Consequences of Brexit on Tesco PLC
Brexit was a revolutionary decision for the EU and the UK at the same time. When the British opted to leave the EU, it initiated a series of debates about how Brexit could influence the UK and its economy. This report is the culmination of a case study on Tesco Plc and how it was affected by the move with efforts directed towards arriving at recommendations to navigate the changes. For this analysis, the research approach of a case study is used because of a variety of benefits it provides. It equips the researcher with the tools he needs to investigate a real-life scenario and analyze what is happening. These impacts were classified into three major themes identified during the course of the project. First, Brexit affected the importation of products from Britain to EU markets and vice versa. It also affected consumer perception and expectations because of expensive trading costs incurred by Britain as a non-EU market. The second theme examines the effects on workforce immigration. Brexit created an unfavorable working environment for foreigners; mainly the nationals of EU nations. The third theme this research identifies is difficulties with opening branches in foreign markets. The Brexit move suppressed the ability of big retail chains such as Tesco Plc to open branches in EU markets. However, it is recommended that the company focuses on innovation and novelty to retain its customers. It provides a good chance for the company to focus more on localizing everything rather than putting a focus on globalization. The report…
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