Example Of Report On A Case Study Of Tesco

Introduction

Tesco PLC has its location based in Britain, and it deals with grocery and other merchandise retailed products. The company has its headquarters based in Cheshunt, Hertfordshire in England. As a company, the market ranks it as the third largest profit making Retail Company in the world. In terms of revenue, it tops on the second position. The company possesses affiliated stores found in 12 countries both in Europe and Asia. In the United Kingdom, the company owns 30% grocery market share. Tesco finds its inception from 1919 with the founder being Jack Cohen. The company operates four major store brands in the United Kingdom. They include Superstore, Extra, Express, and Metro. Since 1924, Tesco has hired more than 200, 000 employees. With the establishment of Tesco, the company expanded to more than 100 stores in the whole country after 1939 (Andrew, 2007). Tesco entered Stock Exchange in London in 1947. Apart from retail services, Tesco opened supermarkets to serve the huge growing population in England.

Literature review and challenges affecting Tesco

The retail market has gone through many changes in England and Europe as large. The changes in the market have caused a number of difficulties in the operation of Tesco. The challenges have changed over time due to the effects of globalization and economic crisis. Customer satisfaction has proved itself as the first problem affecting the company. The market receives domination from the usage of internet and technology equipment like smartphones. Technology has diversified consumer spending behavior (Hart, 2003). Customers have developed a sense of fashion which influences the mystique nature of the market to fall. Large retailers like Tesco have had problems reacting to the interests of the consumers. Rent in the United Kingdoms has increased since 2012. Tesco has problems dealing with the rents of its major store outlets in the country since they keep on climbing. Due to the urge to obtain market, the location has proved to have importance towards Tesco. Tesco spends many millions of pounds to have its stores in Regent Street area. Tesco has also experienced challenges through its expansion strategy. The company finds it hard adapting to new markets. The company has had infrastructural and marketing analysis of the American market as it bought shares in the American grocery retail market. Tesco experiences competition from the local grocery retail firms and products pricing in America and the countries they have operate.
The company has also experienced challenges coming up with desirable pricing for its products in its market. Consumers have a keen perception of the products they purchase online and offline. Such situations have influenced Tesco to have problems changing its price listing most of the time. Retail companies relative to fashion like Primark and H&M have created a diversified platform for competition against Tesco (Bethany, 2006). Tesco has experienced difficulties carrying out the correct assortment to attract its customers and reduce competition levied by other retail firms in the United Kingdoms. The country experiences harsh weather patterns like winter. In the cold weather, the company needs to come with the correct products for its consumers to sort their needs. The products need to go with the changing market and the trending consumers’ needs. The company has challenges to deal with the trending market since it has to undertake continuous research to develop an understanding of its methodology.

Implementation of change process

Tesco operates with the mission of customer satisfaction. It works to enhance the loyalty of its customer in its line of products through value creation. It has an urge to possess a post-modern and a platform full of innovation and continuous growth. Tesco has a vision to apply its various unique services to attract customers locally and create a huge desirable international market in the areas of its expansion. The company does not fail to inculcate its staff in its developmental goals. It has developed a methodology through which it ensures that the staff receives motivation to achieve personal targets. The company motivates them through a series of benefits and remuneration processes. They have increased their salaries and allowances as the employees work for more than two years in their positions. The company also ensures that it creates promotion among its employees before advertising vacant position to the market. Therefore, the company has had the interests of its employees and customers at heart over the nine decades it has carried out operations (Fernie & Sparks, 2009). The company has enabled an individual change management through its strategic plan. It has put its staff on the front line in the strategic plan as the proprietor for the propulsion of the image and success of Tesco. The company has trained the staff to develop a good relationship with the customers.
The staff greets the customers whenever they visit the stores. They ensure that the customers receive advice and assistance on the type of products that interest them. The company has empowered its staff with different ranges of benefits and motivational equipment which have had the positive impact on their satisfaction. The change also has had the cultural shift of its management team. The company works with six levels of store employees with each having a unique responsibility. The employees receive training depending on their respective responsibilities. Tesco training programs focuses on developing the skills of employees both in the external and internal environment. The program has enabled them to develop a personal relationship with the company. With time, the program has established a positive culture to the company’s development. The staff has developed a customer-oriented feeling with a deep connection to their work. Nevertheless, the program has doubled their confidence in the services they offer. Tesco listens to the needs of its staff through its management policies. The managers spend some time with the staff and talk about issues that affect their daily lives. Through surveys made by the company, the management has found out that the best way to motivate their employees was through respect and listening to them (Griffin, 2010). The company since 2007 has involved its employees in decision-making processes involving the stores.
Tesco influences its employees to come up with opinions concerning any business related issue concerning operation. The company has a customer oriented platform that enables the consumers have interaction concerning their products with Tesco. More than 67% of the customer segments have mentioned Tesco as the favorite company. Tesco has used change tools and strategies to create change in its employees’ behavior. The change focused on developing the behavior and not the values of the employees for efficient professionalism.

References

Andrew, S. (2007). Tescopoli: How one shop came out on top and why it matters. London: Constable.
Bethany, N. (2006). Fair-Trade and the growth of ethical consumerism within the mainstream: an investigation into the Tesco consumer. Leeds: University of Leeds.
Fernie, J., & Sparks, L. (2009). Logistics and Retail Management: Emerging Issues and New Challenges in the Retail Supply Chain (Vol. 3rd ). Kogan Page Publishers.
Griffin, W. R. (2010). Management (Vol. 3rd). Boston: Cengage.
Hart, S. (2003). Marketing Changes. Boston: Cengage Learning EMEA.