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Strategy, Enterprise & Innovation Assignment

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Added on  2020-06-06

Strategy, Enterprise & Innovation Assignment

   Added on 2020-06-06

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STRATEGY, ENTERPRISEAND INNOVATION
Strategy, Enterprise & Innovation Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1SECTION 1......................................................................................................................................1a) Internal resources and capabilities of the organization...........................................................1b) Key drivers of change from external environment.................................................................2c) Impact of competitive forces having influence on entrepreneurial activities.........................4SECTION 2......................................................................................................................................5a) Strategic options that can be pursued by Tesco......................................................................5b) Justification of strategies based upon sustainability, acceptability and feasibility.................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
Strategy, Enterprise & Innovation Assignment_2
INTRODUCTIONStrategy and innovation plays an important role in expanding the business and take it tothe new heights. These are two important factors that helps the entity to sustain in the dynamicenvironment (Gawer and Cusumano, 2014). Tesco is one of the leading supermarket chainfunctioning in UK. The report makes comprehensive discussion on assessment of internalresources and capabilities of Tesco through VRIO model. The report further ponders on externalfactors influencing the functioning of Tesco with the help of PESTLE analysis. In the end, twostrategies will be suggested and justified, adoption of which can help the business to grow andexpand.SECTION 1a) Internal resources and capabilities of the organizationTesco is one the largest supermarket chain which is known for selling different consumerproducts in UK. The company opts for low price strategy where products are offered to theconsumer at least possible prices which attract large number of customers towards it. The mainobjective of the entity is to increase its customer base rather than maximizing its profits. Theinternal resources that are used by Tesco helps has helped the company to increase its marketshare (Johnson and et.al., 2013). The analysis of internal resources and capabilities can beanalysed with the help of VRIO model. A brief discussion on applicability of VRIO model onTesco has been provided below:VRIO ANALYSISValuableThe products offered by Tesco are valuable as these are basicnecessity products that are required by every individual. Further, italso focuses on providing high quality products to its customers.RareThe products are not rare as these essentials are available at everysupermarket and store. However, the price range offered by Tesco israre and hence is able to attract large number of customers towards itImitateThe products offered are imitable and are available at every supermarket store. Hence, there is nothing new provided by Tesco to itscustomers. OrganizedTesco has various departments in the organization. Top managementis able to manage everything further utilizing all the resources1
Strategy, Enterprise & Innovation Assignment_3

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