Business Strategies for Tesco: Mission, Vision, Goals, and Core Competencies

BUSINESS STRATEGIES

INTRODUCTION
 Business strategy is the direction and scope by means of which an organisation
is able to achieve the desired goals and objectives. .
 Tesco is the multinational retail company headquartered in Welwyn Garden
City, Hertfordshire. It is a public limited company started in the year1919 by
Jack Cohen.
 In the following report, mission, vision, goals and core competencies of Tesco
are identified.
 Along with this, strategic positioning have been done in order to carry out
the organisational audit. On the basis of this, alternative strategies are prepared
related to market entry, substantive growth and retrenchment.

TASK 1
1.1 {a}Mission, vision, objective and core competencies
Mission, vision, objective and core competencies of Tesco
Mission, vision and objectives of the company are interrelated
with each other and indicates what the company is planning to
achieve in the future.
Mission of Tesco is “to prepare the things that creates much value
together.”
Vision of Tesco is “to become highly valued business organisation
by serving best to the shareholders, community, customers” .

CONTD...
 SMART objectives of Tesco is to create value for the
customers and at the same time gain lifetime customers
loyalty.
 Goals of Tesco is to achieve the long term goal of the
organisation.
 Core competencies of Tesco is to focus on customers
strategy.

CONTD..
{b}Mission, vision, objective and core competencies of
Walmart
 Mission:- To give people better life by saving their
money
 Vision:- To become one of the best retailer among
employee and the customers.
 Objective:- Objective of Walmart is to produce new and
innovative product and at the same time reduce the cost
of its production

CONTD...
 Aim:- To serve the best products that satisfy
the needs and wants of customers.
 Core competencies :- Use latest technology
and availability of hard working, efficient
and process oriented employees.