Comparing 2 PLC Companies
I will be comparing 2 PLC companies for my communication assignment. The companies are Tesco and Iceland. I will use extracts from both companies' annual reports and will start off with both chairmen's statements and finish off with the financial revue of both companies.
Tesco have four key strategies which are to continue in the same way and deliver; a strong UK market share, invest in non-food businesses, stay top of the UK retailing services and continue to grow internationally.
According to the Iceland chairman the company has 5 main goals for the future and 4 of them have been completed exactly in accordance his to plans.
Their first strategy was to build a recovery plan for their future growth. This also means that the company will try to retain its current market share and in doing so they would guarantee their future.
The second was to stabilise like for like sales in their foods, e.g.
buy one get one free offers. - The fact they failed to achieve this objective undermines the importance of careful future planning.
Their third strategy was to assemble the right type of management to carry out their duties. - This has been accomplished through recruiting some much respected executives at both board level and below.
Their fourth strategy was to establish some procedures in order to maintain a good working environment and retain the good conditions of their stores. According to their annual report this has also been established.
Finally they needed to integrate with Booker Woodward Foodservice, and together they promised to deliver great quality for the customers.
The company of Iceland which is also known as The Big Food Group have developed a comprehensive plan to fulfil their objectives over the four years to 2004/05.