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Strategy and the Global Competitive Environment Assignment

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Added on  2020-10-04

Strategy and the Global Competitive Environment Assignment

   Added on 2020-10-04

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Strategy and the globalcompetitive environment
Strategy and the Global Competitive Environment Assignment_1
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................2Identification of possible strategies and marketing plan.............................................................2TASK 2...........................................................................................................................................7Evaluation of different possible strategies..................................................................................7RECOMMENDATION.................................................................................................................10REFERENCES..............................................................................................................................12
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EXECUTIVE SUMMARYIn the modern business environment, it is important for the organisations to have aperfect sustainability strategy so as to deal with the cut throat competition. The globalisation hashelped companies to expand their business to new markets as well as gaining multiple profit.There are several threats that have also came up for example sustaining in the competition,managing corporate governance and corporate social responsibilities so as they can have goodimage I the market other than having good market share. Multinational companies have to facemany kinds of environment which again depends on several factors. These internal and externalfactors shapes the business model as well as decide the success of the company. It is importantfor the firm to control these factors so as to ensure that they can survive in competitive marketplace.INTRODUCTIONAt present, businesses have become global as many companies are there that areoperating their business in several regions of the world. In the present working environment, ithas become important for companies to make effective business plans as well as marketingstrategies so and to ensure that there cannot be any kind of threat that is posed by this externalenvironment on the health of the business conducted by any firm. There are several factors thatshape the modern business environment. As the ways of doing traditional business has beencrushed by the effects of globalisation hence there are several new factors tat have came up.There are various business, corporate and marketing strategies that are made by the companies soas to tackle all negative effects of this environment. Environmental Factors such as technology, politics, economy, society, legal are affectingall business enterprise. Use of tools of marketing mix can be beneficial in defining the marketingstrategies. One the other hand by performing social activities company can get variousadvantages.Tesco is the British company which operates its business in all over the world. It isspecialised in the business of selling groceries, general merchandise and so on. In terms ofprofit, it is the third largest retailer in world (Killing, 2012). It have strengths of approx 40,000employees. This report highlights the ways in which company can make its business, corporateand marketing strategies powerful so that it fight with the environmental factors. It also1
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underlines the global challenges that is faced by the multinational companies and the ways theyare using so as to survive in the aggressive competitive environment.TASK 1Identification of possible strategies and marketing planIn the modern business environment, it is important for companies to make effectivebusiness as well as corporate strategies. There are several strategies that can be taken bycompany for its sustainable growth. Some of the possible business strategies are as follows:Cost leadership: Company wants to enhance its business by becoming one of the firmsthat sell organisational products at the best possible prices as compared to its competitors. Due toits vast scale of operations, it is easier for company to make this with the amount of resources ithas. It is used by company so as to gain competitive advantage in the present business. It isdriven by following factors like the size, scale and scope along with cumulative experience. Allthese factors are in favour of company so that it can apply all these in a better way (David,2011). It is different from price leadership. Tesco competes on price where they have low coststructure and management. It lowers down product in the market it is operating.Diversification: Company can possibly use the strategy of diversification. There are manybig multinational companies that are in the business of retailing. It is important for Tesco to havelarge variety of product range. It is helpful in attracting large number of customers as every onesdemand cannot be fulfilled with limited amount of products. Diversification includes both typesof products first are those which are old and innovated by new technology and second are thosewhich includes innovation from starting. Merger and acquisition: There are many kinds of mergers and acquisition that thiscompany can make so as to enter in the new market. One of the advantages of this company isthat this has product range that is required by every society. So, it is important for Tesco toexpand its business in new regions of the world. As it do not have knowledge about operating inthe new makers so merger can be a successful way of expanding its business. On the other handto control retail market in the other countries it can take use of acquisitions.Innovation in business model: Company has made many kinds of innovations in itsbusiness model like the structure of firm as well as ways in which it was doing business(Wheelen and Hunger, 2011). With its plan of expansion, M&A has come up in its business2
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