Strategic Management: Process, Models, and Tools

STRATEGIC
MANAGEMENT

Table of Contents
INTRODUCTION.................................................................................................................................3
TASK....................................................................................................................................................3
PROCESS ADOPTED FOR STRATEGIC MANAGEMENT BY VARIOUS ORGANIZATIONS3
MODELS AND TOOLS USED BY THE VARIOUS ORGANIZATIONS TO FOR PLANNING
THE STRATEGIES..........................................................................................................................4
MODELS AND TOOLS USED BY TESCO IN ORDER TO PLAN THE STRATEGIES..............5
IMPORTANCE OF PLANNING AND EXECUTING A CHANGE MANAGEMENT...................7
CONCLUSION.....................................................................................................................................7
REFERENCES......................................................................................................................................8

INTRODUCTION
Strategic management is referred to the process which involves planning, monitoring,
analyzing, assessing the requirements of the organization that are important in order to fulfill
the aims and the objectives of the organization. Strategic management is a continuous
process. Strategic management helps in coping up with the changes in the business
environment that are required to be adapted by the organization as well. The process of
strategic management is about analyzing the current situation of the organization and framing
policies accordingly and then later bringing them into practice. After the policies have been
brought into practice, later the effectiveness of the strategies is evaluated (Alhefiti, Ameen
and Bhaumik, 2019).
Tesco is a UK base multinational corporate that deals in retail business. It is among
the top retailer across the globe in terms of revenue. Tesco has its headquarters established in
London, UK. In terms of grocery, Tesco is the market leader in UK. It has its business
established in various countries across Europe. The organization was established in the year
1919 in London. Tesco has expanded its operational activities in over 11 countries across the
globe. The report focuses on the Strategic Management techniques that are adopted by Tesco
(Andriani and et.al., 2019).
TASK
PROCESS ADOPTED FOR STRATEGIC MANAGEMENT BY VARIOUS
ORGANIZATIONS
The strategy planning is very crucial for the organizations in order to achieve the
goals of the organizations. In absence of strategy, the operational activity of an organization
cannot be performed in an effective and efficient manner. In order to plan the strategies in an
efficient manner, various steps need to be performed. The steps required for the execution of
strategic management are as follows-
 Determining the strategic position- This instruction segment involving the identification
of position sets the level for all scenarios going forward. You want to recognize wherein
you're to determine in which you need to move and the way you may get there. Get the
proper stakeholders involved from the start, thinking about internal and external
resources. It can also be useful in developing organization’s mission and vision
statements to provide yourself and your group a clear image of what achievement looks as
if on your business. In addition, you should evaluate your organization’s core values to
remind the organization about how the organization is going to perform in order to
achieve those goals (Assar and Hafsi, 2019).
 Framing of objectives- Once the organization has identified various current positions in
the market the next aim is to develop the aims that are to be achieved by the organization.
This will help in achievement of the goals in a prominent manner and effectively. The
objectives must link with the mission and vision of the organization. The objectives must