INTERNATIONAL BUSINESS

International Business

International Business

Introduction

The purpose of this paper is to enlighten and explore globalization in a holistic manner. This paper aims to explore diverse dimensions of globalization and its impact on Tesco (U.K based retail giant). This paper enlightens the changes that have been brought to the retail industry of the United Kingdom and the strategies constructed by Tesco to cope with the market's changing dimensions. The term Globalization is broadly used as the process through which an ever-expanding free flow of goods, services, capital, peoples, and social customs leads to further integration of economies and societies worldwide. This phenomenon is hardly novel, albeit the process of integration has dramatically accelerated over the past few decades. The world has experienced successive waves of globalization.

Tesco is the most recognizable name in the retail industry as it is counted in one of the leading food retailers in U.K, an estimated 15.5% share of the total market. Tesco is also designed to increase their share of non-market. The two most important factors for the success of Tesco in listening are to customers and learning from mistakes. Offering quality products at low prices and put local people first in the way they conduct their business as their main strategy. The British supermarket company Tesco is now the fourth largest retail chain in the world, employing 450 000 people and has a growth rate of 13% annually. However, things were not always smooth sailing for the big retail in 1992 was forced to shift its strategy, focusing squarely on the shopper.

It all began in 1919 when Jack Cohen founded the first store in London Tesco, dedicated to the sale of surplus production. Ten years later, opened its doors the first branch. In 1961, the establishment in Leicester Tesco made its official entry into the Guinness Book of Records as the largest retailer in Europe dedicated to the final consumer. However, in the early 90's changed the outlook for Tesco. He was in a highly developed industry and saturated, in a country with declining population, under the eaves of a tough leader, and Sainsbury, and threatened by the strong arrival of Wall mart and new store formats with tempting discounts. Despite this frightening scenario, in recent years Tesco has never stopped growing.

Impact of Globalization on Tesco

Tesco is also involved in the Global Social Compliance Program (Global Social Compliance, GSCP), an initiative of distribution groups, which involves Carrefour. Created in 2006, the GSCP is to converge in terms of their supply chain standards for social audits, share best practices and contribute to the improvement of working conditions. The platform intends to issue a single message, consistent and shared based on ILO standards and the UN to all suppliers. She met 26 companies including Carrefour. GSCP's Advisory Council is composed of the International Federation of Human Rights, the UNI Commerce, CSR Asia and, the UN Office for International Partnerships. Although this initiative is not underground, it remains unknown to the public (Duffy, Hooper, 2003, ...