Business Strategy Assignment :Tesco PLC
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Added on 2020-12-30
Business Strategy Assignment :Tesco PLC
Added on 2020-12-30
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BUSINESS STRATEGY
Table of ContentsINTRODUCTION...........................................................................................................................1Main body...................................................................................................................................1P1 Application of appropriate framework top analyse the impact of macro environmentalfactors on strategies of the organisation......................................................................................1P2 Analyse the internal environment and capabilities of a given organisation using appropriateframework...................................................................................................................................2P3 Apply Porter 5 force model to evaluate the competitive forces impacting Tesco plc...........4P4 Apply a range of theories, concepts and models to interpret and device the strategicplanning for Tesco plc.................................................................................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONA proper Business strategy is very important for a trade organisation that will help insuitable growth and rise in effectiveness of business firm. Besides this, a good strategicassessment will support an increase in business performance of the organisation. The analysis ofinternal and external assessment will help in increasing the business activities and growth of abusiness organisation. The report is been presented in context of Tesco Plc which is a publiclimited firm working in retail sector. The report will focus on the application of appropriateframework using the macro environmental factors affecting the business entity and its strategies.The internal and external capabilities of a business entity is been applied in organisationalcontext. The porter 5 force model is been applied to evaluate the competitive forces impactingthe cited organisation. Besides this, a wide range of theories, models and concepts are beenapplied for better strategic planing in cited business entity.Main bodyP1 Application of appropriate framework top analyse the impact of macro environmental factorson strategies of the organisation.The Tesco plc is one of the major impacting element that influence the performance andexecution of business activities by the cited retail entity. The macro environmental factors willimpact the business performance of the organisation to a greater extent form outside. Besidesthis, it will also influence the strategic development of the business entity that is been taken inconsideration by management of cited retail entity. The macro environmental factors over a firmare been evaluated through the means of PESTLE analysis which will give out elaborativedescription of extent of influence, macro environmental factors have on cited retail entity is asfollows:Political factors: on the local as well as global level, governmental policies and politicalconditions have impacted the business performance of the cited retail entity to a greaterextent. It will influence the performance of cited retail enterprise deeply. The tax ratesand policies that are been developed by political authority within a location or a country.Tesco has to convince this political authorities that it is generating a good amount of jobsfor its people.Economic factors: it is the main element of concern that is been looked after by citedretail entity. This includes rents, establishment cost and profit that is been developed by1
organisation that supports a good rise in strategic management of business activities to befollowed by firm. It also facilitates good access to different sources of finance. As theglobalisation is increasing, the firm will look after proper handling of business operationswhich are required to be followed to strategically grow on international level.Social factors: it is been varied from location to location and thus has to be monitored bythe cited retail entity. It involves the customers or people who are now moving towardsbulk and one stop shopping. It also influences the sales and provide the firm a detailedidea about customers needs and requirements. Besides this, it has also impacted thestrategy of company to consider social conditioning and meeting customers requirementsto a greater extent. Other than this, it helps in development of new and innovativeproducts and services.Technological factors: with rise in usage of the latest technologies in different businessoperations will impact overall performance of the organisation. It will help in meetingcustomers meeds and demands in an effective way. Other than this, the involvement ofthe latest technologies like social media and online marketing will help cited businessentity to grow and develop. It will help the firm to draft an appropriate online strategythat will increase the performance of cited retail entity in a very significant way. Besidesthis, it will save time and effort implemented by Tesco plc.Legal factors: it is one of the most important and viable factor which is needed to betaken in consideration by business entity. The effective following of legal obligations willhelp the cited entity to avoid any sort of dispute and help in strategic conflictmanagement. Besides this, it helps in improving ethicalness of the firm.Environmental factors: as the environmental concerns are been raising on the globallevel, it has impacted the strategic execution of business operations followed by Teco plc.It has encouraged cited retail enterprise to develop environmental friendly product andreduce the carbon footprints by the firm.P2 Analyse the internal environment and capabilities of a given organisation using appropriateframework.Unlike external environment, the internal capabilities and environmental factors impactthe organisation to a greater extent. The internal factors are required to be managed effectivelyby management of organisation in order to clarify and improve the performance and profitability2
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