A business fulfilling its social responsibilities

The Article, (http://www.nytimes.com/2013/09/12/business/global/after-taking-a-beating-overseas-tesco-seeks-comfort-at-home.html?ref=global&_r=0) explores Tesco’s (the largest supermarket chain in the UK) attempt to fulfill it social responsibilities within the Watford community. Tesco is known for its ability to cater to on the go customers with smaller shops but has now decided to navigate towards hypermarkets. These hypermarkets will aim to provide its costumers with not just groceries but other services such as manicures, back to school aisles and coffee shops. Tesco’s commitment to this venture is echoed by Andrew Stevens, an analyst at verdict research, who reported that “they (Tesco) are putting a lot of money and effort into sorting out their largest stores.” Earlier this year, they “scrapped 100 major store developments and took a write-down of £804 million on the value of some properties.” The costumers in Watford are very happy with the new Tesco supermarket with a prime example being Ms. Goodwin, 84, Watford. She reported that her favourite spot is the new Harris and Hoole coffee shop, stating that “It’s incredible what they’ve done. They must have spent an awful lot of money.” As a result, Tesco has forgone potential earnings to meet the needs of costumers such as Ms. Goodwin.

 

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