Strategic Management Planning Contents

Strategic management
planning

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Environmental analysis..........................................................................................................3
Corporate and Marketing objectives......................................................................................4
Marketing Strategy selection..................................................................................................5
Market targeting and positioning............................................................................................7
7 P’s........................................................................................................................................8
Implementation, control and evaluation.................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
Books and Journals...............................................................................................................10

INTRODUCTION
Strategic planning is one of the important processes of organisation as it helps to formulate
strategy find directions that help in making decisions by allocating the resources for the benefit
of an organisation. It is important to formulate the strategy in an effective manner as well as
implement it carefully for the success of the business (Serova, 2019). There are a number of
challenges that the business organisations are facing strategic planning helps to overcome those
challenges and achieve the goals and objectives. In this report TESCO is taken into
consideration. It is British multinational groceries and general merchandise retailer
headquartered in London. There is discussion related to formulation of strategic plan for TESCO.
Environmental analysis is done to set effective objectives. Various strategies are evaluated to
select the best among them. STP approach is used as well as 7P’s of marketing are discussed in
this report.
MAIN BODY
Every organization's long-term action plan for achieving a set of goals or objectives is
known as business strategy. In other words, a business plan is a document that outlines the path a
company will follow and the steps it will take to achieve its objectives (Galli, 2020). It is seen
that due to covid-19 the business is facing loss as the country is facing the problem of lock down
and everything has stopped. So it is important to formulate strategies post lock down that help
the company to run their business effectively and earn profits. Steps that are involved in strategic
planning are discussed below:
Environmental analysis
It is vital to know about all the environmental factors that impact the position of an
organisation. To know about the macroeconomic factors that have impact on the functioning of
Tesco are discussed below
Political Factors: It is vital to note that Tesco has its operation around the globe and the
company has to take care of all the policies that are formulated (Musi, Mukulu and Oloko, 2018).
At this time there is financial instability going on in the world so Tesco is trying their best to
manage their business operations.