Tesco was founded in 1919 by Jack Cohen, he started by selling groceries to people in East London. His first own named product, was called Tesco Tea. But this was before the company was named Tesco. The first store they opened was in 1929 by Jack Cohen named Tesco. Now in the future Tesco are expanding quicker than ever, it is the ninth largest retailer in the world and is also the 25th largest company in Europe according to revenue. This is mainly due to the size of the business; Tesco operate stores in 7 countries in Asia and Europe. Tesco have achieved plenty of things: In 2014 4.7 million meals were given by customers, it was split between charity partners FareShare and Trussell Trust.
Oxfam was founded in 1942 in Oxford, England. Like Tesco, Oxfam has achieved plenty of things. Oxfam have achieved more things in order to help the community than Tesco has but that’s mainly due to Oxfam being a charity. Oxfam just last year helped give 2 million people safe, clean water and washing facilities. They helped to improve 85,000 people’s lives through creative ways to tackle climate change. But Oxfam’s objectives may change from time to time as disasters may occur and there focus will be set on creating and accomplishing the most important objectives.
Tesco and Oxfam are different relative to size, Tesco is a large business employing hundreds of thousands of people to help sell a huge variety of products. Oxfam on the other are a medium sized business, with around 4 times the amount of volunteers than actual employees. This shows that Tesco and Oxfam have different objectives; Tesco’s objectives are things such as satisfying customers as much as possible by having cheaper prices for the average income families while their purpose being to make profit. Providing a good service and gaining as many possible customers as possible, while keeping them satisfied which increases the likelihood of repeat purchase and customer loyalty for the customers of Tesco, protecting the environment and to help the well-being of the community, meeting customer’s needs.
Oxfam has several objectives, which are all ethical. Oxfam is an ethical company, on the other hand some people may argue that Tesco are not ethical. An example of this is the 2013 Tesco horsemeat scandal where some foods labelled as beef, for example beef burgers were found to contain 29% horsemeat, and there was also the accounting scandal where Tesco had to pay. Oxfam is a charity which was created in Oxford in 1942, its objectives are clear: Helping people, reducing poverty, saving lives, promote equality. Oxfam are always trying to find new innovative ways of helping people all over the world.
Tesco has several stakeholders, but the most important to them are: Customers, Suppliers, and Shareholders. The most important to Tesco is most likely customers. This is because customers have such a large influence on how the business is doing, so Tesco have to keep their customers satisfied so that the chances of repeat purchase is higher. This means Tesco have to think of new innovative ideas in order for them to be more appealing to customers than other local competitors. If Tesco do not leave customers satisfied by such things as: good quality, good service, good location, enough employees (to minimise waiting) it could lead to customers visiting competitors. Tesco need to concentrate on focusing on quality a lot, this is due to there being cheaper alternative supermarkets like Aldi and Lidl. Who sell similar products to places such as Tesco but under their own brand name, this is becoming increasingly popular as prices on food and especially sugar are rising. It is crucial for Tesco to communicate with their customers. There are several ways this are done:
• By using new Technology
Due to new technology on mobile phones it has created opportunities for businesses to contact customers almost instantaneously
Tesco also have to make sure their relationship with their supplier is good, is it critical for them to stay successful. A good relationship with suppliers means that products ordered are more likely to