Tesco is one of the oldest multinational grocery companies in the world. The first three letters of Tesco originated from the initials of its supplier, Thomas Edward Stockwell (TES), and the last two letters from his name Jack Cohen (CO). Tesco has a long history of growing up as a giant multinational. The company has been criticised for its controversial and aggressive marketing.
In its hundreds of years-long journey, Tesco has been motivated and guided by its mission statement and vision statement. The mission statement of Tesco is “Serving shoppers a little better every day”. It also reflects in its mission statement that the company is continuously trying to improve its service
Before moving to the mission and vision statement analysis, We can look at the overview of Tesco. Tesco was founded by British entrepreneur Jack Cohen in 1919. It is the third-largest retailer in the world. Tesco expanded its business in the 1990s and has operations in 11 countries. By 2020, Tesco’s total assets worth 12.879 billion and have more than 4 hundred thousands employees worldwide.
Core Purpose: Tesco mission statement
Tesco’s mission is “Serving shoppers a little better every day”.
Tesco Mission Statement Analysis:
The mission statement of Tesco is short but precise. We can compare this mission statement with Walmart’s mission-” everyday low price”. Offering great products at great value which they can buy easily and delivering them in the right way.
In the UK, Tesco Serve 66 customers each second. The main purpose of Tesco is to make a better customer experience each time they buy products from Tesco.
Tesco does this in all levels of the organizational structure, From colleagues in the office to the employees who are supporting the shopping of customers at supermarkets.
By this, Tesco is helping customers in following areas-
Better Quality of Life:
Tesco is helping its customers to have a better quality of life. Tesco knows that a small help does also matter and can create a big difference. A Little helps improve the lives of millions. Tesco wants a better society and working for that goal.
Easier Way of Living:
Purchasing products from their doorstep was not easy before. Tesco is building supermarkets at peoples walking distance that is helping people to get necessary products easily. Even their delivery is fast
Tesco Vision Statement
Tesco vision statement is “to be the most highly valued business by: the customers we serve, the communities in which we operate, our loyal and committed colleagues and of course, our shareholders.”
If we analyze Tesco’s vision statement, we get the following core points. Tesco wants to highly value the company to its customers, communities, colleagues and shareholders. In brief, Tesco wants to be a highly valued and relevant company to its stakeholders. The vision statement talks about the following points.
Highly Valued Company:
Now, see how Tesco wants to be highly valued to its customers? Yes, it is a service. Tesco wants to serve its customers in a way that would be great. No one will get bad experiences from Tesco. It is their main concern which also reflects in their mission statement. To serve better, you have to deal with customers in a better way, behave them courteously, and deliver the products at the right time, right product.
Highly Appreciated by Stakeholders:
What does it mean by communities? A business can not be run without a community. Tesco wants interested people to think high about Tesco and the areas where they operate business should give high value to Tesco.
What does it mean by loyal and committed colleagues? It’s simple. Tesco wants that the employees of Tesco will feel proud to be part of this company. Tesco will make them happy.
Tesco also wants to be highly valued by its shareholders. The people who are the owner of Tesco. Tesco wants to give a dividend to them and benefits to make them proud by enhancing brand value through good and improved service.
Tesco’s Core Values
Core values help and understand shared values throughout the organization. Tesco mentioned the following core values in its official website.
- No one tries harder for customers
- Understand customers
- Be first to meet their needs
- Act responsibly for our communities
- We treat people how they want to be treated
- Work as a team
- Trust and respect each other
- Listen, support and say thank you
- Share knowledge and experience
- Every little help makes a big difference
- Helping to reduce food waste globally and ensuring surplus food goes to those in need
- Making it easier to live more healthily
- Sourcing great quality, affordable and sustainable products
- Making a positive contribution to the communities where we operate.
Frequently Asked Questions:
Is Tesco Aligned With Its Mission And Vision Historically?
Each company wants to maintain a standard based on its mission, vision and core values. Tesco achieved many successes following corporate standards and could be one of the largest grocery brands. But Unlike others, Tesco has many criticisms. Most of the criticism comes from its aggressive marketing. Some of them include Litigation, use of caged eggs, price-fixing, corporate tax structure, Horse meat found in burgers, discriminatio9n about blinds, sales of goods from Israel, sales of anti-Semitic books, Xenophobia,out of dates food etc.
What are the best aspects of working at Tesco?
Some of the good sides includes-
- Privilege cards offer 10% off, even 20%
- Colleagues shop
- Competitive pay based on areas
- Learning opportunity
- You can go upper rank if you can show skills
- Good work environment
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