TESCO Essay Example | Topics and Well Written Essays - 3000 words

TESCO - Essay Example It makes available online services via its subsidiary called Tesco.com. The United Kingdom constitutes the company’s major market where it is run under four banners of Superstore, Extra, Express, and Metro. The corporation sells approximately 40,000 foodstuffs. The business’ own-label merchandise (50 percent of sales) exist at three levels including, normal, value, and finest. On top of convenience produce, countless stores have gas refilling stations, making Tesco to be one of United Kingdom’s independent and largest petrol retailers. Other vending services obtainable include Tesco Individual Finance (Palmer 2005, pp. 24). Vision statement A strategic vision statement describes the course a business intends to follow during the development and strengthening its operations. It sets out the company’s strategic route in getting ready for the future. Tesco’s vision is to be the largely valued corporation by customers, the surrounding community, the emp loyees as well as other stakeholders that the company works together with while doing business. It envisions itself as an expanding company that succeeds locally while employing its skills globally (Hammett & McMeikan 1994, pp. 4). Mission statement A mission statement ascertains the general intention of a business. It assists employees to work towards realizing a common purpose. Tesco’s mission statement is to generate value for its customers for it to earn their unending loyalty. To ensure that Tesco achieves this mission statement, the company needs to be acquainted with who their devoted customers are. It is this reason that has prompted Tesco to launch a Clubcard service, via which the company can award customers by issuing them with special tickets and additional points (Hammett & McMeikan 1994, pp. 5). Corporate objectives Objectives refer to business’ performance targets – that is, the results management wishes to achieve. They act as yardsticks for asse ssing how well the company is doing. Tesco’s objectives include the following: bidding customers the most excellent value for their money at the most reasonable prices; meeting customer needs by continually seeking, and implementing their views regarding product quality, innovation, store facilities choice, and service; providing stockholders with better returns on their funds; improving productivity through implementing investments in distribution depots and efficient stores, in productivity enhancements and in new technologies; developing peoples’ talents through effective management and education practices, while remunerating them fairly with equivalent opportunities for everybody; working hand in hand with suppliers with the aim of building long-term business associations based strictly on quality as well as price criteria; taking part in the crafting of national food manufacturing policies on vital issues such as hygiene, health, safety, nutrition, and animal well being; and supporting the best interests of the society and the safeguarding of the environment (Hammett & McMeikan 1994, pp. 5). Goals The organization is focused on achievement of certain degrees of its activities in a bid to maintain their full realizable potential. There first goal is growth in the local scene in a bid to realize the firm’s limits. The second goal is to come into to terms with the international market and the