TESCO PLC

Tesco Plc



Tesco Plc

Introduction

The company that I have chosen to conduct strategic analysis is Tesco. Tesco PLC (Public, LON: TSCO) is an international seller. The company is engaged in retail and related activities in the United Kingdom, the Republic of Ireland, Hungary, Poland, the Czech Republic, Slovakia, Turkey, Thailand, South Korea, Malaysia, Japan, China, and the United States (Turner & Wilson 2006, Pp. 14-34). The company also provides retail banking and insurance services through its subsidiary of Tesco Personal Finance PLC (formerly Tesco Personal Finance Group Limited) (FPT). The company has two business segments, retail and financial services. Services of retail channels include online shopping company, tesco.com and Tesco Direct, Telecommunications, Tesco Personal Finance (TPF), and business consumer research. Today it is the third largest global retailer based on revenue, behind Wal-Mart and French Carrefour, but the second largest based on profit, ahead of Carrefour. In 1919, Tesco Plc was established by Jack Cohen, by utilizing the bonus which he achieved for his services in the World War I army. Then in 1924, he purchased a tea consignment from the company TE Stock well. He decided to put the initial three alphabets of TE Stock well, and the initials of his name Cohen collectively to name his brand 'TESCO'. In 1929, Cohen opened the very first Tesco store in Edgware, London (Hackney, Grant & Birtwistle 2006, Pp. 66-98). Originally, Cohen's formulated the strategy of "Piling it high, selling it cheap". Tesco has been one of the largest food retailers in the UK and already enjoys significant benefits with an established customer base. The company has increased focus on fresh food and its quality. Improved technical standards, additional specialist staff training, closer relationships with suppliers and significant changes to merchandising strategy of some key products are helping to deliver a ...