Tesco was founded in 1919 by a man called Jack Cohen who

Tesco was founded in 1919 by a man called Jack Cohen who was a sole trader. It started as a group of market stalls. The name Tesco first appeared in 1924 after Jack Cohen bought a shipment of tea from T. E. Stockwell. He combined the initials of T. E. Stockwell with the first two letters of his last name (CO) and that how the name Tesco was born. As his business became more successful he needed more investment to expand so he changed his ownership to a PLC to help him do this. His store then opened in 1931 in Burnt Oak, Barnet. Tesco’s now has over 2,900 stores and 300,000 employees across Europe, Asia and North America Ownership and liability Tesco is a public limited company (PLC). They sell and trade shares to the public. This is an advantage because they have a limited liability for their shareholders and can raise a large capital sum because there is no limit to the number of shareholders. The disadvantages of being a PLC is that in order to make business decisions, Tesco’s has to confront company directors and major shareholders.i smell bum The Business can also be taken over if somebody buys or owns 51% of the shares. Purpose Tesco’s main purpose is to keep their customers happy and supply them with quality goods. Their hope is to earn the customers loyalty so that they continue to shop with Tesco. They achieve this by providing good product prices and good customer service. Tesco offers a wide range of products and services such as fresh produce, household items, clothing, animal supplies and insurance. Tesco also offers loans, mortgages and credit cards. They are promoted through leaflets and on the company website. Sector Tesco’s is a retailer, they belong to the tertiary sector. This is because they provide goods and services to the public. Services may include transportation and the distribution and sale of goods from the producer to the consumer (customers)Tesco’s is an international business with stores in thirteen countries across Asia and Europe. They have a total of 6,800 stores. Tesco’s is a large company with 450,000 employees. 300,000 of those employees are currently working inside of the United Kingdom. Reasons for success Tesco’s has been especially successful due to its ground-breaking brand. It has a reputation for value, low costs and for their main focus being the customer. This markets image value and affiliations have helped the organization to venture into new divisions and markets. This helped them move from being only a British based business to a international business. Stakeholders interest in business According to Bite Size BBC, “Stakeholders are individuals, groups or organisations that are affected by the activity of the business”. In Tesco’s, the stakeholders can be divided into internal stakeholders and internal stakeholders. The internal stakeholders would be owners, employees, and managers. The owners are the most important stakeholders. They make a profit if the business is successful. Employees are interested in job security and promotion aspects. They also want to earn a decent wage and work in pleasant conditions. For example Managers have greater concern. If something goes badly within the business they will most likely get some of the blame, but if something goes well, they will take some of the credit. The external stakeholders are customers, suppliers, local community, the government, and creditors. The customers expect high quality products and services at low and affordable prices. Without the customers, a business would not be able to make any profit. Suppliers are the people and businesses that supply a business with the raw materials. The business buying the raw materials provides the supplier with their income. If the business can not pay the supplier quick enough, the supplier may have cash flow problems. That is why the supplier wants to be paid a fair price and paid on time. The local community sometimes depends on big businesses to provide jobs for the local people. The community could also suffer if the business cause noise and pollution. Shareholders are one of the most important stakeholders at Tesco’s because they have invested their money and time into the growth of the business. The shareholders main interest in Tesco is to see their share of profit increase and the value of the business increase. On the other hand, customers are also major stakeholders. They want to get the best value of product for the lowest price. The business would not be able to function without both of them. That is why Tesco’s must keep both of them happy. An example of when Tesco’s did not keep their shareholders happy was when they gave false and misleading impression about the value of their shares. This ended up in Tesco’s having to pay their investors 90 millions pounds and a 129 million pound fine for their mistakes. Cancer Research UK Cancer research UK is a cancer research and awareness charity based in the United Kingdom. It was established on the 4th of February in 2002 by the merger of The Cancer Research Campaign and the Imperial Cancer Research Fund. They raise money to fund scientists and doctors to research cancer in hope of finding a cure. Ownership and liability Cancer Research UK is a charity run by a board of trustees. They are responsible for ensuring that the charities main objectives are carried out and that the money and assets are used only to reach the goals and objectives. Purpose Cancer research UK is dedicated to finding a cure to cancer through research and to save lives. They want to find ways to prevent, control and eliminate cancer as a whole. They are able to do this by raising money through donations, community funding and events to fund research and give care and support to suffering cancer victims. In 2017, Cancer research UK raised 634 million pounds. £192 million came from donations and gifts. £182 million came from over 6,000 people who left cancer research money in their will. Charity shops raised £104 million by selling merchandise. £101 million came from royalties and grants. £49 million was made from hosting events such as Race for Life and Stand Up To Cancer. The remaining £6 million came from investments and sales of rented properties. About 40% of the income goes into laboratory research relevant to all types of cancer. They carry out their research in institutes, universities and hospitals all around the UK. Cancer research UK currently has 40,000 volunteers working around the UK. This makes them a large charity. Reasons for success Cancer research UK has achieved one of their goals of rising the survival rate of cancer. In the last 40 years, the survival rate has doubled. They have achieved this by increasing the amount of income that they spend on research. They have also have an increasing yearly income. This is due to their fundraisers and their increasing amount of exposure to the public. Stakeholders Even though Cancer research UK is a charity, they still have stakeholders. Some of these stakeholders are directors, chief executive, donors, trustees, volunteers, doctors, and nurses. The director is the person who is usually chosen by the board of directors to carry out the wants and wishes of the board. This makes the director a very important stakeholder because it is his responsibility to make sure that the voices of the board of directors are heard and that their wishes and goals are met. It is also the directors job to support the work of the board committees. The board of trustees job is extremely important. It is their job to make sure that all of the funds and donations received are spent on the correct things. For example, at Cancer research UK it is their job to make sure that the funds are spent on research and other things that will help them reach their goal of increasing the survival rate of cancer victims. It is also their job to set the charity’s strategic direction. Volunteers are the most important stakeholders for a charity. They give up their time (for free) to provide help to the charity. As they are working for free, this means that Cancer research UK has more money to put towards research and assets. Donors are the people that donate their money to the charity.

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