure is highly hierarchical reflecting the large size of the business. Tesco Corporate
Governance consists of Tesco PLC Board, and the committees which handles their own
department, such as audit, nomination, and disclosure. There is a clear line of authority between
Tesco PLC Board with the committees.
In term of Tesco organizational structure at store level, there are four layers of management in.
Figure 2 below shows a common organizational structure for Tesco store such as Metro, Superstore
and Extra formats. Regional Manager is the higher position in the structure followed by the Store
Manager. Store Manager is helped by three manager that are divided into three different
department which are food trading, non-food trading and personnel. However, the structure below
is not rigid for all Tesco stores. Bureaucratic structures and cultures have been replaced with a
decentralized structure if employee participation and flexibility has to be increased. Although it
looks like Tesco practicing centralized decision authority, the company actually encourages the
employees to contribute their ideas and knowledge into company. As the location, size and other
factors are different, some stores operate with a few changes in the organizational structure.
Figure 2 Tesco organizational structure at store level
It is arguably that multiple layers of management at a store may create unnecessary bureaucracy
with a negative implications on the flow of information across the management layers. Therefore,
the senior level management needs to consider delayering opportunities by increasing the
flexibility of operations and changes within store and accelerating the flow of information via
reducing the layers of management.
Generally, following are summary of the features of organizational structure and design at Tesco,
including Tesco Malaysia:
Geographically based
Shared friendly culture
Employee empowerment is high
Decentralized structure
Decentralized decision making
Flexible work environment
Shared values and beliefs
Exhibit 1: Porters Generic Value Chain for Tesco Stores Malaysia Sdn Bhd
5. DISCUSSION
It is not coincidence for Tesco to become one of the most top grocery until today. From the
report carried out, important insights and lesson have been learned from stimuli internal and
external to the company especially in management aspects. By reflecting on these different
learning experiences, particularly when contextualised within detailed single case-level research,
various dimension of retailer has been emerged. In another term, it appeared that Tesco
concentrated their effort with more experience in management system on dissimilar markets in key
regions or clusters aiming to achieve a market leading position. One explanation for this activity
may be that the Tesco accumulated more experience from what they recognised the importance of
local scale economies for achieving profitability.
In other words, the decision making that make on selecting a particular market may depend
as much on the availability of suitable acquisition targets and the conditions of potential sellers as
it does on the attractiveness of the market. According to their manager, market selection was thus
entangled with entry mode choice. Provably, acquisition-driven expansion had been a form of both
management and the financial institutions partisan to acquisition rationalise the acquisition after it
is accepted by other company. Market selection decision also mirrored this opportunistically-
driven behaviour. In that respect, the main lesson that Tesco have learned is that they must be in
the position to quickly take much more advantages of unexpected events or opportunities that have
coming. How Tesco dealt with unexpected successes, mistakes, serendipity and miscalculations
was of critical importance to the operations of succeeding.
The preceding evidence that the management of Tesco also suggests that acquisitions have
proved to be an important prism for learning. On several chances Tesco used small-scale, nothing
to lose acquisitions to reduce their own human and financial capital in the face of potential
economic and political uncertainty in developing markets and to accumulate local market
knowledge in their company. This acquisition has provided Tesco with invaluable experiential
opportunities to be surprised by the marketplace. The evidence was revealed that a willingness to
experiment and feedback input on the results from local store managers in Malaysia and expatriate
managers is a meaningful lesson.
Apart from underestimating the level of effort that required for these turnaround operations,
Tesco painfully leaned from employing an inappropriate corporate model in the market.
Effectively, Tesco have passed through a number of iterations of organisational structure before
finally adopting a hybrid structure between centralised and decentralised operations and before
ultimately adopting an aggressively become industrial model. But more importantly, the initial
experiences of Tescos control capabilities have been proved that it is impossible successfully to
adopt both corporate models simultaneously.
It was clear that from the analysis of the findings regarding learning structure and processes
is that an organisational lead learning multinational goes beyond the official corporate line that
executives may use to justify minority entry position s or failures in new markets and deliberately
establishes systematic internal management process to support the learning process. From the
project that carried out, many lessons learned by the management of the Tesco by enhancing the
adaptability and responsiveness of the company. How far Tesco could or would, apply lessons
learned from their managements and experiences for future expansion.
The organizational Structure and organizational design practiced by Tesco give a lot of
impact on its performance. First, flexible environment helps in increasing adaptability to change.
Shared culture and beliefs, increase employee loyalty towards the organization and hence, his
performance. Bureaucratic structures and cultures have been replaced with a decentralized
structure if employee participation and flexibility has to be increased. A rigid, inflexible culture
hinders growth as an individual and thus, creates employee resistance towards work. By having a
shared culture, employees are better able to understand customers. A wider span of control,
reduces the chain of commands and improves employer-employee relations. Lastly, inter-
departmental coordination is improved in a decentralized structure
6. RECOMMENDATIONS
From this project, we find out that the organization the use of strong identities of the
Value and Finest ranges (own brand value) to transfer across the store could create a better
customer experience. Tesco Stores Malaysia needs to improve in term of quality of brand
appearance. If they could create more exclusive brand image of Tesco, customer might have
good minded set of Tesco. Besides that, Tesco Stores Malaysia should applied or adopt TESCO
PLC strategy which to have an online transaction such as Tesco.com. Customer could access to
any of Tesco product online and have more information about the product before buying it. This
will totally increase the demand to shop at Tesco.
7. CONCLUSION
Tesco is one of the largest retailers in the world. This success has not come about by
chance but is the result of effective leadership and management. The setting of a clear vision is
central to Tescos success, supported by a commitment to establishing and monitoring specific
objectives and devising strategies to ensure these are achieved. All aspects of the business are
regularly monitored and, when necessary, plans are adapted to ensure targets are ultimately met.
At the heart of all Tesco does is a commitment to being a responsible retailer. This is
demonstrated through its focus on its Three Big Ambitions and The Essentials to show how it
is using its scale for good. Every decision taken considers these areas to ensure customers,
communities, suppliers and staff are treated fairly and with respect. Tescos values underpin all
that Tesco does and, in turn, keeps customers satisfied with their shopping experience and loyal
to the brand.
8. REFERENCE
[1] Robbins, S. P., Coulter, M., & Decenzo, D. A. (2017). Fundamentals of Management, 10th
Edition. Pearson Education.
[2] About Us: Tesco PLC. Retrieved from https://www.tescoplc.com/about-us/
[3] Vision, values and business strategies: A Tesco case study. Retrieved from
http://businesscasestudies.co.uk/tesco/vision-values-and-business-strategies/introduction.html
