The paper “ Tesco Plc - Retail Management, Passionate Leaders and Corporate Transformation" is a thoughtful example of an annotated bibliography on business. The bibliography presents the author's findings from the books and articles, and how they relate to the topic. Bell, D. E., & Reavis, C. (2003) with their "Tesco Plc" (Boston, Mass, Harvard Business School Pub) are at the start of the list. From this book, I learned that the Tesco Company was founded in 1919 by Jack Cohen. The book also enlightened me on the fact that the name Tesco first appeared in 1924 though the first store started its operations in 1929.
The store initially started as a grocery retailer in the UK but the company diversified geographically and also into other business areas which include petrol, electronics, clothing, books retail, furniture, financial services, internet services, software, and music downloads, telecoms and DVD rental (Bell & Reavis, 2003). The book acknowledged the fact that the company repositioned its business strategy in the 1990s and it changed to Tesco Finest ranges. This strategy led to the growth of its various chains from five hundred stores in the 1990s to two thousand five hundred stores in 2005.
Tesco’ s Values sits at the heart of its business and helps the store to deliver its core purpose, which is to generate value for its treasured customers in order to earn their lifetime loyalty. The store affirms that it tries to its level best for its customers, treat people, as they would love to be treated in order to, fully enjoy their work (Bell & Reavis, 2003). Channer, P., Hope, T., & Palgrave Connect (Online service).
(2001). Emotional impact: Passionate leaders and corporate transformation. Houndsmills [England: Palgrave. According to this educative bibliography, Tesco Company has greatly contributed to better managerial practices and more completion among the other retail stores. The book expounds the values of Tesco which are the key values which have set its principles and standards. These values assist the store in delivering Tesco’ s core purposes in order to generate more revenues for the store and at the same time ensuring that customers are treated with world-class customer service (Channer, Hope & Palgrave Connect (Online service), 2001). Fernie, J., & Sparks, L.
(2009). Logistics & retail management emerging issues and new challenges in the retail supply chain. London, Kogan Page Ltd. Retrieved 15th March 2013 from http: //search. ebscohost. com/login. aspx? direct=true& scope=site& db=nlebk& db=nlabk& AN=280315 This journal introduces the stakeholders and shareholders of Tesco PLC whereby its stakeholders are people who depend on the company. Tesco’ s stakeholders depend on it for their livelihood and they include its suppliers, employees, government, manufacturers, farmers and charity organizations. Tesco’ s shareholders include the employees who purchase the company’ s shares in order to create employee ownership of the company, the company’ s shareholders and customers.
There is also a comprehensive CSR (Corporate Social Responsibility) charter which outlines the company’ s KPI’ s (Key Performance Indicators) annually. These KPIs include taking care of the environment, buying and selling products responsibly; offering favorable customers products, supporting the local communities through job creation and outreach programs (Fernie & Sparks, 2009). Tesco, Tesco PLC, Retrieved on 15th March 2013 from < www. tescoplc. com > This journal is published by the Tesco PLC on behalf of the company. It has all the necessary information that is required when someone researching the company.
It is noteworthy noting that the article is very relevant and informative in my comprehensive research which analyzes the role Tesco PLC has played in creating a revolution in the retail business. The article elaborates the six formats of Tesco’ s UK operations which include Tesco Extra, Tesco Superstores, Tesco Metro, Tesco Express, One Stop, Tesco Homeplus, and Dobbies. Each of these stores is fully explained and it also includes the differences in each store. Tesco Extra stores are hypermarkets usually located out of town and are larger as compared to the other stores.
These stores stock all range of Tesco’ s products although some of the stores are in the middle of inner-city locations and town centers. Tesco Superstores are large standard supermarkets, which stock groceries and a smaller range of non-food products in comparison with Extra stores. Tesco Metro stores are mainly located in the inner city, in city centers and on high streets of towns. They are in between Tesco Express stores and Tesco Superstores in terms of size. Tesco Express sores are notably the neighborhood convenience stores that are found in residential areas, in the city center districts, small villages, and towns and in various Esso petrol stations (Tesco). Woods, M.
(2012). Risk Management in Organizations: An Integrated Case Study Approach. London, Rutledge. This bibliography expounds on the other various businesses which Tesco is involved which include financial services, Internet retailing, petrol stations, photoshops, telecoms, Tesco Tech Support, filmmaking, Technika, record label, Tesco Tyres, video-on-demand, gold exchange, and beauty salon. The book notes that Tesco made extremely substantial profits of up to £ 3.4 billion in 2010 in spite of the recession effects which greatly affected the economy (Woods, 2012).
In conclusion, I realized that there was a lot of information that I did not know regarding Tesco PLC. I have an exemplary business interest and from the article and books that I have read, it is clear that Tesco PLC is a driving force in the retail store business whereby it acts as a yardstick of performance in the retail business.