Business in Practice: Internal and External Factors Impacting Tesco

This presentation discusses the impact of internal and external factors on Tesco's business practices. It covers the company's strengths, weaknesses, opportunities, and threats, as well as its relationship with the external environment. The presentation also highlights Tesco's strategic plans to overcome these challenges and adapt to the changing environment.

Introduction
Business practices are the strategies utilized to
accomplish this in the highest cost-effective way possible.
A firm could have business practices guidelines in effect to
ensure that its employees are productive at their jobs and
follow all rules and regulations. Tesco is a global food and
retail business that sells apparel, electronics and furniture
and many commodities. It was established in 1919 by Jack
Cohen and has its headquarters in London, UK.
BUSINESS IN PRACTICE
External Environment
P: Trade war between the China and US
E: Becoming a victim of COVID 19
S: Producing goods according to shifting
of preference of customers
T: Collaboration with Amazon Go
L: Pay a $12 million settlement
E: Removing, reducing, reusing and recycling plastic
How the company impact
its external environment
Organizations' relationships with their external
environment are mutual, the former impact the
environment with the goods and services, whereas the
latter influences the environment with their goods and
services. If the business could function effectively while
keeping the external environment variables in
consideration and providing with answers, the business
would be able to avoid being influenced by the issues.
The company uses a variety of strategic plans to
conquer the variables that impact its operation and
effectiveness. They could also keeping all of the internal
elements in mind as they utilise strength and
opportunities to transform all of the weaknesses and
threats. This would have a significant influence on
external environmental situations
Internal Factors
S: With a market share of more than 34%, TESCO is the market
leader in the UK
W: Due to its vital position in UK, they are unable to expand into
other markets.
O: Entering the digital retail market, the company improve its
revenues
T: Competitors such as Sainsbury, Aldi, Morrison pose a significant
threat
References
Bock, A. J. and George, G., 2017. The Business Model Book: Design,
build and adapt business ideas that drive business growth. Pearson
UK.
Daou and et. al., 2020. The Ecocanvas as a business model canvas
for a circular economy. Journal of Cleaner Production, 258,
p.120938.
Heald, M., 2018. The social responsibilities of business: Company
and community, 1900-1960. Routledge.
Sroufe, R., 2018. Integrated management: How sustainability
creates value for any business. Emerald Group Publishing.
Van Looy, A., 2019. Capabilities for managing business processes: a
measurement instrument. Business Process Management Journal.
Conclusion
From this poster, it can be concluded that internal and
external environmental influences have an impact on
the business. This poster covers internal and external
elements that affect the business, as well as an
assessment of the organization's influence on the
external environment.