Tesco And Its Environment

Introduction
In a competitive era, business environment is considered as an effective
collection of both internal and external factors that directly impact over
the performance level in both positive and negative manner. Thus, it is
important for company to analysis all the internal and external factors in
order to reduce negative impact by maximizing the positive impact.
Tesco And Its Environment
External Environment
Political factor: Tesco, being one of the largest online retailers, is required to
adhere to a number of standards to ensure full implementation and safety of its
goods.
Economic factor: The organization must stay updated on economic developments
in the nations in which it works, as these are the elements that will affect its
income, sales, marketing, and profit.
Social factor: Because of the quick pace of life, customers prefer to purchase
everything all at once, and Tesco has structured out its facilities to accommodate
these desires.
Technological factor: Trends are evolving at a rapid speed, and it is essential for a
company to stay up with evolving technologies in order to remain competitive in
today's world.
Legal factor: Government regulations have a direct impact on the company's
business. In hope to undertake operating smoothly, it must adhere to both locally
and internationally market laws.
Environmental factor: Tesco has launched a number of efforts to help protect the
environment and build a more productive community. Tesco just announced phase
2 of its Remove, Reduce, Reuse, and Recycle program.
How the company impact its context External Environment
TESCO being the leading company in United Kingdom has come up
with one of the main spectra which is providing employments to the
people living in the particular area. Thus, the company is playing a
huge role in reducing the level of unemployment in United
Kingdom. As a result, driving itself as the competitive retailer,
TESCO by providing effective services to its customers it is
generating more and more profits. Thus, the economy of the United
Kingdom is enhancing. In context with the social factor, TESCO is
changing the buying patterns of customers through major events for
example; the company is involving young professionals within the
company. This will influence buyers by providing an access to new
lifestyles.
Internal Factors
Leadership: It is referring to the individuals in a corporation who make
all significant financial, budgetary, sales, marketing, and human resource
decisions.
Human resource: Strong organizations have motivated employees that
understand management's objectives and are given the opportunities,
instruction, assistance, and motivation to not just meet but exceed those
objectives.
Mission statement: It is also an important factor that directly affect the
organizational growth because without proper mission statement
company can not be able to attain their targets.
Organizational structure: Most of organizations used to be very
hierarchical structure, with numerous layers of management and
leadership structuring the company from beginning to end.
References
Gleim, M.R., Smith, J.S. and Cronin Jr, J.J., 2019. Extending the
institutional environment: the impact of internal and external factors
on the green behaviors of an individual. Journal of Strategic
Marketing, 27(6), pp.505-520.
Graham, S., 2020. The influence of external and internal stakeholder
pressures on the implementation of upstream environmental supply
chain practices. Business & Society, 59(2), pp.351-383.