Type of Business

  Tesco is the third largest retailer in the world, measured by revenues and the second largest, measured by profit. Tesco has around 5380 stores and over 530,000 colleagues around the world. Tesco is defined as a global business because it has a large number of stores in 12 countries across Asia, Europe and North America. Tesco is in the primary sector (raw materials) and the secondary sector (manufacturing). 

Types of Business: 

• Manufacturing business (e.g. Tesco products) 
• Service Business (e.g. Tesco Bank) 
• Marketing Intermediaries (e.g. Retailer of other brand)

  Moreover, Tesco is the leader grocery market leader in the UK and 30% of market share is owned by it too. It also is the market leader in Malaysia, Republic of Ireland and Thailand. Tesco’s ownership is based in a lot of shareholders. Earlier it had a market chain of only food supplies. However, over the years its business expanded into markets such as consumer electronic goods, selling and renting DVD's, clothes, internet service, consumer telecoms, compact discs and music downloads and financial services. 

  Other than that, Tesco also involved in others type of business. Tesco Bank is a retail bank and a wholly-owned subsidiary of Tesco. In year 1997, Tesco Bank began life as Tesco Personal Finance, a joint venture between Tesco PLC and Royal Bank of Scotland PLC. Came to 2008, Tesco bought out Royal Bank of Scotland's share of the business and introduced the new name to the market, Tesco Bank and now operates under its own banking license. 

  Tesco Bank provides a various kinds of offers like insurance, current accounts, saving accounts, credit cards, loans, mortgages and travel products and online banking. To make life easier for their customers, Tesco offers all the products and services we offer are available online and over the phone. Most of the Tesco Bank customers enjoy the convenience of buying and servicing their accounts online. 

  Tesco Bank employees are not set individual sales targets and do not receive incentives. This is because we want the focus to be on listening to customer and serving their needs. This is what makes them different from others. In year 2014, Tesco Bank has announced their customer accounts reaches 7 million. In addition, £1 billion is spent on Tesco Bank credit cards each month and 1.8 million customers have Tesco Car, Home, and Pet Insurance with us, and £ 6.1 billion in saving deposits.