Mission Statement of Tesco:Morgan et al. (2008) stated that mission statement enabled the… 1 answer below »

Mission Statement of Tesco:Morgan et al. (2008) stated that mission statement enabled the organisation to identify the key target to be achieved within the specified time span using its core competencies. The mission statement of Tesco is “Creating value for customers, in order to earn sound customer loyalty for longer sustainability”. Therefore, the core mission of Tesco is to develop the strategy where customers’ satisfaction is the key focus of the firm to sustain longer in the industry.1.1 PESTEL analysis:Tesco is facing challenges from the diversified political and social framework due to different regulatory instructions and changing behaviours and attitudes of customers regarding the product and service portfolio. However, Solgaard and Hansen, (2003) stated that different economic factors affects the profitability of the firm in terms of recession, high inflation and irregular interest rates. Tesco has advanced its process through incorporating various technological initiatives to enrich the product and service quality. However, such technology is also used to reduce the wastage in production to ensure environmental sustainability for longer

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