Strategic Management | Assignment
Added on 2020-10-22
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Strategic Management
EXECUTIVE SUMMARYIn this report different essential topics of strategic management will be discussed.Organisations needs to adopt effective tools and policies in order to perform their daily activitiesin an efficient and better manner. In this report, two strategies for strategic management will bediscussed for getting an upper competitive edge in the market. These strategies are Porter'sgeneric strategies and Porter's five forces model. Based on these two strategies,recommendations will be provided which is helpful for the Tesco to gain an competitiveadvantage over their competitors at the market place.1
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Overview of organisation.......................................................................................................3Porter's five forces model.......................................................................................................4Porter's generic model............................................................................................................8CONCLUSION..............................................................................................................................10RECOMMENDATIONS...............................................................................................................10REFERENCES..............................................................................................................................112
INTRODUCTIONStrategic management is the process of continuous monitoring, planning, assessment andanalysis of everything which is important and beneficial for a firm to achieve its desiredobjectives and goals. In management, it is often referred as the development and implementationof strategies and policies adopted by the organisation by considering the resources and analysisof internal and external environment factors on behalf of various stakeholders. This report isbased on the firm Tesco which is the largest retail organisation of UK. The firm was establishedby Jack Cohen in year 1919 at Welwyn Garden city, England, United Kingdom. This report willdiscuss the strategic analysis of Tesco using the theories of Porter's five forces and Porter'sgeneric model.MAIN BODYOverview of organisationTesco is a British retailer company which is dealing in groceries and merchandise retailitems. It is headquartered in Welwyn Garden city, England, United Kingdom. It is the thirdlargest retail organisation in world in terms of gross revenues. It is the world's 9th largest retailerin terms of revenue. The firm is operating in seven countries across Asia and Europe, Ireland,Hungary and Thailand and also it is the largest retail chain in UK in terms of providing groceries.The firm has a market share of approx. 28.4%. Tesco was founded in 1919 as a small group ofstalls (Bryce, 2017). The name first appeared when Jack Cohen buy a shipment of tea from T. E.Stockwell and used his first two letter of his name. The first shop of firm was opened in 1931 atBurnt Oak, Barnet. The business of Tesco expanded rapidly by 1939 and the firm opened over100 Tesco shops across the country. The firm expanded their business to 11 countries by 1990.The firm is listed on London Stock Exchange and also a constitutional of FTSE 100 Index. In2015, the market capitalisation of firm was 18.1 Billion Pound. Tesco comes at 28th position onLondon Stock Exchange. The company is also interested in film studios and is investing in asmall studio for producing their own DVD's. The firm is employing over 476,000+ employees intheir over 6553 shops across the world.The firm has faced several issues and problems due to which the fresh and easy stores ofthe firm in US get highly affected. This has led to loss of 1.2 Billion pound to the organisation.Due to this loss, Tesco was in dilemma to close their business or come up again with new ideas3
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