Background to Tescos
Tesco’s is a multinational grocery and general merchandise retailer. They are the second largest retailer in the world measured by profits and revenues. Tesco’s was founded in 1919 by Jack Cohen and its first store was opened in 1929. Tesco is a company built around customers and colleagues, high-quality assets around the world and multiple opportunities for growth. They are a tertiary business as they sell products and they run to make a profit. Tesco’s are public owned limited company (plc) as they have they’re shares bought and sold on the stock exchange.
They are the leading grocery market in the UK and have stores in 12 different countries across Europe, Asia and North America. They currently have a chain of 7,305 stores worldwide and have 500,000+ colleagues.
Main goals and purpose:
Tesco’s say their Core Purpose ‘needs to reflect how much society has changed in recent years – more scepticism about corporations, more desire to see business demonstrate it has a purpose beyond profit, a sense that large companies should be contributing more to tackling some of the big challenges. We make what matters better, together. It is true to where we came from but more relevant to today and to the kind of company we want to be.’
The main shareholders for Tesco’s are Barclays Global Investors, Legal and General and Schroder Investment Mgt Ltd. The main stakeholders for Tesco’s are customers, government, shareholders, employees, suppliers and managers. Customers want a company that produces high quality, value for money products and suppliers want steady orders and prompt payment. They also want to feel valued by the company that they supply.
Cancer Research UK are the world’s leading charity dedicated to beating cancer through research. They have saved millions of lives by discovering new ways to prevent, diagnose and treat cancer. They fund research into more than 200 types of cancer which is carried out in institutes, universities and hospitals all across the UK. The organization was formed in February 2002 by the merger of The Cancer Research Campaign and the Imperial Cancer Research Fund. They also provide information about cancer and they run campaigns aimed at raising awareness of the…