Strategic Management for Crisis: A Case Study on Tesco Company
Added on 2023-06-08
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STRATEGIC
MANAGEMENT
MANAGEMENT
TABLE OF CONTENTS
ESSAY.............................................................................................................................................3
REFERENCES................................................................................................................................1
ESSAY.............................................................................................................................................3
REFERENCES................................................................................................................................1
ESSAY
Strategic management is the management of company resources to achieve the goals and
objectives. It helps in provide the direction by developing the policies and plans designed to
achieve the goals and objectives. It is the process build the action plans to ensure the company
performance targets and business continuous growth. Strategic management for firm to gain
profitability and competitive side over their company competitors. strategic management also
helps in assist the better performance of company as well as helps in enhance the probability of
organization (Drobyazko, 2019). The strategic management helps in planning the for unfeasible
contingencies and predictable as well as company can attain the competitive advantages with the
help of strategic management.
Strategic management is consisted the continues process that appraises the industry and
business as well as helps in fix goals and objectives to meet all the future and present
competitors of company. There are four process of strategic management such as environmental
scanning, strategy formulation, strategy implementation and strategy evaluation. The
environmental scanning is referring as the process of gathering and proving the information for
the strategic purpose, this process helps in analysis the external and internal factors which
influencing the business. In the context of strategy formulation, this process helps in deciding the
best action for accomplish the organizational goals and objectives (Kombate and Kouadio,
2022). The strategy implementation is process implies the strategy in organization into action
and the implementation of strategy also includes the decision-making process, distributing
process, managing human resources, etc. In terms of strategy evaluation, this process helps in
measure the performance of strategy and also take corrective action for meet the organizational
goals and objectives. There are various benefits of strategic management because it helps in set
the strategic direction for company and its employees.
Objective: To determine the strategies for the management of crisis in effective manner: A
case study on Tesco company.
Tesco Plc company is the largest retailing company in United Kingdom. the company
operates in the multiple area such as electrical appliances, clothing, banking, retailing,
customer’s financial services etc. Tesco company has its headquarters in the London, United
Kingdom. company conducted its business in four formats of store such as superstores, metro,
express and extra that all are based on the external factors of company. The chosen strategy of
Strategic management is the management of company resources to achieve the goals and
objectives. It helps in provide the direction by developing the policies and plans designed to
achieve the goals and objectives. It is the process build the action plans to ensure the company
performance targets and business continuous growth. Strategic management for firm to gain
profitability and competitive side over their company competitors. strategic management also
helps in assist the better performance of company as well as helps in enhance the probability of
organization (Drobyazko, 2019). The strategic management helps in planning the for unfeasible
contingencies and predictable as well as company can attain the competitive advantages with the
help of strategic management.
Strategic management is consisted the continues process that appraises the industry and
business as well as helps in fix goals and objectives to meet all the future and present
competitors of company. There are four process of strategic management such as environmental
scanning, strategy formulation, strategy implementation and strategy evaluation. The
environmental scanning is referring as the process of gathering and proving the information for
the strategic purpose, this process helps in analysis the external and internal factors which
influencing the business. In the context of strategy formulation, this process helps in deciding the
best action for accomplish the organizational goals and objectives (Kombate and Kouadio,
2022). The strategy implementation is process implies the strategy in organization into action
and the implementation of strategy also includes the decision-making process, distributing
process, managing human resources, etc. In terms of strategy evaluation, this process helps in
measure the performance of strategy and also take corrective action for meet the organizational
goals and objectives. There are various benefits of strategic management because it helps in set
the strategic direction for company and its employees.
Objective: To determine the strategies for the management of crisis in effective manner: A
case study on Tesco company.
Tesco Plc company is the largest retailing company in United Kingdom. the company
operates in the multiple area such as electrical appliances, clothing, banking, retailing,
customer’s financial services etc. Tesco company has its headquarters in the London, United
Kingdom. company conducted its business in four formats of store such as superstores, metro,
express and extra that all are based on the external factors of company. The chosen strategy of
strategic management is crisis management strategy. The crisis management’s strategy is
referred as strategies of management. It is the collective framework of choice and decision that a
business makes to respond to a crisis (Coombs and Laufer, 2018). The crisis management are
most important for business to gain the competitive advantages and also reduce the is take in
financial loss and also helps in build the damage reputation. If the company not have the crisis
management strategies, then the business strategy is at risk. The crisis strategic management
analysis the both external and internal environments of business. The crisis management can
build through the review the mission of organization and assess the organization weaknesses.
The essay reviews the case study on Tesco company crisis management. Tesco company
operate in retail industry at United Kingdom. The study focus on the supply chain of Tesco
company in the aspects of profitability which resolving the economic crisis affecting the market
segments of grocery chain. The Tesco crisis management is consisted the implementation of
customers based supply chain crisis management systems that helps in increase the current
profits and revenues of company as well as helps in retain the sustainability of firm. The crisis
management of Tesco company helps in maintain and enhance the profitability & revenues of
company. Tesco company implements the crisis management strategies effectiveness.
There are four methods of crisis management such as mitigation, preparedness, response
and recovery. this phase helps in develop the right move to recover the crisis management and it
is essential for analysis the business crisis and manage them carefully. in the context of
mitigation phase, that helps on create the risk management teams and financial team of company
and analysis the crisis as well as create the strategy to access the impacts on business (Wut, Xu
and Wong, 2021). in the preparedness phase, the company review the policies, rules and
regulations as well as hold the board meetings to discuss the crisis. In the context of response, to
access the response for benefits and get advantages and get response form the company
stakeholders, employees and board members regarding the crisis recovery. in the crisis
management, recovery is the last phase where the company adopted the strategic plan to recover
the crisis as well as access the recovery funding and that strategies helps in manage the trauma of
business.
There is various crisis which are faced by the Tesco company such as covid-19 situation,
financial problems, horsemeat, accounting scandals that all crisis will discussed below as per the
study of crisis management of company.
referred as strategies of management. It is the collective framework of choice and decision that a
business makes to respond to a crisis (Coombs and Laufer, 2018). The crisis management are
most important for business to gain the competitive advantages and also reduce the is take in
financial loss and also helps in build the damage reputation. If the company not have the crisis
management strategies, then the business strategy is at risk. The crisis strategic management
analysis the both external and internal environments of business. The crisis management can
build through the review the mission of organization and assess the organization weaknesses.
The essay reviews the case study on Tesco company crisis management. Tesco company
operate in retail industry at United Kingdom. The study focus on the supply chain of Tesco
company in the aspects of profitability which resolving the economic crisis affecting the market
segments of grocery chain. The Tesco crisis management is consisted the implementation of
customers based supply chain crisis management systems that helps in increase the current
profits and revenues of company as well as helps in retain the sustainability of firm. The crisis
management of Tesco company helps in maintain and enhance the profitability & revenues of
company. Tesco company implements the crisis management strategies effectiveness.
There are four methods of crisis management such as mitigation, preparedness, response
and recovery. this phase helps in develop the right move to recover the crisis management and it
is essential for analysis the business crisis and manage them carefully. in the context of
mitigation phase, that helps on create the risk management teams and financial team of company
and analysis the crisis as well as create the strategy to access the impacts on business (Wut, Xu
and Wong, 2021). in the preparedness phase, the company review the policies, rules and
regulations as well as hold the board meetings to discuss the crisis. In the context of response, to
access the response for benefits and get advantages and get response form the company
stakeholders, employees and board members regarding the crisis recovery. in the crisis
management, recovery is the last phase where the company adopted the strategic plan to recover
the crisis as well as access the recovery funding and that strategies helps in manage the trauma of
business.
There is various crisis which are faced by the Tesco company such as covid-19 situation,
financial problems, horsemeat, accounting scandals that all crisis will discussed below as per the
study of crisis management of company.
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