Business review
International
How do you run successful businesses in so many countries?
- Philip Clarke Asia, Europe & IT Director
Core UK
Is 'Every Little Helps' still important?
- David Potts Retail & Logistics Director
Non food
Lots of high street retailers have been cutting prices. Can I still get the best deals at Tesco?
- Richard Brasher Commercial & Marketing Director
Retailing services
Can Tesco really offer the same value as my bank?
- Andrew Higginson Chief Executive of Retailing Services and Group Strategy Director
Community
How much do customers really care about community when they are struggling with the recession?
- Lucy Neville-Rolfe Corporate & Legal Affairs Director
People
Is training and developing staff still a priority?
- Tim Mason President and Chief Executive Officer, Fresh & Easy
As Group Finance Director, what are your priorities at the moment?
- Laurie Mcllwee Group Finance Director
This Business Review analyses the performance of the
Tesco Group in the financial year ended 28 February
2009. It also explains other aspects of the Group’s
markets, results and operations, including strategy and
risk management.
The Directors present their Annual Report to shareholders on the affairs of the Group and Company, together with the audited financial statements of the Company for the 53 weeks ended 28 February 2009.
International
Tesco is an international retailer and wherever we operate we focus on giving local customers what they want.
Core UK
The UK is our biggest market and the core of our business. We aim to provide all our customers with excellent value and choice.
Non-food
Our aim is to be as strong in non-food as in food. This means offering the same great quality, range, price and service for our customers as we do in our food business.
Retailing Services
Tesco has followed its customers into the growing world of retailing services, aiming to bring simplicity and value to sometimes complex markets.
Community
Tesco is a responsible business. We aim to take a leadership role in tackling climate change and believe in playing a positive role in all the communities we serve.
People
Our 470,000 people and they have worked harder than ever to deliver an ‘Every Little Helps’ shopping trip.
We operate a balanced scorecard approach to managing the business that is known within the Group as our Steering Wheel.
We operate a balanced scorecard approach to managing the business that is known within the Group as our Steering Wheel.
This unites the Group’s resources and in particular focuses the efforts of our staff around our customers, people, operations, finance and the community. Its purpose is to ensure Tesco puts appropriate balance into the trade-offs that need to be made all the time between the main levers of management – such as delivery of customer metrics, operations measures and financial measures.
It enables the business to be operated and monitored on a balanced basis with due regard to the needs of all stakeholders. For the owners of the business, it is simply based around the philosophy that if we look after customers well and operate efficiently and effectively, shareholders’ interests will always be best served by the inevitable outputs of those – growth in sales, profits and returns.
