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Strategic Management Assignment(SM)

   

Added on  2020-05-11

14 Pages2670 Words212 Views
Leadership ManagementProfessional Development
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Running head: STRATEGIC MANAGEMENTStrategic ManagementName of the Student:Name of the University:Author Note:
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2STRATEGIC MANAGEMENTTable of ContentsExecutive Summary.........................................................................................................................2Market size and trends.....................................................................................................................2Financial and Corporate Performance.............................................................................................4Strategic options..............................................................................................................................6Final recommended strategy............................................................................................................7Implementation of final strategy......................................................................................................8Monitoring and control of Future Performance...............................................................................9Reference List................................................................................................................................11
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3STRATEGIC MANAGEMENTExecutive Summary The main purpose of the assignment is to discuss about the strategic managementapproaches that are adopted by UK supermarket chain named as Tesco MultinationalCorporation (Tesco PLC, 2017). The public limited company came into existence in the year1919 and currently ranks third largest among the global grocer as well as merchandize retailer interm of revenue. In addition, the Unique Selling Proposition of Tesco Multinational Corporationhad been its size as they have large in-built spaced stores that are located outside the town. Thecurrent segment explains about market size and trends of Tesco Multinational Corporation. Thepresent study provides details about three strategic options and then selects the bestrecommended strategy for the supermarket retail chain that will help them to sustain their currentmarket position in UK retail market. Market size and trends According to current market trends, Tesco Multinational Corporation had lifted themarket share for first time in 5 years (Wood, Wrigley & Coe, 2016). The supermarket chain inUK reports positive underlying sales growth during the festive season (Christmas). TescoMultinational Corporation had expanded its operations aggressively as well as profitably tobecome one of the reputed Multinational Corporation and occupy the topmost position in retailsector or industry in and across three major regions and these regions are Europe, United Statesand Asia.
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4STRATEGIC MANAGEMENTThe retail market of United Kingdom is dominated by four biggest retailers and thesecompanies face stiff competition with each other and they are Tesco Multinational Corporation,Sainsbury, Morrisons and Walmart (Wood, Coe & Wrigley, 2016). Figure: Comparison of market trends between all retail sales and clothing or footwear inUK for the year 2014 to 2017)(Source: Varley, 2014).The retail market in UK is sailing into a perfect storm. This is because of recessionstricken times when there was fall in profits and cutting jobs. Tesco Multinational Corporation had diversified its operations in terms of geography aswell as products or services as it is provided to the customers. The supermarket retail chain inUK operates in 14 countries with more than 4811 stores. The employees who are working underTesco Multinational Corporation are 4,72,000 (Sparrow, Hird & Cooper, 2015).
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