Tesco 2013 Annual Report Download - page 17

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13
Tesco PLC Annual Report and Financial Statements 2013
OVERVIEW BUSINESS REVIEW PERFORMANCE REVIEW GOVERNANCE FINANCIAL STATEMENTS
Our Strategy reflects our priorities as the
business grows and customers’ needs change:
We have a well-established and consistent seven-part strategy for growth, which reflects the
way consumer needs are changing and the increasingly global nature of our business – and
of course driving it forward is critical to our success over the coming years.
To grow the UK core TogrowtheUKcore,thelargestbusiness
in the Group and a key driver of sales and
profit,isapriority.Our‘BuildingaBetter
Tesco’ plan has been restoring growth to
the business through a comprehensive
series of improvements for customers.
To be an outstanding
international retailer
in stores and online
We have established profitable businesses
inAsianandEuropeanmarkets.Today,
32% of our Group sales and 29% of
profits are made internationally and our
goal now is to take the performance of
these businesses to higher levels.
To be as strong in
everything we sell
as we are in food
Food is our heritage but as the business
has grown and diversified over recent
years, we have added an ever-wider range
of products and services in-store and
online, bringing Tesco value and quality
to many more categories.
To grow retail services
in all our markets
Consumers are increasingly spending
a bigger proportion of their income on
services – whether it is in telecoms, eating
outorfinancialservices.IntheUK,we
have built some strong, successful new
businesses and our ambition now is to
takethatexperiencetoallofourmarkets.
To put our responsibilities
to the communities we
serve at the heart of
what we do
The changes we have made to our
Core Purpose and Values to reflect
Tesco’s wider social purpose are clear
signals that we put our responsibilities
to the communities we serve at the
heart of what we do.
To be a creator of
highly valued brands
Brandsareaboutgivingcustomers
confidence in the quality, value
and reliability of the things we sell.
We aim to be a creator of highly valued
brands across our offer, whether it is
Finest,F&ForTescoBank.
To build our team
so that we create
more value
As Tesco continues to grow and diversify
we need more leaders to run the broad
range of businesses, operations and
support functions. We are investing in
the development of more leaders and
a bigger, more diverse talent pool to
support the growth of the Group.