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    Integreted

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    Dwi Sandyka Radia Ramadan409
    Dave Lewis became CEO of Tesco and after only 3 weeks sent an email saying the company's culture needed to change to focus on customers and be more transparent. This was because a whistleblower revealed a financial scandal where Tesco overstated profits by £263 million by delaying supplier payments and counting them as profit against giving suppliers better shelf space. When announced, Tesco's share price fell 8% wiping £1.5 billion off its value and a total of £3 billion was lost in the following 3 weeks.

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    Integreted

    Uploaded by

    Dwi Sandyka Radia Ramadan409
    29 views1 page
    Dave Lewis became CEO of Tesco and after only 3 weeks sent an email saying the company's culture needed to change to focus on customers and be more transparent. This was because a whistleblower revealed a financial scandal where Tesco overstated profits by £263 million by delaying supplier payments and counting them as profit against giving suppliers better shelf space. When announced, Tesco's share price fell 8% wiping £1.5 billion off its value and a total of £3 billion was lost in the following 3 weeks.

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    Dave Lewis became CEO of Tesco and after only 3 weeks sent an email saying the company's culture needed to change to focus on customers and be more transparent. This was because a whistleblower revealed a financial scandal where Tesco overstated profits by £263 million by delaying supplier payments and counting them as profit against giving suppliers better shelf space. When announced, Tesco's share price fell 8% wiping £1.5 billion off its value and a total of £3 billion was lost in the following 3 weeks.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    29 views1 page

    Integreted

    Uploaded by

    Dwi Sandyka Radia Ramadan409
    Dave Lewis became CEO of Tesco and after only 3 weeks sent an email saying the company's culture needed to change to focus on customers and be more transparent. This was because a whistleblower revealed a financial scandal where Tesco overstated profits by £263 million by delaying supplier payments and counting them as profit against giving suppliers better shelf space. When announced, Tesco's share price fell 8% wiping £1.5 billion off its value and a total of £3 billion was lost in the following 3 weeks.

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    Anggota kelompok

    1. Dwi Sandyka Radia Ramadan


    2. Fitriyah Ayu
    Kelas Manajemen H

    At the end 2014, Dave Lewis, who had been Tesco’s CEO for only three weeks till
    then, sent an email to the company’s staff members saying that the organization’s culture
    had to change. He said that Tesco needed to focus on its customers and work hard
    on being open, honest, and transparent. Most people in his position would have probably
    waited more than three weeks before recommending such sweeping changes, especially
    for something as significant as the organizational culture. So what caused Mr.
    Lewis to make such a dramatic public announcement? Put simply, a financial scandal.
    With significant issues, related to the drive for growth and positive market results, being
    brought to light by a whistle-blower, at the end of September 2014, Tesco had to make
    an embarrassing announcement—they had overstated their mid-year profits by £250
    million, later revising this to £263 million.
    The issues faced were twofold. In order to improve its own financial position,
    Tesco delayed its payments to some of its suppliers and it had also been including
    payments from suppliers as profit. It appeared that these payments were made against
    suppliers getting more favorable positioning for their products and more shelf space.
    Tesco’s announcement resulted in an 8 percent fall in the share price, wiping £1.5
    billion off the company’s market value. A total of £3 billion was wiped off the share
    price in the three weeks following the announcement.

    Verb Agreement
    1. The organization’s culture had to change
    The organization’s is the plural nouns and change is the pluar verbs

    2. Tesco needed to focus on its customers and work hard


    focus is the plural verbs and customers is the plural nouns

    3. The issues faced were


    The issue is prual nouns and faced is plural verb

    4. Tesco delayed its payments to some of its suppliers


    delayed is the prulal verbs and suppliers is the plural nouns

    5. Tesco’s announcement resulted in an 8 percent fall in the share price


    Tesco’s plural nouns and announcement is the plural verbs

    Resume
    Dave lewis as a CEO of Tesco’s for only three weeks saying that the organization culture had to
    change, the reason is financial scandal that related to the drive for growth and positive market
    results . They delayed its payments to some of its suppliers and it had also been including
    payments from suppliers as profit

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