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Corporate Governance and Strategy in Tesco

University: Bucks new university

  • Unit No: 5
  • Level: Post Graduate/University
  • Pages: 27 / Words 6763
  • Paper Type: Assignment
  • Course Code: IBU5GW
  • Downloads: 136
Question :

This assessment will depict certain questions which are like:

Develop an action plan in formative and a summative assessment in relation to the problems faced in the corporate governance and also for the strategies that are used by governance in relation to Tesco.

Answer :
Organization Selected : Tesco

INTRODUCTION

Corporate governance consists of a set of decisions that define a company’s basic orientation in order to achieve corporate strategies and goals. This also helps to ensure the correct balance between the interests of all its stakeholders and the organization itself. The present report will be based on corporate governance issues that occur in TESCO. The company stated that due to implementing inappropriate accounting policies, Tesco faced some difficulties in business. There are some other issues that affect the overall business corporate governance such as board independence, executive pay, and financial reporting.

The present report will be discussing Tesco’s corporate issues with the help of a literature review and apply different research methods to the study (Chkanikova and Lehner, 2015). The main purpose of this report is to identify the impact of corporate strategy and governance on business functions. Overall, the study will be based on the issues and problems in corporate governance and strategy in TESCO. It helps to protect future risk, stable financial policies, etc.

Aim: “To identify the issues of corporate strategy and governance that impact upon organization functions” – a case study on TESCO

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Research Objectives

  • To identify the role of corporate strategy and governance
  • To ascertain the issues of corporate strategy and governance within TESCO
  • To recommend strategies to overcome barriers of corporate strategy and governance issues

Research Question

Q1. What are the roles of corporate strategy and governance?

Q2. What are the certain issues of corporate strategy and governance within TESCO?

Q3. What are the recommended strategies to overcome from the barriers of corporate strategy and governance issues?

LITERATURE REVIEW 

The role of corporate governance is very much vital in terms of making policy settings, establishing corporate strategy, assurance that actions support strategic positions or the process of monitoring investment decisions and capital investment (Ciampi, 2015). Present secondary research will be explains the different roles of Corporate governance in different functional areas.

Further, research will also look upon the issues that Tesco facing in some areas such as in making financial reporting, contribution to society, diversity drive, or in board independence. Further, Literature review also covered the recommendation strategies for the company that they could be adopted to make its functional performance better and more efficient.

As per the author Corporate governance play a crucial role in large retail sector in order to keep policies stable, to sustain in the market, financial stability, maintained social corporate responsibility etc. Present research will help to know more about corporate strategies and how they affect the overall company profile.

As per the author Corporate governance are basically associated with principal agent or agency problem. The term corporate governance has been used in different boundaries in order to protect the company policies and structure. On the other hand, it also impacts on the firms functions due to company improper investment policies as well.

According to author they argued the statements corporate governance and strategy include many elements that affect business directly and indirectly such as external stakeholders, internal stakeholders, accountability, and corporate social responsibility.

RESEARCH METHODOLOGY

Research Philosophy

Research philosophy is a vast concept that describes the topic in a detailed manner. It has two types i.e. Interpretivism and Positivism. Interpretivism philosophy interprets elements of the study and get involvement of human interest. On the contrary, positivism philosophy is based on factual knowledge that comes from observation, measurements, etc. Present study will be based on Interpretivism philosophy that helps to know more about the corporate governance.

Research Approach

Research approach is another significant element of research methodology which are mainly of two types i.e. inductive and deductive. Deductive approach tests the validity of assumptions in hand. Besides, inductive approach design helps to determine the better decision making approach. Basically, inductive approach helps to contribute to the emergence of new theories and generalisation. Present research will be uses inductive approach that helps study to observe and applied some theories to get the proper result outcomes.

Research Design

Research design are considered as qualitative and quantitative research methods. It refers to the choice of specific methods of data collection and analysis. Research design is divided into two groups i.e. exploratory and conclusive. Exploratory is conducted to determine the nature of the problem, exploratory research is not conducted to provide conclusive evidence but helps to understand the problem. On the contrary, conclusive design implies to generate findings that are practically useful in reaching at conclusion or decision making. Present study uses exploratory research design for making the report more realistic.

Data Collection

Data collection is the process of collecting information from all relevant sources. It helps to find the answers, search about problem and gain research outcomes. This has been divided into two types i.e. primary and secondary data methods. Primary method is again divided into two techniques which are qualitative and quantitative. Quantitative technique is based on the mathematical calculations in various formats. Qualitative research technique do not get involved in mathematical calculations. They are more closely associated with words, sounds, feelings and emotions.

Secondary data collection method is closely related with the sources like internet, books and journals etc. Present study will use both primary and secondary techniques to determine the facts of corporate governance strategies.

Data Sampling

Sampling is another research method that is helpful to select population members for conducting the study. Due to high ratio of population, sampling method helps to resolve that issue and matter of fact. Here, two types of data sampling methods are there i.e. probability and non-probability. Probability sampling method is the process that helps to give equal chance to everyone to participate in the study It includes, simple, stratified systematic methods. On the other hand, Non probability selected participants on non-random manner, therefore not each population member has a chance to participate in the study. Present study uses simple random sampling by taking 30 employees randomly of Tesco to undertake the data regarding usefulness of corporate governance.

Data Analysis

Data analysis is the method or methods that helps to analyse all data and the overall process of analysing the collected information. According to matter of fact, the main purpose of data analysis is to look at what the data is trying to tell us. It helps to observe data by watching or observing collected data properly. Besides, there are two types of data analysis methods i.e. qualitative and quantitative. Qualitative data analysis refers to non numeric kind of method to be used for data analysis such as interviews, notes, video etc. besides, quantitative data analysis method expected to treat data into numeric manner. Present study has been based on qualitative method by using questionnaire survey style.

Ethical Considerations

Ethical considerations in research are critical, ethic norms or standards for conduct that distinguish between right and wrong. It helps to know the difference between acceptable and unacceptable behaviours. Ethical consideration protects the research from unethical implications. There are some ethical principles which are mandatory for researcher to adopt while conducting research, it helps researcher to get ethical outcomes without involving any fraud. Investigator also needs to give respect to the collected data and take consent from all the participants prior to the study. Adequate level of confidentiality of the research has to be ensured.

SUMMATIVE ASSESSMENT

INTRODUCTION

Corporate governance is a most crucial management practices that helps to improve company performance and reputation in the market (Wrigley and Lowe, 2014). Accounting has got a lot of attention this past year for TESCO. Present study will be based on the issues or problems that company is facing in corporal governance. Corporate administration is term that helps to describe balance among participants in the corporate structure who have an interest in way in which corporation runs such as executive staff, shareholders, and members of community. This term has given direct impact on profit of company and reputation in the market as well. Present report will be discussing the issues and problems that Tesco is facing and their impact on business policies (Jacoby, 2018). In the company manager and investors both needs to understand the value of corporate governance in order to ensure proper functioning.

Besides, report is also explaining the role of corporate governance and strategy in terms of maintaining financial stability, corporate social responsibility and profit growth. However, study covers all essential subject related to theme which undertakes important aspects. Further, study will be based on different research methodologies that help to conduct research in an appropriate manner.

Corporate governance and strategy in large retail sector has undergone intense structural innovations that creates changes in the development strategies and governance of large scale retail companies. It helps to give big opportunities for the firm to get the best outcomes and goals (Jones, Comfort and Hillier, 2016). Besides, further study explained the important aspects of corporate governance and strategy to ensure proper image in the market.

Corporate governance in strategic management refers to the set of internal rules and policies that helps to identify the company direction. Corporate governance role is to control company to establish effective operations. Corporate governance includes so function to keep quality in ethical conduct towards customers, vendors, employees and shareholders, input into the organisation structure, etc. (Sullivan and Gouldson, 2017).

Corporate governance directly impact on the climatic conditions on the structural change of the company. The main purpose of this present study is to understand and compare the governance structure of three democratically governed grocery retail businesses. Besides, this present research helps to identify the impact of corporate governance on the retail businesses.

It is the responsibility of Tesco to adopt all necessary corporate governance policies to ensure the proper execution functions. Besides, present report also describes the corporate pressure that company bears into their corporate life. Overall, it helps to control the better goal oriented task and that affect the major challenging and better common services.

Company Overview

Tesco is one of the British best multinational retail store that deals with different grocery items such as supermarket, hypermarket and convenience products or services. Tesco is the third largest retailer company in across world (Governance issues at Tesco, 2018).

Aim: “To identify the issues of corporate strategy and governance that impacting upon organisation functions” – a case study based on TESCO.

Objectives

  • To identify the role of corporate strategy and governance
  • To ascertain the issues of corporate strategy and governance within TESCO
  • To recommend strategies to get over from corporate strategy and governance issues

Research Question

Q. What are the roles of corporate strategy and governance ?

Q. What are the certain issues of corporate strategy and governance within TESCO ?

Q. What are the recommended strategies to get over from the barriers of corporate strategy and governance issues ?

Scope of the study

Government provides best and effective services or policies to provide the best future development. Main purpose of this study is to provide the wide range of effective policies to make best and it includes functions such as structure authority, balanced responsibility with providing accountability to stakeholders at all levels. It is essential to keep corporate governance or to maintain the profitability with sustainability.

Present study main purpose is to provide the effective Corporate governance policies for Tesco to develop effective environment for the company. Such as external stakeholders is an important part of corporate governance that affect company directly or indirectly such as suppliers, vendors, community. Organisation needs to maintained their relationship with external stakeholders to get a high value for a business. Besides, importance of this corporate governance and strategy is also needs to take care of internal stakeholders, Tesco structure must be incorporate a focus on its internal environment. Build a strategic relationship important for the company to ensure long term success of the business including profitability.

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LITERATURE REVIEW

Theme 1: To identify the role of corporate strategy and governance.

According to author, there are many roles of corporate governance that help in decision making process to get the best output results and goals. Boards have increasingly become more focused on corporate shareholders. Corporate governance in strategic management plays an important role in policy setting to direct control the business functions. It makes decision with the helps corporate boards and executive committees is to establish and enforce policies deemed. Policies includes all code of conduct related to buying, selling, ethical rights towards, customers, vendors, employees and shareholders. On the contrary, due to fails to adopt all ethical implications is getting affected the reputation of Tesco.

As per the Flammer and Luo, 2017 Establishing corporate strategy is the another role of corporate governance and strategy. Corporate structure of the company must be clearly define the purpose or object of the company. If the Tesco aiming to get the customer satisfaction and earn profit revenue. For that, Tesco needs to make strategic business plan, strategic plans, financial allocations and proper input variables top get that goal. Besides, due to negligence and improper functioning performances might be giving wrong impact on the objectives or goals. Tesco has to acquire sufficient policies and ethical consideration to protect future uncertainties situations.

As per the suggested Devin and Richards, 2018 monitoring investment decisions and capital investments is the another role of corporate governance and strategy which plays an important role to measure the financial statements of the company and to guide the prudent investment of funds to maximize that income and returns. Investment decision making approach is more helpful to develop the better leading performance goals. Corporate governance main focused on the people leading charge. Accountability to stakeholders is the another function or role of corporate governance that focused on stock shareholders, can sometimes become hereto fore unconsidered.

In order to governance perspective, accountability while often focused on stock. The main purpose of corporate governance is to manage the all accountability services of shareholders. Without proper governance and code of conduct, it is not necessary that managers would make proper decisions in their own interest. With the helps of proper company policies managers of Tesco performs far better work in proper disciplinary manner. Company can acquire several benefits from this corporate policies. It helps to maintained employees in proper align manner, firms with good corporate governance models can find easier to attract productive financing because they are perceived as being more accountable.
As per the Clark and Wójcik eds., 2018 argument on corporate governance that. There are some drawbacks of corporate governance through which might be company facing hurdles and conflicts. There are so many policies and legal compliances that different companies needs to adopt. Corporate governance also impacting upon the image if company fails to implemented properly. As per the Formentini and Taticchi, 2016 corporate governance is also a tool of risk mitigation. It helpful for Tesco to protect company from corporate scandals, fraud and the civil and criminal liability of the organisation.

According to Jacobs and Singhal, 2017 This process of risk mitigation can be a more fruitful for enhancing the company market image in front of shareholders, investors, employees, customers etc. Corporate governance play a crucial role to keep company honest and out of trouble. On the contrary, if corporate governance down, then company breaks its profit, lost customer interest, public image and market reputation as well.

Theme 2: To ascertain the issues of corporate strategy and governance within TESCO

According to author, food retailer sector are always been faced troubles in services. From last few months later, Tesco admitted that it had over stated its half-year profit by £ 250m, which raises the question against Tesco. The reason behind situation is to implement inappropriate accounting policies. For Tesco, it becomes necessary to adopt productive corporate governance and strategy to make proper decision making approach. As per the author, in 2014 Tesco had no executive director with having good experiences. This is the weakness behind weak corporate policies that impact negatively on the company reputation. UK super market industry is dominated by big four organisations Sainsbury's, TESCO, Asda, Morrison. Contrary, with high profile marketing supermarkets are M&S, Waitrose, Aldi and Lidl which are famous from his brand image, customer loyalty and transparency in business strategies.

According to Jacobs and Singhal, 2017, food retailer sector are always been faced troubles in services. From last few months later, Tesco admitted that it had over stated its half-year profit by £ 250m, which raises the question against Tesco. The reason behind situation is to implement inappropriate accounting policies. For Tesco, it becomes necessary to adopt productive corporate governance and strategy to make proper decision making approach. As per the author, in 2014 Tesco had no executive director with having good experiences. This is the weakness behind weak corporate policies that impact negatively on the company reputation. UK super market industry is dominated by big four organisations Sainsbury's, TESCO, Asda, Morrison. Contrary, with high profile marketing supermarkets are M&S, Waitrose, Aldi and Lidl which are famous from his brand image, customer loyalty and transparency in business strategies. successful business that helps business to sustained over the longer term. It is the responsibility of board of directors to maintained the highest standards of corporate governance in its management of the affairs of Tesco. Overall, it helps to make the property and best sourcing leading effective goals. Moreover, Tesco provides the most prominent services to their customer at best possible rate. Apart from that, it helps to discover the better services growth and best leading performing task.

As per the Jacobs and Singhal, 2017 It is the role of board of directors for ensuring that Tesco activities are reflecting good culture towards the work goals. Apart from that, it also helps to sustain the long term productivity and best leading target market performance. Tesco values supported by the good code of conduct of the businesses that makes standard of the company up and most leading performing situation for the company. In terms of Tesco working environment, employees are more happy and satisfied with the company environment. Incorporating good corporate governance and strategy would help company to get employee long term stability and productive outcomes. Tesco operate wider governance framework to operate different function and responsibilities. Overall, it helps to discuss the better form of services and best leading goals in order to meet the needs of the company better performance. As per the Jacoby (2018) Tesco governance taken the best level of policies and framework that defines the clear direction to make better decision making approach. Tesco adopts the best framework to run business and also delegate roles and responsibilities to employees. Overall, Tesco faced many issues during their life of business such as competition issues and strategies for navigating the challenges faced by the business (Corporate governance report. 2017). On the other hand, Tesco needs to apply productive internal framework to manage rather than eliminate the risk of failure to achieve business objectives and can only provide better services to customers. Overall, To get over from those corporate governance issues, Tesco needs to make innovative and creative product or services for long term survival growth suggested by Jacoby (2018).

Theme 3: To recommend strategies to get over from corporate strategy and governance issues.

As per the Formentini and Taticchi, (2016), corporate strategy is the tool that helps to diversified company functions and policies. It makes the best productive environment within the working place to ensure confidence and business integrity which is essential for companies that need to access equity capital for long term investment. As per the Ciampi (2015) there are some corporate strategy that Tesco could be adopts such as Universal strategy. This approach helps to approach new ideas, experience, goals, experience, memories, perceptions, expectations for taking a particular action plan. Company needs to focus on the overall criteria such as to keep maintained the better form of goals. Tesco also needs to adopt all national, internationals or global policies. All these universal goals can help to delegate the better suitability of technological, political or psychological factors.

As per the Clapp and Scrinis, (2017), Keep changing environment and adopts new policies will also make the good corporate governance environment within the company. In Present competitive market Tesco needs to adopt all changes and new strategies to sustain the customer interest and business stability ratio. Change management helps to reduce uncertainties, threats and competition constraints. In order to explore the corporate management opportunities, only last resort is the only option to make better chargeable performance. On the other hand, Company also needs to be very aware about the government rules and regulation that they imposed for businesses. Otherwise, company has to face government implications and punishments as well.

As per the Jacoby (2018) minimizes competitive disadvantage is the another corporate strategy that company could need to be adopt. Overall, it helps to keep the better environmental goals and better decision making approach. Company can also add some values and qualities to enhance the competitive advantage goals. Tesco can also develop new product segments, creative services etc. it helps to attract more number of customer attraction and major task.

According to Rees and Smith eds., (2017), Tesco needs to recognize good governance. For that, Board of directors of the company needs to make balance conformance with performance aspects of the boards work it makes the better services and makes the best imparting decision making approach. Besides, to keep the company better services and growth, Tesco also requires overall it helps to clear out the things that helps to reappoint the best possible action.

There are so many other strategies that company needs to adopt such as recognise that the governance of risk is a board responsibility. Tecso needs to make sound system risk oversight strategies to support better decision making.

RESEARCH METHODOLOGY

Research Philosophy

Research approach is the most required element of research methodology which helps to study in deeper manner. There are two types of research philosophy Positivism and Interpretivism. Present study has been based on Interpretivism to interpret the data by involving the human interest into a study.

Research Approach

Research approach is the another major element of research methodologies which divided into two parts deductive and inductive. Deductive approach is the process of validity assumptions in hand whereas inductive approach which contributes to the emergence of new theories and concept (Mackey and Gass, 2015). Present study has been using inductive approach to apply new concepts and theories of corporate governance and strategy.

Research Design

Research design is the set process or tool to process the better productive design. Qualitative and quantitative research methods. Besides, there are two types of research design exploratory and conclusive. Exploratory research aims to explore specific aspects of the research area. Besides, conclusive is the design which explore the answers of the research questions. Present study uses exploratory research design.

Data Collection

Data collection is the process to collect data or information for conducting study and address the research problems. Data collection provides two methods primary and secondary data collection techniques (Taylor, Bogdan and DeVault, 2015). Present study uses both primary and secondary method to collect data from observation, interviews, questionnaire and internet, journals respectively. On the other hand, secondary method of data collection is the process where researcher collects data from internet, books and Journals. Present study collects secondary research data by followed literature review method.

Data Sampling

Sampling is the method or process to select of population randomly and specifically. There are two types of random sampling method probability and non probability. Present study uses the probability sampling method in which they opt simple random sampling and 30 employees of Tesco to conduct a survey or study (Silverman. ed., 2016). On the other hand, Non-probability sampling in which not all participants has a chance to get  involved in research process. It has been decided on a particular group basis. 

Data analysis

After collection of data researcher needs to analyse data into specific manner. It helps to define the best productive approach in order to meet the needs of the problem statements of research. There are two types of data analysis qualitative and quantitative data analysis tools. Present study has been based on qualitative method of data analysis with the help of questionnaire technique. On the other hand quantitative data analysis method expected to collect data or interpret that into the mathematical manner. It involves calculations and mean mode median (Ledford and Gast, 2018). Present uses analysis method which is qualitative is more flexible and suitable to adopt.

Ethical considerations

Ethical consideration is the tool to protect research against uncertainties and risk, it helps researcher to adopt ethical changes and effective tools to get over from better management techniques. In research process researcher always needs to participant to harm in any ways whatsoever. Ethical consideration helps researcher to specified the most important part of the research (Smith, ed., 2015). Ethical consideration also specified researcher to take consent of all participant by obtained participant prior approval form. This overall process reduce the chances of risk and fraud. Ethical consideration helps to remove all miscommunication process that ensured confidence and successful outcome results. In order to address all aspects of ethical consideration in an effective manner. Researcher needs to followed all process or principle rules of collecting data method or information. Overall, process makes research process more effective and challenging.

DATA ANALYSIS

Questionnaire

Name :

Occupations :

1. What is your gender ?

· Male

· Female

2. Which governance system has the company set up ?

· One tier system

· Two tier system

3. Do the company acts define criteria for required expert and professional knowledge and experience as well as other conditions ?

· Yes

· No

4. Is Corporate governance and strategy impact on the business functions ?

· Yes

· No

5. To what extent do you participate in corporate governance decisions making in the following areas ?

· To determine the strategic objectives

· Putting right system on the right place

· Designing methods of financing the departments

· None of them

Theme 1: Gender of Participants

1. What is your gender?

Frequency

Male

20

Female

10

Theme1

 

Interpretation : As per the analysis of this survey and questionnaire, it has been concluded that in Tesco there are 20 males and 10 females. It has been analysed that, there are large number of male staff holding the function of Tesco rather than females. Besides, it has been analysed that there are less number of female staff who control he functions of Tesco.

Theme 2: Governance system that company set up

2. Which governance system has the company set up ?

Frequency

One tier system

5

Two tier system

10

Multi tier system

15

Theme2

 

Interpretation : On the basis of this observation or analysis process. It has been found out that, out of 30 employees 10 were suggested that company adopts two tier system in which management body is appointed by the supervisory body. Besides, 5 respondents suggested that, Tesco adopts one tier system in which executives are appointed by the board of directors. Contrary, large number of employees has been suggested that, Tesco is one the biggest retailer who first adopt multi tier system into their function activities.

Theme 3: Company acts define criteria for required expert and professional knowledge and experience as well as other conditions

3. Do the company acts define criteria for required expert and professional knowledge and experience as well as other conditions ?

Frequency

Yes

20

No

10

 

Theme3

Interpretation : As per the collected survey output, it has been cleared that 20 employees were suggested that, yes company define proper criteria for requiring expert and professional knowledge for better performance task. On the other hand, 10 employees of them were suggesting that, company does not adopt any special and expert knowledge to handle any corporate governance policy.

Theme 4: Governance and strategy impact on the business functions

4. Is Corporate governance and strategy impact on the business functions ?

Frequency

Yes

25

No

5

Theme4

 

Interpretation : As per this observation process researcher has been found out that, employees are well aware about the role of corporate governance and better style of growth factor. Overall, respondents suggested that company needs to adopt effective corporate policy in order to reduce the uncertainties and ineffective situation. They suggested that company largely contribute in the social activities and give high quality of services to their customers. It helps TESCO to get good governance response and fluency in functioning. On the other hand, few respondents of them are give negative response towards the corporate governance. They suggested that corporate governance is not giving that much impact on the overall performance of the company.

Theme 5: Participate in corporate governance decisions making in the following areas 

5. To what extent do you participate in corporate governance decisions making in the following areas ?

Frequency

To determine the strategic objectives

10

Putting right system on the right place

10

Designing methods of financing the departments

10

None of them

0

 

Theme5 

Interpretation : As per this analysis researcher have found out that, how much employee participate in the activity of corporate governance and in decision making process. Employees involvement are very much important for the company to make better policies and outcomes. Productive employee involvement reflect the good environment at the working place. Such as out of all 30 respondents. 10 employees said that they were engaged itself in determining the strategic objectives. Besides, 10 of them said that, they were involved in putting right system or function as per the requirements. On the other hand, 10 of them were suggested that they engaged with distinguish method of financing the department.

Related Sample- Corporate Governance

RECOMMENDATION

As TESCO which is one of the largest leading company in retail sector also faces many issues related to corporate governance. Initially the company's process of billing is quite slow and not up to the mark such that many customers faces issues of wrong billing at the time of cash counter which clearly shows that it has poor online system (Schütte, 2017). Due to poor billing facility many customers are dissatisfied and as a result company overall growth may be decline. Hence, to overcome such issues, TESCO should uses some ways which are mentioned below that might be help to overcome those challenges of governance in a business enterprise. This recommendation are as follows :

  • Cost of the retail sector products and services must be low and cheap at initial phase so that it will help or can prove to be investment in long term run if imply at appropriate time and situation. Simplified regulations will definitely help to encourage high standard of corporate governance and further it will assist to reduce the conformity cost of the offered products and services.
  • Corporate governance main aim is to not specified or to fulfil the legal requirements but to also makes sure that its commitment on managing the transparently in order to maximizes the shareholders values of TESCO (Pederzoli and Kuppelwieser, 2015).
  • It has been further analysed that retail sector faces tough competition with its rival companies and as the competition increases the adaptation of digital technologies will shorten and as a result the company did not provide best services to their customers. Therefore, it is quite necessary to adopt all new strategy as well as to cope up with new digital techniques which will further help to improve financial condition of a company (Arrigo, 2018). Hence in this dynamic environment, the system of corporate- governance needs to be upgrade in respect to time and must change the economic and industrial climate of a country.
  • For healthy competition and provide better quality of products to their customer it is quite necessary for corporate- governance of unlisted companies that should be bought in order to make a competition better. Further the standard and incentives are also required for mid size new entrant in order to maximizes their market share.
  • Another issue is crisis of management which is also faced by TESCO which can be overcome by using all advance digital technologies. As today's world is entirely depend upon the digital technologies so it is quite necessary for a company to cop up with digital techniques and also enhance their distribution channel as a result it will help to sustain its brand image in market (Ndraha and et.al., 2018).
  • In order to sort out data driven decision, it is to be recommended to TESCO to comply with all laws and regulation in order to keep their entire data confidential as well as further this will also require to invest in some new latest technologies and the most importantly it has to change the way how business will operates their operations (Schramm-Klein, Morschett and Swoboda, 2015).
  • The company's internal culture should be best in the terms of employee relationship and even many times promoters also pay with investor's money and as a result they gain the market share and then disappear from the country. Therefore, it is quite necessary to keep monitoring all the laws and regulations that TESCO must be comply with in order to keep its brand image sustain in the market (Lange and et.al., 2018).
  • As the retailing sector contributes a big amount in the economy of UK therefore it is necessary for TESCO to keep monitoring the quality of products which are provides to their customers. The manager of a quoted company should upgrade their outlets and also improve the ambience in the shops and further it also provide the value added services in order to enhance the customer base as well as maximizes the profit.
  • Each and every activity in a store must be lead to customer satisfaction such that the company should offer products at low prices with high quality, high ethical standards and eco- friendly products with prompt complaint handling, best layout of their store and least billing errors (Taub, 2018). If these points will be keep in mind then the company will definitely earn a good profit and which further help to take a business to next level of success.
  • A loyal customers reduces the cost of retailer and to increases the loyalty of their regular customer, company has to make many loyalty programs that includes bonus point , free insurance, preferred customer status and some cash back schemes which help to satisfy the customers. TESCO even can uses variety of other schemes such as buy one get one free schemes in order to attract wide range of customers.
  • As the company offered online services for the welfare and convenience of their customers but it should be upgrade with the passage of time (Oh and Polidan, 2018). Such as shipping charges should be free so that customers will enjoy their shopping and it will help to enhancing their customer as well as market share (Ledford and Gast, 2018). Even by upgrading the product portfolio and changing the layout of will help to feel the best experience of their shopping and as a result it will help to maximize the profit as well as productivity.

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CONCLUSION

By summing up above report it has been analyses that TESCO faces some issues related to customer dissatisfaction because of facing errors in bill. Even the online system of a company is not up to the mark which should be upgraded. By using Literature Review, the report presents the importance and role of corporate- governance that will help to provide best outcomes for the company. Further project also concluded that TESCO also faces some issues which directly affect company's overall performance. And it is quite necessary for a company to keep changing environment and adopts new policies which will help to make the good corporate governance situation. In addition to this, report also provide some recommendation which a listed company should also use in order to sustain its brand image in market.

REFERENCES 

  • Chkanikova, O. and Lehner, M., 2015. Private eco-brands and green market development: towards new forms of sustainability governance in the food retailing. Journal of Cleaner Production. 107. pp.74-84.
  • Ciampi, F., 2015. Corporate governance characteristics and default prediction modeling for small enterprises. An empirical analysis of Italian firms. Journal of Business Research. 68(5). pp.1012-1025.
  • Clapp, J. and Scrinis, G., 2017. Big food, nutritionism, and corporate power. Globalizations. 14(4). pp.578-595.
  • Clark, G. L. and Wójcik, D. eds., 2018. The New Oxford Handbook of Economic Geography. Oxford University Press.
  • Coe, N., 2014. Missing links: Logistics, governance and upgrading in a shifting global economy. Review of International Political Economy. 21(1). pp.224-256.
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Global Assignment Help Corporate Governance and Strategy in Tesco. [Internet]. Global Assignment Help.(2022), Retrieved from: https://www.globalassignmenthelp.com/free-samples/business-plan/ibu5gw-corporate-governance-and-strategy-in-tesco
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