Strategy Evaluation

Strategy Evaluation
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Table of Contents
INTRODUCTION...........................................................................................................................3
1. Evaluate the value of clear purpose, mission, vision and objectives in setting the strategic
direction of organisation. ...........................................................................................................3
Value of Objective......................................................................................................................5
2. VRIO framework of Tesco......................................................................................................5
3. Use PESTLE framework to analyse the external environment of the business. ....................6
5. The Porter’s Five Forces of Tesco..........................................................................................8
4. Based on the above analysis, review the organisation's strategy............................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Strategic evaluation is the process of analysing the strategic plan how well company has
achieved its goal in the strategy. It is considered as analysis tool which is the part of strategic
analysis tool for the organisation. It consist f two segments that is 'Track and Plan' (Alharbi,
Atkins and Stanier, 2017). Tesco is the British multinational retailing company of UK. It was
founded in 1919 by Jack Cohen. Tesco is now operating in more than 11 countries in all over the
world. There are about 4,50,000 number of employees who are working in the company. This
report covers value of clear purpose, vision, mission and objectives of the company. Then it
access the competitive advantage by using VRIO framework. It covers PESTLE analysis of the
company. Also , there is porter's five forces model and one organisational strategy reviews is
used based on the analysis.
1. Evaluate the value of clear purpose, mission, vision and objectives in setting the strategic
direction of organisation.
Tesco is the largest retailing supermarket in the market of UK. It was founded in 1919 by
Jack Cohen. Vision statement is the statement which is set by the organisation of what is to
become and achieve in future. Tesco company enjoys long term success and they are focused
business. So there vision is constant but its business practises and strategies are are changing
according to the dynamic environment. Tesco vision is to be most highly valued among its
customers, suppliers, shareholders, colleagues and the market in which it operates. Mission
outlines company's goals, strategy for reach on those goals. The mission and purpose of the
Tesco company is “ Company make what is better , together” Like mission, value is also
important for the every company because without values business cannot achieve competitive
advantage in the market (Alnazer, Alnuaimi and Alzoubi, 2017). The values of Tesco company
are company treat the customers as they want to be treated. They use their scale of goods and
services, no on tries harder for customers, company would lead in reducing food waste globally,
company support local communities. There is the importance of purpose, mission, vision and
objectives of the company. These are discussed below:
Value of Mission statement
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As mission of the company is “ Company makes what matters better , together”. So to
work on this mission leaders of the company should tells the current mission to the employees
working in his team. Mission statement is made for the employees and managers of the
organisation. So that they work according the standards maintained. Strategic planning involves
changing of mission statements according to the changing direction of the organisation (French
and Gordon, 2019). Mission highlights the benefits of the change and minimise the defeciences
helps the employees or workers. Another importance of the mission statement is that it describes
the company's mission for the present and for the future both. So, if company wants to do change
in the organisation then it may revise the mission statement.
Value of vision statement
Vision is like mission statement, they helps the company to identify organisational
purpose. The vision of Tesco is that it needs to be most high valued in the market and serve its
customers with high quality. Tesco visions consist of five elements that is a growing business
full of opportunities, use of modern, innovative and ideas. Aspiring and earning trust of the
customers and communities. Vision statement is important because it gives directions to the
employees and provide them inspiration. Strategic plans require marketing strategy which
includes vision of the company and helps the customers to work with the organisation. It is the
view of future with hope and positive outlook (Greitemann and et.al., 2015). For example- vision
helps the Tesco company to describe its inspirational and long term plans which they need to
accomplish, how and who they can help and how this can be achieved. Visions helps the
company in giving description of what they are working towards.
Value of purpose
The main purpose of the Tesco company is “Serving shoppers a little better every day”.
Then company focuses on the serving customers better. The importance of purpose in any
organisation is that it understand customers, acting responsibly with communities and suppliers.
The purpose is most important for any company because it is the goal which need to be achieved
by the company. This helps the company in engaging the employees in the activities performed
in their (Walter and et.al., 2018). Then it automatically results in increasing employees
productivity and potential, at last it leads to increase in profitability of the company.
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