Strategy Evaluation for TK Maxx

STRATEGY EVALUATION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Background of Organisation........................................................................................................3
VRIO Framework........................................................................................................................5
PESTLE Framework....................................................................................................................5
Porter’s Five Forces Model.........................................................................................................7
Review of Organisation’s Strategy..............................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Strategy evaluation is very necessary task for each business or companies, because by
evaluating strategies a business can easily find out those ways which can run it’s all business
strategies on progressive path. Currently top-level management within most companies is putting
huge efforts for making its business strategies more effective and productive. Reason is,
currently those businesses or companies are gaining huge profit in their respective industry or
sector which has effective business strategies. On the other side, many companies are highly
investing also for making their business strategies more productive. This report mainly discusses
those strategies which strategy evaluation aspect of the TK Maxx. Basically, TK Maxx is a
popular retailer within the United Kingdom which is a subsidiary of the American TJX
companies. There are various frameworks also has been used below which can support deeply
understand strategy aspect of TK Maxx.
MAIN BODY
Background of Organisation
TK Maxx is a subsidiary of American TJX companies, headquartered in Massachusetts,
United States. The TK Maxx was founded 1994 by Bernard Cammarata (Davids and Van Belle,
2017). Currently TK Maxx has expanded its business operations in many countries, like; United
Kingdom, Ireland, Germany, Australia, Austria, Netherlands etc. It means, currently it has large
share within the international retail industry. Some major factors of TK Maxx have been
discussed below;
Mission
TK Maxx has the large customer base within the retail industry of the United Kingdom.
Mainly it offers fashionable & quality clothes, bags & purses, glasses & sunglasses etc. These
are major products of this company. Currently the main mission of the TK Maxx is to increase
market share with 10% in the UK’s retail industry. Most customers within various market
segments are really like to buy different products and services of TK Maxx, but it has provided
quality products and services on favourable prices.
Vision
In this dynamic and modern world, retail industry is growing day by day. In this situation,
top-level management is able to gain effective results in the market. The company properly

understands this thing that, competition within the industry also will be raised in the future.
That’s why company’s vision to implement change within its daily operations according to the
market demand. On the other side, existing management is continuously taking various steps
towards more and more improve its products and services, because customers mostly like those
companies which has well-improved services in the market. Upper management of TK Maxx has
successfully maintained excellent communication values with its different stakeholders, because
company can’t survive in the market without them within retail industry (Ukko and et.al., 2019).
Currently most stakeholders are very satisfied with TK Maxx policies and services.
SMART Objectives
Specific: The mission of company is completely specific, because by using achieving existing
mission, TK Maxx can lead retail industry of the United Kingdom.
Measurable: The company can easily measure its existing performance by using KPI (key
performance indicator) tool.
Achievable: This mission is completely achievable, because many other companies also have
taken various steps for achieving this mission.
Realistic: Existing mission of TK Maxx is fully realistic, because it can easily increase its market
share by 10% by putting some extra-ordinary efforts.
Time-Specific: Top-level management will be able to properly complete this mission on time by
using some specific time-management schedules.
Values
Top-level management of TK Maxx always tries to maintain heat to heart it’s all
stakeholders, like; customers, employees, suppliers, shareholders etc. This is the main reason
that, Company’s most stakeholders are very satisfied with it. On the other side, company always
believes in fulfilling CSR (corporate social responsibility). This factor of TK Maxx positively
influences its customers in the market.
There are two organisations can’t achieve the same objectives based on different values,
because an organisation always needs to set values on the basis of decided objectives.