TMA04 B202 Accounting & Finance Essay Example | Topics and Well Written Essays - 2000 words

TMA04 B202 Accounting & Finance - Essay Example The name Tesco first appeared above a shop in Edgware in 1929 and since then the company has grown and developed, responding to new opportunities and pioneering in many innovations. By the early 1990s Tesco faced strong competition and needed a new strategy. We were good at buying and selling goods but had begun to forget the customers. Sir Terry Leahy, who became Chief Executive in 1997, asked customers the simple question - what are we doing wrong?". We then invested in the things that matter to customers. For example, we launched our loyalty scheme Clubcard and Tesco.com, our internet home shopping service. Going the extra mile for customers has been key to our growth. We want to make customers lives easier and better in any way we can. We want to appeal to every customer and give them a reason to come back to Tesco. Originally specializing in food and drink, it has diversified into areas such as clothing, consumer electronics, financial services, telecoms, home, health and car insurance, dental plans, retailing and renting DVDs,[4] CDs, music downloads, Internet services and software.(Tesco plc) Among its local competitors most significant ones are Morrisons,Sainsbury and Asda. The following graph shows Tesco’s market shares locally(TESCO MAIN SUBMISSION TO THE COMPETITION COMMISSION (CC) INQUIRY INTO THE UK GROCERY RETAILING) According to TNS World panel Tescos share of the UK grocery market in the 12 weeks to 30 November 2008 was 30.9%, up 4.3% on 12 weeks to 2 December 2007. Across all categories, over  £1 in every  £7 (14.3%) of UK retail sales is spent at Tesco. Tesco also operates overseas, and non-UK revenue for the year to 24 February 2007 was up 18% on 25 February 2006. Wal mart had sales of $287bn ( £160bn) in 2004-5, more than its three closest rivals put together(Deloitte 2006 Global Retailing Powers study). Walmart had put its feet in China.Following suit Tesco aggressively expanded in China, while Wal-Mart plans to hire

Major Challenges along Silk Route Essay Example | Topics and Well Written Essays - 2500 words

Major Challenges along Silk Route - Essay Example Moreover, Silk Route proved to be a significant avenue for the exchange of ideas, cultures, and religions. Some of the primary ideas and technology travelled to the world through Silk Route, such as, paper making technology, printing, and gunpowder production are a few to name. Explorers, migrants, traders, soldiers, refugees, and pilgrims contributed to Silk Routes’ extensive cross-continental exchange through their religion, culture, animals, flowers, vegetables, plants, herbs, fruits, and diseases as well (Ma, 1998, pp.1-2).It is not surprising that Silk Road was considered to be the ‘melting pot,’ and ‘the lifeline of the Eurasian Continent’ (Franck and Brownstone 1986; Werblowsky 1988 cited in Ma, 1998, p.2).Routes expansion due to apparently hostile conditions, such as, war between tribes and robbery, Silk routes reached to India, Tibet, Iraq, and Russia(today’s). Moreover, it merged into previously established routes, such as, spice rout es with India (Rowan, 2006). 2. Silk Sea Route Sea route is considered to be another Silk Route which links South China Sea to Indian Ocean and to Mediterranean through both Persian Gulf and Red Sea route. Sea route served the same purpose for silk trade as overland route. In ancient times, overland or sea routes were alternate routes. Over a period of time, sea routes didn’t prove more efficient due to primitive ships, inefficient navigational tools, and lack of geographical knowledge. Seafarers used to stay close to the shorelines; therefore, they cover very small distances (Needham and Wang, 1954, pp.174-80). The rise of Islam played crucial role in the development of overland and sea Silk Route. Muslim ship masters pervaded into not only Indian... Strength of the windstorm and nature of the surface make it more dangerous. Though local people have huge respect for this â€Å"Land of Death,† only few travellers said well about this region in the past. A few roads pass through this vast region, caravans skirted the edges of this region from one oasis to another throughout ancient times. Climate has always been harsh; in summers, the day time temperature is in 40s and greater than 50 degree Celsius frequently measures in the sub-sea-level basin of Turfan. On the other hand, in winters, the temperatures dip below -20 degrees. Temperatures are high in day time, but drop sharply after dusk. Moreover, Taklimakan desert has much sparse water resources (Wild, 1992).Such severe environmental conditions posed great threats to traders from ancient times. Other regions surrounding Taklimakan were equally dangerous. To the northeast, there lies Gobi desert with equally hostile climate. On other three sides, there are highest mountains in the world: Himalaya, Karakorum, and Kunlun ranges. Only few icy, but dangerously narrow and difficult passes cross the region. Most of these passes are more than 5000 meters in altitude, with deep and steep side valleys. North ranges, Tianshan and Pamir are comparatively green and low, however, passes crossing these ranges have enormous problems for the travelers and traders in ancient times. However, a comparatively easier entering point is along the ‘Gansu Corridor’ while entering the region from east (Wild, 1992).