Strategic Management and Planning for TESCO

Strategic Planning
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Table of Content
Introduction..........................................................................................................................2
Definition of strategic management......................................................................................2
A critical assessment of the process used by organisations to determine their strategy........3
A critical evaluation of the impact of internal and external environmental variation on
organisational strategy..........................................................................................................4
A review of an organisation’s strategic plan (Business Plan), providing an action plan for
the organisation on the basis of a change.............................................................................8
Conclusion............................................................................................................................... 9
References................................................................................................................................ 9
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INTRODUCTION
Strategic planning is that process through which organisational leaders determine their
vision for future as well as identify their objectives and goals for an organisation. The
process also includes establishing the sequence in which those goals should fall so that an
organisation is enabled to reach its stated vision. When there is a strategic plan then it will
help in terms of tracking the goal into positive manner(Bonsu, S., 2019). In the present
report, TESCO is taken into consideration. TESCO is a general British merchandise retailer
company and it is headquartered in Welwyn Garden City, England(TESCO company
profile). The present report covers analysis about strategic management and also about
process used by TESCO organisation to determine their strategy. In addition to this, report
will cover discussion about impact of internal and external environmental variation on
organisational strategy. Moreover, the report will cover analysis about organisation’s
strategic plan that gives the action plan for the organisation on the basis of change in internal
and external environment.
MAIN BODY
Strategic management
Strategic management is the continuous monitoring, planning, assessment and
analysis of all necessities an organisation is required to meet out the goals and objectives.
When changes have occurred in the business environment then it is required that an
organisation constantly assess the strategies for success. The process of strategic
management supports an organisation to take stock of their present situation, deploy them,
chalk out strategies and analyse about the effectiveness of implemented management
strategies. It is that type of management who have financial and non-financial benefits. It is a
process which supports an organisation and its leadership to think and plan for its future
existence. Strategic management basically sets direction for an organisation and its
employees.
Effective strategic management continuously monitors, plans and tests an
organisation’s activities which results into greater operational efficiency, profitability and
market share(Witcher, B. J., 2019). The concept of strategic management is basically based
on vision and mission of an organisation and where they want to be in their future life and
the values also guide their actions. Strategic planning basically involves activities, strategic
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decisions and allocation of resources which is required in terms of achieving goals. The
process always require a commitment to strategic planning and a subset of business
management that involves an organisation’s ability to set both long-term and short-term
goals.
Importance of strategic management is defined into the following manner:
 Shows right direction to an organisation: Strategic management helps in terms of
giving direction to an organisation. In terms of TESCO organisation it gives proper
direction towards their goals and objectives.
 Support companies in terms of remaining proactive: Strategic management is the
way through which companies remain themselves into proactive nature rather than
reactive. In terms of TESCO organisation they make their strategies in such a manner
that they show their proactive nature into the international market by their unique
services and concept.
 Support in terms of decision making: Strategic management is the way through
which proper decisions can be taken because it gives a proper plan in terms of their
next step. In terms of TESCO organisation, they make their strategies through
strategic management and decision-making is also dependent on it.
 Help in terms of business development and success: Strategic management is the
way through which business can be developed into positive manner(Doyle and
Brady., 2018). In terms of TESCO company, they have grown their business through
proper planning and monitoring the market into appropriate manner. TESCO has also
developed their business and achieve success through strategic planning.
 Guides in terms of facing challenges in future: Strategic planning is that planning
which basically predicts forthcoming challenges and difficulties. It is the way through
which planning can be done in advance for future problems. In terms of TESCO
company, they always ready to make their customers happy and give satisfied
services through their unique services and concepts.
In order to determine the strategy critically evaluate the process used by organisation
The process which is used by TESCO company is strategic planning process which
ensures an organisation that it will provide good profit results and also be able to maintain its
output. It also gives an idea to the that where they will be in future after some years. It is a
systematic process which talks about the number of steps which identify about the current
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