Tesco is a multinational retail corporation. It is a UK-based retailer company, having headquarters in Welwyn Garden City, England. It deals in diverse retail areas like books, electronics, furniture, clothing, petrol, toys, internet services, telecom, etc. It has expanded its business in many countries like North American countries, Asian countries like Malaysia, India, China, etc., and European countries. Read more about Tesco’s Mission Statement, vision and core values.
Tesco has set its vision, mission, and core values statements. The vision of the organization represents its future target of the business. It helps in preparing strategy planning steps to achieve the organization’s goals. The mission specifies the approach to fulfill the vision of the organization. It states the purpose of the organization. The values represent the behavior, work, and ethics of the organization that can make a positive contribution to society.
Effectiveness of Tesco’s Mission Statement, Vision, and Core Values
Tesco is one of the biggest retailers in the world. Leaders of Tesco have set high standards of values and goals for their business. The organization believes in providing the best to its customers. It believes in long-term and clear success strategies. The organization puts its customers, associates, and business partners at the middle of its business. It believes in providing its customers with a wonderful shopping experience, be it online or be it offline.
The mission, vision, and core values are correlated with one another. These statements serve the purpose of the company. These statements define the strategies to be followed to achieve future goals. With the help of these mission, vision, and core values statements, Tesco aims to be a responsible organization. These statements enable the organization to become a trustworthy retailer for the customers. These statements enable the organization to sustain itself in the competitive market. Read more about Tesco’s Mission Statement.
The mission, vision, and core values are discussed in this article, which enables the organization to become a crucial factor in the retail industry and allows all shareholders, stakeholders, and communities to develop.
The mission statement of Tesco is “We make what matters better, together.”
The mission statement defines that the organization aims to create value for its customers and its business associates. It states that everyone is equally responsible for the success of the company. It aims to provide everyone with an environment where all can know their potential and work for the growth of the organization.
The Tesco’s Mission Statement, explains the following characteristics of the organization-
- The organization does not compromise on the well-being of its employees and customers.
- The organization maintains the high quality of the products.
- The organization stocks only the best from the farm groceries so that the health factor is not compromised.
- The organization believes in maintaining utmost hygiene.
- The organization strives to provide its customers with better quality of services.
- The organization works to improve the condition of society.
- The organization aims to make the purchasing power of the people easy by the construction of supermarkets at walking distances.
- The organization aims to deliver the products ordered by the customers as fast as possible.
- The organization aims to provide its customers with better products and services.
- The organization aims to reach the associated communities and partners with better ideas of growth and development.
- The organization aims to make an impact in the retail sector.
The vision statement of Tesco is “To be the most highly valued business by the customers we serve, the communities in which we operate, our loyal and committed colleagues and of course, our shareholders.”
The vision drives the business of the organization. The vision statement defines that the organization believes in providing high shared value to its employees, customers, shareholders, and communities. The vision statement provides a benchmark for the organization. The vision statement helps to prepare strategies to achieve the goals. The vision guides the organization to constantly grow in the retail sector.
The vision statement explains the following characteristics of the organization-
- The aim of the organization is to become a global leader.
- The organization aims to expand its business all over the globe.
- The organization aims to find more opportunities and grow its business.
- The organization aims to gather more ideas to be innovative.
- The organization believes in adapting modern techniques to approach its customers.
- The organization aims to apply its skills to every corner of the globe.
- The organization aims to build a trust relationship with its customers.
- The organization believes in keeping itself loyal to the employees, customers, communities, clients, and business partners.
- The organization aims to inspire other industries with its work.
The core values of Tesco are-
- No one tries harder for customers.
- We treat everyone how we like to be treated
- We use our scale to be good.
Core Values Analysis
The core values serve the purpose of the organization. The core values are embedded into the organization to do the right thing. The organization, through its core values, aims to provide a better quality of life to its customers, making them enjoy an easier way of living. The core values enable the organization to become good producers so that consumers are benefited and gain trust over the organization. The core values help the organization to support the employees, business partners, and communities with which the organization works.
The core values represent the essence of the workplace. These values enable the organization to contribute towards the socio-economic development of people.
The core values of Tesco emphasize mainly on-
- Understanding people
- Respect others
- Provide help to people
The core values explain the following characteristics of the organization-
- The organization aims to understand its customers, employees, and shareholders better.
- The organization strives to understand what people what from it.
- The organization aims to meet the requirements of the customers.
- The organization believes that talking and listening to people can make the understanding process simple.
- The organization holds itself responsible for its employees too.
- The organization believes in approaching the needs of the people by innovative techniques.
- The organization encourages its employees to work always as a team.
- The organization encourages its associates to respect and trust one another.
- The organization encourages its associates to support each other.
- The organization encourages its associates to share knowledge with each other to benefit themselves and others.
- The organization aims to provide surplus food supplies to the needy.
- The organization aims to reduce any sort of food wastes.
- The organization believes in providing sustainable products to protect the environment.
- The organization aims to provide people with high-quality and affordable products.
- The organization believes in contributing towards the associated communities so the communities are benefited as well.
The mission, vision, and core values statements help in evaluating the performance of the organization. These statements are vital for the growth and development of the organization. These statements enable the organization to make great differences in the lives of the customers, communities, shareholders, and stakeholders. These statements enable the organization to do the right thing. These statements enable the business to be transparent.
The Tesco’s Mission Statement, vision, and core values statements help in protecting the image of the organization in the global market. Tesco strives to keep a positive attitude towards others. It is also committed to social responsibility as part of its core values execution. Under its commitments towards social responsibilities, it performs the following activities-
- It works to provide opportunities to numerous people to grow in numerous ways.
- It works on improving the health of the customers.
- It treats working on reducing food wastes as essential.
- It emphasizes responsible trading practices.
- It works on protecting the environment.
- It provides employment to many people.
- It provides support to the communities to grow with it.
Frequently Asked Questions
- How employees are benefited from the vision and values of Tesco?
Answer. Employees at Tesco are essentially benefited from the vision and core values of Tesco. Tesco provides an excellent work environment for its employees. Employees at Tesco have a wide range of opportunities to grow and develop in their careers. They are provided with numerous learning opportunities. They are encouraged to share knowledge among themselves and gain experience in related sectors. They are paid competitively based on their skills and areas of expertise.
- What are the three pillars of Tesco?
Answer. Tesco considers its customers, employees, and shareholders as its three pillars. The organization believes that shareholders are a part of it and together everyone should grow and develop with the benefits of the business. It treats all the employees with equal respect as it believes every employee is related to its reputation and holds an opportunity for fair treatment. It believes that customers are the ultimate source of its being. It thrives to provide its customers with high-quality products at a low cost.