Strategic Management Assignment Solution - TESCO
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Added on 2020-11-23
Strategic Management Assignment Solution - TESCO
Added on 2020-11-23
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Strategic Management
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK A...........................................................................................................................................41. Overview of organization .......................................................................................................42. Target market of Tesco and core competence of firm ...........................................................53. Strategy development .............................................................................................................54. Analysing the effect of external environment on company and the way its leads to strategyre-evaluation . .............................................................................................................................55. Identifying the strategy adopted by Tesco for gaining the competitive advantage. ...............66. Analysing an enterprise approach to strategy development ...................................................77. Identifying the approach which mostly like to benefit company ..........................................7PART B............................................................................................................................................71. Analysing the external factors effecting the business operations of organization. ................72. Identifying the country specific issues ...................................................................................93. TESCo Porter Five forces analysis........................................................................................94. Evaluating the internal competencies of Tesco ....................................................................10TASK 2 .........................................................................................................................................111. Defining the risk and importance of managing risks............................................................112 Analysing the way Tesco manages data as a part of strategic planning procedure. .............113. Identifying Risk which can effect strategy development procedure ....................................124. Incidents related to risk in organization ...............................................................................125. Analysing the Techniques used by Tesco for managing Risks ............................................126. Evaluating the mitigating approach used by TESCO for dealing with Risk ......................12Ques 3. ..........................................................................................................................................121. Defining stakeholders ...........................................................................................................122. Identifying the stakeholders of TESCO and their needs ......................................................133. Evaluating the stakeholder theory in context of Tesco .......................................................134. Critically analysing the relationship of company with its stakeholders. ..............................135. Role of stakeholders in strategic planning and examining the approach adopted by Tescofor engaging stakeholders ........................................................................................................13
6. Techniques used by Tesco for gaining the support from stakeholders during strategicdevelopment procedure.............................................................................................................14B. ...................................................................................................................................................141. Definition of Corporate social responsibility........................................................................142.Identifying the approach used by Tesco in context of CSR...................................................143. Analysing the way CSR is incorporated in an enterprise strategic planning process. .........144. Determining the effect of CSR of image of brand or company ..........................................15CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONStrategic management can be defined as the procedure which includes different activitiessuch as planning, monitoring and analysing which is very much essential for company in order toachieve desired business goals. It is basically a part of management which is mainly concernedwith establishment of mission, vision for an enterprise. Strategic management can also beconsidered to be as analysis of the different variables associated with the competitors orcustomers. An effective strategic management is important in order to drive an organizationtowards success. Strategic management also includes management of business resources. Itprovides an appropriate framework for decisions making by leaders or managers in an enterprise.An effective strategic management is specially important for those companies which areoperating business at international level, as it will assist them in maintaining their sustainabilityin global environment. The report emphasizes on identifying the procedure of strategic development. Study willalso have focus on identifying the effect of external environmental factors on organization inContext of Tesco. It British Multinational company operating business in retail sector. Thestrategy which is presently used by the Tesco for gaining the competitive advantage will behighlighted in the assignment. TASK A1. Overview of organization Tesco is a British multinational organization operating business in retail sector. It isbasically an international grocery as well as merchandise retailers. A saturation is among thethird largest retailer in world in terms or revenue. Business entity has retail outlets in differentcountries which assist an enterprise in delivering goods or services to wide number of customers.The products or services offered by business entity are books, clothes, toys, electronic items ,furniture. An enterprise consists of team of 460000 highly skilled as well as talented employeesworking at different locations. Tesco consists of market share of 28.4 percent in UK (Steiss,2019). Mission of Tesco is simple that is an organization wants to gain the loyalty of customersby providing them with highly valuable products or services. In addition to this, objectives of thecompany is to provide quality as well as better products to its customers. Vision of Tesco is to
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