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Hi, need to submit a 1250 words paper on the topic Tesco's Interest in Indonesia.
Hi, need to submit a 1250 words paper on the topic Tesco's Interest in Indonesia. Indonesia is a country located in southeastern Asia between the Indian Ocean and the pacific. Its capital city is Jakarta, with a population of close to 242,000,000. It consists of different ethnic groups namely, Sudanese, Madurese, & Javanese among others. The common religions vary from Protestants, Catholics, Hindus, and Muslims, with the official language of Indonesia being Bahasa Indonesia. Due to their nature of co-operation and the willingness to share, competition is not very common, as it is viewed as a practice that benefits oneself.
Nevertheless, business is evident in Indonesia with competitive industries from within and foreign. however, the government of Indonesia is very keen on how businesses operate such that, laws that ensure fair competition have been put in place. For instance, Law number 5 prohibits monopolistic practices and unfair business competition. The objectives of Indonesia competitive law include safeguarding the interests of the public by improving the economic efficiency. Secondly, it is geared towards creating a conducive business climate by ensuring fair business competition.
Thirdly, the law prevents monopolistic practices, which may lead to unfair business practices, and finally, it ensures effectiveness and efficiency in business operations. In addition, Indonesia gives room from foreign businesses to operate in their country, as long as they abide to the rules and regulations governing business practices (Act number 5, p1).
Tesco started its operations in 1919, when its owner Jack Cohen started selling groceries in a stall, which was located in London, with only a £1 on the first day. In 1924, Tesco become a brand after acquiring tea shipment and in 1930, Mr. Cohen built a warehouse in North London declaring Tesco a private company. Over the years, it bought rival shops, and by the 60s, the supermarket was already selling a variety of products. Tesco entered Guinness book of records as the largest store in Europe, and in the 70’s, Tesco had opened a petrol station, which was an independent retailer.
In the 90’s, Tesco had already completed several takeovers, while in 1996, it introduced a 24-hour store (The telegraph Para. 10). Today, Tesco has grown to a giant supermarket, and it is visible globally. Its diversification is evident in the United States, Indonesia, Latin America, china, Scotland, china, Norway, Middle East and Mexico. In addition, Tesco is committed to corporate social responsibility such as charities for schools and communities. The company has incorporated technology and it encourages online shopping. In addition, the supermarket offers a range of products to meet the customer’s needs. .  .
To operate successfully in Indonesia, a corporate requires understanding the business culture and laws governing businesses this country. Therefore, establishing of relationships is necessary. however, it takes time. Loyalty and trustworthiness are a necessity in maintaining a relationship, especially with the government officials. In this country, men are considered mature if they are over the age of 40 years. therefore, a foreign country may consider sending older executives rather than the young ones, especially in negotiations.