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Business Strategy of Tesco Plc | Report

   

Added on  2020-02-03

17 Pages4664 Words63 Views
BUSINESS STRATEGY

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................41.1 assess how business missions, visions, objectives,goals and core competencies inform the strategic planning.......................................................41.2 analyse the factors that have to be considered whenformulating strategic plan..........................................................................................................41.3 evaluate the effectiveness of techniques used whendeveloping strategic business plans...........................................................................................5Task 2...............................................................................................................................................62.1 analyse the strategic positioning of a given organisation by carrying out an organisationaudit.............................................................................................................................................62.2 carry out an environmental audit for a givenorganisation.....................................................................................................................................................72.3 assess the significance of stakeholder analysis whenformulating new strategy.....................................................................................................................................................72.4 present a new strategy for a given organisation....................................................................9TASK 3............................................................................................................................................93.1 analyse the appropriateness of alternative strategiesrelating to market entry, substantive growth, limited growthor retrenchment for a given organisation.....................................................................................................................................................93.2 justify the selection of a strategy.........................................................................................10TASK 4..........................................................................................................................................114.1 assess the roles and responsibilities of personnel whoare charged with strategy implementation...............................................................................114.2 analyse the estimated resource requirements forimplementing a new strategy for a given organisation............................................................11

4.3 evaluate the contribution of SMART targets to the achievement of strategy implementation in a givenorganisation..............................................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTIONBusiness strategies played a important role in the success of each and every business unit.It is pre plan of business which is supported by the tactics and operational plan. It start from thatstrategic planning where a business organisation is required to analyses its aims and objectiveswhich company wants to attain in the near future. It is a continuous process where the managerof the company try to improve its business performance through using various strategies andtactics. There are various tools and techniques which can be used by the manager in to analysesand planning process in a effective manner (Woodcock, Green, and Starkey, 2011). The presentreport is based on the Tesco Plc which is one of the leading and well known brand in the UnitedKingdom. This company is listed in to the London Stock Exchange. It is a retail chain whichoperate their business in to across UK. Apart from that they also having stores in the Asia andother European countries. Like Ireland, Hungary, France etc. The market share of Tesco PLC in the UK is approx. 28% which is quite goods ascompare to their competitors. The cited business unit was started their business in 1924 and atpresent time they having large number of stores across the world. For example, Tescosupermarket which is one of the large market segment and well known brand in the UK. TescoExtra which is a type of hyper market for the inner city location. The another type of storeoperated by the company is called One Stop which is one of a smallest type of store format in theUK. Apart from that they also having online portal where they can sale their products to itscustomers (Chen and et. al., 2012). They provide a wide range of products to its customers suchas books, fashionable clothing, furniture, oil products, hardware and software electronic items,and so on. They also have a large number of workforce which can help to attain their long termgoals and objectives. The firm is the price leader in the United Kingdom market because theyprovide goods and services at the lower price as compare to its competitors. It can also help toget the competitive advantage in the market. The core competencies of the business unit is thattheir operational efficiency and effectiveness. They have an integrated supply chain managementwhich can help to interlink all distribution and warehouse centre and reducing the time and costof the company. They also participate in to the CSR activities like helping to reduces foodwastage at the global level. Provide high quality products to its customers (Pagani, 2013).

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