Strategy Evaluation

Strategy Evaluation

Table of Contents
INTRODUCTION...........................................................................................................................1
Vision, mission, values and objectives...................................................................................1
Assessment of competitive advantage via application of VRIO framework.........................3
Analysis of external environment via usage of PESTLE framework.....................................4
Application of Porter’s Five Forces Model............................................................................5
Review of organisational strategy..........................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Strategy can be defined as the competitive move adopted by a firm to sustain in market in the
long run and attain an edge over the market players within same industry. The companies keep
on screening the internal and external environment in order to identify discrepancies, if any
(Mittal and Dhar, 2015). Such evaluation provides base to the entity to alter the present business
strategy to ensure its alignment with the market situations. Thus, strategy evaluation via review
is one of the basic activities that a company is constantly engaged in. The present report is based
on Tesco, the leading retailer of UK. It offers wide range of products like clothing, toys, general
merchandise, kitchen ware, home ware etc. The report seeks to carry out internal as well as
external screening of the market. Further, it includes the review of current business strategy and
improvement in the same, if needed.
Vision, mission, values and objectives
Mission
Part of the strategic
component
Description
How does the
company define itself
Tesco is regarded to the 3rd biggest retail corporation across the
globe when measures in terms of gross revenues.
In what business do
the company
operate?
Tesco is engaged in delivery of clothes, electronic items, furniture,
toys, petrol, software, telecoms, internet services, books, etc. to
customers across the globe (Millstein, Odoner and Sharma, 2018).
What does the
business serve? (Who
are their customers?
What are their
markets?)
Tesco provides its services and products to customers who are
cautious of the quality of offerings rendered to them. It currently
operates in 14 countries across the globe. It has a diverse product
portfolio which assists it boosting the financial performance of the
company.
Why do our Over the course of time, Tesco has been providing its customers
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customers choose our
products of services?
with high quality products at reasonable prices. This helps in
capturing the attention of large base of audience and maintaining a
strong relation with them for their long term retention (Lockyer,
2018).
Vision
Part of the strategic
component
Description
Who/what does the
organization want to
be?
Tesco intends to become the leader of retail market across the globe
(Naidoo and Gasparatos, 2018).
What the
organization core
business/activity will
be?
The core business of Tesco will be to become a food retailer that
can cater to the needs and demands of customers across the globe.
Who will be the
customers/users of
the services/products
delivered by the
organization?
The users of the products or services delivered by the organisation
will be the price and quality sensitive population of the world.
Why our customers
will choose our
products and
services?
The customers will choose the offerings of Tesco looking upon the
quality maintained by the firm along with the prices at which the
products are offered. Further, the customers also prefer the products
of this company as Tesco takes the initiative to adopt the latest
technologies into the premises for product development and
incorporation of innovation within the corporate culture (FORT,
2019).
What do we want to
communicate to our
The internal and external stakeholders will be communicated about
the efforts taken up by Tesco to become a sustainable retailer by
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