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1、Tesco is one of the world's largest retailers with operations in 14 countries, employing over 500,000 people and serving millions of customers every week.How we competeEvery day around the world our customers choose where they shop. It is because customers can switch so easily that we have to co
2、nstantly work hard to earn their loyalty. Wherever we operate, Tesco competes on price, quality, range and innovation.In Turkey, at the end of 2010, price inflation of Tesco Kipa products was on average 5% below national consumer price inflation. These benefits are valuable to all customers, p
3、articularly to those on low incomes. In China, customers want reassurance on food quality. They want to know it is safe and hygienic. Tesco China has established its own food safety team, made up of quality control technicians and operational managers. This has helped us lead the way in improving fo
4、od safety standards in the country. This year in Central Europe we have launched the Extra store format. The new format has introduced to our stores a range of innovations, from self-service checkouts to retail services, such as pharmacies, opticians, and financial services. Many of these innovation
5、s are firsts for the country. Tesco Mobile was launched in 2010 in Slovakia and is now the biggest alternative Telecoms provider after Orange, T-com and O2. Our customers on the West Coast of America like the commitment our business, Fresh & Easy, has made to offering quality wholesome food at a
6、 good price. They like our assurance that own-band products have no artificial colours or flavours, no high-fructose corn syrup, no added trans fats and only use preservatives when absolutely necessary. Tesco Clubcard helps us compete around the world by rewarding loyalty. Clubcard is now in twelve
7、Tesco markets: UK, Ireland, Poland, Hungary, Czech Republic, Slovakia, Korea, China, Thailand, Malaysia, India and Turkey. Strong, fair, mutually-beneficial and long-term partnerships with suppliers underpins how we compete. The result is a sustainable and efficient supply chain. This means guarante
8、ed supply for our customers every day; supplier certainty and so confidence to invest in new products and innovation; and an export market for domestic suppliers in our international markets.Over 1500 of our UK suppliers have been with us for over 5 years. Our fish suppliers in Turkey have exported
9、1000 tonnes of sea bream, sea bass and trout a year to our stores in Poland, Hungary, Czech Republic, Slovakia and the UK. Tesco is the largest single customer for Hungarian suppliers. We work with 1200 suppliers, of who almost 1000 are Hungarian and export more than £100m of products fro
10、m Hungary to the UK (including TVs, lightbulbs, wine and sweetcorn)The Tesco Values sit at the heart of our business and help us deliver our core purpose to create value for customers to earn their lifetime loyalty. No one tries harder for customers Treat people how we like to be treated We use our
11、scale for good Our success depends on people: the people who work with us and the people who shop with us. Whether in Ireland or India, Turkey or Thailand, our Values let our people know what kind of business they are working for and let our customers know what they can expect from us.Tesco is an en
12、vironment based on trust and respect. We have learnt over the years that if customers like what we offer, they are more likely to come back and shop with us again. If the Tesco team find what we do rewarding, they are more likely to go that extra mile to help our customers.By living the values we cr
13、eate a good place to work and one where great service is delivered.Tesco was founded in 1919 by Jack Cohen from a market stall in Londons East End. Over the years our business has grown and we now operate in 14 countries around the world, employ over 500,000 people and serve tens of millions of cust
14、omers every week. We have always been committed to providing the best shopping experience. Today we continue to focus on doing the right thing for our customers, colleagues and the communities we serve.Our strategyOur seven part strategy aims to broaden the scope of the business to enable it to deli
15、ver strong sustainable long-term growth.In May 2011, Philip Clarke set out a seven-part strategy which complements our vision and reflects changing consumer needs and the increasingly global nature of our business. Watch the video here.Open allTo grow the UK coreOur goal to grow the UK core is as re
16、levant today as it was in 1997. The UK is the largest business in the Group and a key driver of sales and profit. This year, we are making a £1 billion commitment to improve the shopping trip, driving a strong pace of improvement in the things that matter for customers which will involve signif
17、icant revenue and capital investment. These changes will reinvigorate the shopping trip for customers, and consequently deliver improved performance for shareholders.To be an outstanding international retailer in stores and online Another of our original goals was to be a successful international re
18、tailer. In 1997, our international businesses generated 1.8% of the Groups profits. Today they represent 30% and were now either number one or number two in eight of our 12 markets outside the UK. So were already successful and are working to be an outstanding international retailer in stores and on
19、line.To be as strong in everything we sell as we are in food In 1997, we were largely a food retailer so we set ourselves the challenge of becoming as strong in non-food as in food. As our business has grown and we offer an ever wider variety of products to customers, the term non-food no longer doe
20、s justice to all the products and services we sell. We now aim to be as strong in everything we sell as we are in food.To grow retail services in all our markets In 2011 we updated our original strategic objective of developing retailing services into to grow retail services in all our markets. Toda
21、y, Tesco Bank is a key part of the potential we see in retail services, generating £1 billion in revenue this year. To put our responsibilities to the communities we serve at the heart of what we do In 2007, we added a fifth element to our strategy to underpin our commitment to communities
22、 and the environment. We updated this objective slightly in 2011 by emphasising our responsibilities in these areas. Our goal is to put our responsibilities to the communities we serve at the heart of what we do.To be a creator of highly valued brands Our brand has evolved from a logo above a few st
23、ores in the UK to a wide range of store, product and service brands across the world, from F&F to Finest. Across our markets, our own-label programme appeals to diverse customer needs, providing them with the quality products they are looking for at competitive prices. Our objective is to be a c
24、reator of highly valued brands. To build our team so that we create more value Our final goal is to build our team so that we create more value. As our business continues to grow and diversify we need more leaders to run the many substantial businesses and support functions within the Gro
25、up. Our leaders not only have an important role today, but also have a responsibility to help build a bigger and better team for the future. Tescos most important asset will always be its people, who live by our Values to do their very best for customers.Our vision is for Tesco to be most highly val
26、ued 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 modern and innovative company and winning locally, applying our skills globally.In May 2011, we launched our four-part vision for the future of the busine
27、ss. We would like Tesco to be seen as the most highly valued business in the world. Valued not only by our customers, but also by the communities we serve, our staff and our shareholders.We are, and we will remain a growth company. We will continue to pursue growth in all parts of the business in th
28、e UK, internationally, in services and across general merchandise, clothing and electricals.We will be a modern and innovative company. Well stay ahead of the curve, anticipating changes and adapting for the sake of our customers and staff.We will win locally by applying our skills globally. The key
29、 word here is locally all retailing is local. But increasingly we are utilising the skill and scale of the Group to benefit the performance and competitiveness of each of our businesses around the world.Board and Executive CommitteeOur Board currently comprises the Chairman, Sir Richard Broadbent, tw
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