Strategic Management Plan for Tesco: PESTLE, SWOT and Porter's Five Forces Analysis

This report provides a strategic management plan for Tesco, including PESTLE, SWOT and Porter's Five Forces analysis. It evaluates the internal and external environment of the company and provides recommendations for strategic options.

Unit Number and Title Unit 32 – Business
Strategy
Title Strategic
Management Plan
1

Table of Content
Introduction 3
Part A: An internal and external analysis that provides a platform
for strategic decision making: 3-10
1. PESTLE and SWOT of the organisation and an evaluation of the
organisation’s resources and capabilities 3-7
2. Competitive environment analysis using Porter’s Five Forces model
7-9
3. Identification and justification of the organisation’s existing and/or potential
competitive advantage 9-10
4. Valid strategies and tactical objectives to achieve overall strategic
objectives 10
Part B: On the basis of this analysis critically evaluate and justify
strategic options for the organisation: 10-14
1. Critical evaluation of the different types of strategic directions available to
the organisation 10-12
2. Justification and recommendation of the most appropriate growth platform/s
and strategies 13
3. Evaluate ways and means by which the chosen strategy/ies can be
monitored in order to ensure success 13-14
5.0 Conclusions 15
References 16-17
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Introduction
A strategic management plan is basically considered to be a document that is
available in the company that helps and also ensures that the stakeholders and
employees are working in a effective manner towards achievement of organisational
goals and objectives. In this report, Tesco has been chosen as the organisation. It is
a British based general merchandise founded in 1919 and headquartered in Welwyn
Garden City, United Kingdom. In this report it involves the influence and impact of
the macro environment on the organisation with support of various business
strategies. In addition to that it involves the internal capabilities and environment.
Moreover,it includes the analysis of using the Porter's Five Forces model and also
involves the application of the theories, models and concepts for a better
interpretation and understanding of the strategic directions of the organisation.
Part A: An internal and external analysis that provides a platform
for strategic decision making:
1. PESTLE and SWOT of the organisation and an evaluation of the
organisation’s resources and capabilities
Pestle analysis
Pestle Analysis is basically a concept or framework that is used by the
organisation in order to a gain a proper image of the industry environment. The term
PESTLE basically stands for Political, economic, social, technological, legal and
environmental factors. This framework allows the organisation to create a opinion of
the factors that might have a influence on the industry and business. In context to
Tesco, the PESTLE analysis helps the organisation to analyse its brand tactics. It
also helps the company to examine various external factors such as Political, social,
economic and technological factors (Bratton, J. and Boak, G., 2020).In addition to
that this framework helps the organisation to have a better understanding of the
dynamics of the market and also helps in improving the operations of the
organisation in a constant manner. The Tesco PESTEL analysis involves:
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 Political Factors: The political factors basically involves the tariffs, tax policy,
political stability, environmental regulations and trade restrictions. As per the
political factors, it helps in analysing the extent to which government can
impact the organisation or industry (Timeea-Alexandra and Doina, 2018). In
context to Tesco, the company has its operations in various countries and is
considered to be one of the largest retailers and focuses on following the rules
and regulations in order to ensure safety and compliance of the products. The
organisation operates in various countries as so it need to make changes in
their business operations according to the political requirements of all the
countries it operates in. The changes in the policies and taxation among the
various countries can easily affect the overall performance and revenue of the
organisation. In addition to this, the operations of tesco is also affected by
consequences of brexit as the decision of European union would impact upon
the trade and tariff restrictions and regulations. The impact of brexit would
result in increasing regulations for the purpose of imports as well as exports. Economic Factors: These factors basically involves the consumer spending,
exchange rates, globalisation, consumer spending, economic decline or
growth and cost of living or interest rates (Shaulska and et.al., 2021). In
context to Tesco, the organisation need to focus on the various economic
changes that constantly occurs in the organisation. It is also very important to
take into consideration these economic factors as it will affect the profit,
revenue,distribution and sales. The organisation should be well aware of the
policies related to taxation. In addition to that the organisation need to keep in
mind the prices of its products. In context to Tesco, the organisation's
operations are affected due to change in consumer's tastes and preferences
and also due to impact of various cultural factors. In order for the company to
work smoothly it is important to develop products and services keeping in
mind the trends in societal influence and changing culture and also to provide
a variety of products and services that will help the consumer to make
changes. Social Factors: The social factors basically includes the factors such as
health, safety, cultural norms, population growth rates, expectations, age
distribution etc. All these factors plays a very important role in organisations
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as it helps in better strategy planning and marketing analytics. In context to
social factors , the organisation has attracted large number of customers with
promotion of organic products in order to increase the customer satisfaction.
The organisation truly believes in local hiring and also providing benefits to
the society and thus creating employment opportunities for various
individuals. For instance, the preferences of consumers are inclined towards
quality and fresh food as people are growing health conscious individuals.
This would help in increasing sales of the company as consumers seek
products of a renowned brand known for quality. Technological Factors : These factors basically involves the government or
institutional research, rate of technological change and evolution of the
infrastructure. The technological trends are changing at the faster pace and it
is very important for the organisation to stay updated with the latest
technology. In context to Tesco, the organisation has adopted various
advanced technologies that basically involves the promotion through social
media and online shopping (Wills, 2020). . In addition to that, the organisation
has adapted various online shopping trends and provided services of home
delivery. Beside this, the company has been able to take advantage of
automation which has enabled the organisation to attract large customer base
and generate high revenues. The company has adopted high tech software
helping in automating services and reducing manual efforts of employees
while saving time and ensuring accuracy at the same time. Legal Factors: It basically involves the changes to legislation that impact or
influences the taxation, quotas, access to materials, impacting employment
etc. These basically involves the internal and external sides. In context to
Tesco, the changes in the policies of government majorly have a major impact
on the company. For a organisation to perform its operations smoothly it is
important to follow the international and local market laws. In context to
Tesco, the organisation was sued because of unequal pay among the male
and female employees of the organisation.
 Environmental Factors: It basically involves the factors such as parasites,
temperature, sound, food, pollutants and population density. In context to
Tesco, the organisation has taken various initiatives for the purpose to create
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a sustainable society and also focusing on improving the environment. In
addition to that, the organisation has taken various initiatives and measures
to reduce and remove the non-recyclable plastic and also focusing to explore
new opportunities. In the past years the organisation has changes around 800
products and are focusing on the recyclable process.
It has been concluded after performing the pestle analysis that TESCO has great
influence of environmental factors on its functioning which have direct or indirect impact on
its overall performance. The politician restraints and worsening situations of Brexit could be
dealt by consolidating the supply chain management of the company to reduce the threat of
growing restrictions on trade. The company stand tough in the market due to its
implementation of high and modern techniques in the production processes. The legal issues
faced by company could be overcome by improving its wages structure ensuring fair
treatment irrespective of gender. Employees should be paid according to their competence
and potential and should not be discriminated on gender basis.
VRIO Analysis
In Context to Tesco, the organisation uses this framework for the purpose to look into
the internal resources. The analysis also helps in identifying the resources which helps in
identifying the resources which needed improvement for the purpose to achieve a competitive
advantage. In context to Tesco, the valuable resources involves financial resources.
Employees, local food products and patents. In context to Tesco the rare resources involves
local food products, financial resources etc. The imitable involves employees, financial
resources and local food products. In context to organised, the resources involves financial
resources, patents and distribution.
Swot analysis
It is a strategic business framework which is used by organisations to
evaluate internal strengths and weaknesses as well as external opportunities and
threats (Kapassa, Touloupou and Themistocleous, 2021). Swot analysis helps an
organisation to formulate effective strategies through gaining understanding
regarding their current position in the market. The identification of swot factors in
context to tesco is stated below.
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Strengths Renowned brand in the market: Tesco has been successfully maintaining
its sustenance in the market from a very long time. It is one of the most
remarkable brand which has grabbed worldwide attention of audience and
achieved high profitability margins (Leiblein, Reuer and Zenger, 2018)
 High market share: The company has its influence over 25 percent share in
the market which indicates huge availability of its goods and services to
consumers. The organisation carry its operations 2318 stores approximately
which denotes high revenue generation of the company.
Weaknesses Issues regarding financial decisions: The company face barriers in its
progress due to their credit card liabilities and huge amount of debts, which
denotes shortcomings in their financial strategies.
 Low cost strategies: Tesco implements the strategy of low cost to attract
more consumers towards its goods and services (Kumar, Dabas and Hooda,
2020). The company has to make compromise through reducing their prices
in order to increase their customer share.
Opportunities Expansion of operations: The company has expanded its magnitude of
operations through development of new offline store. It has recently opened
Jacks, which serves as an excellent opportunity in the growth and progress of
the organisation. Due to its high popularity and goodwill, consumers are tend
to readily purchase from any store of Tesco.
 Fostering online market: The expansion of online market is a favourable
factor in the remarkable growth of businesses nowadays. During lock-down,
the company has provided home delivery services which were widely
appreciated by their consumers. The indulgence of audience into online
marketing is encouraging businesses to foster their online market. The
expansion of online purchasing will immensely increase the revenues and
profitability of the company.
Threats
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 Competitive Rivalry: The significant emergence of globalisation has lead to
growth and development of various business entities. The market is
constantly expanding due to establishment of new business ventures which
increase the availability of alternatives to potential buyers (Sakolnakorn and
et.al., 2020). Tesco face tough competition from popular companies like
Morrisons and Sainsbury's which affect its earnings. Due to the availability of
various substitutes, consumers have wide range of choices and they are tend
to shift their preferences when prices gets higher.
 Uncertainties in external environment: External environment in which
businesses operate are full of uncertain changes and factors which cannot be
ascertained. A business is influenced by various factors as discussed above
in pestle analysis. These external environmental factors influence the
operational activities of the company. The threat of uncertainties affect the
formulation and development of strategic planning as the formation of plans
are conducted keeping in mind these uncertainties. Natural disasters or major
changes in government policies and economic factors could critically impact
upon the performance of the organisation.
2. Competitive environment analysis using Porter’s Five Forces model
Porter's five forces model is a business framework which helps organisations to
evaluate their competitiveness in the market. It aims to identify obstacles and
ascertain possible factors that are reducing the scope of expansion and progress of
a company. The model covers the following factors which decides the viability of a
company. Threat of new entrants (low): The emergence of new business ventures are
tend to influence the pricing strategies of existing retailers. The established
brands have to rethink their pricing decisions because new brands usually
start their ventures with lower prices. In context to Tesco, the extent of this
threat is low as the retail brand is maintaining its sustenance in the market
from a long time (Beynon-Davies, 2021). The standards and reputation that
the company maintain is very difficult to compete with. The organisation's
loyal customers are not likely to shift their preferences to newly emerging
business ventures.
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 Competitive rivalry (high): The level of competition among retailers are
increasing day by day with growing significance of globalisation. The factor of
competitive rivalry affect the strategical decisions and policies of firms. With
increasing emergence of companies, the availability of options are increasing
to the prospective buyers (Godina, O.V. and et.al., 2018). In context to Tesco,
the company face major competition form renowned firms like Morrisons and
Sainsbury's. These brands have high market share and are well established
brands existing from a long time in the industry. Threat of substitute products (high): Due to the extent of competitive
rivalry, the availability of substitutes is major in the market. The varieties of
options existing makes it easy for consumers to switch their preferences if the
products are expensive. In context to Tesco, the products offered by the
company are embedded with the availability of substitutes which increase the
extent of competition for the organisation (Şafak, 2021). The threat of
substitute products is high for the brand as there are numerous brands
dealing in supermarket industries, which provides consumers with amount of
huge alternatives. Bargaining power of suppliers (low): Business entities procure raw
materials from suppliers which determine the amount of costs incurred in the
process of production. Prospective and potential suppliers are tend to
negotiate to charge higher for the inputs that they provide. The bargaining
power of suppliers increase the manufacturing cost and reduce the amount of
profitability margins. In context to Tesco, this threat is quite low due to the
high availability of suppliers (Capriello, A., 2018). The company acquire their
inputs from numerous suppliers which makes accessibility of raw materials
convenient for the organisation.
 Bargaining power of consumers (moderate): Consumers are becoming
more aware regarding the consumption of products both in terms of quality
and quantity. A rational consumer always prefer the product which tends to
provide highest utility to them and is affordable to the buyer. Due to the vast
availability of alternatives, consumers are likely to avail goods and services
which are lower in prices (Hamilton, 2018). In context to Tesco, the risk
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associated with this factor is moderate as the company provide audience with
best quality and maintains high brand image in the market. Although,
consumers demand maximum utility at lower prices but Tesco maintains huge
base of loyal customers who continues to avail their products and services.
The evaluation of porter's five forces examine the competitive edge of the company
through determining major factors affecting its position. It has been analysed that the threat
of new entrants is not likely to affect the performance of Tesco which is an internal strength
of the organisation and can be used against its weaknesses. The high competitive rivalry and
large availability of substitutes implied the organisation to bring customisation in the
products and services of the company. The moderate power of suppliers and consumers
implies favourable position of the company but to consolidate it the company must focus on
formulating discounting strategies to induce its customer base and adopt mass production to
lowering the supplier power.
3. Identification and justification of the organisation’s existing and/or potential
competitive advantage
The factor of competitive advantage enables a company to differentiate it form
other brands and make it look stand out in a market full of potential rivals. To
determine and effectively establish competitive advantage, an organisation needs to
evaluate constructive strategies which induce consumers to avail its goods and
services (Zunnunova, U.G., 2019). The relevant competitive advantages identified in
context to tesco are mentioned below: Effective pricing strategies: The company has benefited from the adoption
of low cost strategy in their production process. It enables the company to
offer reasonable and affordable prices to the audience due to which it
maintains high base of loyal consumers. People are tend to shop from tesco
due to its worldwide recognition and suitable prices. Providing consumers with best quality: Tesco has became the leading
supermarket brand and the quality that it offers is one of the most relevant
reasons for its global popularity. Effective use of IT advancements: The firm make efficient use of internet
and technology to manage routine activities of the enterprise. Tesco use
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software for the purpose of inventory management, process control and to
perform other important functions (Lynch, 2018). The company also advertise
their products frequently through effective techniques of digital marketing.
 Constructive supply chain management: Tesco has established its course
of operations properly in the business environment. The company has
developed strong relations with associative supply chain partners which
ensures its readily availability of goods and services at all times. The
company operates in numerous stores and offer wide range of products
through maintaining efficiency in its supply chain management.
4. Valid strategies and tactical objectives to achieve overall strategic
objectives
The process of Strategic planning determine the actions and policies which
are implemented to attain long-term goals and objectives of the company. Tactical
planning relates to the process of devising short-term plans and targets to
accomplish long term objectives stated in the strategical planning. In context to
tesco, the company conducts market research frequently to analyse its position and
the scope for progress (Pasch, 2019). The company conducts and performs
application analysis of various strategic tools like Swot, Pestle, Porter's five forces,
ansoff matrix and other such evaluative models. In addition to this, the company
adopts various methods of promotion and techniques of digital marketing in order to
increase its influence over the market.
Part B: On the basis of this analysis critically evaluate and justify
strategic options for the organisation:
1. Critical evaluation of the different types of strategic directions available to
the organisation
Ansoff matrix
It is a strategic tool also known as Product-Market Expansion Grid used by
the marketers of a company to study and design the strategies for the growth of the
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business. This matrix is combined with various alternatives plan of action which help
the organization to analyse the risk associated with each strategy(Dawes, 2018). For
this analysis, Tesco has been considered which is multinational groceries and
general merchandise retailer in England. This matrix helps in analysing its internal
strength and weaknesses and its external business environment to research growth
opportunities accordingly that has been depicted below: Market penetration: This is the first quadrant of Ansoff matrix that provides
least risk among the four growth option. Here market penetration is carried out
by Tesco where it promotes its products in the existing market. It adopts the
strategy to offer discounts to its customers or simply lowering the prices of the
products. This strategy help the company to increase its market share, sales
and revenues. Market development: This is the second quadrant where an existing product
is introduced in the new market. Whenever Tesco launches its existing
products in new market then it develops its market in number of ways. The
primary way is to create attractive packaging of its products and expand
geographically in new market. It can also advertises its product with the help
of celebrities or sportsmen to create a brand reputation and loyalty among
customers. Product development: This area is slightly more risky because a new
product is introduced in an existing market. For this, Tesco develops good
number of its own label products to sell in existing markets. It also carries an
extensive research and development to create new products that offer
especial durability(Khajezadeh and et. al., 2019). This allow the company to
take advantage of grater sales and revenues associated with new products.
 Diversification: This is the riskiest among the four option as a new product is
introduced in an entirely new market. For this, Tesco has diversified its
operations into different markets such as food brand, selling books,
electronics, financial services and clothing. This strategy help the company to
mitigate the risk of loss in one division also helpful in generating revenues by
selling different product lines to the customers.
BCG matrix
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BCG matrix also known as growth share matrix is used to analyse the growth of the
products in business portfolio and its absolute market share. It breaks down the
product into four categorise known as stars, cash cows, question mark and dogs. For
this analysis, Tesco has been considered that has large portfolio of its products
which help in examining the profitability, growth or future expectation of different
business which are as below: Stars: The products of a company which have high growth and high market
share are considered as Stars. They are the leaders of a market and
consume large amount of cash and get high return on their investments(Chiu,
and Lin, 2019). Tesco has many products which can be identified as stars as
they provide sufficient income have more chances to grow. For instance,
Tesco bank has expanded its market presence by offering its customers
current account facility with other services such as insurance and loans. This
banking industry has high growth potential that lead to high market share. Cash cows: These are the products which have growth but are high market
share and get significantly return on investment in matured market. These
produce more cash because of high market share. For Tesco, the fresh meat
section is cash cows as these products are high in demand across various
stores. Thus, this fresh market is already established therefore need a little
investments for further development and increase profitability. Question mark: These have high growth potential but a low market share
that makes their future expectations questionable. Since they have high
growth rate so they can become cash cows or stars by investing more or
adopting right strategies. Tesco has some products that have low potential to
be operated such as Tesco lard that is considered as Question mark because
of low demand from the customers. So this would be considered by the
company whether it is feasible to continue or have to dissolve it.
 Dogs: These are the products that have low growth and low market share.
They don't generate cash for the company and also not required for
investment. In context of Tesco, the mobile segment of a company has shown
an uncertain future because of high competition in the market and slow
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growth expectation (Torquati and et. al., 2018). So for Tesco mobile business
is considered as dog as it required a huge investment but low output.
2. Justification and recommendation of the most appropriate growth platform/s
and strategies
From the above analysis in Ansoff model, Tesco plc. should adopt market
penetration strategy because there is least risk in adopting this strategy. The
company can attract the customers towards its products by providing number of
discount offers or low price products. This would help the company in generating
revenues, increase its sales and market share as well. When company introduces
its existing products in existing market so the customer who are unaware about the
product would also attract towards the products(Yaqoob and Omer, 2021). By
knowing the discount price and they would show their interest in buying respective
product. The company should make competitive pricing strategies and ad campaigns
which would help in implementing market penetration strategies. So, this would help
the company in finding new opportunities for its business and comes up with new
offer to increase its sales and result in generating revenues of a company.
From the analysis of BCG matrix, For Tesco, Star is considered as a good platform
to generate its revenue because of those products which have high potential growth
and high market share. So the higher investment make the company leader of the
respective market and it would also provide higher return on investment to the
company(Ha, Yu and Hwang, 2021). The tesco's premium quality products attract
the customers who are willing to pay more for quality product or brand. This would
provide benefits to the company in getting high profitability and enhance market
share growth.
So Tesco should make more investment in their premium quality product instead of
Tesco lard that has become questionable. It should dissolve this section as it is not
creating demand from the customers and make or plan strong strategy to invest in
other division of its business. Tesco can also make its cash cow products to stars by
investing or making some improvement in the products. This would lead to the
growth of the product with high market share.
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3. Evaluate ways and means by which the chosen strategy/ies can be
monitored in order to ensure success
An evaluation of an strategy is a framework where strategies are monitored
effectively at a high level by setting up benchmark and prove them feedback after
analysing or understanding the project. This set framework enables to correct and
accurate reporting for the project. It also provide a basis for continuous improvement
and mechanism to evaluate success and challenges faced by the program(Jetter,
Eimecke and Rese,2018). So, here are some aspects of monitoring strategies which
are depicted below:
Key performance indicators: These are the indicators of assessing progress
towards the specific objective. This helps in determining the achievements of
company as compared to those of other business within the same sector. In context
to Tesco, it follows six KPIs which are as below:
 Sales: Since the customers are buying more products so it helps in
increasing their sale volume that lead them to success.
 Profits: They are providing better services to their customers by supplying
them premium quality products and more offers which results in increasing
profits of the company.
 Operating cash flow: As the company is rendering their best services to their
customers that enhance their profits by which they are allowed to reinvest to
run their business uninterruptedly.
 Customer recommendation: The company give more importance to their
customers by providing them their products according to their wishes.
 Colleagues recommendation: The colleagues commitments, passions and
energy has remained focus on serving shoppers that help in building good
relationship with them.
 Trusted partnership: the company have good relationship with their
suppliers which help the company in providing better or uninterrupted services
to the customers.
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Benchmark: Tesco has set its benchmark in providing organic food to their
customer, environmental issues such as reducing of green house gases, and
providing alternative protein products.
Analysis and feedback: Tesco analyse that the framework set by it and evaluate
the performance or success achieved by it. They analysis actual performance with
baseline or agreed benchmark. If they find deviations then they again reframe the
strategies to achieve the desired results. This review looks at the past performance
and compared it to the standard performance to improve the future situation of the
company.
5.0 Conclusions
As per the view of respective report, it has been concluded that the concept of
strategical planning is a broad term and cover various aspects which defines the
growth and development of a business entity. The examination of business tools like
Swot and Pestle analysis helps an organisation in devising potential strategies by
analysing numerous factors and trends prevailing in the market. It has been
concluded that use of models like ansoff and BCG matrix helps organisations in
establishment of growth plans. Strategical planning and management is a process
which includes evaluation of multiple determinants and aspects. It involves the
examination of plans that how can a business survive and earn profits in a market
where potential traders are existing and emerging. It covers numerous justifications
and explanations regarding any plan or policy that is being implemented in the
course of business operations. It has been concluded that proper execution of
strategic management determines the viability of an organisation.
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