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Strategic Planning of TESCO : Report

Added on - 06 Jan 2020

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BUSINESS STRATEGY
Table of ContentsBUSINESS STRATEGY.....................................................................................................................1INTRODUCTION................................................................................................................................3TASK 4.................................................................................................................................................34.1) Roles and responsibilities of the personnel involved in strategic planning.........................34.2) Requirement of resources to implement the new strategy...................................................34.3) SMART principles for TESCO............................................................................................6CONCLUSION...................................................................................................................................7
INTRODUCTIONStrategic planning means deciding strategies of an organization to achieve its long termobjectives. It is also known as the method through which the organization can develop itself. Bestplanned strategies also fail if the employees have not implemented strategy effectively. In this case,the entire report is based on strategic planning of TESCO and role and responsibilities of theindividual who are engaged in implementing planning process. TESCO is the multinational groceryand general retail company which is ranked as 2ndlargest retail company in the world. TESCO willimplement market development strategy to expand its business in the market. Apart from this, thereport determines essential resources which are required during strategy implementation.TASK 44.1) Roles and responsibilities of the personnel involved in strategic planningImplementing strategic planning can be achieved by efforts of a single person only. Thereare many person individual who are engaged in implementing the decided strategy in theorganization to achieve targets and goals in TESCO.Managers:Managers are the person who is engaged in the process of strategic planning ofTESCO's market development strategy. They invite other top manager in the process of preparingstrategic plan. This help to generate new ideas within the organization. He decides and evaluatesother option for implementing suitable strategy (Brush, 2015). Apart from this, he plays the role ofadvisory. In addition to this, he makes strategic suggestions and analyze strategic proposal.Project teams:Project teams mainly focuses on achieving business results by implementingplans. Apart from this, they help in developing and maintaining required document.They createlogical organizational structure to analyze and find required information for TECSO's marketdevelopment strategy.In addition to this, further they also help in developing inbound and outboundplans for attracting people towards product (Ghosal, 2015). Other than this they have theresponsibility of measuring, collecting and reporting the collected data to determine their uses in thebusiness.Leaders:Implementing a strategy needs efforts of every team who works under the leaders.Leaders motivate their team members to work for achieving the goals.In addition to this, theymonitor the work of their team members through which they can better implement marketdevelopment strategy for TESCO.4.2) Requirement of resources to implement the new strategyTesco is currently using strategy of cost leadership through which they can reduce their costof manufacturing the products. This will help them to make effectively profit within a given periodof time.
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