Tesco 2
Tesco 2
Tesco 2
Alexandria Pena
About TESCO
Tesco is the U.Ks biggest
multinational grocery and general
merchandise retailer
Headquarters located in Welwyn,
Garden City, United Kingdom
Founded in 1919 by Jack Cohen
TESCO has over 2,000 stores in the
UK and a growing number of stores
abroad in countries such as Thailand,
China, Hungary and the United
States.
STRENGTHS OF TESCO
Past Accomplishments
Tesco has been able to sustain its business for many years since 1919
Tesco has used successful methods and strategies to expand across the world.
Current Accomplishments
Tesco has survived its hardest year in 2014 that involved a legal investigation
followed by a resignation of one of its CEOs and a loss of profits. Tesco had
overestimated its profits by 263 m.
Future Accomplishments
Under new leadership CEO David Lewis was able to reconstruct Tescos structure
and was able to show results of reversed profit losses.
Weakness of Tesco
Observation and Selection of Scope
In 2014 Tesco faced a legal investigation due
fraud.
Abuse and corruption are results from systems
that fail between leaders, followers and
organization structures
Tesco needs to send a clear message
regarding the importance of ethical behavior
and integrity to its leaders and employees.
The abuse of power will not be tolerated in the
work place when it comes to making
decisions.
Increase the training of leaders and followers
Data
Use research and models
to understand customers
behaviors
This can lead to incentive
buying in which can be
profitable and a tool.
Understand factors that
help attract customers to
Tesco
Data
Understanding companys financials
are essential when making decisions.
David Lewis used what the Income
Statement reflected when it came to
deciding of decreasing 40% percent
of Tescos operating division. Not all
decisions are easy but need to be
made for a better tomorrow.
Tesco needs to establish good and
accountable financial habits.
Monitoring Intervention
Proposed Steps for Success
Set new goals after change has taken place and settled
Use The Golden Circle Concept, Source: Simon Sinek, Start with WHY
Plan and Prioritize- Define the companys strategic planning in its departments
Assure Task Performance-Work breakdown structures for managers and
employees. Set Goals for Projects!
Implement Checks and Balances-Fraud happened once, Prevent it from
happening again!
Manage Operations- Create Network Diagrams, Delegate work effectively
Evaluate (S.W.O.T) Analyze results
Evaluation of Results
Mid-Month Company Surveys and Assessments
Evaluations
Yearly Leaders Evaluations
Monthly Employee Evaluations
Audits that are Internal and External
Bibliography