Morality and Competitor Essay Example for Free

Morality and Competitor Essay No doubt, Money is an essential, almost indispensable article in the present day world. It is the’ money’ through which we can purchase all the necessary comforts and amenities of life. If you have money, you can obtain what seems impossible to others. It is the money which gives man, confidence, creditworthiness, credentials, capacity, capabilities and courage. In present day materialistic world, money has become very powerful. In the present day corruption, cut throat competition, callous degradation of moral and ethical values, are for the sake of grabbing and accumulating more and more money. The prestige, respect, social status, commanded by a person is calculated per his monetary status. Time has gone, when we valued a person in evaluated of his moral and ethical values. People were earlier known for keeping their words, for donating every thing to a donee. Now people are know in terms of their ranking in the list of rich of the world. Money has become the centre of all activities. Money and muscle power have become essential ingredients of a successful political leader. Money is regarded as omnipotent by a few people, particularly by the poor. As whatever one does not possess, one aspires it badly, and it becomes mono aim of achievement. For the rich, that owe lots of money, still craving to earn more and more, by hook or by crook, with fair or foul means, without caring even for their own health, own family. They are the servants of money, earning money not for the sake of themselves but for the sake of money and a time comes they find themselves unable to use the money for their happiness. They are unable to eat, unable to taste the most delicious dish, unable to move, walk or enjoy because they suffer from many diseases which are the result of their undue craving for wealth at the cost of health. Can one purchase anything with the power of money? No, one cannot. You cannot purchase inner satisfaction with money, you cannot purchase the lost youthfulness with money, you cannot purchase time from the death at any cost. Those who earn money simply to a have more money, more balance in their accounts are no better than the proverbial miser king ‘Midas’. Excessive love for money, make a man slave of money. Money is important for our life, but it is not the most important thing for a human being. Those who use money for fulfilling their necessities, acquiring reasonable comforts and for the welfare of a common good, are the masters of money. But those who earn money just for the sake of increasing its volume and number are slaves of the money. They are the most unfortunate creatures of God who know well that whatever money they are earning, can’t be taken an iota of that when they die even they are minting more and more money. What a paradox Money has become their master and they are just slaves, having no peace of mind, no moral and ethical values, no inner satisfaction. So it is rightly said that money is a good servant but a bad master. Let us use the money for our comfort, not for the sake of money, minting more and more money.

Desensitized America :: essays research papers

In Candide by Voltaire, there is an instance in the life of the old woman that outrages her. When she meets up with the Mores and they act abusive and intrusive toward her, she is initially outraged. When she stops to think about it, she exclaims that if she had been a person more knowledgeable about their customs, she would be less upset. This suggests that people everyday overlook acts that would be considered by an outsider to be appalling. In our society I can think of many instances that we accept, and in many ways we become desensitized to their horror because they are so common. A big example of this is the rampage of violence especially in our school systems. I can remember my freshman year that there was a bombing in a primary school in Scotland. I cannot even remember all of the details, but it was a truly tragic event. The fact that I cannot remember too much more of this story is an example about how we have become desensitized toward violence in schools. I think that every other day we hear instances of this type of horror. Obviously the one that stands out in my mind is the Columbine tragedy, but in between the huge stories, are the instances that are just as tragic but get less press. So many times we hear of children bringing guns to school, teens that play around with guns that don’t belong to them, and someone gets hurt or even dies. In the summer before I was in eighth grade a boy in the class ahead of me was killed by a gun when he and his cousin were having target practice. I cannot even remember the details of that tragedy, and that happened in my own town. I am sure that many of you have your own memories of instances in your hometowns, but sometimes they seem less important when compared to the â€Å"bigger† tragedies. If an outsider looked into our society, and took note of this, I would hope they would be appalled at the amount of violence and tragic deaths that occur everyday in our society, and our desensitivity to it. If they are not appalled, then perhaps all of humanity has taken a step down and not just our society. If you think that this desensitizing has skipped you, and that you are just as affected every time you read or hear about the death of a child due to guns, bomb scares in schools, even bombings in schools, then try to think of the tragedy in Scotland a few years ago.

Goodnight Mr. Tom

Goodnight Mr. Tom Mr. Tom: He is a bit gruff, but caring in the end. He is mostly a loner but opens his heart, when Willie arrives. William Beech: Scared, abused child who comes to stay with Mr. Tom during the war and later finds out the true feeling of family. Afraid of the belt. George: A friend of Will's at Little Weirwold. Carrie: A friend of Willie, who is fiercely independent and later goes on to attend high school. Zack: An outgoing, funloving boy who is also an evacuee from London staying with a Little Wierwold family. A loyal friend who helps William come out of his shell.Ginnie: Carrie's sister. Annie Hartridge: The beautiful and kind schoolteacher with violet blue eyes and a single long blonde braid. Has a baby, just after Willie starts in her class. Mrs. Fletcher: Caretaker for Mr Tom's house. Geoffrey: An artist living in Spooky Cott after his time at Dunkirk. Recognizes Willie's drawing talent and becomes his art mentor. Emilia Thorne: William's second teacher. Later de velops a relationship with Geoffrey. Mrs. Clarence: A middle-aged woman living in Salmouth, who takes Mr Tom, Willie and Zach in for their holidays. Dobbs: Mr.Tom's horse. Rachel: Mr. Tom's wife who died shortly after childbirth. After her death, Mr. Tom shut himself away from anyone who reminded him about her. Mrs. Black Mr. Bush Nance Mrs. Miller Mr. Peters Christine Trudy: Mrs. Beech's surprise baby. Later dies of mistreatment and malnutrition. Charlie Rudd: A local warden of Deptford. Shows Mr Tom Willie's house and assists in the rescue. Setting England Little Weirwold: The village Willie is evacuated to. Deptford: Willie's home town. Mr. Oakley later travels there. Expressions Wizzo: Expression akin to â€Å"Neato! † or â€Å"Great! Calloo Callay: Originally from Lewis Carroll's â€Å"Jabberwockey,† Calloo Callay is an expression of joy and excitement. Theme Power of Love Summary Abused boy goes to live with grumpy old man in the county because of war. Boy becom es happy, man becomes nice Willie Beech   is evacuated to stay with Mr Tom, where they bond after time. After time Mr Tom willingly adopts him. Quotes â€Å"He called me Dad, he whispered croakily into the darkness. â€Å"He called me Dad. † And, although he felt overwhelmed with happiness, the tears ran silently down his face. – Mr Tom (or Mr. Oakley)

The Relationship Of Business Environment And Management Business Essay - Free Essay Example

Sample details Pages: 6 Words: 1797 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? INTRODUCTION This report aims to create an understanding about the relations of business environment and the management in construction and property. It is also aimed at examining the critical analysis necessary on implementing the innovative management strategy and structure which enables the construction organisation to be prepared for sustainable growth. While the global economy is recovering from the recent recession, the construction and property industry are made to make a quick and sudden change that is necessary to evaluate the business environment and create a more sustainable business management. Don’t waste time! Our writers will create an original "The Relationship Of Business Environment And Management Business Essay" essay for you Create order There are some business management strategies for obtaining specified goals or result; which are in place to help assist the construction and property organisation to be an in position to positively sustain growth during its running process and time of uncertainty. https://aedasresearch.com/files/attachments/7-sustainable-rose-masdar.jpg Figure 1 MAIN BODY Business environment is a set of environmental issues that may influence the route of a business organisation through some forces known as the PEST. These forces are political, economical, socio-cultural and technological. These forces impact on the business structure and management system of a business organisation. These forces are predominantly outside the control of a business, they can potentially influence how business is run and impact on the managerial structure both positively and negatively. Fryer (1997) states that a business survival is largely about understanding the external environment and how it affects the organisations performance. Management is the controlling and directing of affairs of a business. It is an organisations activity, objectives and the act of working together to accomplish desired goals through the efficient and effective use of available resources. Management requires the working relationship of individuals in an organisation to enable them in their decision making process during difficult times such as recession, low production or sales. Management of a business is well beyond its internal affairs, it is a knowledge and understanding of a business environment. These understanding of a businesss external factors will enable the prevention or minimization of loss of the organisations revenue, and will ensure the organisation will solidify itself from going into administration and staff redundancy. The business environment which is a set of political, economical, socio-cultural and technological forces (PEST) that are outside the control and influence of a business is one that creates a very high level of uncertainty in a rapidly changing environment but could be dealt with under the right management strategy. These business environment factors have an individual effect on every organisations business activity and management process. POLITICAL A political factor of the business environment has a huge impact in t he construction and property industry because they are governed by the government in forms of employment laws, health and safety, monopolies legislation, foreign trade regulations, protection laws and taxation policy. The government uses these factors to create a balance in the economy; the most important political factor will be Tax law and legislation in terms of employees. This can be either positive or negative, if reduced it will mean that most businesses are more likely to see a boost in their output; because clients will have more disposable income which can be used in the construction of more buildings, plant hire or employing of more labour. But if Tax is to be increased, the construction and property industry will go through a slow period of production and there will be commercial exploitation on required resources such as fuel prices, sand, gravel and rocks. There will be fewer sales generated to fund the necessary resources even if the construction industry raises the prices for every project. Though, it does not have a complete negative effect on the industry; it may fundamentally influence the way it is managed in generating growth and development through encouraging foreign investment which will see rise in competitive productivity. ECONOMICAL An economical factor of the business environment also has an effect in the construction and property industry through the aspect of the GNP trends, unemployment, inflation, disposable income, interest rates, energy cost, and money supply, etc. These economic factors will create change in the business strategy and review on expenditures in order to look at ways to reduce cost so as not to be influenced by the current economic state. The two main factors that will disturb any future plans are the GNP trends and interest rates because organisations may find it difficult to borrow large capital if bank interest are high, this will have an adverse effect on rent of premises, mortgages may become difficult to acquire and maintain, companies might not have substantial amount for the required plant and machineries for construction projects. With the GNP trends, the total amounts of goods and services produced by the construction industry in the UK and abroad will have to be high in order to be at the top place in the market. A low GNP will determine that the UK economy in terms of production is slow and this will lead to recession, low output means fewer jobs are generated; consumers wont be spending much due to weakness in the pound sterling. But with the right management system, organisations will be able to work within budget and make sure they do not incur any loss, manage and encourage employees, utilise its resources, e.g. capital equipment and employees. SOCIO-CULTURAL Socio-cultural factors that affect the business environment are a study of how society and culture changes the thoughts and feelings of an organisation or individuals. A huge change has been s een in the lifestyle of people, income distribution and the population demographics. This is a huge change in the construction and property industry because a change in the lives of an average family, this aspect of the business environment focuses on the income distribution around families and social mobility, amount of buildings and infrastructure being built. Management could easily adapt to this factor as it is recognising the needs of consumer and perhaps changing the direction of the organisation. An example would be an organisation that does not offer consumers the option of a sustainable environment such as energy saving light bulbs, will have less clients. That organisation will have a carry out market research to understand consumer needs, the result will be a change organisation that will create an appealing change on their products and services that are delivered to carry a new look from their previous products. TECHNOLOGICAL Technology is a driving force in the ru nning of all business especially in the UK construction and property industry today. With the rapid growth of technology, the quality of work can be improved and made a lot easier. With the appropriate use of technology, the development process and time it takes to carry out tasks will be reduced drastically; and this will be spread across the board in order to reduce project time and complete task efficiently. With the current economic state; management might be in doubt about investing in technology, but if seen as to improve the quality of work and to cut down production time. In the long run, more units can be produced and the amount of labour required to carry out a task will be reduced. In the construction industry; technology is not just about plants and machineries used on sites, it also involves products such as quicker printers or operating systems that will save time is a crucial element in any organisation especially in construction such as web conferencing to enab le all parties involved in any given project to communicate amongst themselves, this will in turn lead to achieving what is required. Time is imperative in the construction and property industry; if a project is late it will cost a lot of money. With technology organisations can work more efficiently, it enables professionals to access information in their offices, from the comfort of their home, paper based information can be sent to other professional bodies across the world within seconds. Technology has done a lot of things to aid the construction and property industry, the introduction of photocopying has been around since the 60s, computers and fax machines has been around from the 80s. since the introduction of these technologies, a lot of time and money has been saved in creating copies of documents and access to the internet has been made a lot easier to send information from one party to the other, it has made the individual and management process of an organisation eas ier for advertising, sales, research, job search, etc. There are three main managerial systems that can assist a construction and property organisation in other to maintain sustainable growth during periods of uncertainty and these are: Scientific Management Theory Frederick Taylor (1856-1915) The scientific theory analyses the structure of the task to achieve the maximum output with the minimum input. These principles include the development of a true science of management, the scientific selection and training of workers, proper remuneration for fast and high quality work; and equal division of work and responsibility between staff and manager. Administrative Theory Henri Fayol (1841-1925) The primary element for the administrative theory was the authority was delegated downwards with management at the top and employees at the bottom. These principles include specialisation of labour, unity of command, chain of authority, subordination of individual interest and d iscipline. Bureaucracy Theory Max Webber (1864-1920) This theory analyses a clear system of authority with complete rules and regulations so that employees are fully aware of what is expected by them, it is based on staff ability to grow and develop in their various roles. CONCLUSION According to this report, its been established that business environment is a set of environmental issues that may influence the route of a business organisation through some forces known as the PEST. These forces impact on the business structure and management system of a business organisation; and these forces are predominantly outside the control of a business and can positively or negatively influence on the day to day running of a business organisation and also impact on the business management structure. From analysing the aspects of management theories, management is the controlling and directing of affairs of a business organisation, its objectives towards achieving desired goals through the efficient and effective use of available resources; it also requires the working relationship of individuals in an organisation to enable them in their decision making processes. These understanding of a businesss external factors will enable the prevention or minimization of loss of the organisations revenue, and will ensure the organisation will solidify itself from going into administration and staff redundancy. REFERENCES Fryer, B., (1997). The Practice of Construction Management. 3rd ed. Blackwell Publishing. Rees, W. D., Porter, C., (1996). Skills of Management. 5th ed. Thomson Learning. Harris, F., McCaffer, R., Edum-Fotwe, F., (2006). Modern Construction Management. 6th ed. Blackwell.

Enron The Smartest Guys - 1384 Words

Enron: The Smartest Guys in the Room Organizational Movie Paper Enron Corporation’s failure in the year of 2001 has become a depiction of unethical corporate behavior for years to come. After having watched Enron: The Smartest Guys in the Room; I found many organizational communications course concepts could be brought to our attention within the documentary. To further our understanding, I will offer my insight as to how class-related concepts connect with the documentary by discussing how Enron developed strong organizational values by identifying certain heroes and their stories that developed their sense of strong risk taking as well as discussing Enron’s â€Å"rank and yank† system that can be asserted with F.W. Taylor’s work within†¦show more content†¦Although Miller (2014) includes all four key components, I am going to focus attention on the first two, 1. Values are the beliefs and visions that members hold for an organization. 2. Heroes are the individuals who come to exemplify an organization’s values. These heroes become known through the stories and myths of an organization. This theory can be described as a way in which organizational members collectively interpret the organizational world around them in order to define the importance of the organizational happenings. Upon watching the documentary, one could conclude that Enron’s bosses created a culture of pushing limits and taking risks. From the movie, we understand that Jeff Skilling was known to be a nerd as well as others within Enron. It seemed as though Jeff had woken up one day and decided to change himself by wearing contacts instead of glasses, changing is wardrobe, and doing some modeling. As he changed, so did others who worked under him for the fact that they saw Skilling as their hero. With time, it has been noted that Jeff became some sort of tragic figure. He became a man who was radically different than how he portrays himself. It was known that Skilling was a huge risk taker and he often talked about, and then started to manifest in trips that he began to lead with small group s and customers that were often times dangerous. TheseShow MoreRelatedEnron : The Smartest Guy Essay799 Words   |  4 Pagescome to mind would be the bankruptcy of Enron Corporation. If we apply and analyze the skills of a negotiator like Founder and Chairman Kenneth Lay, CEO Jeffery Skilling, and CFO Andrew Fastow it becomes clear how and why the actives of Enron were perpetuated for as long as they were. â€Å"This wasn’t about the numbers Enron was publishing, but rather it was about the people. This was a human tragedy† (Gibney). As expressed in the documentary, â€Å"Enron: The Smartest Guy’s in the Room,† the core issue ofRead MoreEnron, the Smartest Guys in the Room.1229 Words   |  5 PagesEnron, the Smartest Guys in the Room. Enron was involved in American’s largest corporate bankruptcy. It is a story about people, and in reality it is a tragedy. Enron made their stock sky rocket through unethical means, and in reality this company kept losing money. The primary value operating among the traders was greed, money, and how to make profits under any circumstance. The traders thought that a good trader is a creative trader and the creative trader can find any arbitrage opportunityRead MoreEnron Smartest Guys On The Room1573 Words   |  7 PagesThe movie ENRON smartest guys in the room is about one of the biggest corporation corruptions in the United States. In 1985, ENRON Corporation, was a company that delivers pipeline for natural gas and electricity, while mergering with Houston Natural Gas and Internorth. ENRON quickly grew into a reputable company that generated enormous profits. In a short period of time ENRON was considered one of the top global trading company for natural gas, commodities, and electricity. According to the statistic;Read MoreEnron : The Smartest Guys Of The Room Essay1549 Words   |  7 PagesIntroduction Enron was a Houston based energy, commodities and services company. When people hear the name Enron they automatically associate their name with one of the biggest accounting and ethical scandals known to date. The documentary, â€Å"Enron: The Smartest Guys in the Room,† provides an in depth examination of Enron and the Enron scandal. The film does a wonderful job of depicting the downfall of Enron and how the corporate culture and ethics were key to Enron’s fall. As the movie suggests, Enron is â€Å"notRead MoreEnron: the Smartest Guys in the Room1989 Words   |  8 Pages it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets, and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization, from all personal (prescriptive and psychological approaches), managerial (group norms, reward system, etc.), and organizational (worl d-class culture) perspectives. This paper will focus on the business ethics issues at Enron that wereRead MoreEnron Case : The Smartest Guys Of The Room1149 Words   |  5 Pages In review of the Enron case, executives higher up exploited their privileges and power, participated in unreliable treatment of external and internal communities. These executives placed their own agendas over the employees and public, and neglected to accept responsibility for ethical downfalls or use appropriate management. As a result, employees followed their unethical behavior (Johnson, 2015). Leaders have great influence in an organization, but policies will not be effectiveRead MoreEnron: The Smartest Guys in the Room Essay1889 Words   |  8 PagesThe thing I liked most about this documentary was the fact that it focused on the guys at the top, the self-proclaimed smartest men in the room, the so-called geniuses who knew the energy business so much better than the rest of the indus try. And what a piece of work these men were. Enron: The Smartest Guys in the Room shows us how basic human nature does not change, whether its in the easy fall into killing as a means to resolve disputes, or in the incessant human obsession to acquire forRead MoreEnron: the Smartest Guys in the Room Essay1834 Words   |  8 Pagesthis paper is consider three possible rationales for why Enron collapsed—that key individuals were flawed, that the organization was flawed, and that some factors larger than the organization (e.g., a trend toward deregulation) led to Enron’s collapse. In viewing â€Å"Enron: The Smartest Guys in the Room† it was clear that all three of these flaws contributed to the demise of Enron, but it was the synergy of their combination that truly let Enron to its ultimate path of destruction. As in any organizationRead MoreEssay on Enron: the Smartest Guys in the Room5209 Words   |  21 Pagesï » ¿Enron: The Smartest Guys in the Room The  Enron scandal, revealed in October 2001, eventually led to the  bankruptcy  of the  Enron Corporation, an American  energy company based in  Houston, Texas, and the de facto dissolution of  Arthur Andersen, which was one of the  five largest  audit  and accountancy  partnerships  in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failure. Enron was formed in 1985 by  KennethRead MoreA Film Review of Enron: The Smartest Guys in the Room666 Words   |  3 PagesAbstract This is a review of the movie, Enron: The Smart Guys in the Room. The paper analyses the themes that contributed to the downfall of Enron. It also considers steps that Human Resources would have taken given the chance, in addressing the issues that contributed to the collapse of the Company. Factor That Led To Enrons Downfall According to the documentary Enron: The Smartest Guys in the Room, it seems that one major reasons that led to Enrons down fall was; unethical corporate behavior

Microfinance and MicroFranchises A Solution to Poverty

With the rise of the morning sun, most of us awake to a day of possibilities, but for those in extreme poverty daybreak brings only anxiety and despair as they try to survive on little to nothing. Over one billion people are currently living in extreme poverty, unable to fathom a future free from hunger, disease and oppression. Extreme poverty, defined as living on $1.25 a day or less, traps generations into an arduous existence with few opportunities to escape. Helping to eliminate extreme poverty means first understanding that it is possible to provide people with a pathway out and if it is possible, we therefore have the responsibility to do so. Millions die each year as a result of extreme poverty. While few would argue that we†¦show more content†¦This, however, can be a daunting task if the government is riddled with corruption or benefits from the disenfranchisement of certain segments of the population. Goals must clearly be established to reward governments wh o work to uphold human rights and denied to those who do not. For example, if a government wishes to qualify for assistance or debt forgiveness they should be expected to meet certain human rights achievements. As rates of health and education increase, so too do the rates of financial assistance or debt forgiveness. If human rights records are not improved, further funding is denied to those ill performing governments and redirected to community-based programs aimed at improving the well being of its members. Community groups play an invaluable role in alleviating poverty within a region. Creating an alliance with the community allows them to express their ideas, concerns and opinions. It protects against the unforeseen challenges and misused resources that can result if local customs or markets are overlooked as the development plan is formulated. The establishment of these community groups helps to identify and preserve cultural memes and additionally supplies the members with a sense of confidence as they are respected for the contributions they have to offer. Extreme poverty pushes its victims to the outer-perimeters of society, excluding them from local-level decision making and contributing to a sense of powerlessness and

Financial Performance Evaluation of Tesco free essay sample

This project will mainly focus on the business and financial performance of Tesco plc (a supermarket of UK) from year 2009-2011. Through this report and analysis project, we will know the detail of how the company is running and how well or badly the company performed in last 3 years. This will also help shareholders to realize whether and how their agents performed in their interests. The following main elements are included in Introduction section: * 1. 1 Background and Context -why Tesco: Tesco is the largest food retailer in UK, operating around 2,318 stores worldwide. Tesco operates around 1,878 stores throughout the UK, and also operates stores in the rest of Europe and Asia. Tesco. com is a wholly-owned subsidiary offering a complete online service, including tescodirect. com and tesco. net. The company also offers a range of both online and offline personal finance services. Tesco is headquartered in Hertfordshire, UK. For the year ended 26 February 2011 Tesco PLC achieved revenues that totaled ? 60,931million, an increase of 8. % against the previous year’s revenues that were ? 56365million, compared with UK sale growth 5. 5%. Undoubltly Tesco play a key role in UK supermarket industry as well as in world supermarket industry. Also it is worthwhile to be chosen to be analyzed, to some extent it also can be imitated by other supermarket company, e. g. supermarkets in similar internal and external environment, with Tesco, other supermarkets in developing countries. 1. 2 Scope and Objectives This project will cover 2 aspects of performance of Tesco plc: business and financial performance . Business performance includes the impact of mission statement, vision and strategy, management structure on Tesco plc, SWOT and PESTEL analysis of external environmental of Tesco plc, threshold capabilities and distinctive capabilities analysis towards internal environment, and also value chain ,VRIN analysis. Financial performance mainly focus on all kinds of financial statements, it will be analysed through some key performance indicators (KPIs), such as sale growth percentage, ROCE, profit margins, assets utilizations liquidity indicators: gearing, current ratio etc. 1. 3 Achievements What I have achiveved in this project will be based on the detail information of the target company,especially the annual report of the company over last 3 years (2009-2011). At the same time a comparator will be required to compare the performance with Tesco plc. I choose Morrisons as the comparator, through the comparison, it will help Tesco plc to identify the area which need to be improved and how to improve it. 1. 4 Overview of Dissertation This project will include the following main elements: Research: A survey will be include in this project, based on the current awareness of kinds of people to Tesco plc and Morrisons plc. The primary data will be analyzed in the business performance section, through the survey between these two companies, it will give the evidence to the last main section of this project which is Recommendation Analysis: this is the main body of this project, business and financial performance will be analysed in detail using different business model and financial indicators. Similarly comparison between similar companies is vital in this section, especially the information based on the annual report, which include massive information I needed to strength the evidence of my arguments. Conclusion: 3 elements will be included in this section. Summary, Evaluation and future works. Summarise the past performance of target company, Evaluate the current situation of target company, Recommend what’s future work need to implement to cover the shortage. Recommendations: this will continue the future works in last section, but differently, the recommendation will be specific according to the weaknesses of Tesco plc, it will refer to other companies towards the improvement, other companies which do not have significant market share may did well in the weakness area of Tesco plc, in this situation Tesco will also need to se for reference. The remaining of this project will include the reference list and several appendixs. Research: BUSINESS DESCRIPTION Tesco is one of the largest food retailers in the world, operating around 5380 stores and employing over 492,714 people up to 2011. As well as operating in the UK, it has stores in the rest of Europe, Asia and US.. It al so provides online services through its subsidiary, Tesco. com. Tesco set out a strategy to grow the core business and diversify with new products and services in existing and new markets. Tesco sells approximately 40,000 food products in its superstores, as well as clothing and other non-food lines. It was largely a food retailer and it sets itself the challenge of becoming as strong in non-food as in food. As its business has grown and it offers a wider variety of products to customers. It now aims to be as strong in everything it sells as it is in food. It has followed customers into large expanding markets in the UK – such as financial services, general merchandise and telecoms – and new markets abroad, initially in Europe and Asia and more recently in the United States. As well as convenience produce, many stores have gas stations. The company has become one of Britain’s largest petrol independent retailers. Other retailing services offered in the UK include Tesco Personal Finance. As Tesco grows and diversifies, it is able to offer more jobs and broader roles to people in the communities around our stores, depots and offices. This year it has recruited 21,000 people worldwide. One of its People Promises is that it will provide an opportunity to get on. t promises to support and develop our people so that they are able to advance in their careers Its people do a great job for its customers and it wants them to feel valued and rewarded. It also believes that staff rewards should be competitive, simple and sustainable to build trust and loyalty amongst our employees and assist with hiring and retention. It invest in pay and, in the UK,I t has the highest basic pay rates for customer assistants of any major supermarket. All of its staff move to higher rates of pay within a year of joining its business. It works continually to improve service for its customers. It has trained over 80,000 staff this year in Every Little Helps skills for checkouts, supporting them to deliver helpful, friendly and efficient service. It has also opened over 200 new stores in 2010/11, The company recorded revenues of: ?67. 6bn during the financial year end 2011,increase of 8. 1% over 2010. ?62. 5bn during the financial year end 2010,increase of 6. 8% over 2009. The operating profit of the company was: ?3. 8bn,increase of 11. 3% over 2010. ?3. 4bn increase of 8. 9% over 2009. Its Site Research departments in each country direct the property acquisition strategy by identifying optimal locations for new store developments and extensions. This work is underpinned by advanced spatial analysis and a data-led approach that considers our customers, competitors, local market shares and existing store performance. It has exceeded its target of donating at least 1% of pre-tax profits to charities and good causes. In total, this means that it has donated over ? 64 million this year. We have also raised ? 7. 2 million for our UK Charity of the Year,(CLIC Sargent. Building brands enhances the value of our business by benefiting all of its stakeholders, including customers, staff, communities and shareholders. Being viewed positively by its stakeholders supports the creation of a successful, sustainable and profitable long-term business. Having multiple formats – from large shopping malls to Express convenience stores – allows it to fulfil the full range of shopping missions for customers and flexibility to adapt to different local markets and planning regimes. In some cases it also develops mixed-use projects, combining new retail space with residential development on the same site. This enables us to build a store on a desirable site when otherwise it would not be economically viable. As a retail business, it knows that we can make a real difference in tackling climate change – cutting its own emissions, working with suppliers and helping customers to cut their carbon footprint. In its UK business,it has led the work on climate change and for the second year running, it has reduced its absolute emissions – this year by 5% despite space growing by 7% as well as significantly reducing emissions from its baseline portfolio of buildings. Analysis Business performance analysis: Several frameworks can be used to analyze the business performance, here I will focus on the SWOT,PESTEL and VALUE CHAIN analysis. SWOT Analysis A strengths, weaknesses, opportunities and threats (SWOT) analysis of Tesco has been provided below. Strength Tesco has lots of strengths that have make it to be successful UK. They have a simple but effective brand image which plays a key role in development of Tesco plc, also any large operating company should pay attention to it. Using of technology is a strength to Tesco. The internet is used,so customers can buy their products online, which is quick and sufficient. The choice of locations is a big strength. Tesco was launched in the UK in 1924 and has since grown to support over 2,000 stores nationally (Tesco, 2009). They are good at setting stores up in sufficient areas and almost have a store in all major townsand cities in UK.. Drawing upon Datamonitor (2010), Tesco was ranked third largest grocery retail company in the world, running over 4,331 stores primarily within the USA, Europe and Asia. Tesco’s strategy focus on product affordability in orser to ensure that customers get the product within their budget ,at the same the good quality is also maintained. Customer retention strategy have been proven by its loyalty scheme called ‘ Tesco Clubcard’ . Drawing upon DunnHumby (2008), the company collected data using clubcard and these information is used for effective direct marketing and other promotional techniques. Tesco have also expanded into different market and it has been proved successful. Such as food and accessories, mobile phone services insurance, and home ware. Expanding has made them more competitive and because of the customers strong brand loyalty, they may stay with Tesco with the different services they provide. The company holds the largest market share in the grocery market in the UK. Tescos innovation and attitudes towards its emplloyeeshas made it successful The company held 30. 7% share of the UK grocery retail market in 2010 Â  (Euromonitor, 2010) Tesco have cut down on climate change. The year-on year greenhouse emission is 7. 8% 2010,and 7. 7% 2011. Weakness: The main operations of the company are focused on the UK retail sector, it was more than 75% of its revenue during the fiscal year 2009 (Tesco, 2010). This is a weakness because of lack of geographic diversification, it will lead to systemic risks of the UK market. According to Mintel (2010), a number of products were recalled by Tesco in 2009 that has resulted in a financial loss, it also damaged its brand image. . Tesco has heavy competition and has done well compared with Asda. However, due to the current recession. price becomes more and more important to attract consumers. A large number of consumers are switching to hard discounters, such as Lidl and Aldi. Tesco has launched a ‘Discount Brands’ promotion which offers prices similar to hard discounters (Mintel, 2009) Over 80% of European salesare made by UK, if pound weakens against the Euro. Tesco’s European market share will be impacted negatively. The recession is one of Tesco’s main weaknesses as with most businesses in the UK (Mintel,2009). To some extent online shopping is a weakness for Tesco. it is difficult to browse and find products. It is a long and boring task. Opportunities: Analysing Tescos opportunities in the current environment look very promising as Tesco can explore more different and new markets. The number of store is increasing. They opened over 620 new stores in 2009 of which 435 were international (Mintel, 2010). This will help the companyto get economy of scale. Tesco. com is increasingly more popular. Making up over 1 million customers in 2010 (Guardian, 2010), whichcan help the company to attract new customers and reduce the average cost. Global expansion can be evidenced by the entry into the Indian market. This entry strengthened its global market position. A limited franchise agreement has been signed by the largest industrial corporations of India. (Daily Mail, 2010). Tesco has a very well know band image thatis good to Tesco , showing potential growth opportunities is indicated that they are trying to be more awared in Central Europe. Threats: The biggest threats Tesco faced was the recession, because the public will worry more about their money,e. g. how they spend it. This is also why Aldi and Lidl have significant growth over the past year as more customers try to save money by buying at cheaper supermarkets. Another threat is its competitors are using lowest prices to try to attract customers. price is replacing convenience as the key element. In January 2009 Tesco announced growth sales of just 2. 5% which is their lowest among all other major competitors. his may be due to Tesco’s attempt to repel Aldi and Lidl by offering more discount brands. The decline in income and the rise in unemployment have affected the buying behaviour of consumers which has adve rsely impacted the company’s sales. There has been fierce competition in the UK grocery market . Tesco though has been leading this sector for 15 years (Mintel, 2010), but is now faced with intense competition from its competitors which are gaining in market share. including the rest,i. e. , Asda, Sainsbury’s and Morrisons respectively. Another possible threat to Tesco is government intervention, in recent years the government may monitor the operations of large supermarkets. So that they can ensure what’s going on is legal and to stop any individual firm becoming too powerful. PESTEL analysis: PESTEL framework below analyses the dynamic and unpredictable environment in which Tesco operates and how Tesco deal with it. It helps to identify the impact on Tesco’s performance. Political: There is a free trading policy setting by governments to benefit from globalization,especially in Europe. Also, here is the immersion of countries in the European Union (EU ). It promotes trade between countries in different area. This provided Tesco with a platform to expand its retail network across the EU. Because that Tesco has numbers of stores globally, Tescos performance will be influenced by the political and legislation of these countries, including the European Union. According to relevant regulations,Tesco employs lots of student, disabled and elderly people , paying them lower rates. Because of high staff turnover in industry, these employees offer a higher level of loyalty, so they will not abandon their jobs at their pleases. Economical: Tesco plc will pay more attention to this factor, because it will influence demand, costs, prices and profits. High unemployment rate is an important element of economic factor,, which will adversely affect the good demand, therefore it can reduce the productivity of the manufacture. Usually, economic factors are outside the control of the company, but it has a profound impact on performance and the marketing mix. Although international business is still growing, Tesco plc is still highly dependent on the UK market. Therefore,Tesco would be badly affected by any slowdown in the UK food market,so Tesco still need to focus more on UK industry. Another point is that the customers will eat out less and eat more at home which will enable grocery retailers like Tesco to increase their output (Guardian, 2010). It must be noted that food is the last thing that customers will cut back on. The percentage of spending on food has increased over the years, as shown below (Euromonitor, 2010): Soacial: This will focus on the analysis of the UK population, the old population is discouraging food retailers as older people always eat less. Another point need to notice is ageing population would not find online shopping more convenient. All of these will discourage the retailer industry. Customers’ attitude towards food is changing as they have become more health- conscious. More and more people are demanding organic food,reflecting the change in demand. , Tesco has also allow customers to pay in cheques and cash at the checkout first. British customers are moving towards ‘one-stop and ‘bulk shopping, which is due to a variety of social changes . e. g. Tesco have increased kinds of non-food items available for sale. Technological: Technology is a major macro-environmental factor, It influences the development of Tesco products. Technologies can benefit both customers and the company. On one hand, customer satisfaction rises because,it will be more convenient to customers. Tesco stores use the following technologies: Wireless devices Electronic shelf labelline Self check-out machine Mobile technology performed as a platform for distribution within food retailing. Customers can browse and order the goods they require before they buy them. Loyalty programs are being introduced through information technology which discourage customers from switching over to their competitors (Sun, 2009). Online shopping has gained significant popularity due to the increased access to internet in UK. Environmental Environmentally friendly, the government is promoting reducing the packing. Office for National Statistics (2010), the percentage of consumers using reusable bags has risen from 71% to 74% and the number of those trying to cut down the number of plastic bags has risen from 65% to 68%. This helps to reduce the overall cost and it is good for Tesco to maintain corporate social responsibility image. Consumers reusing bags, recycling mobile phones and aluminium cans and preferring bagless deliveries are being rewarded through Tesco’s green Clubcard points (Tesco, 2009; Datamonitor, 2010). That is an important and advocate step in industry. Legislative Factors The performance of Tesco can be influenced by various legislations and laws of the operating country. The presence of competitors with established brands creates a threat, e. g. price wars and product differentiation.