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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 con
2、stantly 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, particula
3、rly 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 food safety
4、 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 innovations are first
5、s 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 good price.
6、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 Tesco markets:
7、 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 guaranteed supply for our
8、 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 1000 tonnes of sea
9、 bream, sea bass and trout a year to our stores in Poland, Hungary, CzechRepublic, 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 £l00m of products from Hungary to the UK (inclu
10、ding 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 customersTreat people how we like to be treatedWe use our scale for goodOur success dep
11、ends on people: the people who work with us and the people who shop with us. Whether in Ireland or India, Turkey orThailand, 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 environment based on trust and re
12、spect. 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 create a good place to work and o
13、ne where great service is delivered.Tesco was foun ded in 1919 by Jack Cohe n from a market stall i nLondon ' s East End. Over the years our bus in ess has grow n and we now op erate in 14 coun tries around the world, employ over 500,000 people and serve tens of millio ns of customers every week
14、. We have always bee n committed to p rovid ing the best shopping exp erie nee.Today we continue to focus on doing the right thing for our customers, colleagues and the com mun ities we serve.Our strategyOur seve n part strategy aims to broade n the scope of the bus in ess to en able it to deliver s
15、tro ng susta in able Ion g-term growth.In May 2011, Philip Clarke set out a seven-part strategy which complements our vision and reflects changing consumer needs and the in creas in gly global n ature of our bus in ess. Watch the videohere.Open allTo grow the UK coreOur goal to grow the UK core '
16、; is as releva nt today as it was in 1997.The UK is the largest bus in ess in the Group and a key driver of sales and profit. This year, we are making a £1 billion commitment to imp rove the shopping trip, driv ing a strong p ace of imp roveme nt in the things that matter for customers which wi
17、ll involve significant reve nue and cap ital in vestme nt. These cha nges will rein vigorate the shopping trip for customers, and con seque ntly deliver imp rovedp erforma nee for shareholders.To be an outsta nding in ter natio nal retailer in stores and on li ne才11 "be a successfunter nati ona
18、lAnother of our original goals was toI M'|-retailer ' .In 1997, our intern ati onal bus in esses gen erated 1.8% of theGroup' profits. Today they represent 30% and we renow either number one or number two in eight of our 12 markets outside theUK. So we' realready successfuland are wo
19、rking to be an outsta nding intern ati onal retailer in stores and on li ne.To be as strong in everyth ing we sell as we are in foodIn 1997, we were largely a food retailer so we set ourselves the$ $ (challenge of becoming astrong in non-food as in food ' As our bus in ess has grow n and we offe
20、r an ever wider variety of p roducts to customers, the term non-food no Ion ger does justice to all the products and services we sell. We now aim to be as strong in everyth ing we sell as we are in food.To grow retail services in all our markets! «JtIn 2011 we up dated our orig inal strategic o
21、bjective of devel opingretaili ng services in to tqgrow retail services in all our markets '.Today, Tesco Bank is a key part of the potential we see in retailservices, gen erat ing 1 billioiCin reve nue this year.To put our responsibilities to the communities we serve at the heartof what we doIn
22、 2007, we added a fifth element to our strategy to underpin ourcommitme nt to com mun ities and the en viro nment. We up dated this objective slightly in 2011 by emphasising our responsibilities in these areas. Our goal is to put our respon sibilities to the com mun ities we serve at the heart of wh
23、at we do.:1To be a creator of highly valued brandsOur brand has evolved from a logo above a few stores in the UK to a7wide range of store, product and service brands across the world, from F&F to Fin est. Across our markets, our own-label p rogramme app eals to diverse customer n eeds, p rovid i
24、ng them with the quality p roducts they are look ing for at comp etitive p rices. Our objective is to be a creator of highly valued brands.To build our team so that we create more valueV*Our final goal is to build our team so that we create more value. Asour bus in ess con ti nues to grow and divers
25、ify we n eed more leaders to run the many substa ntial bus in esses and support fun cti ons with in the Group. Our leaders not only have an important role today, but also have a respon sibility to help build a bigger and better team for the future. Tesco' most important asset will always be its
26、people, who live by our Values to do their very best for customers.Our visio n is for Tesco to be most highly valued by the customers we serve, the com mun ities in which we op erate, our loyal and committed staff and our shareholders; to be a growth company; amodern and innovative company and winni
27、ng locally, applying our skills globally.In May 2011, we launched our four-part vision for the future of the business. 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 shareholder
28、s.We are, and we will remain a growth company. We will continue to pu rsue growth in all p arts of the bus in ess in the UK, i nternatio nally,'ll stay ahead ofin services and across general merchandise, clothing and electricals.We will be a modern and innovative company. We the curve, anticipat
29、ing changes and adapting for the sake of our customers and staff.We will win locally by applying our skills globally. The key 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, two Executive Directors and e
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