Table of Contents Introduction................................................................................................................................1 a. Company Profile.................................................................................................................1 b. Mission and Vision statement............................................................................................2 c. Goals and objectives...........................................................................................................2 d. Core competencies.............................................................................................................2 b. Factors which are required to be taken into consideration while formulating the strategic plan by using the Ansoff Matrix................................................................................................3 c. Effectiveness of strategic planning techniques while developing the strategic business plan ....................................................................................................................................................4 Task 2.a Organizational audit by using Porter’s five forces in order to understand business environment and strategic positioning.......................................................................................4 b. Importance of stakeholder analysis in designing the new business strategy.........................6 c. Represent a new strategy for the business organization on the basis of the audit of the organization................................................................................................................................7 Task 3.........................................................................................................................................8 a. The appropriateness of the alternative growth strategies for entering into the market..........8 b. The future strategy for the organization and the justification to select that strategy.............9 Task 4.........................................................................................................................................9 a. Planning for the implementation of the strategy in respect of the following issues..............9 2
i. Roles and responsibilities for the purpose of implementation of the strategy in the organization..........................................................................................................................10 b. Contribution of SMART targets for the achievement of the strategy implementation........11 Conclusion................................................................................................................................11 Reference..................................................................................................................................12 3
Introduction The report is based on the food retail market of UK. The report discusses about the mission, vision, goals, objectives, core competencies, different factors for developing the strategic plan, the strategic planning technique, Porter’s five forces, importance of stakeholders, new business strategy on the basis of the audit of the organization, future growth strategy of the organization, effectiveness of the alternative growth strategy, requirements of the resource for the implementation of the new strategy and the contribution towards the SMART targets for the purpose of achievement of the strategy implementation. Task 1.a a. Company Profile Tesco is considered as one of the biggest multinational company operating in the grocery market of UK and it is operating in the merchandise segment of the UK market. In respect of profit earning perspective the company Tesco has established itself as the second largest retailer of the world. The strong presence of the company all over the world has made the company as a dominant player in the grocery market (Tesco, 2012). b. Mission and Vision statement Vision of Tesco offers a proper direction to the company as vision is considered as the kind of photograph which represents the future of the company. Tesco’s vision clearly emphasises on the adoption according to the needs of the customers. Mission of the company Tesco on the other hand emphasizes on what the company does and what are the products and services 4
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