About Tesco PLC
In terms of shaping business opportunities, it can be stated that basically, business opportunities involve leasing or selling the product, equipment and service at the same time. As such, it enables the licence of the purchaser in order to start a business. Some previous research has argued that in regard to a global brand, it is evident that taking the pathway of entrepreneurship, the significant indicator for future entrepreneurship, considers the skill to find out a business opportunity. On that note, the cognitive, as well as the knowledge, is considered as necessary as it helps to value the knowledge for identifying the new opportunity. This basically allows the movement towards validation and the scoping at the same time. The current study aims to discuss the shaping business opportunities of Tesco PLC. Discussing its success factors as a global brand, the study will analyse the ethical consideration as well as the post COVID challenges and the opportunities.
1. Name the global organisation and briefly describe its products and activities
Tesco Plc is a British multinational firm that basically acts as groceries as well as the general retailer of merchandisers. The concerned firm is among the top leading retailers across the globe, having a shop in several counties. In terms of its background, it can be stated that the organisation was founded in the year 1919 and named as Tesco in 1924 (Tescoplc.com 2022). By the end of 1939, its business got expanded, and it became a global brand in the late 1990s.
In relation to its products and the services, it can be stated that the concerned firm has been diversified its products globally considering the areas of software, petrol, toys, furniture, electronics, clothing, books, telecoms, financial services and the internet services. It is worth to mention that Tesco plc repositioned itself from being the high volume of its downmarket to its low-cost retailer (Tescoplc.com 2022). Herein it is noteworthy that Tesco attempted to attract a broad range of social groups by having a low-cost value range.
2. What does it mean to be a global organisation? Why is your chosen organisation global?
In terms of the global organisation, it can be stated that the organisations that are consisted of the global alliance and involve in several counties known as a global organisations. On that note, Tesco is considered as a global organisation as it has been expanded its business more than 10 years ago, and currently, it has outlets in several counties in Asia and Europe (Rosnizam et al. 2020). It is worth to mention that currently, Tesco plc has maximum exports outside of the UK, especially the counties that range from Thailand to Turkey and then China.
Based on this fact, the approach of Contingency Theory can be mentioned here, following which Tesco Plc has been persuading its customers to get compiled with the small as well as harmless requests to increase the likelihood of complying with the subsequent request (Wood, Wrigley and Coe 2017).
3. There are many factors that could trigger an organisation to expand across international boundaries. Discuss these factors and link your discussion to your chosen organisation
For the chosen organisation, the following factors have been identified that trigger its expansion to the international boundaries.
The poor supply chain of Tesco: Due to the poor supply chain, Tesco fails to span over its international borders. As for example, it has been evident that while sipping its goods outside of the UK, Tesco needs to deal with both time and the cost and stuck into the risk of the environmental factors (Chowdhury 2016).
Factors triggering Tesco’s expansion
On-boarding and talent acquisition: For Tesco, there is the scope of poor retention as well as acquisition the talent while getting expand over the international context. As for example, in the concerned organisation, the hierarchical department faces issues with hiring the staff on the ground (Woods 2022). As such, they fail to involve a proper as well as a unique process of on-boarding, which leads to difficulty in this regard.
Issues in compliance: Another factor that has been identified in this regard is the issues of compliance for the expansion of the business across the globe. As such, Tesco has faced issues in the area of tax and compliance. As the concerned firm operates in several countries, therefore, therefore, dealing with the fees, taxes, and the tariffs of trading have been led to obstacles in regard to its operational compliances (Johnson et al. 2018).
4. Discuss the main success factors of the global brand. What is its marketing strategy, competitors and competitive advantage?
The key success factors of a global brand could be the knowledge about its target audience, strong value proposition and observable passion. For Tesco plc, it is evident that it is well aware of its both new and existing target customers. By understanding its target customers, Tesco Plc aims to be more exact by understanding the needs and the preference of its target customers (Student 2021). Also, it is evident that the concerned firm has a unique as well as strong value proposition with which the hierarchical department of Tesco Plc can make a clear statement regarding the additional benefits of its products. Such factors help in its growth of business as well.
Marketing Strategy: The main marketing strategy of Tesco Plc is creating its new product lines. Following this strategy, it is evident that the concerned firm has reviewed its marketing mix along with launching the new line of the new brand of the firm. It is noteworthy that the rebranding of its products in a dramatic way, such as fruit, pork, fish, and beef, firm appeals to the const conscious customers who earlier failed to value the offerings of Tesco.
Competition: Key competitors of Tesco Plc are ASDA, Sainsbury and Morrison, which are known as the big found in the context of the UK.
Competitive advantages: Tesco can make pricing of their products in a competitive way. As such, it has the ability to control operating costs following the theory of cost leadership (Joy 2020). Also, the firm is able to price its products by generating high margins of profits.
5. Discuss the concept of globalisation vs customisation and the measures taken by the global brand to recognise that offerings and communication should be adapted to local preferences and conditions
Globalisation vs customisation: As for discussing the concerned concept, it can be stated that the approach of globalisation tends to implement some similar marketing strategies based on the operation of the firm in the context of the global market (Wu 2022). On the other hand, the approach of customisation tends to build the ways of separating marketing for the settings of various marketing.
Measurement by Tesco Plc: Tesco plc utilised the communication theory considering that the firm offers a strong way of interacting with its customers. Also, the concerned firm considers the said theory as navigable and as a tool to answer the practical, conceptual and empirical questions of its customers. It is noteworthy that following the approach of this theory, Tesco plc opts for both faces to face communication and the e-mails by which it communicates the future plans as well as the development with its customers (Field 2016).
6. Discuss the ethical considerations for the global organisation
Key success factors of Tesco
Tesco plc basically focuses on the community plan for each country it operates. As such, following the approach of social contract theory, Tesco makes its agreements for establishing its political as well as the moral rules to behaviour. As for example, the activities of the hierarchical department of Tesco actively supports the local community, sell and buy products, cares for the environment, provide healthy choice to its customers and provide better employment for the domestic people (Vu 2016).
7. Discuss the post-COVID-19 challenges and opportunities for the organisation
In terms of challenges, it is evident that Tesco faced issues in implementing the vast operational change in a rapid manner. As such, during the peak of the coronavirus crisis herein, the concerned firm recruited apex fifty thousand new employees on a temporary basis in order to make its operation a successful manner (ICAEW Insights 2020). On the other hand, in terms of opportunity, it can be stated that the additional cost of Tesco fostered and embraced a broad sale. As such, the business of Tesco got explored in a wide manner and ensured a disciplined approach to cash and cost during post COVID scenario.
Conclusion
It can be concluded that, essentially, business prospects entail simultaneously leasing or selling a product, equipment, and service for Tesco. As a result, the purchaser’s licence to establish the concerned firm is enabled. According to prior discussion, when it comes to a worldwide brand, it is clear that in pursuing the route of entrepreneurship, one of the most important indications for future entrepreneurship is the ability to see its business potential. On that basis, both cognitive and knowledge skills are regarded vital since they aid in valuing knowledge and recognising new opportunities. This essentially enables for both validation and scoping to happen at the same time.
References
Chowdhury, B.N., 2016. A critical analysis of customer loyalty and customer satisfaction a case study on Tesco Club Card (Doctoral dissertation, University of East London).
Field, D., 2016. CUSTOMER PERCEPTION IMPACT ON BRAND LOYALTY WITH RESPECT TO CSR. A CASE STUDY OF TESCO.
ICAEW Insights, 2020. Adapting to COVID-19: the Tesco story. Icaew.com. Available at: <https://www.icaew.com/insights/interviews-and-profiles/2020/july-2020/adapting-to-covid19-the-tesco-story> [Accessed 22 April 2022].
Johnson, S., Robertson, I., Cooper, C.L., Dickinson, J. and Jones, N., 2018. Tesco Bank Wellbeing Case Study. In WELL-BEING (pp. 179-188). Palgrave Macmillan, Cham.
Joy, J., 2020. Implication of the cyber threats and its issues in the business process organisation; A case study of Tesco.
Rosnizam, M.R.A.B., Kee, D.M.H., Akhir, M.E.H.B.M., Shahqira, M., Yusoff, M.A.H.B.M., Budiman, R.S. and Alajmi, A.M., 2020. Market opportunities and challenges: A case study of Tesco. Journal of the Community Development in Asia (JCDA), 3(2), pp.18-27.
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Tescoplc.com, 2022. About Us. Available at: <https://www.tescoplc.com/about/> [Accessed 22 April 2022].
Vu, M., 2016. IS THE BALANCED SCORECARD USEFUL IN A COMPETITIVE INDUSTRY?: Using Tesco PLC as a case study in the UK grocery retail industry.
Wood, S., Wrigley, N. and Coe, N.M., 2017. Capital discipline and financial market relations in retail globalisation: insights from the case of Tesco plc. Journal of Economic Geography, 17(1), pp.31-57.
Woods, M., 2022. Risk management in organisations: An integrated case study approach. Routledge.
Wu, Y., 2022, March. The Differences Between Globalization and Customized Marketing Strategies-Take KFC and McDonald’s in China as an example. In 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) (pp. 2371-2375). Atlantis Press.
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