Importance of Strategic Management: A Case Study of Tesco plc

Strategic
Management
1

Table of Contents
Introduction .............................................................................................................................3
TASK .........................................................................................................................................3
Conclusion ............................................................................................................................... 8
References ............................................................................................................................... 9
2

Introduction
strategic management is related to the planning and organizing all the necessity of a business
to achieve the goals and objectives of the organization. The business environment are
completely changed sue to the dynamic behavior of customers so strategic planning is
important to gain the competitive advantage from the market. This report states various
definitions of strategic planning to critically analyses the importance of strategic management
(Makadok, R., Burton, R. and Barney, J., 2018). It emphasizes explanation of various internal and
external factors which impacts the organization from both inside and outside the organization
the organization which is chosen here to describe this report is Tesco plc. TESCO is a
multinational public limited company of United Kingdom provide retailing service of
groceries and general merchandise. It is founded on 1919, 102 years ago by Jack Cohen in
Hackney, London, England, UK. It is a ninth largest retailing company of UK and its Head
Quarters is in Welwyn Garden city, Hertfordshire, England, UK.
TASK
Definition of strategic management
Strategic management is the management of organizational resources to achieve the goals
and objectives of the organization. Under this management the managers og organizational
analyses various aspects such as strength weakness, competitive advantage and business
environment to achieve the objectives of the organization. Various strategies related to the
business of organization are developed in this management.
A critical assessment of the process used by organizations to determine their strategy
The management of Tesco is applied SWOT analyses on their organization to analyse
the condition of company on the basis of strength, weakness, opportunity and threats.
There are many strengths of company which helps the company to successfully applied
various strategies (Priem, 2018). Tesco has also some weaknesses which they have to
minimise to protect themselves from any loss. There are many opportunities present in the
market which enables the organisation to established their business in different countries.
Company applied Pestle analyses on their management. It analyse various impacts of
various factors of PESTLE analyses on business operations of Tesco.
A critical evaluation of the impact of internal and external environmental variation on
organisational strategy
Swot analyses of Tesco
3