Strategic Management Report: An Analysis of Tesco Plc's Strategies

This report offers a detailed analysis of Tesco Plc's strategic management, focusing on the application of Porter's Five Forces model to assess the company's competitive environment. The report begins with an executive summary and introduction, outlining the importance of strategic management in ...Read More

Strategic
Management

Table of Contents
EXECUTIVE SUMMARY ............................................................................................................1
INTRODUCTION...........................................................................................................................2
PART 1 ...........................................................................................................................................2
MAIN BODY...................................................................................................................................2
PART 2 .........................................................................................................................................11
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................15

EXECUTIVE SUMMARY
Strategic management is consist as a simply and continuous process of planning,
monitoring and analysing the operations of firm in respect to achieving goals and objectives of
business. The administration division of an association is in charge of all exercises that are useful
in accomplishing wanted objectives and destinations. Association decided for this specific task is
Tesco Plc is the most prevalent firm which bargains in garments and brilliant sustenance items,
innovative types of gear, house stylistic layout things and so forth. It is situated in UK. This
report substance the investigation about various components of vital administration. Essential
issues and issues are additionally be talked about. Different hypotheses are thought about based
on various criteria related with vital administration. Vital administration comprise as the plan of
different exercises for expanding development and accomplishment for firm. This work must be
finished by top expert of firm. It causes in giving guidance to organization for making powerful
arrangements, strategies and systems for achieving pre-decided objectives and destinations
which drives the firm towards development and achievement. Presently a days business
condition is dynamic in nature for quickly developing of business and its exercises. There is a
necessity of advancement, developing innovation and desires for clients drive organization to
thoroughly consider it and settle on a few choices deliberately for achievement of big business.
Their is prerequisite of legitimate vital administration. This task depends on Tesco Plc it is retail
part association established in 1919 by jack Cohen too this organization have roughly 6553
stores. Items serving by them are grocery store, hypermarket, superstore and comfort shops.
Number of representatives are working with them is 476000 approx according to the information
of 2017.
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INTRODUCTION
Strategic management is consist an a management of an organisation's resources as to
attain its goals and objectives. Strategic management is also considered as an effective process of
planning, analysis, monitoring and assessment of all the relevant element which are necessary for
an organisation to meet its goals and objectives (CHUANG and Liao, 2010). Strategic
management is a process in which various elements are involved such as setting objectives,
analyse the competitive environment, analyse the internal organisation, evaluating strategies and
ensuring that management rolls out the strategies all around the organisation. In the modern
business environment competition is so high at market place and organisations are widely
concern on implementing innovation and effective strategies as to developing its operations at
wide scale. Tesco Plc is the chosen organisation for this particular report, it is a largest British
multinational groceries and general merchandise retailer company. The headquartered is in
Welwyn Garden City, Hertfordshire, England , United Kingdom. This particular report is based
on two different parts as each of the part is based on strategic management. The first part of the
report contents the study about the concept and model of porter's five forces, its importance for
an organisation or how it is useful for growth of firm. The second part of the report is connected
with the first part as in this a case study will be prepared in which a proper detail about
organisation is discussed.
PART 1
MAIN BODY
Strategic management is a vast concept which plays effective role in growth and
development of firm. It is an effective process which is based on identification and description of
the strategies which are carried by managers and organisational higher authorities as to achieving
better performance and competitive advantage. In today's scenario organisations are widely
concern on attaining competitive edge through gaining high profitability at market place. It is
also necessary for an organisation to set some goals and objectives in order to implementing all
business operations in effective manner. In an organisation manager plays vast role in
implementing various strategies as to attaining competitive edge at market place (Doz and
Kosonen, 2010). In today's era competition is so high at market place and organisations are
widely concern on creating some aims and objectives as to providing an appropriate direction to
2

the employees in order to accomplishing them within the desired period of time. Strategic
management helps in providing an overall direction to the firm in which plans and policies are
involved. This create value in attainment of organisational objectives through proper utilisation
of resources. Strategic management is considered as a goal oriented decision and action in which
organisational capabilities and sources are matched with the opportunities and threats in its
business environment. Tesco Plc is a largest food retailer offering a variety of services for food
and non-food items in which insurance, electrical, entertainment and many other elements are
involved. The company employs more than 4,40,000 employees across the globe. As a large
business enterprises it is essential for Tesco Plc to implement strategies as to moving their
business operations in right direction towards attaining higher growth and success at market
place. Porter's five force model is considered as the most essential strategy which plays vast role
in managing organisational operations and functions in effective manner (Eden and Ackermann,
2013). Michael Porter created various effective frameworks for developing an enterprises
strategy, the major purpose of strategist is to analyse the competition of market and cope with
them as to reaching at higher position. In an organisation is the prior responsibility of manager to
analyse the competition in order to as to providing high competition to their rivals through
creating more effective strategy. Porter's five forces model is consist as the most renowned tool
by which managers are making effective strategic decision through the utilisation of five
competitive forces model which determined the structure of firm. As per the opinion of porter,
the nature of competition in an organisation is analysed through the effective forces, which are
described as under:
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(Source: Porter's Five Forces Model, 2016)
 Threat of new potential entrants Threat of Substitutes Bargaining power of suppliers Bargaining power of suppliers
 Rivalry among current competitors
These elements are effective in formulating strategy which create value in attainment of
organisational objectives in appropriate manner. The potential significance of these elements are
differs from organisation to organisation (Freeman, 2010). These forces works together to
analyse the profitability of firm as they shape the prices which are charged, the costs which can
be borne and the investment that are essential to compete in a particular business sector.
Risk of Entry by potential competitors: This consist to be the major factor which has a direct
influence on the growth and development of firm. This signifies the firms which are not currently
operating in the market but have the potential to provide high competition. Entry of new firm
develops the capacity of industry, starts a competition for market share and reduce the current
costs. The threat of new entry in the food sector is low as Tesco is the largest food retailer
company and an organisation needs to have a huge amount of capital in respect to providing
competition and establish an effective brand image. Another essential brands which hasve
captured the food retail market such as Tesco, Sainsbury, Asda and Morrisons and they account
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Illustration 1: Porter's Five force model

for more than 80 percent of all shopping in the United Kingdom. Further more new entrants are
concern on produce new products at an exceptionally lower costs with high quality as to
establishing a reputed image at market place (Gooner, Morgan and Perreault, 2011). Government
and its authorities plays a vast role in creating an effective planning as to implementing
activities of a new entrance at market place. This can be considered as the major threat which
create barriers to new entry.
Threats of substitutes products: Substitute products are defines as the products which are
having some similar set of features and also effective in satisfying the needs and wants of people
at market place. In the modern market era competition is so high at market place and
organisations are widely concern on applying the strategies of rivals as to attaining significant
position at market place. The power of substitutes is high when an organisation offers attractive
products in less prices than their rivals. Tesco Plc deals in variety of goods and services and
segment its operations at large scale. In the market the competition is so high at market place and
Tesco Plc has large number of rivals which are concerned on producing similar products and
services as to providing high competition to their rivals. The threat of substitutes in the grocery
retail market is low for food products and medium to high for non-food products. In the food
retail market, the substitutes of major food retailers are small convenience outlets, organic shops
and off licences, these are not seen as a danger to supermarket such as Tesco Plc which offers
variety of high quality products at lower cost. Thus Tesco Plc is concern on opening a new
express stores in the local cities and towns as to creating issue for entry of substitutes at market
place. The threat of non-food products are comparatively high. Until the recession will be there
in the economy, people will be attracted towards discount pricing and hence, Tesco Plc can be a
bigger rival for speciality shops.
Rivalry among current competitors: This consist as an essential element of Porter's five force
model strategy, this defines to the competitive struggle for attaining market share and revenue
within the firms in the same sector (Greco, Cricelli and Grimaldi, 2013). Extreme competition
has a direct influence on the growth and profitability of firm as rivals are having ability to attract
customers towards their products through offer products in less prices. If the competitor is
intense, it drives down the prices of products and dissipates profits and revenue through raising
the cost of competing. Tesco Plc deals in different segments in which intensity of competition in
the grocery and food retail industry is high, as the company has large number of rivals such as
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Sainsbury, Asda, Morrisons and Waitrose etc. the all rivals are competing with each other over
the matter of price and quality aspects. Asda is one of the major rival of Tesco, during the fiscal
year the market share of firm in this segment increases from 16.6 percent to 16.8 percent.
Sainsbury has shown developing level to 16.1 percent from 15.8. The slow market growth
essentially defines that the developing market share from rivals have intensified the market
competition, which has a direct influence on the market leadership position of Tesco Plc.
Bargaining power of Buyers: Clients are the ruler of market and in which industry Tesco
bargains the bartering energy of clients are high (Grewal, Janakiraman and Tolerico, 2010).
There are different changes in clients showcase which are connected with increment and decline
in selections of clients changes in brands and moulds, alteration of items influences the matter of
Tesco Plc. Item situated systems are not viable when their rivals are utilizing technique clients
arranged approach. This referred to firm is mostly centres around building up a decent and
comfortable association with clients. Tesco Plc is a company which is engaged in the sector of
retailing and here the role of consumers are very high. There are lot of players which are
competing on a larger scale and thus it can be said that there will be a high level of competition
within the market and thus there is going to be a high bargaining power for buyers as they would
have the luxury to switch to any other sellers in an effective way. There are various sellers within
the market and is exchanged in the business of super market. Thus it is quite essential that right
kind of strategies bare framed by the company and its management, in order to retain their loyal
customers with themselves for a longer period of time.
Bargaining Power of Suppliers: Generally providers of Tesco Plc were British. The
organization had put away their stock ahead of time from the UK providers. At those
circumstances when there was subsidence in the economy. The supply was influenced of all
different business however this organization could appear there powers as they had just put away
their stocks ahead of time. along these lines they were having their forces as they were offering
the items at the costs which they feel were reasonable (Hill, Jones and Schilling, 2014). The
suppliers of Tesco are big and reputed players and they are always having an option to open up
their own stores and make selling of products as well as services through their own stores in an
effective as well as efficient way. Thus it can be said that suppliers of the Tesco also do have an
edge over other suppliers within the market and they can bargain with companies like Tesco as
they have the option to go with some small retailers like sainsbury's and Asda which operates in
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the market at a smaller margin then Tesco and thus scope of growth may be higher with other
competitors.
This model was developed in the year of 1979 by Harvard Business School professor
Michael E. Porter. It was his very first article for the Harvard Business review titles that how
competitive forces shape strategy. This model allows an organisation to analyse and identify the
essential elements which determines the profitability of an organisation. Porter is mainly
classifies this model in five competitive forces which affects any market and industries growth
and success. This model is effective in analysing the actual market situation and determine the
available competition in market and consequently affects the profitability and productivity of
firm at market place (Hitt, Ireland and Hoskisson, 2012). In this modern business environment
small as well as large business enterprises are concern on satisfying the needs and wants of
people at market place through offering variety of products and services. For the intention of this
model, organisation attractiveness is the overall profitability potential of the firm. An effective
and attractive sector will be one in which the collective power of the rival forces will enhance
profitability and performance. On the other side an unattractive sector will be one in which the
combined influence of the forces will leads down the profitability potential.
These forces are termed as the micro environment by Porter, Influence how a company
reach to its target market and attain higher amount of profit. Any kind of change in one of the
force of this model might mean that an organisation has to re analyse the environment and line
up its business operations, practices and strategies. In each small as well as large business
concern the impact of each force will be different, this is essential for organisations to develop
this model separately for every firm even if the company with similar sector is competing around
different industry and market. For example: the retail industry has high competition within the
market and in this bargaining power of buyers are high as in retailing the major purpose of firm
is to satisfying the needs and wants of people at market place (Hodgkinson and Healey, 2011).
On the other side there is no threat of new entrance as it is not easy for an organisation to reach
at higher position because the degree of proprietary knowledge and investment is high. Porter's
forces model is widely applied by organisations as to analysing the actual market situation and
satisfying the needs of buyers through offering them goods and services as per their choice.
There is the major importance of this kind of model because understanding the
competitive kind of forces and their underlying purposes will which can mainly reveal the
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company's roots which in turn can provide a framework for anticipating and manipulation up of
competition over time. Major strength of this kind of model is that it will remain the best known
and one of the most utilised method in strategic management even after the twenty years of the
introduction. Another major strength is that structure of the model is ease to access and thus it
can mainly give simple ways of understanding for the market force analysis (Mudambi and
Venzin, 2010). This kind of model can be remained as the impact upon the scope so business
strategy will have the affect along with having impact upon the practice of companies. This will
mainly put the focus upon the certainty of the model and this is mainly being used from the
competitive strategies. Major cause can be provide the picture of essential activities of the
companies. This kind of model which can describes all kind of movements from the suppliers of
the resources. Role of the TESCO is mainly stressed about the unit value which is being
created.
Porter five forces model has different types of criticism which has been evaluated and
analysed. Further, apart from such acknowledgement this mode is fixed or static and does not
change according to the requirement of external environment and this leads to lack of
coordination and cooperation among companies which increase the conflicts and disputes within
the organisation that affect their overall objectives and goals. Apart from this the model is used
to understand and analyse the whole market situation and structures and this give alert that too
narrow look only on one segment will cause oversight of different important factors and
elements. She further concluded that as well as others that five forces model tool is such
mechanism through TESCO organisation can easily understand all the present market conditions
in better and effective manner which consider as good beginning for further analysis through
which organisation can easily give up the idea regarding advances changes in respect of goods
and services through which they can easily accomplish all the targets and goals of business in
better and effective manner.
This kind of model is mainly being utilised by the company TESCO and there are three
kind of issues for planning of the company. First one is that this model helps in determining the
appealing factor of the TESCO. Along with this, model will help out in making the decisions
regarding the leaving and industry. This kind of model's usefulness mainly lies within the
comparison of impact upon the competitive forces on the company which can make impact upon
rivals. Secondly can be company has the knowledge about the power and intensity of the model
8

which can have many of the possibilities for enhancing the with the competitive position which
is strategic partnership. Thirdly, model is all about the combination of the with the PESTLE
Analysis which has the potential of making impact upon the upon the company like TESCO
which in turn can mainly indicate the trends within the society. There is no kind of consistency
as they are mainly determined by the wide level of macro environment which is economical,
political, social and technological forces (Poister, 2010).
Show presents successful method for examining nature and it is prescribed to utilize it as
the firs venture of organization procedure improvement. He calls attention to its genuine
significance as results are displayed in legitimate and organized way. Show is being seen as
exceptionally valuable as it can be utilized to examine character of rivalry inside industry and for
perceiving openings and dangers. Openings and treats speak to the outside piece of SWOT
examination so we can see the unmistakable association of Five Forces demonstrate with another
model.
Another preferred standpoint of the model is that it looks on association like TESCO through an
extensive variety of perspectives which are incorporated into the model's five powers. In this
way, it is efficient approach for investigating the present circumstance of business and plan
procedure (Keupp, Palmié and Gassmann, 2012).
Further there is the shortcoming of the model of Porter which is only meant for transnational
company like TESCO which does not have high level of knowledge in the sector of
advertisement, consulting or the legal. Manager of the company has some kind of risk when they
use this kind of tool and it is highly recommended for altering the model as per needs of cuh kind
of company.
One of the another reason for critics are frequent changes in economic environment that affect
the overall operation of business. This model shows the whole situation in the eighties and
elements like cyclical development, steady market structures and huge competition become
typical in these present situations. In today current scenario upcoming technologies, internet and
digitalisation are seen in industries that change the whole picture of industry structures. This is
the one of the important reason because of which this model is not adjusting with current market
situation and also effect the working structure of company which create hurdle for company to
accomplish the daily targets of company.
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Under this current situation the factors like globalisation, digitalisation and advancement in
technology also impact on all the operations and functions of business. TESCO in order to
maintain their long term sustainability and achieve higher profitability company required to
adopt such methodology and innovative creative ideas in their products and services which allow
them to provide multiple ranges of products and services in retail industry and easily enhance
sales also.
In summary, Porters model which does not have any kind of impact upon any kind of person.
There are economical laws which has came up and other drivers which has the potential of
transforming the markets (Hodgkinson and Healey, 2011). All has to be done is implementing
the knowledge on the limitations within mind and thus it can utilise them for maintaining the
large kind of framework of the management tools, theories and techniques.
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PART 2
Strategic management is consist to be a process of determining the actual situation of
market, developing appropriate strategy which is effective for organisational growth, putting the
strategy into proper action and analysing, modifying or changing the strategy as per the
requirement of market condition. It is necessary for each business enterprises is to be focused
towards strategic management as to handling the all business activities in well planned and
systematic manner. Proper implementation and management of strategies are consist as the
essential duty of managers and higher authorities as to carry out whole business activities in
appropriate manner. Tesco Plc is a large British Multinational company which deals in retailing
sector and the company is widely concern on satisfying the needs and wants of people at market
place through offering them variety of products and services (Freeman, 2010). Tesco Plc was
established in the year of 1919 through Jack Cohen from a market stall in London's East End.
The analysis is based on Tesco, why the company after dominating the United Kingdom retailing
more than 25 years and losing market share. Thus the UK and global economic recession build a
negative influence on the retailing industry. In the market area the competition is high at market
place and Tesco Plc has large number of rivals which are doing well at market place and expand
their business operations through satisfying the needs and wants of people at market place. To
maintain the situation of company at market place, the newly appointed chief executive officer,
Philip Clarke came up with a advance strategy as to handling the business situation and
condition. Strategic management plays vast role in conducting all business operations in
effective and appropriate manner through providing the right task to right person (Swayne,
Duncan and Ginter, 2012). As a large business enterprises Tesco still faces various kind of
issues and problems and stakeholder and commentators are worried about its future. To analyse
the situation, the business case determines the background of the UK retail sector, further more
the study evaluate the structure and competition available within the sector and changes in
customers choices and preferences. The study than determine the strategy of Tesco which are
helpful in analysing the strength and weaknesses of firm. In addition, the study shows that how
successful porter's five force model have appropriately been implemented or managed. Tesco Plc
is the largest retailer in the United Kingdom and third in the universe. In the year of 2000's the
performance of Tesco has started to decrease. The reason behind this phenomenon has been
attributed to the recession issue which started in the year of 2008. market recession has a direct
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influence on the income level of shopper, hence in this situation shoppers are decided to shift to
the other retailers which are effective in providing better deals to them. Due to high competition
in the market people can easily switch to the competitors of Tesco Plc as per the quality and
features of the products. The reason for such kind of issues are analysed by various analysts are
underinvestment and less emphasis in Tesco's UK market operations as the firm is significantly
concern on its international operations. This create decrease in the staff member, operational,
functional and marketing issues in its local operations. Hence the company started to experience
reduction in market share. It is also essential for company to manage its resource as to
conducting its business operations in effective manner (David, 2011). An appropriate strategic
management plays vast role in improvising the ability of organisational operations as to reaching
at their desired goals and objectives in effective manner. In respect to change the market
condition, Philip Clark suggest a strategy which incorporates six elements such as restoration of
outlets, employees training, improve its online facilities, developing the value and range of its
offering and deals in best prices. The effective selection of strategies are helpful in developing
the performance of firm at market place. At the time of recession the growth and profitability of
firm are decreased and it is essential for firm to design an effective strategy as to reaching at their
desired goals and objectives in effective and appropriate way. Porters five forces model is
effective for enhancing the performance and sales of firm at market place and also create value in
maintain the reputed position of firm at market place. The company is mainly faces the issue
which is related with high competition as a large retailer company Tesco has large number of
competition available at market place which all are concern on matching the level of firm
through producing more effective products and services at market place. In the situation of
competition customers are having various choices and if they are not feeling satisfied that they
can easily switch to the other brand and firm in respect to satisfying their needs and wants as per
their choice (Godet, 2011). The elements of porter's five forces are effective in analysing the
current market situation which helps the firm in developing a relevant and appropriate product as
to fulfilling the desires of people at market place. Strategic management is highly indispensable
for overall company success because it helps in assisting an organization towards corrective path
by taking appropriate initiatives. Mainly, one of the major factor which shows that company
must have minimum losses which is only possible if managers are designing suitable plans or
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policies. Apart from this some of the other tools that shows the significance of strategic
management at workplace are described as follows:-
Setting business goals:- Initial thing is that designing of company vision and mission aids in
controlling possibilities of mistakes and confusions. Additionally, guide employees towards their
personal and professional objectives.
Regulating company loss:- As per this element it has been assessed that prior planning is also
helpful for selected firm in several manner (Gregorini, 2012). Strategy consist of all the
necessary plans and policies which is guiding staff members or team to act as per the direction in
order to minimize the risky situations.
Porter Five forces Model explains the impact of market forces on the growth as well as
development of business. It consist of various factors like bargaining power of buyers and
suppliers, existing competition, threat of substitute etc. These do have a considerable impact on
the workings of company. But the same can not be said to be perfect in its own. There are
various views of different people who have argued that, it is not possible to judge and analyse the
impacts and effects of all the factors in an effective manner to frame strategies, Peter Drucker
argued that bargaining power of buyers and suppliers concepts are vague in nature and thus can
not be be used to frame strategies over longer period of time (Hair and et. al., 2012). There is
also discrepancy in the concept as it does not state the benefits in a quantified manner. It is thus
quite crucial to implement porter five forces model after taking into consideration various
aspects of business. The ultimate aim of any manage rand company is to manage business in an
effective manner and only those strategies shall be used that will provide path for the
management to grow and prosper over period of time. Also the fact that existing rivalry though
do have a considerable impact on the working of company but the same can not be an isolated
force that will decide the strategies of company for the purpose of raising market share and
gaining customers on a large scale. It is also very important to make sure that other strategies of
analysing position in a market place shall also be taken into consideration by the management of
company. The other strategies would include a proper research of market and not just the effects
of bargaining power of buyer or supplier etc. A research will enable a company to take decision
in a comprehended way.
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CONCLUSION
From the above given report it has been determined that strategic management is consist
to be a crucial element which performs vast role in growth and development of firm, as it is
essential for each business to implement effective strategies as to conducting their business
operations in appropriate manner. Vital administration is additionally considered as a powerful
procedure of arranging, investigation, checking and appraisal of all the pertinent component
which are important for an association to meet its objectives and destinations. Key administration
is a procedure in which different components are included, for example, setting destinations,
examine the aggressive condition, investigate the inner association, assessing techniques and
guaranteeing that administration reveals the systems all around the association.
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Online
Porter's Five Forces. 2014. [Online]. Available through:<http://jtorres2015.wixsite.com/tesla-
team5/porters-5-forces>.
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