Tesco is aBritish based Public limited company (PLC), A PLC is a company whichsells/trades shares to the public. Tesco, is a multinational grocery andgeneral merchandise retailer with headquarters in Welwyn Garden City,Hertfordshire, England, United Kingdom. The purpose of Tesco is to please everycustomer and keep them loyal for a life time, as this saying says on theirwebsite. ‘Our Core Purpose is to create value for customers to earn theirlifetime loyalty’.
Themain purpose of Tesco is to make profit and expand their business by profit byselling groceries and other home goods to people. Also, another purpose is to help peoplesave money by selling their product cheaper compare to other super marketstores. Tesco is defined as a global business because as mentioned before,it is the biggest employer in the UK with over 310,000 employees and over3,4000 stores. Their shops are located all around the UK however it also hasstores in 14 countries across Asia, Europe and North America.
It was originallya national business from 1912 until 1992 when it opened its first store abroadin Poland. Tesco is a Public Limited Company because the company floated itsshares in the market, this way it was able to raise money for its expansion.The reason Tesco is a Plc is because of the sheer size of the business, it ishuge. The advantages that Tesco have of being a PLC is that Tesco have alimited liability for the shareholders, the business can raise a large capitalsum as there is no limit to the number of shareholders unlike a private limited, a plc is able to advertise the sale ofshares and sell them to members of the general public though the stockexchange. The disadvantages are the original owners may losecontrol, there are strict control and regulations to comply in order to protectthe interest. Tesco is an organization that provides goods and services at aslightly low price (special offers and discounts) in order to attractcustomers. Tesco is a secondary sector becausethey make some items themselves like when the products have the Tesco brandmake on it.
It means it’smade by them. Also, Tesco is a huge retail outlet whichfalls under the tertiary sector as it provides goods and services to the public e.g.wholesales sales, transport ion and distribution. However, theyreceive their products from their manufacturers (Tesco Corporation Manufacturing).They sell various kinds of goods and provide a range of services such as, food,accessories, medicine, deliveries, customer assistance etc. They sell theiritems and provide their services at profit in order to maintain the business.