Strategic Management: Process, Models, and Tools

Strategic Management

Table of Contents
INTRODUCTION...........................................................................................................................3
A critical assessment of the process used by organisations to determine their strategy..................3
An evaluation of the critical models and tools used by organisations to determine their strategy..3
An application of these tools to a real organisation.........................................................................4
Critically appraise the importance of change management based on the complexity of the
transformation process, its costs, risks and sustainability................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Strategic management is a tool which is designed to provide a direction to Organisation by
creating policies and plans. The Plans and policies are developed in order to accomplish the
goals and objective of Business. With the help of strategic management, the companies can gain
competitive advantage due to its proactive nature as this toll helps in providing awareness of
changing market. Strategic management process starts form Identification of goals and strategic
direction of Organisation, then an analysis is conducted to understand the current process, an
action plan is created to reach the goal then the manager execute and evaluate the plan
(Mwakisaghu, 2019). The project covers the process, evaluation of critical models and tools,
application of the tools and importance of change management. The Chosen Organisation for
accomplishing this project is Tesco; it is a general merchandise retailer and groceries provider
Organisation located in Welwyn Garden City, UK. The Company deals in varieties of areas such
as electronics, financial services, clothing, internet services, furniture, toys, telecoms and
retailing of books. The main of the Organisation is to provide the goods and services to customer
at reasonable price. Due to its price and quality, Tesco becomes largest retailer in Country.
A critical assessment of the process used by organisations to determine their
strategy
The process used by Organisation to determine their strategy includes Company strategy,
Market forces and implement the tools and techniques to grow in business. The strategy of Tesco
is to become the leading supermarket by providing the products and services \at low price which
attracts customers to buy the products. The Organisation is also focusing on identifying the needs
and requirements of customers in order to fulfil them and gain loyalty of people towards the
brand (Ansoff and et. al., 2019). The benefits of this strategy is that company can create a strong
customer base whereas drawback of the strategy is that organisation pay more attention on
providing products at low price to customers rather than increasing the performance and
efficiency of business. After defining the business strategy, Tesco must focus on market forces
which can affect the growth of the Company. In market there are negative as well as positive
forces that can help in increasing the performance of Organisation. The market forces are caused
by short term fluctuations and long term trends. The benefit for addressing the market forces is
that company can increase their productivity by identifying the latest trend and adopting it to