Business Strategy of Tesco Company
Added on -2020-07-22
| 11 pages| 2775 words| 80 views
Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 11 pages
Business Strategy
ContentsIntroduction.................................................................................................................................................5Task 1..........................................................................................................................................................51.1 Mission, vision and objectives of Tesco............................................................................................51.2Factors considered by organization while formulating strategic plan.................................................61.3 Effectiveness of techniques which are used by Tesco for strategic planning.....................................6Task 2..........................................................................................................................................................72.1 Organizational audit of Tesco............................................................................................................72.2 Environmental audit of Tesco............................................................................................................82.3 Stakeholder mapping and its significance for business......................................................................82.4 New strategy for Tesco......................................................................................................................9Task 3..........................................................................................................................................................93.1 Alternative strategy............................................................................................................................93.2 Effective and suitable future strategy for Tesco...............................................................................10Task 4........................................................................................................................................................104.1 Role and responsibility of personnel................................................................................................104.2 Requirement of resources................................................................................................................114.3 Contribution of SMART objectives.................................................................................................11Conclusion.................................................................................................................................................11References.................................................................................................................................................12
IntroductionBusiness strategy can be defined as set of works which supports an organization to m accomplish their goal and sustain in the market for longer duration. It is systematic process which assist in identifying business goal, mission and objectives (Wu, Gao and Gu, 2015). Present report is based on Tesco which is well known international brand in the field of retail. Current assignment will discuss mission, vision of Tesco. Furthermore, effectiveness of techniques which firm need for development of their strategic plan. In addition, study will conduct environmental audit and will analyses appropriateness of alternative strategies for the organization.Task 11.1 Mission, vision and objectives of TescoMission supports an entity to meet with the expectation of stakeholders. It assists in carrying out business in smooth manner. Mission statement of Tesco is to become top most brand in the retail supermarket sector (Ready and et.al., 2014).VisionTo satisfy staff members, customers and stakeholdersTo earn loyalty of customersTo expand its business across the worldTo increase market share and gain competitive advantage.Objective:Goal and objectives are guidelines for any business which helps entity in achieving their desired goal within estimated period of time. It may be short term or long term. Goal and objective of cited firm are as following:To become successful brand in this industry.To improve its services and provide innovative products to customers (Padukkage, Toland and Hooper, 2014).Core competenceThese are essential element which assist the firm in getting success. Business strategy cannot meet with its target until company have required competence. Core competency of Tesco are as following:Wide retail network which support Tesco in expanding its business across the world an achieving its goal. Another core competency of cited firm is skilled employees those who contribute well in the success of organization.
Found this document preview useful?
You are reading a preview
Upload your documents to download
or
Become a Desklib member to get accesss
Paid Plans
Free Plan
Single Unlock
Monthly Plan
Yearly Plan