Types of Business:
Tesco is a for-profit business which made £1.017 billion. (https://www.tescoplc.com/news/news-releases/2017/preliminary-results-201617/ )
Tesco’s main purpose it to create value for customers to earn their lifetime loyalty. Tesco offers a wide range of products and services from groceries, household products, clothing to insurance (travel insurance).Tesco is a retailer so therefore is the tertiary sector. This activity is labelled by the Standard Industrial Classification as G46.3.
They tell us on their website that Tesco wants to become/stay the leading retail supermarket and give the people good quality service and products at cheap prices to compete with rivals.
Tesco’s PLC does not disclose its SMART information as they do not want their rivals to know if they are succeeding or not.
Tesco’s is a public limited company and ownerships owned by several partners, Tesco is owned by thousands of people this is because Tesco is a PLC and is owned by shareholder who fund the company (https://www.slideshare.net/dorcasviela/assignment-1-unit-1)
Tesco’s mission is to be the most highly valued business by the customers they serve, the communities in which they operate their loyal committed colleagues and their shareholders. (https://businesscasestudies.co.uk/tesco/vision-values-and-business-strategies/vision-and-mission.html)
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Tesco has six strategic drivers:
-A differentiated brand
-Reduce operating costs by £1.5bn
-Generate £9bn cash from operations
-Maximise the mix to achieve a 3.5% – 4.0% margin
-Maximise value from property
Tesco follows a hierarchical organizational structure. In this structure, positions and obligation are divided into many parts to ensure work will be done efficiently and smoothly. (http://www.orgcharting.com/tesco-company-organisational-structure-chart-example/)
The functions of Tesco’s finance department are:
-Recording all the business transactions
-Measuring the financial performance of Tesco
-Controlling the finances and cash flow so the company stays reliable
-Taking timely financial decisions by comparing the predicted performance with the actual performance
The functions of Tesco’s human resources department are:
-Recruiting, selecting, training and developing new staff
-Keeping all records, they have in their possession confidential
-They look after an employee whilst they work in the company
The functions of Tesco’s marketing department are:
-Researching, collecting data from surveys and questionnaires, preparing presentations informing about new developments
-They deal with customers with complaints and problems they have, evaluating service, reviving competitors, recommending improvements
-They promote and advertise, also make sure that the promotions are clear and understandable for customers
The functions of Tesco’s productions department are:
-They are responsible for making services that are provided by Tesco
-They are responsible for delivering products to customers
-They ensure that there is enough stock available
The functions of the administration department are:
-They create an ordered way of working which enables the business to function smoothly
-They bring together the various parts of the business so they can all work towards achieving the same goals
-They ensure that there is good communication between the management and the workers
-They write down all the methods and procedures in case staff is being changed
-They create proper procedures for controlling and monitoring work
Tesco is a business was built with a simple mission, to be the champion for customers, helping them to enjoy a better quality of life and an easier way of living. Customers want great products at great value which they can buy easily and it’s their job to deliver this in the right way for them.
The majority of businesses are reliant on their customers, especially retailers. If they do not develop customer loyalty there could be a decline in the number of customers they get, and this would affect Tesco massively.
Types of Business:
Oxfam is a non-profit international charity that works with businesses that are big and small to address global poverty. (https://www.slideshare.net/dorcasviela/assignment-1-unit-1 )
The main purpose of Oxfam is to deal with the injustice and poverty that is present in the modern society, they do creating lasting solutions to solve these predicaments. Oxfam is part of a global movement for change, one that empowers people to create a future that is secure, just, and free from poverty. https://www.oxfam.org/sites/www.oxfam.org/files/oxfam-purpose-and-beliefs-mar-2011.pdf
Aims and objectives:
Oxfam’s has six goals:
-Help people claim their right to a better life
-Champion equal rights for women
-Save lives, now and in the future
-Safeguard global food supplies
-Help people claim a fairer share of natural resources
-Increase money for basic services
They do not show their SMART objectives. Overall be a company presented as “nice” and really help the world
Oxfam’s mission is to: “To create lasting solutions to poverty, hunger, and social injustice.” Which they are progressively doing this. https://www.oxfamamerica.org/explore/about-oxfam/
Oxfam is an international association of 14 organisations who are the trustees of the organisation, working in 98 countries worldwide. Winifred Byanyima is the current executive director at Oxfam International. https://www.slideshare.net/dorcasviela/assignment-1-unit-1
Oxfam has put a new plan, they plan to tackle global poverty based on “people power” Oxfam has adopted a new strategic plan that shifts the focus of its work onto the empowerment of people to shape their own future free from poverty. https://www.oxfam.org/en/tags/strategic-plan
Oxfam’s organisational structure is geographical as they work around the world in and with a lot of countries helping the less fortunate. The charity is controlled and run by Winifred Byanyima the chairwoman who is in charge of a number of trustees who makes the main decisions in the company, so Oxfam structure is flat and it does not take long. https://studymoose.com/how-tesco-and-oxfam-businesses-are-organised-essay
Oxfam’s main function is fundraising so they can support the third world countries and lesser developed regions and fight against poverty.
Oxfam’s culture is moulded by the values, which reinforce what they care about and how they do things as an organisation, not just what they do. The five core values that Oxfam harbour are: Accountability, Empowerment, Equality, Inclusiveness and Sustainability. These values are what drive everything at Oxfam. https://www.oxfam.org.au/what-we-do/about-us/our-vision-values-and-goals/
The stakeholders have a large amount of influence on Oxfam. They can affect the business as a whole, its efficiency, profit, working environment and the accomplishment of the organisations aims and objectives. The organisation must acknowledge each stakeholder possible so Oxfam can reach its aims and objectives.
Tesco’s main purpose is to make a profit. The strategy that Tesco is using is suitable for the main purpose of the organisation, how the business is structured and how it functions also help the company work in the way that it needs to in order to complete its objectives. Also its culture and influences mesh well within how the organisation is.
Oxfam’s main purpose is to deal with the injustice and poverty that is present in the modern society. The culture that Oxfam harbours is the real drive and dictates how the style of the organisation is. This has dictated the organisations strategy to be a lot more positive. Also the structure and functions are even likeable and positive. The overall style makes everyone within organisation work more efficiently.
Stakeholders have an extremely big impact and influence on any business including Tesco, this is because they can affect the efficiency, growth, profits and their working environment.
Like other successful companies Tesco has its own stakeholder group.