Strategic Management

Strategic Management
1

INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................4
A critical assessment of the process used by TESCO to determine their strategy......................4
An evaluation of the critical models and tools used by organisations to determine their strategy
.....................................................................................................................................................4
An application of these tools to TESCO......................................................................................5
Critically appraise the importance of change management based on the complexity of the
transformation process, its costs, risks and sustainability...........................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
Books and Journals..........................................................................................................................8
2

INTRODUCTION
Strategic management is defined as systematic management of an organisation strategies and
resources with an aim to accomplish its objectives and goals with higher efficiency. It is a
formative process that includes different elements such as setting objectives, evaluating
competitive environment, identifying internal organisation, ensuring that management implement
strategies in accurate matter and evaluating policies and measures (Baumann, 2020). Along with
this strategic management also includes undertaking feedback in order to properly monitor and
execute planning to accomplish underlined objectives as to gain more competitive advancements.
Present report has been conducted on Tesco which is operating its business services in retailing
sector and was founded in the year 1919. This company offers its products and services through
Superstore, Supermarket, convenience shop and hyper market. In this report formative discussion
has been conducted on concept and model which is associated to organisational strategy and
importance of change management for organisation growth and development.
MAIN BODY
A critical assessment of the process used by TESCO to determine their strategy.
According to the critical assessment it has been evaluated that management of TESCO
undertakes advantage of SWOT and PESTLE analysis techniques in order to determine its
strategies. With the help of these processes company identified its strength and weaknesses in
respective aspects such as political, technological and more that allows entity to formulate
effective strategy and further implement the same. With the help of this TESCO assures high
growth and development in respective industrial area.
An evaluation of the critical models and tools used by organisations to determine their strategy
Strategic planning process plays most important role and act as an effective method
through which organisation can effectively accomplish its long term and short term objectives. In
order to develop a strategic plan or process it is essential for an organisation to underline gap
analysis and have smart objective or strategies. In context with present scenario it has been
identified that Tesco with the help of strategic planning process undertake advantage of Pestle
and SWO analysis. Through this model company effectively identifies different factors that are
prevailing in external environment in order to develop strategy for growth and higher
competencies in market. With the help of PESTLE analysis which is an effective strategic model
3

organisation can identify the factors and changes within political, economic, social,
technological, environment and legal aspects along with its negative and positive impact upon
business operations. With the help of this model Tesco determines the strategy and implements
the same within an aim to enhance organisational overall profitability and productivity. While on
the other hand with the assistance of SWOT analysis, company identifies its strengths,
weaknesses, threats and opportunities (Chugumbaev and et. al., 2020). In addition to this, it has
been evaluated that, this model provide assistance to Tesco management through which company
determines its actual strength and overcome weaknesses in a well define an effective manner.
Along with this SWOT analysis also assist organisation to undertake advantage of opportunities
at prior stage comparatively to other rivals in industry.
Thus, according to the above mentioned analysis it has been evaluated that, with the help
of both of these models Tesco aim towards acquiring more market share in retail industrial
sector. SWOT and PESTLE analysis also aid Tesco to enhance its existing positioning and brand
image in respective industrial sector (Miragaia and Guedes, 2020). These models is being used
by Tesco through which an organisation effectively determined different type of factors and
elements that can have negative as well as positive impact upon company growth and
performance. These factors will also facilitate company to undertake proper decision-making
through which higher growth and development can be assured.
An application of these tools to TESCO
STRENGTH WEAKNESSES
 Tesco is having high brand reputation
due to its high quality products and
services and loyalty among customers
in retail industrial sector.
 Company have strong relationship with
government authorities as it abides all
the laws and legislation enforced upon
retail sector in an effective manner
(Zhang and et. al., 2020).
 Tesco is having attractive
advertisement and promotional
 Major weakness that Tesco faces is due
to fear for change among employees
that somehow slower down company
execution of strategy compared to other
rivals.
 Company is having lack of
development and training facilities for
employees within industry
comparatively to other competitors.
4