In the United States, Texas could not avoid a recession in the wake of the 1986 oil price fall, whereas demand for Sterling changed in the light of the new oil price, adjusting the exchange rate downwards. Today the main priorities are combating climate change, preserving biodiversity, and reducing health problems from pollution and marking sure that natural resources are being used more responsibly. European Union is a unique economic and political society which is in partnership between 27 democratic European countries. Order your essay today and save 15% with the discount code ESSAYHELP, Don't use plagiarized sources. OFT plays a leading role in promoting and protecting consumer interests throughout the UK, while ensuring that businesses are fair and competitive. A single currency would help that transaction pass smoothly. European Union executes legislations in justice and home affairs, and maintains common policies on trade, agriculture, fisheries and regional development. The European Union plans to reduce greenhouse gases at least 20% by 2020 (compared with 1990 levels), raise in renewable energys share of the market to 20% and cut overall energy consumption by 20% (compared with projected trends). In economics, market structures can be understood well by closely examining an array of factors or features exhibited by different players. The final total value of UKs trade-in-goods imported for January 2009 to December 2009 remains at 147.3 billion. The chosen organization for this study is Tesco Plc that operates in the retail industry of UK. European policies The major market forms are: Perfect Competition; Monopolistic Competition . Tescos market structure described by the media is believed to be a monopoly, Tesco has also been through the legal proceedings to prove their innocence, Tesco has accused of being manipulative and gaining monopoly by building stores across towns and cities through the country and Europe but realistically Tesco is an oligopoly, although Tesco is the dominant supermarket it has fairly large competitors who also partly control the market. Retail in the UK. It is estimated the 3.5 million British jobs are dependent on* Britains membership of the EU. June 2010 showed a 15.5 per cent increase in exports compared to May 2010 and a 33.0 per cent increase in exports compared to June 2009. The European Union is currently active in a wide variety of policies from human rights to transport and trade; below is the list of some of the policy areas of the European Union. By 2014, that number had declined by about 10 percent. The UK's retail sector involves a lot of spending by consumers both in shop and online. However, Tesco ranks second, following after Wal-Mart, in terms of net profits. It is then checked by our plagiarism-detection software. The policy also allows technological innovation and the European Commission makes sure that these innovations are in the European Unions fair competition policy. In May 2010 the total value of UKs trade-in-goods exported to Member States of the EU was 11.3 billion. Value of International markets to UK The competitive market structure an organisation belongs to is determined by the nature of their product, the number and size of other firms in the market and the entry and exit conditions of that market. Agriculture Media Competition Consumers Education, Employment Environment External trade Fight against fraud Human rights, Taxation Transport Justice, freedom Internal market Customs, Impact of European Union's Competition policy on Tesco. The total equity consisted of the following items: 409M of share capital, 5 . The business that I have chosen for this assignment is Tesco; this is because Tesco is a multibillion pound international business. The stability pact (the main points of which were agreed at the Dublin summit of European heads of state or government in December 1996) will force EU countries into a system of fiscal responsibility which will enhance the Euros international credibility. (http://www.axa-schengen.com/en/schengen-countries). The retail sector. Much of . Sustainable development has long been one of the overarching objectives of EU policy. It can allow smaller companies to cooperate if this strengthens their ability to compete with larger ones such as Sainsburys and Tesco. number: 206095338, E-mail us: (http://www.oft.gov.uk/ about/what/#named2). Austria, Belgium, Czech, Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. Many fast food franchises fit all or most of these characteristics. In the United States, Texas could not avoid a recession in the wake of the 1986 oil price fall, whereas demand for Sterling changed in the light of the new oil price, adjusting the exchange rate downwards. From my understanding there are many possible reasons that the government should consider while joining Euro, joining Euro would reduced exchange rate uncertainty for UK businesses and lower exchange rate transactions costs for both businesses and tourists. The observed change has affected Tesco, the market shares of which grew by 4.5% to reach a total of 22.3% ("Tesco reclaims top spot," 2018). This is the reverse of the position in 1990. Released by cars and trucks, these microscopic particles can cause respiratory diseases. European Union policies ensure safer food and a greener environment, better living standards in poorer regions, joint action on crime and terror, cheaper telecoms and communication, millions of opportunities to study abroad and more Patents promote innovation for inventors, which allow exclusive rights to do business for a specific duration. Contacting their MEP and cast vote at the European Parliament elections the European Parliament enacts EU laws: (www.europarl.europa.eu) Your email is safe, as we store it according to international data protection rules. MARKET STRUCTURES. Market structure can be broadly classified into three distinct categories: Bullish Market Structure: A bullish structure is defined by a series of higher highs (HH) and higher lows (HL). A multinational company like Tesco cannot merge with another giant if that would put them in a position to control the market, though practice this rule only prevents a small numbers of mergers going ahead. Market Collapse: Tesco has stores in different countries but still it is completely depending on the UK market. The objective of this report is to analyze on the market structure of the retail industry in the UK. Market structure is said to be the characteristics of the market. Thus, the supermarket industry in the UK could be described as an Oligopoly Market. their profits margin will vary but still always high. If somehow UK market collapses then Tesco will be in a greater amount of risks. The imports of UK data shows that the import from the non European Union zone is increasing i.e. Businesses, involved in commercial transactions in different member states, would no longer have to face administrative costs of accounting for the changes of currencies, plus the time involved. (Source: UK Jobs Dependent). Thanks to our free revisions, there is no way for you to be unsatisfied. One of the few reasons that the United Kingdom did not want to join the single European currency with the first wave of countries on 1 January 1999 is that according to the chancellor of the Exchequer at that time in 1999 who was Gordon Brown our current prime minister said that, although the government supported the principle of the single currency Britain would not be ready to join at least until the second wave of countries which occurred in 2002 and during that time he told the European Union that the country should begin to prepare for monetary union but up till now there have been no indications of the United Kingdom joining the European Union currency, Euros. The European Commission has wide powers to make sure businesses and governments stick to EU rules on fair competition. Sometimes it is hard to do all the work on your own. Value of European markets to UK European citizens have the freedom to live, work, study, and travel in any other EU country. TESCO SUSTAINABILITY REPORT CASE STUDY 4 Source: Thus, Tesco Inc. operates in an oligopoly market structure and competes with Asda and Sainsbury. A range of prices occurs because sellers can differentiate their offers to buyers. According to the principles of microeconomics market structures can be identified as perfect competition, oligopoly or monopoly. More Jobs: Tesco has already proven that they are committed towards being eco-friendly, "Tesco Plc, the world's No.4 retailer, plans to spend over 100 million pounds with British green technology companies over the coming year as it steps up its drive to halve carbon emissions by 2020.". The organization currently has three locations (La Jolla, Del Mar, and Encinitas).. Public goods are goods from which the whole community can take benefit without the need of purchasing them. You will get a personal manager and a discount. In a Monopoly Market Structure, there is only one firm prevailing in a particular industry. OFT is a non-ministerial government regulator that was established by government in 1973. Tesco themselves say that it is an oligopoly, this is because Tesco is not the only supermarket in the UK, Tesco is the dominant shareholder but cannot be called a monopoly as there are many other firms which are in competition with Tesco e.g. Since 1995 alone, about 100,000 young Britons have spent time studying in another European country. We will work on your paper until you are completely happy with the result. A Natural Monopoly Market Structure is the result of natural advantages like a strategic location or an . Tesco's market structure described by the media is believed to be a monopoly, Tesco has also been through the legal proceedings to prove their innocence, Tesco has accused of being manipulative and gaining monopoly by building stores across towns and cities through the country and Europe but realistically Tesco is an oligopoly, although Tesco . Homogenous products are identical products or business e.g. 1093 Words5 Pages. Among these firms, Tesco Inc. leads in terms of sales and profits. The two organisations I will be comparing and contrasting are Tesco and Sainsbury's which I believe belong to the Oligopoly market structure. you to an academic expert within 3 minutes. Another company in the market structure of oligopoly has been analysed. In this type of competition the companies are forced to follow the competitive pricing strategy in order to survive in the industry, i.e. As a comparison the total value of UKs trade-in-goods imported to the UK from countries outside the EU in May 2010 was 14.0 billion and for June 2009 was 12.0 billion. In 2013, Tesco spent approximately 110 million on marketing efforts in traditional outlets. The European Union Commission can allow companies like Asda and Morisons to cooperate in developing a single technical standard for the market as a whole. Tesco offers a wide array of food and non-food products . Austria, Belgium, Czech, Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. 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