Introduction
Tesco was founded in the UK by Jack Cohen in 1924. The corporation’s business line is the sale of products and industrial goods. The company’s stores, super, and hypermarkets are located in some countries of the world and are widely known. Tesco has created a network of popular stores for people and provided many people with jobs. Although the company is one of the largest and most well-known, the business environment still influences the enterprise.
The Business Environment of Tesco
One of the most significant factors in the market is competition, and like any firm, Tesco also has its own competitors. The company has extensive experience, which allows it to beat its competitors. Thus, the corporation ensures environmental safety and actively fulfills its social responsibilities to the community. They are engaged in nature conservation through waste reduction and recycling (Rosnizam et al., 2020). In addition, the company is involved in charity, making contributions to various funds and increasing people’s and customers’ loyalty.
Tesco has long-term goals that allow the enterprise to cope with difficulties and succeed with competing companies. One of the most important criteria for choosing a store to purchase goods by customers is the price and quality. Tesco, in the conditions of the modern market, strives to produce and sell healthy and eco-friendly food at affordable prices for any person (Rosnizam et al., 2020). In addition to customers, the company also takes care of employees, as competing firms can attract valuable personnel to themselves. Tesco conducts seminars and training for its employees and provides an opportunity to establish a flexible schedule and offers loyal and comfortable working conditions.
Conclusion
In conclusion, today, there are many market changes, and many of them are related to the struggle for customers. Tesco is a world-famous company that provides people with affordable and high-quality goods. The company has its standards and goals that help not only attract customers but also become a desirable employer for employees and maintain the loyalty of the community. The company continues to expand and grow despite all kinds of changes in the market.
Reference
Rosnizam, M., Kee, D., Akhir, M., Shahqira, M., Yusoff, M., Budiman, R., & Alajmi, A. (2020). Market opportunities and challenges: A case study of Tesco. Journal of the Community Development in Asia, 3(2), 18-27. Web.