Business Environment

Business Environment

Introduction

The two local businesses selected for this article are Tesco and Walmart. The two businesses are related to the retail industry comprising of supermarkets and wholesale markets. Tesco came into existence in 1919. It was Jack Cohen's idea that gave rise to such a huge and gigantic organization. Tesco is involved in grocery and general merchandising retailing. Tesco is considered on number three largest retailer in the world if we gauge its position in terms of revenue. First store of Tesco started its operation in 1929. Tesco is one of the companies that are listed in London Stock Exchange. Tesco has diversified both geographically and into areas such as retailing of books, clothing, electronics, furniture, finance, telecom and music download.

Wal-Mart Company operates retail stores in different formats worldwide. In United States of America, the retail formats implemented by the company include supercenters, discount stores, neighborhood markets, and Sam's Clubs. In the global arena, the company operates in El Salvador, Argentina, Canada, Chile, Brazil, China, Guatemala, Costa Rica, Honduras, Japan, Puerto Rico, Mexico, India, Nicaragua, and the United Kingdom. The company's headquarter is located in Bentonville, Arkansas. As of today, the company employs nearly 2.1 million people. Since operating in a highly competitive international market, the company is experiencing several risks, including market risk, commodity risk, foreign exchange risk and interest rate risk. Wal-Mart implemented its brand name by having a joint venture with Shenzhen International Trust and Investment Company in 1995, and kept their model as “Everyday Low Price”, but it had to become accustomed to the local environment .

Mission

Tesco's mission is to generate worth for consumers to gain their loyalty for the life time. Tesco's success is reliant on the customers and the people, the customers who do the shopping and people who are working with them. Customers are likely to return if they like what Tesco is offering them, and shop again with them. If the team finds what Tesco reward them, team work more hard to help customers.

Vision & Strategy

Tesco is a company based on customers and staff, quality properties around the world and numerous opportunities for growth. My mission is to build on these achievements for all our partners. For the future, the continuity is obvious. We have a solid strategy, a strong team, and during the most risky in terms of trade diversification is now behind us. Nevertheless, some changes are needed because we know that improvements are possible: the clients are changing, and Tesco does the same. You should also remember that the foundations of our society will remain the same: our main goal is to "create value for our customers to win their loyalty for life" and our values are "nobody made more efforts to meet the customers, and treat others as we would like to be treated.” I defined a new vision for the future of society. Tesco is considered the most valued company in the world. Appreciated not only by our customers but also by the communities we serve our ...