Business Strategy Assignment Tesco Plc

Added on - Dec 2020

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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. The impact and influence of the macro environment on Tesco and its strategies..........3TASK 2............................................................................................................................................7P2. Analyse the internal environmental and capabilities of a company by using appropriateframework...............................................................................................................................7TASK 3............................................................................................................................................9P3. Applying Porter’s Five Forces model and evaluate the competitive forces.....................9TASK 3..........................................................................................................................................11P4. Applying various models, concepts and theories and produce a strategic management plan..............................................................................................................................................11CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONStrategy is a step by step action planned by individual or organisation to achieve their preset goals. When strategy is made according to the strengths and weakness of the company then itbecomes business strategy for them. For this report, Tesco Plc is taken for consideration which isone of the largest retail chain in United Kingdom. It deals in various kind of business insupermarket, hypermarket, convenience store etc. Different frameworks will be used in thereport to identify and analyse environment like pestle and porters five forces model. Other thatthat internal analysis would also done with the help of SWOT framework so that effectivebusiness strategy would be made. Along with this, different theories and models will alsoexplained by using it in strategic planning.TASK 1P1. The impact and influence of the macro environment on Tesco and its strategies.Business environment is a combination of internal and external environment. There areseveral forces which effect organisation directly or indirectly like suppliers, stakeholders,government, suppliers, competitors etc.. It includes several factors like competitors, government,customer, political, legal, economic and legal conditions. Business environment is unpredictableas it keeps on changing according to the economic, culture changes and it effect its growth.Business strategy is the framework which is prepared by company in order achieve its vision,objective efficiently by optimising the available resource. (Bharadwaj and et. al., 2013).To analyse the impact and influence that macro environment has on Tesco and itsbusiness strategies, management department of company can use PESTEL analysis for it.PESTEL ANALYSIS:It is essential for company to cope up with the external factors as it is directly linked withthe performance of company because external environment can not be controlled or modifyaccording to business. To evaluate the environment, Tesco can use pestle analysis which isexplained below with the help of functional example,Political factor:This factor includes many time of factors like political stability, taxrates, excise duties imposed by government etc. As after the news of Brexit, there hasbeen instability in the UK due to which company has not been able to perform with theirhighest potential. As due to it, Tesco could not take any decision regarding expansion of
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