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Assignment on Business Strategy

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Added on  2020-05-04

Assignment on Business Strategy

   Added on 2020-05-04

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Running head: BUSINESS STRATEGY (MRC)Business Strategy (MRC)Name of studentName of UniversityAuthor note
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1BUSINESS STRATEGY (MRC)Table of ContentsIntroduction......................................................................................................................................3Task 1...............................................................................................................................................3Analysis of the macro environment for determining strategic management decisions...............5Task 2...............................................................................................................................................6Analysis of internal environment to identify strengths, weaknesses, structure and skill set.......6Organization’s internal capabilities, structure and skill set.........................................................8Task 3...............................................................................................................................................9Porter Five Forces for Tesco PLC:..............................................................................................9Appropriate Strategy for gaining Competitive Advantages and market position......................10Task 4.............................................................................................................................................12Theories, concepts and models for managing interpretation of strategic directions..................12Interpretation of proper strategic management plan at Tesco PLC...........................................13Conclusion.....................................................................................................................................14References......................................................................................................................................16
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2BUSINESS STRATEGY (MRC)IntroductionThe report focuses on the implementation of business strategies considering the casestudy of the business organization named Tesco PLC in United Kingdom. The macroenvironment has been analyzed with the use of PESTLE analysis tool for determining thepolitical, economic, social, technological, legal and environmental factors that can create animpact on the organization as well as help in making strategic management decisions with easeand effectiveness. The analysis of macro environment will help in obtaining impact ofGovernment interventions, maintenance of values and beliefs, use of advanced technologiesincluding intelligent scale, electronic shelf labeling, etc. All these factors are analysed to make agood and effective strategic management decision and ensure successful business functioning.The internal environment of Tesco PLC will be assessed to identify the areas of strengths andweaknesses along with the structure followed by the organization (Barney 2014). The internalcapabilities will help in gaining success in the competitive business environment and gain goodlevels of profit too. The Porter’s Five forces model will assess the power of suppliers, buyers,rivalries, new entrants in the market, substitute products’ threat, etc. Lastly, the most effectivetheories shall be included for the development of most appropriate strategic plans andaccomplish the business goals and objectives with ease (Tesco.com 2017). Task 1Appropriate frameworks to analyse the impact of macro environment on TescoTesco, being a multinational retail company has managed to generate good amounts ofrevenue in business. It also provides financial services, hardware services, insurance, mobile
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3BUSINESS STRATEGY (MRC)services, etc. The PESTLE analysis is done for Tesco PLC to analyse the impacts created by themacro environmental factors on the business’ marketing and management. The PESTLE analysisincludes the political factors, economic factors, social factors, technological factors,environmental and legislative factors that have created both positive and negative effects on theorganizational functioning (Hoch and Kozlowski 2014). PESTLE analysisThe retail organization operates all over the world and thus the political factors impactgreatly on the performance of Tesco PLC, United Kingdom. The rate of interest, taxes paid,legislations, Acts has created impact on the organization where it has been functioning. This hascreated financial instability and thus the Government has implemented various rules andregulations to make the organization provide employment opportunities to them. The companyhas diversified its workforce, because of which, there have been more employment opportunitiesalong with increased demands of products and services for the customers (Johnson et al. 2013).The economic factors are considered by Tesco PLC to leverage the costs of products andincrease demands of products, profit level and set proper prices for the products and servicesdelivered too. The organization is aware of the changes in policies and procedures along withtaxation procedures have helped in managing accessibility of finance and furthermore createdopportunities to expand business globally. The company, being dependent on the UK market andeconomy has garnered a good market share of more than 30 percent with ease and effectiveness(Klettner, Clarke and Boersma 2014). The diversification of products and services andinternationalization has left out disposable incomes and thus the company has focused on theadvertising and promotions more to attract customers and influence their buying behaviours too.
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