Strategic Management: Strategy Evaluation

BSc (Hons) Business Management Top up
BMP6002
Strategic Management
Strategy Evaluation
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Table of Contents
Introduction................................................................................................................................3
MAIN BODY ................................................................................................................................3
A critical evaluation of the value of clear purpose, vision, mission and objectives in setting
the strategic direction of organizations using examples from selected organization..........3
Assess the competitive advantage of the selected company, using the VRIO framework ..3
Using PESTLE framework analyzing the external environment of the selected business.....5
Application of the Porter’s Five Forces Model for the selected organization ......................6
A review of the selected organization's strategy ................................................................7
Conclusion..................................................................................................................................7
References..................................................................................................................................9
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Introduction
Strategic management is considered as one ongoing process regarding monitoring,
planning, analysing of all necessities in order to meet the tasks of the firm. It is used to
denote a kind of the branch regarding management that can be focused alongside the
development regarding strategic vision. Changes within the business environment also needs
firm to regularly approach their strategies regarding success. The process of the strategic
management aids firms to take stock of their present situation. It has five basic strategies as
well as differ within implementation that relied on the surrounding environment. This
management applies both on mobile platforms as well as on premise platforms. Present
Report focuses on Tesco which is known as the third largest retailer and also measured
through gross Revenue (Tesco,2020). Report focuses on analysis of value, aims as well as
objectives of Tesco, VRIO framework, Pestle analysis for evaluates the external environment
(Del Marmo and Feys, 2015). Porter’s Five Forces and Modern organization’s strategy.
MAIN BODY
A critical evaluation of the value of clear purpose, vision, mission and objectives in setting
the strategic direction of organizations using examples from selected organization
The purpose of the TESCO is being built with a easy mission, which is to be the
challenger for the target retail customers, which helps them to enjoy with better quality of
life and and easier way of living. Customer want large goods at the high value, which they
can easily buy from the company and it is the job of the company to give this in the right
manner . Its core purpose it serving customers and shoppers a little better every day, which
enhances the value for the company. Its main purpose is to understand the customers better.
Be the first to meet the needs and wants of the customers, and act responsible for the
communities and to adopt to means of production and manufacturing of goods and services
which are in regards with the protection of environment.
The vision of the company is to be highly valued business, by the potential customer
that the company is serving. Its vision is to stay constant while the strategies of business
continuously adapt the changing world.
The mission of the company is to make what matters better, together. It mission is to
let the customers enjoy better attribute of life and the easier way of living standards . Its
mission is to serve the customers with goods and services which makes it easier to have
more healthily by sourcing the great of quality, sustainable and affordable goods (Core
purpose and values, 2020).
The objective of the company is to make the positive contribution by its goods and
services to the communities where the company operate. The main objective of the company
is to reduce the wastage of food and making surplus of food available to those who are need
of the same.
Assess the competitive advantage of the selected company, using the VRIO framework
Competitive advantage refers to factors which implies Tesco to make goods and
services better and more cheaply than that of the rivalry. It allows productive entity to
generate higher sale revenue and superior margins which is being as compared with that of
competitors of Tesco .
This could be understood with VRIO framework to gain competitive advantage of
company. It is the analytical technique which is being excellent for resources of Tesco and
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