Tesco's Adaptation to Top 5 Business Trends: A Strategic Analysis

This report provides an analysis of Tesco's adaptation to current business trends. It begins with an introduction emphasizing the importance of forward-thinking management for sustainable business practices, focusing on strategic planning and decision-making in response to market changes. The main body of the report identifies and discusses five key business trends: sustainable and resilient operations, balancing intelligent robots and human workers, more agile and flatter organizational structures, adopting e-commerce strategies, and increased use of social media. Each trend is examined in the context of Tesco's operations, highlighting their strategies for implementation. The conclusion emphasizes the need for businesses to regularly adapt to market trends and adopt economical and easily implementable policies. References to relevant journals and books are also included.

Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Top five business trends.........................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Management of every business aims to
have general changes in their operations so
that they can meet the current trends of the
market. It involves a strategic planning and
decision making in context to shift in values,
attitudes, economic landscape and
technologies (Reis and et.al., 2021). This
report is based on Tesco which is a
multinational retailer headquartered in
England, UK and established in 1919. This
report will include top five trends of
business in future which help establishing
the brand image in over all market.
MAIN BODY
Top five business trends
Business Trends are important for
Tesco so that they can match the
Expectations of the society and customers
with the help of their products and services
by implementing new events, new tools and
technologies. This will help them in
establishing better brand image in market
which carry forward organisation to next
level. Top 5 trends which Tesco will follow
for future as discussed below:
Sustainable and resilient operations:
Tesco focus on reduction and elimination of
environmental cost during their operations
which is the most important factor of
forward thinking. This will help them in
making their business more sustainable for
longer time period which is positive aspect
of this business trend (de Jong and et.al.,
2021). Sustainability and resilience are
interlinked with each which focus on the
adoption of new methods so that business
can survive effectively in longer run.
Adopting new methods can help Tesco in
decarbonizing the supply chain which is
essential factor for reduction of
environmental costs. They should focus on
the consumption of natural resources which
are renewable in nature so that they can
maintain proper balance in environment.
Tesco focus of their waste management
programs so that they can fulfil the
requirements of society and environment in
effective manner. They follow all the
corporate social responsibilities which help
in suitability in best possible manner.
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Maintain balance between intelligent
robots and human workers: Nowadays
every organisation adopts technical changes
such as Artificial Intelligence and use robots
for various day to day operations. These
technologies are handled by human beings
but organisation have to maintain a balance
between the usage of technology and
number of recruitments for the operations.
Tesco aims and plans strategically that what
roles and operations have to be carried out
with the help of human Intelligence and
what roles are carried with the help of
intelligent machines. This clears out doubt
of the humans and maintain a appropriate
balance between technology and human
resources which is necessary for the
satisfaction of the employee behaviour and
values (Di Vaio and et.al., 2021). Tesco
provides training and development sessions
to their employees so that they can
effectively use the technology for the
smooth operations which leads to higher
revenue generation. This will lead to change
the nature of the work in future which will
help Tesco in smooth operations.
More Agile and flatter organisations:
Organisations need to change their rigid and
strict hierarchical structure for their
operations. Due to the large structure and
larger number of departments, Tesco also
follows hierarchical structure for the flow of
responsibilities and authorities. Tesco is
planning to change their organisational
structure because long hierarchy can results
delay in operations. Flatter and Agile
structure allows management of Tesco in
quick decision making and planning so that
employees can accomplish their deadlines
on time. In order to change the nature of
business it is important to co-ordinate in
better manner which helps in conveying of
messages, information and ideas in less time
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period. Responding to change can only be
possible when there is proper flow of
communication between employees and
managers which helps in understanding of
operations in better manner. Flatter structure
of organisation will provide flexibility to
Tesco for communication and coordination.
Adopting E-Commerce strategy:
After the covid-19 pandemic the it has seen
that behaviour of customers are changed
completely towards shopping. Most of the
customers prefer online shopping rather than
shop traditionally from the market because it
save lot of time. Tesco is also planning to
adopt e commerce strategies that will help
them in engaging customers in large number
(Aguero and Khodaei, 2018). All the
sections and services of Tesco is gradually
adopting e commerce platform which will
increase their sale in best possible manner. It
will increase the scalability of Tesco which
help them in growth and expansion in lower
time period. E commerce platform assist in
attracting wider customer base by showing
wider product catalogue at a same time. It
will also help Tesco in analysing the
customer insights and their engagement.
Increased use of social media:
Initially Tesco uses various traditional and
offline methods of marketing which results
in huge cost and takes lot of time in
attracting people. But gradually Tesco
adopting various social media platforms for
marketing purposes which is highly
economical and beneficial for them. Tesco is
using various platforms like Instagram,
Facebook, Twitter and YouTube for
promoting their products in effective and
fast manner. Social media becomes priority
of each and every segment of the society
which helped Tesco in attracting large
customer base along with the reduction of
marketing cost (Remondes and Afonso,
2019). They also hire various social media
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influencers who can promote their products
by using various influencing techniques. It
helps customers in understanding the
features and qualities of products in better
manner with the help of images and videos.
CONCLUSION
From the above report it can be
concluded that adopting business trends help
organisations in increasing their
profitability. Businesses should regularly
change and alter their operations so that they
can match the current market trends. It is
necessary to adopt policies and procedures
which are highly economical and easily
adoptable by the organisation in order to
satisfy the demands of society. This report
includes five business trends which are
adopted by organisation so that they can
grow and expand their business in future.
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REFERENCES
Books and Journals
Aguero, J.R. and Khodaei, A., 2018. Grid modernization, DER integration & utility business
models-trends & challenges. IEEE Power and Energy Magazine, 16(2), pp.112-121.
de Jong and et.al., 2021. Key trends in business-to-business services marketing strategies:
Developing a practice-based research agenda. Industrial Marketing Management, 93,
pp.1-9.
Di Vaio and et.al., 2021. Understanding knowledge hiding in business organizations: a
bibliometric analysis of research trends, 1988–2020. Journal of Business Research, 134,
pp.560-573.
Reis and et.al., 2021. Business models for energy communities: A review of key issues and
trends. Renewable and Sustainable Energy Reviews, 144, p.111013.
Remondes, J. and Afonso, C., 2019. An overview of main IoT trends applied to business and
marketing. Smart Marketing With the Internet of Things, pp.245-264.
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