The Tesco Question: the boss steps down
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I’ve called this ‘The Tesco Question’ to draw parallels with what I called a while back The Primark Question. These remain high up the list of my FAQs. Does a successful business that offers what customers (apparently) want at low prices have something to apologise for? Are these firms adding to society or destroying it? You’ll have to make your own minds up on that one, and the debate is currently much discussed as Tesco’s boss for the last 13 years, Sir Terry Leahy, steps down.
What’s behind the rise of Tesco - and the accompanying controversy?
As usual, the BBC has got some excellent coverage to help you look at some of the issues. This video clip starts off the discussion and you’ll see how Leahy’s long spell at the helm has seen substantial overseas growth (as well as increased UK dominance), the launch of new products and services, a changed image and turbocharged stock market performance. Set against that are the counter arguments: Tesco’s alleged abuse of monopoly power, reduced consumer choice on the High Street and unfair relationships with suppliers.
Tesco triumphs under Sir Terry helpfully breaks down the arguments into seven headings: local stores, Clubcard, Finest, financial services and overseas expansion are discussed as forces that have driven Tesco forwards. Set against that are sections on ‘controversy’ and ‘Tesco Towns’. It adds up to a really good set of points that would provide fuel for a class discussion or student presentation on the topic.
Tesco chief to retire runs through Tesco’s rise, with helpful supporting graphics and statistics. There’s also an audio clip of an interview with Leahy’s predecessor who looks back – and forwards, into the future of the world’s third biggest retailer.
Tesco have been expanding in my neighbourhood and will be opening a metro store on my local high street in a few weeks. Opinions are very divided at the moment: a good example (there are many) of the way in which Business Studies helps shed light on very real day-to-day issues!
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