Understanding of Business Strategy (pdf)
Added on 2021-02-20
45 Pages12500 Words142 Views
RESEARCH PROJECT(How a business strategy should be developed to expand abusiness in an international market)
Table of ContentsCHAPTER 1: INTRODUCTION....................................................................................................5Background of the study.........................................................................................................5Research aim and objectives..................................................................................................6Research questions.................................................................................................................7Rationale of the study.............................................................................................................7Significance of the study........................................................................................................8Structure of dissertation..........................................................................................................8CHAPTER 2: LITERATURE REVIEW.......................................................................................10Theme 1: Understanding of business strategy in context of development models and theories...............................................................................................................................................10Theme 2: Strategies assessment and associated with business expansion in internationalmarket...................................................................................................................................12Theme 3: Identification of the strategies that can be used by company for business expansionat global level.......................................................................................................................13CHAPTER 3: RESEARCH METHODOLOGY...........................................................................16Research design....................................................................................................................16Research type........................................................................................................................16Research approach................................................................................................................17Research philosophy.............................................................................................................17Data collection......................................................................................................................17Sampling...............................................................................................................................18
Data Analysis........................................................................................................................18Research limitation...............................................................................................................19Ethical consideration............................................................................................................19Reliability of data and Validity of analysis..........................................................................19CHAPTER 4: DATA ANALYSIS AND DISCUSSION..............................................................21Theme 1: Maximum number of managers are working for around 15 to 20 years in Tesco plc...............................................................................................................................................21Theme 2: Business strategy development leads to strategic planning, formulation oforganization goal, communication and development of strategy.........................................22Theme 3: Strongly agreed, Tesco have strong opportunities of expanding its business ininternational markets............................................................................................................24Theme 4: Target market, is the best suitable method to be explored by Tesco...................25Theme 5: New products at lower prices, is a better option to attract consumer at internationalmarket...................................................................................................................................26Theme 6: Strongly agreed, Tesco is required to develop new product line in order to launch itsproducts in international market beyond its current global operations................................28Theme 7: Strongly agreed, internal and external market condition influence the businessdevelopment strategy to expand international market..........................................................29Theme 8: Business model design, is the most effective business strategy for development ofbusiness.................................................................................................................................30Theme 9: Market expansion and Franchising are effective strategies associated with businessexpansion in international market........................................................................................32Theme 10: Expansion of business by penetrating new market, is an effective strategy used byTesco for business expansion at global level.......................................................................33Theme 11: Challenges faced by the company at the time of business strategy development.34
Theme 12: Effective recommended strategic framework to Tesco for business expansion.35CHAPTER 5: CONCLUSION AND RECOMMENDATION.....................................................36Conclusion:...........................................................................................................................36Recommendation..................................................................................................................38REFERENCES..............................................................................................................................42APPENDIX....................................................................................................................................44QUESTIONNAIRE..............................................................................................................44
Topic: To evaluate business strategies associated with the expansion of business in aninternational market: A study on Tesco.CHAPTER 1: INTRODUCTIONBackground of the studyTesco Plc is one of the leading retail chain in the world with having its operations atinternational level. As a leading erectile the group have 450,000 employees and it serves millionsof consumers every week at its physical and online stores. The company was established in 1919and from there itself it has become a market shell. The Tesco plc have a code of business whichstates that each and every employee is a family. Tesco is a leading retail chain which is mainlyindulged in selling the groceries and general merchandise to millions of consumers. Tesco wasfounded in 1919 by Jack Cohen as a group of market stalls. The Tesco name first appeared in1924, after Cohen purchased a shipment of tea from T. E. Stockwell and combined those initialswith the first two letters of his surname, and the first Tesco shop opened in 1931 in Burnt Oak,Barnet. The business expanded rapidly, and by 1939 it had over 100 Tesco shops across thecountry. Tesco is listed on the London Stock Exchange and is a constituent of the FTSE 100Index. Tesco is operating in the market from last century its been 100 years from the formationof Tesco and it has expanded its operation to many countries of the world. In the time span of100 years the organization have gone global have managed to survive for a whole century andmaintain a leading position for a long time (Tesco Plc, 2019). At present Tesco operates in 11countries and that too successfully in developed nations of the world such as USA, UAE, Dubai.For taking the business global is not easy and this required formulation of internationalexpansion strategies and follow the same to expand the business and operate successfully. Theinternational expansion strategies of Tesco have one leading and important factor whichresuspending to the needs and sensitivity of the local expectations in other nations. This meansthat one of the main factor of international expansion strata of Tesco includes dealing with thelocal markets by entering into joint ventures with the local parters. This gives the organization anentry to an established markets and it is provided with a strong consumer base.
For the entering into a new market one of the essential requirement is formation of asignificant and correct strategy to enter a market. This requires researching the markets and theneed, demand of the markets, the policy framework and legal obligations. The availability ofdistribution channels, consumer base, market segment, funds availability, these are certainfactors which must be evaluated in advance before entering into a market. On the basis of thisresearch Tesco makes its international expansion strategy before entering into an internationalmarket. In the present research project a detail discussion over the business strategies adopted byTesco for expanding in the international market have been analysed. This means that Tescoenters the international markets with a signifiant business strategy which assist it n establishing anew branch for the business as well as expand the business operation to other nations as well.Although Tesco is third largest retailer in world after wal mart and Carrefoue and it has 80% ofthe sales along from UK. The international expansion by Tesco have been started in yearbusiness from past 20-22 years only, before that it is used to operate in UK only. Now half of thesales is contributed by the international operations and it is now present in more than a dozennations of the world.In the present research project the initiation is done through making the research proposalwhere the aims and objectives for the research topic of evaluation of the business strategies forthe international expansion of Tesco are formulated. On the basis of the research objectiveresearch questions are frames and the themes for presenting the literature review are abstracted.In the proposal the literature review contain the views and opinions of different authors andscholars over theories themes made from the research topic. The research methodologies definethe structure of the research and the way in which data will be collected and then analysers forresearching effective outcomes in the issues defined in the research topic. The data collectionmethods will be defined and on the basis of data collection techniques the data analysis andevaluation methods will be selected. In the present research project conclusion andrecommendation are made after evaluation of the data so collected the findings and results overthe research topic of investigating the effective business strategies for Tesco to enter theinternation trade and commerce.Research aim and objectives Aim
The aim behind conducting present study is to assess business strategies that positivelycontributes in Tesco’s expansion pertaining to international market. Objectives Referring above aim following objectives have been drafted such as:To develop understanding about business strategy development models and theories. To assess strategies associated with business expansion in international market. To identify strategies that can be used by Tesco for business expansion at global level.To recommend competent strategic framework to Tesco for business expansion. Research questionsHow a business strategy should be developed to expand a business in an international marketRationale of the study The present research project is conducted on evaluating the business strategies which canbe used by Tesco to expand its business in internation markets. The research have beenconducted in determining the business strategies for expatiation which can be used and adoptedby Tesco for going global and enhance its business operation to other nations as well. The reasonfor selection of this research topic is that one of the major trend in the expansion strategies forthe businesses in the present time is going global and start to operate and sale in the other nation.The research have made a detailed research over this subject and have chosen this topicdeliberately as this is one of the leading trends for the business organisation as part of theirexpansion plan. In this regard the main thing is that companies are required to considered isselection of a significant, effective and correct strategy, model and theories for going global or toincrease international operation. The reason behind selection of Tesco company is that it iscurrently operating in 11 countries only and this business is at third number amongst the retailchain of the world. So this is considered as the company over which the research have beenbased on. Also, the researcher of the view that Tesco can expand its business in other nations aswell with effect expansion strategies and models and can research to number one position amongothers retain chain around the globe.
Significance of the study The present study and its findings are highly significant for the companies operating atglobal level and wishes to explore business operations internationally. In addition to this, it alsoprovides Tesco with effectual framework regarding business strategy that can be used forexpansion purpose. Along with this, concerned study will also offer framework to scholars whowish to conduct study on this topic and assists in developing hypothesis as well for furtherevaluation. The significance of the resent research project have been identifies for the futureresearch who are conducting the research in the direction of elevating the business strategies forglobalization of Tesco as this study can provide them a base to start their research and it can actas a significance source to bas their research on. Also this research project can be useful for theacademic writers as well as they can find significant matters over their assignments andresearches for their project and the researches.Structure of dissertationChapter 1: IntroductionFirst chapter of dissertation includes background and significance of the study. It alsocontains research aim and objectives on which whole study is based. Chapter 2: Literature reviewThis chapter of dissertation is highly significant under which secondary sources such asbook, journals and scholarly articles related to business strategy development will be evaluated.Such brief thesis gives input in analysing gathered data set effectually. Chapter 3: Research methodologyIn this, research tools and techniques will be mentioned such as type, approach,philosophy, data collection and analysis method. Hence, it clearly presents tools which will beused for determining suitable solution from the concerned issue. Chapter 4: Data analysis and findingsUnder this chapter, data set gathered through primary sources will be evaluated andanalysed referring brief thesis prepared in literature review section. In addition, this, forpresenting better view of issue or problem graphs will be added.
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