Business Growth Strategies: An Analysis of TESCO's Development Plan

This report offers a detailed examination of TESCO's business development plan, highlighting its significance for organizational success. The report delves into TESCO's strategies, including market analysis, SWOT analysis, and customer retention techniques. It covers the importance of a well-defined business plan in setting objectives, analyzing market trends, and adapting to future opportunities and threats. The report further explores the implementation of strategies, emphasizing the need for flexibility and technological advancements. It also discusses the role of review and control in ensuring the plan's effectiveness. The report concludes that a well-executed business development plan is vital for TESCO's expansion, revenue growth, and market share enhancement.

Business Growth Plan

Table of Contents
INTRODUCTION...........................................................................................................................3
Business development plan for TESCO.................................................................................3
Executive Summary................................................................................................................4
Introduction ...........................................................................................................................4
Objectives...............................................................................................................................4
Analysis..................................................................................................................................5
Strategies................................................................................................................................5
Implementation.......................................................................................................................6
Review and control.................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
This report helps in understanding the importance of business development plan in
success of the organisation. Business development plan helps in understanding the objectives and
goals for the organisation and it helps in defining the objectives for the future and understanding
the importance of formulating and implementing new strategies in the organisation. The effective
development plan helps organisation in achieving the goals and objective effectively and
efficiently. Business development plan helps in analysing the market trends and prepare for futre
opportunities and threats. This report revolves around the business development plan of TESCO.
TESCO is one of the largest supermarket chain in the UK. Despite the strong competitors in the
market like ASDA, Sainsbury's, Morrison etc. they have managed to stay on the top and this is
only achieved by effective implementation of business development plan. TESCO is the
organisation which have implemented their business plan effectively and it is helping them in
boosting their profits and expanding their business globally.
MAIN BODY
Business development plan for TESCO
The business development plan shows how TESCO is expanding and growing their by
formulating and implementing a effective business plan. Business plan is helping TESCO in
planning the resources for the consumption and how to use them effectively and efficiently.
Business development plan is formulated to analyse the strengths and weaknesses of the
organisation and to prepare for the threat and opportunities in the market. TESCO is one of the
leading supermarket chain in UK and this is only possible because of the business plan their
organisation implemented (Amnasari, 2017). Business plan helps every individual in the
organisation to understand the given role and responsibilities. It helps TESCO in setting up the
mission, vision and values. Business development plan contributes in the growth of the TESCO
and helps in increasing the capital. It also helps in enhancing the brand image and by analysing
the demographics and customer needs and wants TESCO can expand it's market share but it is
very important that TESCO should provide quality product at affordable prices which helps them
in retaining their consumers (Cerdeira, 2018).

Executive Summary
TESCO is one of the leading player in supermarket chain of UK. TESCO is able to
achieve this supremacy in market due to the effective implementation of the strategy.
Organisation goals and objectives are pre-defined to each and every individual of TESCO which
helps them in achieving the organisation objectives effectively and efficiently. Objectives of
organisation helps in setting up the long term and short term objectives. TESCO is the
supermarket chain which provides quality grocery products to their consumers within affordable
prices. TESCO also provides banking services to their consumers which helps them in increasing
their market share because the brand image of TESCO helps them in attracting the consumers
(He, Marginson and Dai, 2019).
Introduction
This business plan of TESCO includes the introduction about the company which covers
what TESCO deals in and what products they sell to the consumers. It tells about the product
range they sell to their consumers and what is their mission and vision. The next steps tells about
the goals and objectives of the TESCO in which it tells about their long term and short term
objectives. TESCO goals and objectives also defines about the expansion of the organisation
where they have not stepped in yet and focusing on generating the more revenues for
organisation. The next steps includes the analysis of the internal and external environment for
TESCO by which the organisation can understand it's strengths and weaknesses and helps in
analysing the threats and opportunities within the organisation and outside the organisation. The
strategies formulated for the organisation and implementation of those strategies in effective
ways is included in the final steps and the last step includes the reviewing the strategies and
making the changes according to the need of business.
Objectives
Objectives which are created are based on the basis of SMART methodology. This states
that the objectives should be Specific, Measurable, Achievable, Relevant and Time specific. The
objectives mentioned below for the TESCO are for the time period of 12 months and TESCO
will try to achieve these objectives within given time. The objectives of TESCO includes firstly
to gain competitive advantage over their competitors (Ivanisevic and et. al., 2016). It can be
achieved by using the organisation resources effectively and managing the employees of the
organisation. The another objective includes attracting the consumers by doing effective

marketing and by providing them quality product order and services to satisfy them and to retain
them by providing the products according to their needs and wants. Customer retention will help
them in boosting their revenues and help them in increasing their market share. Next objective
includes the expansion of the organisation globally by increasing their capital and look to expand
their business where they have the opportunity to succeed. The execution of business strategies
successfully is also a important objective because it will help them in boosting up the
organisation performance (McKenzie and Sansone, 2017).
Analysis
Analysis of market and competitors is very important for organisation to understand the
needs of the organisation and in setting up of goals and objectives for the organisation. SWOT
analysis of TESCO helps the organisation in understanding their strengths, weaknesses, threats
and opportunities. This analysis will help TESCO in formulating the strategies and
implementing them to achieve the desired goals and objectives. On the basis of SWOT analysis,
it is understood that the brand image and the market share of TESCO is categorized under their
strengths and the products they offer to their consumers within the affordable also counted in
their strengths. Companies like ASDA, Morrison, Sainsbury's which constantly poses a threat for
TESCO as these are the companies who are trying to replace TESCO. Quality of food products
and ignoring the foreign growth is considered as the weaknesses of the TESCO. Change in the
leadership on constant basis is also a weakness for the TESCO. Expansion in foreign market and
tie-up with the top IT companies to improve their process of operations and to make progress in
the era of digitalization is the opportunity for the TESCO.
Strategies
Strategies will help TESCO in understanding the market trends and strategies also help
them in using their resources effectively and efficiently. TESCO focuses on different strategies
which includes firstly the management of the organisation the management team of the TESCO
should be flexible and ready to tackle and resolve any kind of issues. TESCO should focus on
their relationship with their consumers because it will help them in retaining their consumers and
this can only be achieved by getting their feedbacks about the products and providing them
quality products. The next focus is on the using the new technology because this will help them
in making their production and operations process efficient. This will give them the competitor
advantage over their competitors (Qiao, 2018). The another strategy which can be used to is to

collaborate with the successful organisation in foreign market which will help them in boosting
up their revenues (Rosati and Conti, 2016).
Implementation
Effective implementation of the strategies is important for the success of every
organisation. TESCO strategy for making their management flexible can only be effectively
implemented by organizing training and development programmes for their employees and to
train them to analyse the customer feedbacks with maximum accuracy and understanding the
needs of the consumers. Training programmes will make the employees effective and efficient in
their field. Implementation of another strategy which is acquiring the new technology is possible
only when the higher level people of TESCO understands the market and by analysing the
current market trend they acquire the latest technology in order to achieve the competitor
advantage over their competitors.
Review and control
The final step in the business development plan includes the review and control. This step
describes about the TESCO plan which is being proposed for the development should be
monitored on the timely basis. Market dynamics are very unpredictable and it can affect the
business of the organisation in negative and positive way (Vaníčková and Szczepańska-
Woszczyna, 2020). It is very important for TESCO to schedule the timely meetings and to
review the plan and make sure the implementation of the plan should be done effectively and
efficiently. This would help TESCO in determining their growth and helps in making the change
in plan if needed by analysing it on timely basis.
CONCLUSION
This report concludes that the business development plan consists of different phases and
it is a timely process which can be achieved and implemented by effectiveness. The business
development plan is very important for TESCO as it helps them in expanding their business and
boosting their revenues and also it helps them in analysing the threats and opportunities in the
market by which they can increase their market share. Business development plan should be
monitored on timely basis by which it can be determined that the plan is successfully
implemented or not and if there is any changes in the market then review the changes and make
changes in that plan.

REFERENCES
Amnasari, O., 2017. BUSINESS PLAN FOR RECRUNCH (Doctoral dissertation, President
University).
Cerdeira, S., 2018. The business plan in the context of corporate entrepreneurship: a literature
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He, G., Marginson, D. and Dai, X., 2019. Do voluntary disclosures of product and business
expansion plans impact analyst coverage and forecasts. Accounting and Business
Research.49(7). pp.785-817.
Ivanisevic, A., and et. al., 2016. Business plan feedback for cost effective business processes.
Advances in Production Engineering & Management.11(3). pp.173-182.
McKenzie, D. and Sansone, D., 2017. Man vs. machine in predicting successful entrepreneurs:
evidence from a business plan competition in Nigeria. The World Bank.
Qiao, X., 2018, January. The Plan for City's Intelligent Growth. In 2017 7th International
Conference on Education and Management (ICEM 2017). Atlantis Press.
Rosati, U. and Conti, S., 2016. What is a smart city project? An urban model or a corporate
business plan. Procedia-Social and Behavioral Sciences. 223. pp.968-973.
Vaníčková, R. and Szczepańska-Woszczyna, K., 2020. Innovation of business and marketing
plan of growth strategy and competitive advantage in exhibition industry. Polish Journal
of Management Studies,21.