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Assignment on Strategic Management of TESCO

   

Added on  2020-06-03

10 Pages3286 Words63 Views
Business DevelopmentLeadership Management
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StrategicManagement
Assignment on Strategic Management of TESCO_1

TABLE OF CONTENTSINTRODUCTION:..........................................................................................................................1MAIN BODY...................................................................................................................................1Competitive analysis of Tesco:,.......................................................................................................4CONCLUSION ...............................................................................................................................6REFERENCES:...............................................................................................................................9
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INTRODUCTION:The goals and objectives of company is formulated by top management. They areresponsible for implementation of goals and objectives that has to be achieved by company.They analyse internal and external factors while developing goals and objectives. Besides this,strategies are formulated by them on how those goals will be achieved (Hill, Jones andSchilling, 2014) Developing strategy provides a platform through which goals can be achieved.Moreover, strategic management helps in tackling issues and problems. Also, it is becomes easyfor company to analyse what are the internal and external factors that can affect an organisationgrowth and development. According to this, actions and measures are taken. The strategies aremodified with change in factors. It is beneficial for business to implement different strategies sothat there is smooth flow of operations. Organisation always have a back up plan that is used incritical situations. For this assignment organisation taken is TESCO. It belongs to retail sectorand operates at global level. Thus, they require effective strategic management to develop goalsand objectives. MAIN BODYIssues faced by the company in terms of competitionTESCO is facing several issues that is affecting its growth. Due to this its market shareand profits are reduced. Also, it is having a great impact on its operations (Moutinho andVargas-Sanchez, 2018) The major issue faced by TESCO is increased of competition in themarket. Due to entrants of new companies in local and global market TESCO performance ishighly affected. There are several issues faced by company as stated below :- Reduction in profits- TESCO profits are been highly reduced in recent times due to intensecompetition. It is because of various other local and global companies that are emerged in themarket. This has lead to decrease in sales as customers are attracted towards new products andservices.Product development- There is frequent change in taste and preference of customer. It hasforced companies to develop products accordingly to satisfy their needs. TESCO is able to meetthose needs but is facing competition from change in technology.
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