What is the official Mission Statement for TESCO PLC?
I have been looking on the web and can’t find any thing that might suggest itself as the overall mission statement for Tesco. Genuine answers only please no smart ass remarks. Thank you
Hi Need to Know
I researched this a few months ago on Tesco so you are more than welcome to use this for your piece of work
Just to recap in essence a Company Mission Statement (CMS) is a qualitative statement of an organization’s aims. It uses language intended to motivate employees and those within the firm and convince customers and suppliers and those outside the firm of its sincerity and commitment. Tesco PLC has a Company Mission Statement, which is also represented as an image.
Customer focus:
Sir Terry Leahy, chief executive since the mid 1990s, has taken the bold step of trying not to focus on the usual corporate mantra of "maximising shareholder value". The company’s mission statement reads, "Our core purpose is, ‘To create value for customers to earn their lifetime loyalty’. We deliver this through our values, ‘No-one tries harder for customers’, and ‘Treat people how we like to be treated’". The underlying aim is of course to make higher profits, but there is a clear focus on customer service at the top level of the company.
This statement is at the centre of all, which Tesco do. . "Creating value for customers, to earn their lifetime loyalty."
Tesco have two values that force the way they do business, which are
No one tries harder for customers:
Understand customers better than anyone
Be energetic, be innovative and be first for customers
Use our strengths to deliver unbeatable value to our customers
Look after our people so they can look after our customers
Treat people how we like to be treated: * All retailers, there’s one team…The Tesco Team * Trust and respect each other
Brief additional notes
Tesco started as a one-man business in London’s East End. Tesco was founded by Jack Cohen, son of a Polish Jewish tailor. He sold groceries in the markets of the East End from 1919.
The Tesco brand first appeared in 1924. The name derived after Jack Cohen bought a large shipment of tea from T.E. Stockwell (formerly Messrs Torring and Stockwell of Mincing Lane), he made new labels by using the first three letters of the supplier’s name and the first two letters of his surname forming the word "TESCO".
The first Tesco store was opened in 1929 in Burnt Oak, Edgware, London.
The firm was floated on the London Stock Exchange on 23 December 1947. The first Tesco self-service store opened in 1948 in St Albans and is still trading in 2006 as a Tesco Metro store.
The first Tesco supermarket was opened in 1956 in a converted cinema in Maldon, Essex.Tesco’s first "superstore" was opened in 1968 in Crawley, West Sussex. The group began selling petrol in 1974 and its annual turnover reached one billion pounds in 1979. Also In 1975 Tesco opened one of its first Hypermarkets in Irlam. The first Hypermarket under the "Extra" name opened in 1997.
Incentives and price-cuts
The founder, Jack Cohen, was an enthusiastic advocate of trading stamps as an inducement for shoppers to patronize his stores: he signed up to Green Shield Stamps 1963, and became one of the company’s largest clients. But Cohen was a fan of pile it high and sell it cheap, and in the mid-70s Tesco faced many cost problems associated with not properly integrating it’s purchased chains of stores. When the firm overstretched itself buying the Victor Value stores chain, management consultants were called in to sort out the mess. In 1977 Tesco launched Operation Checkout, an across the board price cutting campaign aimed at countering the threat from the new breed of discounters such as Kwik Save. A key decision was to abandon Green Shield stamps, thus saving some £20m a year and helping to finance price reductions. Other traders didn’t like it and attempted to sue Tesco for breaching the retail price maintenance law, but Cohen wasn’t charged and the law was eventually abolished.
In 1994, the company took over the Scottish supermarket chain William Low. Tesco successfully fought off Sainsbury’s for control of the Dundee-based firm, which operated 57 stores north of the border, paving the way for Tesco to expand its weak presence in Scotland. To the present day, Tesco has based its Scottish headquarters at the former Wm. Low offices in Dundee. From small beginnings in Scotland - Inverness was recently branded as "Tescotown", since an estimated 50p in every £1 spent on food is believed to be spent in the three Tesco stores within the city (Nationally, it is estimated that 1 in every £8 is the proportion spent) It introduced a loyalty card branded ‘Clubcard’ in 1995 and later an Internet shopping service. During the 1990s it expanded into Central Europe, Ireland and East Asia. In July 2001 it became involved in internet grocery retailing in the USA when it obtained a 35% stake in GroceryWorks. In October 2003 it launched a UK telecoms division, comprising of mobile and home phone services, to complement its existing internet service provider business. In August 2004, it also launched a broadband service
September 3rd, 2009 at 6:32 am
Hi Need to Know
I researched this a few months ago on Tesco so you are more than welcome to use this for your piece of work
Just to recap in essence a Company Mission Statement (CMS) is a qualitative statement of an organization’s aims. It uses language intended to motivate employees and those within the firm and convince customers and suppliers and those outside the firm of its sincerity and commitment. Tesco PLC has a Company Mission Statement, which is also represented as an image.
Customer focus:
Sir Terry Leahy, chief executive since the mid 1990s, has taken the bold step of trying not to focus on the usual corporate mantra of "maximising shareholder value". The company’s mission statement reads, "Our core purpose is, ‘To create value for customers to earn their lifetime loyalty’. We deliver this through our values, ‘No-one tries harder for customers’, and ‘Treat people how we like to be treated’". The underlying aim is of course to make higher profits, but there is a clear focus on customer service at the top level of the company.
This statement is at the centre of all, which Tesco do. . "Creating value for customers, to earn their lifetime loyalty."
Tesco have two values that force the way they do business, which are
No one tries harder for customers:
Understand customers better than anyone
Be energetic, be innovative and be first for customers
Use our strengths to deliver unbeatable value to our customers
Look after our people so they can look after our customers
Treat people how we like to be treated: * All retailers, there’s one team…The Tesco Team * Trust and respect each other
Brief additional notes
Tesco started as a one-man business in London’s East End. Tesco was founded by Jack Cohen, son of a Polish Jewish tailor. He sold groceries in the markets of the East End from 1919.
The Tesco brand first appeared in 1924. The name derived after Jack Cohen bought a large shipment of tea from T.E. Stockwell (formerly Messrs Torring and Stockwell of Mincing Lane), he made new labels by using the first three letters of the supplier’s name and the first two letters of his surname forming the word "TESCO".
The first Tesco store was opened in 1929 in Burnt Oak, Edgware, London.
The firm was floated on the London Stock Exchange on 23 December 1947. The first Tesco self-service store opened in 1948 in St Albans and is still trading in 2006 as a Tesco Metro store.
The first Tesco supermarket was opened in 1956 in a converted cinema in Maldon, Essex.Tesco’s first "superstore" was opened in 1968 in Crawley, West Sussex. The group began selling petrol in 1974 and its annual turnover reached one billion pounds in 1979. Also In 1975 Tesco opened one of its first Hypermarkets in Irlam. The first Hypermarket under the "Extra" name opened in 1997.
Incentives and price-cuts
The founder, Jack Cohen, was an enthusiastic advocate of trading stamps as an inducement for shoppers to patronize his stores: he signed up to Green Shield Stamps 1963, and became one of the company’s largest clients. But Cohen was a fan of pile it high and sell it cheap, and in the mid-70s Tesco faced many cost problems associated with not properly integrating it’s purchased chains of stores. When the firm overstretched itself buying the Victor Value stores chain, management consultants were called in to sort out the mess. In 1977 Tesco launched Operation Checkout, an across the board price cutting campaign aimed at countering the threat from the new breed of discounters such as Kwik Save. A key decision was to abandon Green Shield stamps, thus saving some £20m a year and helping to finance price reductions. Other traders didn’t like it and attempted to sue Tesco for breaching the retail price maintenance law, but Cohen wasn’t charged and the law was eventually abolished.
In 1994, the company took over the Scottish supermarket chain William Low. Tesco successfully fought off Sainsbury’s for control of the Dundee-based firm, which operated 57 stores north of the border, paving the way for Tesco to expand its weak presence in Scotland. To the present day, Tesco has based its Scottish headquarters at the former Wm. Low offices in Dundee. From small beginnings in Scotland - Inverness was recently branded as "Tescotown", since an estimated 50p in every £1 spent on food is believed to be spent in the three Tesco stores within the city (Nationally, it is estimated that 1 in every £8 is the proportion spent) It introduced a loyalty card branded ‘Clubcard’ in 1995 and later an Internet shopping service. During the 1990s it expanded into Central Europe, Ireland and East Asia. In July 2001 it became involved in internet grocery retailing in the USA when it obtained a 35% stake in GroceryWorks. In October 2003 it launched a UK telecoms division, comprising of mobile and home phone services, to complement its existing internet service provider business. In August 2004, it also launched a broadband service
References :