My national business is Tesco. I have chosen this business because Tesco, Asda, Sainsbury’s and Morrison’s are the 4 biggest businesses. Also the prices for most products are cheap and this is why it is a good business. Tesco is a primary sector, a secondary sector and a tertiary sector and this is because they make the products and manufacture them and then they sell the products. This is why they are in the tertiary sector because they sell the products.
My local business is Riaz pharmacy. I have chosen this as a business because it is close to my house and I can visit the shop and ask the owner or anyone who works there about the business. Also Riaz pharmacy is a secondary sector and a tertiary sector and this is because it doesn’t make the products however it manufactures the products and sells the products.
Purpose of Business
The main purpose of every business is to make a profit as most businesses aim to expand the business.
How I planned and carried out my research?
For the business activities I got the research from the internet and made it into my own words. Also I went to the supermarket, had a look around, done a bit of shopping and then asked some customers about why they like Tesco. Some responses I got were “it’s cheap” Tesco is the largest food retailer in the United Kingdom. It is a 24 hour supermarket and has main competitors with Asda, Sainsbury’s and Morrison’s but they are still strong at what they sell. Tesco provides basic food and drinks at a lower price and at the same time they are making a massive profit. .
for my local business as it is just at the bottom of my street I can visit whenever I want to get information about the business and ask any questions which I need to ask. Of Blackburn. Riaz Pharmacy was founded in 2013 in the UK. It is also responsible for medicine and tablet collection and delivery in the UK. Riaz Pharmacy employs approximately 6-7 people which shows that it is a short business as it just recently opened up.
Tesco is a big business in the tertiary sector that is mainly food and drink. They buy all their products from bigger businesses. These are some of Tesco’s main features and business activity. Food and drink Tesco sell a different range of different food and drinks at very competitive prices. It is the third largest retailer in the world. This is due to the massive profits that are made in the business. This has also helped Tesco meet their aims and objectives of increased sales and to retain loyal customers. Tesco make sure that the quality of the products were high and the prices were very competitive compared to other big businesses.
My local business is Riaz pharmacy. Riaz pharmacy is a dispensing chemist and is a retail pharmacy. This means that it is a pharmacy which sells the sale of goods to the public in relatively small quantities for use or consumption rather than for resale. This shows that they are a chemist which provides as it is a retail pharmacy.” We sell medicine and tablets to those who are above 16 whereas under 16 get the medicines and tablets for free as they are still in education.” This is what one of the workers, Junaid Akhtar, said when I asked him about the business and what the business sells and how it makes its money. However Whalley range pharmacy is an establishing business and it has been there earlier so it is in competition now with Riaz pharmacy
Aims and objectives
Tesco have many aims and objectives which help them as a business. Firstly they aim to grow the UK core. This means to get more Tesco shops opened up in the UK. Secondly one of the aims are to be an outstanding international retailer in stores and online. This means that they are retailing and manufacturing in the Tesco shops and online they are also retailers and this means that they give some of their products to other Tesco shops and this is all over the world as it is an international retailer. Thirdly another aim is to be as strong in everything we sell as we are in food. This means apart from food that they make so much money and profit from, they want to sell everything else and be strong in it meaning that they want to sell all of their other stuff that they have apart from food. Fourthly To grow retail services in all our markets and to put our responsibilities to the communities serve at the heart of what they do. Riaz said “our company aims to do well as a business and make a huge profit” This means that they grow the retail services meaning they give more of their products to other Tesco shops internationally and to serve from the heart meaning serving the customers properly. Finally another one of Tesco’s aims and objectives is to be a creator of highly valued brands and to build their team so that they create more value. This means that they want to create highly expensive value brands to build the team and increase the people working at Tesco all over the world as it is internationally. These are the aims and objectives and I know this because the aims of the business are the things that the business should meet at the end of a certain period of time and objectives are the things that you do in order to meet your aims
Riaz pharmacy have many aims and objectives which help them as a business. Firstly one of the aims is to make a profit as a business and this means that they sell medicines, tablets and cream etc. and this helps them to make a profit as a business. Secondly they aim to provide a safe and efficient service and a health care service in Blackburn. This means try to help peopled in Blackburn by providing such products and this will keep a safe and health care service because they will be helping people to stay healthy. This shows that Riaz pharmacy provide a safe, efficient and health care servicer in Blackburn. Riaz said, in an interview I had with him, “We aim to cure all illnesses in the local area of Blackburn.” This means that Riaz pharmacy aim to cure anyone who has got an illness in the local community. This means that they aim to stop people who are ill in Blackburn as they are a pharmacy and can provide them with any tablets or medicine which can cure most illnesses.
This picture shows the profit and the change at the constant at different rates. Also it shows the profit before the tax for Tesco.
This picture shows that I have had an interview with the owner Riaz and these are the answers I got which indicates that the main aim is to cure all ill people in the local area.
Comparison of aims and objectives for both businesses
The similarities of the aims and objectives is that both businesses intend to expand the business. This means making a bigger business with more workers and more stock which results in making more money. Secondly another main similarity is that both businesses aim to make a huge profit. This is because one of the main purposes of a business is to make a profit.
The differences of the aims and objectives between both businesses is that Riaz pharmacy only sell medicine and tablets as they are a chemist whereas Tesco is a supermarket which sells a variety of different products which are used in the house regularly.
Aims/objectives Tesco Riaz Pharmacy Evidence
To make a profit Aim Met Aim met “obviously the main purpose of opening any business is to make a profit”
To expand the business Aim Met Aim not Met
My national business is Tesco. The main competitors of this business are Asda, Sainsbury’s and Morrison’s. This is because they are all big national companies that compete with each other and try to make more profit than each other and this shows that they are all very competitive and they are also often called the Big Four in the United Kingdom. Matt Davies, who is the chief executive of Tesco said “we, as a business, are in competition with almost every other supermarket “this means that Tesco is in competition with many supermarkets so needs to make the most profit possible. Waitrose se is another large chain that trails the Big Four in footprint. Recently even Aldi and Lidl have also become strong competitors in the U.K. grocery market. Tesco also competes with convenience stores which become more popular as they sell things for cheap prices.
My local business is Riaz Pharmacy. The main competitors of this business are Whalley Range pharmacy and Cohen’s chemist. Also the main competitors are any chemists between a 1 mile radiuses. Competition is good and I’m all in favour of it. The way they work for most of these pharmacies is how many prescriptions are made, delivered and how much money is made. The main purpose of a pharmacy in the community is to increase the health within the local area and not be as much concerned about the profit made in the business. However, the main competition is Whalley Range pharmacy as it is clearly opposite Riaz pharmacy and that is why they are “rivals in competition” which Riaz said indicating that Whalley Range Pharmacy is the main competitor of Riaz pharmacy.
Comparison of competitors for both businesses
Tesco is a large UK grocery firm and retailer whose main competitors are ASDA, Sainsbury’s, and Morrison’s which are often called the big four in the United Kingdom. Waitrose is another large chain that trails the big four in footprint. Recently even Aldi and Lidl have become strong competitors in the UK grocery market.
My local business is Riaz pharmacy. The competitors are whalley range pharmacy and Cohen’s chemist. Riaz said “competition is good and I’m all in favour of it” The way they work for most of these pharmacies is how many prescriptions are made, delivered and how much money is made. The main purpose of a pharmacy in the community is to increase the health within the local area and not be as much concerned about the profit made in the business.
The differences between Tesco and Riaz pharmacy in the competition is that Riaz pharmacy’s main competitor is whalley range pharmacy as Riaz pharmacy is very close to Whalley Range Pharmacy and this is because Riaz pharmacy is right opposite Whalley Range pharmacy and also further down on the same road Cohens chemist is on whalley range also. This shows that Riaz pharmacy being in competition with the other pharmacies are that they are all together. However Tesco’s competitors are Asda and Morrison’s and these big supermarkets are not near each other like the pharmacies. This shows the trend between the competition and the competition will be more extreme for the national business because it is a much bigger business so the competition will be more severe, showing that it is more competitive than the local businesses. This shows the differences between both businesses.
The similarities between both businesses is that both businesses are rivals in competition. This is because Tesco is a rival in competition with ASDA as they are both fighting to try to make the most profit and by doing this they reduce prices of products. Riaz Pharmacy is a rival in competition with Whalley Range Pharmacy as it is opposite it so they need to make sure that they try they best to make the most profit out of their business.
Tesco shows business ethics as it is a core element of the promise that they made which is to buy and sell products responsibly and ethically so the customers know that everything they buy is produced under certain conditions and also to make sure everyone who is involved is treated fairly. Furthermore, ethically and legally Tesco buy and sell products so that means they are primary and tertiary. Also, Dave Lewis, who is the group CEO of Tesco said “I want everyone who works for Tesco to be proud of our business and our achievements for customers and the communities of which we are a part. Knowing our policies, applying good judgement, being honest and speaking up are just some of the ways that we can build pride in Tesco and help build a stronger business for the future” this means that they want to be ethical in their business and become a “stronger business for the future”. This indicates that Tesco work ethically as a business to become a stronger business and make the most profit possible.
Riaz pharmacy is a retail chemist which is governed by many people. For example they are governed by the GP, NHS England, NHS Care Commissioning Group, The local council and they are also governed by many other people. These are the different people that Riaz pharmacy has been governed by which are included in this business.
This shows that Tesco has a higher price sales ratio than Morrison’s and Sainsbury’s. Also the second picture indicates that the operating profit and the net profit as an annually average and it also shows the trend between the profits.
Comparison of ethics for both businesses
My national business is Tesco. The competitors of Tesco are asda, Sainsbury, Morrison’s, Aldi, Lidl etc.
In my bibliography I have included many primary and secondary sources which I used to help me to get the information I need.