Tesco is a world famous public limited company which was established in 1919 in East London by Jack Cohen. Currently Tesco has expanded its operations in 14 countries (China, Czech Republic,Â Hungary, India, Japan, Malaysia, Poland, Republic of Ireland, Slovakia, South Korea, Thailand, Turkey, UK, USA) with a work force of 472,000 and 5,008 store world wide. The mission of Tesco defines the main purpose of the organization.
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As per Tesco the mission of Tesco is to create value for customers to earn their lifetime loyalty. The values of Tesco mainly focus on the employees and the customers. They have identified that the success of the organization depends on the people who shops and people who works at Tesco. This is how Tesco defines its values. No one tries harder for customers: Understand customers. Be the first to meet their needs. Act responsibly for our communities. Treat people as we like to be treated: Work as a team. Trust and respect each other. Listen, Support and say thank you. Share knowledge and experience. ….so we can enjoy our work. Tesco has also specified how they are going to achieve the goals they value. This method is called every little helps. EVERY LITTLE HELPS Other characteristics underlying Tesco success is its four parts strategy: To be as strong in non-food as in food To maintain a strong core UK business To develop retailing service To become a successful international retailer Customers have heavily influenced Tesco’s mission and values. Tesco has gathered vital through feedbacks and customers surveys, implemented adequate strategies to fully satisfy its customers.
stakeholders. Stakeholders are the parties which are affected by the business. Regardless of the results, they can also make an impact on the organization. So it is necessary to identify and satisfy the needs of the stakeholders. In an organization employees plays a major role. One could consider that they are the most important stakeholder of the business which is correct up to some extent. It is said that a happy employee is more loyal and contributes more to the productivity of an organization. So it essential that they feel rewarded for the work the do. From employees point of view they expect a good basic salary and a fair overtime pay. The policy for the basic salary in Tesco is that an employee should receive 30% more than the poverty line index. In countries like Malaysia there is no pre specified legal minimum wage, but the same policy is followed in Malaysia to make sure all employees get paid fairly. Also Tesco gives its employees the opportunity to experience their brand. For example Tesco Mobile provides discounts to their employees and Tesco bank offers special on Home Insurance,
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