Business Capstone Assignment Example | Topics and Well Written Essays - 2000 words

Business Capstone - concession ExampleTesco is therefore large grocery sell, with thousands of stores distributed in more than 13 countries Role of Tescos Vision, foreign mission and Stakeholders A firms vision and mission statements play an important role in developing consumer royalty (Besanko et al, 2009). Tescos vision statement reads Our vision is for Tesco to be most highly valued by the customers we serve, the communities in which we operate, our loyal and committed staff and our shareholders to be a growth company a new-made and innovative company and winning locally, applying our skills globally while the vision statement reads creating value for customers, to earn their life loyalty. Clearly, the vision and mission statements of Tesco focus more on the target market and not the products. They focus on the benefits that the customers are going to derive from the company and its products. Besanko et al (2009) argues that such statements highly touch on the emotions of the consumers. Consequently, they sum to building of loyalty among the consumers of the firms products. ... This helped the company to expand internationally. Also, the firm changed its strategies to focus on technology under Leahys leadership, which has marked a lot of success. The employees of this company have also contributed to the development of consumer loyalty by being hard working and always being positive to customers. Macro Environment The environmental or external factors that affect the decisions taken by Tesco are grouped into six categories as discussed below policy-making factors The current political issue affecting Tesco are the changes in corporate tax rate. The government of UK announce in the 2012 budget that it would reduce corporate tax by 1% for two consecutive geezerhood (2012 and 2013) from 24% to 22% (Tesco, 2012a). This will save this company a lot of funds and make it more financially stable. Economic factors The major economic issues affecting Tesc o currently are high unemployment causing a reduction in aggregate consumption. This has further restricted the growth of this company in UK (Tesco, 2012a). Social factors The main social issue affecting Tesco currently is the change in consumers lifestyle, leading to a change in tastes and preferences. Tesco has responded to this by developing a new product range called Clubcard in order to suit polar customer groups with different preferences (Tesco, 2012a). Technological Technology has a huge impact on the way blood line enterprises in all industries operate in the recent years. It has been playing as big role in shaping consumer spending habits. The internet, in particular, has opened a channel through which enterprises in the fare retail industry distribute their products to customers (Tesco, 2012a). The new technology has also led to the introduction of self-service checkouts in the food