Management in Tesco Essay
Tests introduced the concept of the superstore in 1967 when it opened a 90,000 square feet store in Westerly, Wiltshire. The ‘superstore’ was a new concept in retailing and the term was first used when Tests opened its store in Crawler, West Sussex, in 1968. SASS By 1970, Tests was a household name, Its reputation built on providing basic groceries at very competitive prices. But as people become better off, they looked for more expensive luxury Items. In the late sass the company decided to make Its stores more attractive to a wider range of customers.
Tests Introduced more superstores, which sold a broader range of goods, and had wider aisles and better 12% and, in 1979, its annual turnover reached E 1 billion for the first time. SASS During the sass, Tests continued to build new superstores, opening its 10th in 1985. In 1987 it announced a E 500 million programmer to build another 29 stores. By 1991, the popularity of Tests petrol filling stations at its superstores had made the company Britain’s biggest independent petrol retailer. In 1985 Tests introduced its Healthy Eating initiative.
Its own-brand products carried nutritional advice and many were branded with the Healthy Eating symbol. The
Need essay sample on "Management in Tesco"? We will write a custom essay sample specifically for you for only $ 13.90/page
In August 2003, Personal Finance had more than 4 million customer accounts, and delivered a profit of E mom in the first half. SASS Tests now has 2,291 stores around the world and about 300,000 employees. The organization has grown from a purely I-J operation, developing international markets in Ireland, Central Europe and Asia. Today, there are four strands to Deco’s strategy: ore I-J business, non-food, retailing services (personal finance and online grocery sales) and international. Tests is one of the best-known names in the high street.
It is a large public limited company (pal) with approximately 165 000 shareholders. By 1995, Tests had become the largest food retailer in the I-J, overtaking Sunburst’s. The company operates over 800 stores throughout Europe. After serving in the First World War, Jack Cohen used his savings and started selling groceries in London East End markets. Tests was founded in 1924. The name was based on the initials of T E Stockpile, a partner in a rim of tea suppliers, and the first two letters of Cohen. In 1929, the first store was opened in Geared, North London.
The business prospered and, in 1947, Tests supermarket was opened. Apart from opening new stores, Tests has expanded by taking over other businesses. For example, in 1992, it bought 57 William Low stores in Scotland and, in 1997; it purchased 109 stores in Northern Ireland and the Republic of Ireland from ABA pie. Tests is an ambitious company with plans to open more new stores in the United Kingdom (I-J). However, in recent years, a major part of the firm’s strategy has been to open stores in other European countries.