Business Project: Tesco's Challenges, Stakeholder Analysis Report

This report provides an analysis of the issues and challenges Tesco faces in the global business environment, considering the dynamic market conditions that require effective strategies and policies. It focuses on challenges such as technology, competition, and the impact of COVID-19, which have led to declining sales and customer reach. The report identifies issues like pricing strategies, health consciousness among consumers, and intense competition from other retailers. It emphasizes the importance of competitive strategies and stakeholder analysis, categorizing stakeholders based on their power and interest to prioritize their engagement. Ultimately, the report highlights the need for Tesco to overcome internal and external factors through stakeholder support and expert contributions to ensure its continued success and growth in the market. Desklib provides this solved assignment and many more to aid students in their studies.

Business project

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK ..............................................................................................................................................3
Identified issues with how this is connected to the current
affairs. Also, an examination of the problem from the consultant’s perspectives.....................3
Purpose of the report ..................................................................................................................4
Stakeholder analysis....................................................................................................................4
CONCLUSION ...............................................................................................................................5
REFERNCES:..................................................................................................................................6
Books and Journals:....................................................................................................................6

INTRODUCTION
The report aims to provide analysation of issues and challenges company is facing in global
business environment. Business are working in highly dynamic market which require strategies
and policies to be better than others. Everyday, there is something new challenges and issues
arrive at organisation which must be faced to not losses brand name and profitability. Risks and
uncertainties are part of business but organisation need to overcome with these elements at initial
level. Therefore, the report is going to ficus on various challenges in current market affairs such
as technology, competition and impact of Covid-19 (Beynon-Davies, 2019). Tesco is a well
known reputed. It was operated in 1919. The company has global serving in many parts of world.
It is going to discuss in the report about retail issues by evaluating stakeholder analysis.
MAIN BODY
TASK
Identified issues with how this is connected to the current
affairs. Also, an examination of the problem from the consultant’s perspectives
Tesco is one of the leading retailer into the world. The company comes under top marketers in
terms of revenue, market reach and product diversification. Tesco is operation different types of
[product and brand categories in terms of Tesco bank, books, toys, beauty essentials, groceries
and many more. Therefore, It works at large level which demonstrate various challenges and
issues faced by company in terms of many internal and external factor. Working on international
level is not easy for Tesco as it require support of political and environmental conditions,
governmental interference, economic crises and legal formalities. All these factors are essential
to overcome with the current market challenges. The company is undertaking challenges of
Covid-19 due to which retail industry facing serious decline in their sales and customer reach.
There are a lot of recurrent affairs prevailing due to pandemic in terms of inflation, instability in
economic constitutions, restrictions on trade barriers and finding right talent into the
organisation (Chen, and Lin, 2021). In the current time, employees are seeking for jobs but does
no have much skills to perform in complex working environment. Whereas, professional experts
require high pays and incentives which is not feasible for the retail company by facing huge
losses. The other challenges faced by Tesco are revealed below:

Price: in every finical year, tesco urge to cut down their price with some good range which leads
to lowers down products and service rate. This policy was must for their customer and people
wait to lowering down prices of tesco products. But this year, the company has not maintained
this policy as early as possible due to which customer gets shift to its competitors like Aldi,
Sainsbury's and many more. Price is the major concern by seeing high inflation into world.
People look for expansing minimum amount on daily essentials goods. Therefore, Tesco needs to
make more effective strategies to curt their prices and enable affordable reach to customers.
Health consciousness: in current situation after pandemic and Covid-19 crises, people are
become more of health conscious and ready to intake products which have high immunity
booster ingredients (Rzepka, and Bojar, 2020). Therefore, Tesco needs to change their product
range by providing organic food packages to assure its market growth.
Competition: retail industry is well known for rapid competition and entry of new players. As
the products are similar and easily inimitable, organisation need to face shift in demand of
customers in terms of consumer changing behaviour. Fast fashion is continuously rising due to
advantage of social media an people want frequent change in clothing, food and other essential
items.
It has evaluated that, Tesco needs to invest more in research and development to analyse
what is being trending into market to overcome with the challenges of changing demands. Also,
they need to be more particular in providing healthy products which contribute in good health
conditions. All these ways are effective for company to reduce the impact of these current
market affairs.
Purpose of the report
It is essential to drive the significance of competitive strategies in order to deal with
current challenges. This report works on the purpose of analysing strategies to identify potential
customer and implement best strategies to exploit market and be competitive (Zin, and Ibrahim,
2020).
 Tesco aims to enable 20% more sales after the time of Covid-19 pandemic.
 The company wants to expand in more region with healthy and organic product range.
Stakeholder analysis
In order to conduct stakeholder analyse, there is required to identify are potential stakeholders of
the company. Mainly stakeholder are employees,investors, shareholders, marketer, managers

and directors of the company. Therefore, they all need to be prioritize as per their interest,
contribution into company. It could be better understood by power grid analyse which is defined
below:
high power, high interest: these stakeholders are the gem for organisation which needs to be
retain for long term. Tesco has effective leaders and directors who are reason behind companies
success.
High power, less interest: These stakeholders consist power on organisation revenue and
decision making but not take interest in day to day activities (Taouab, and Issor, 2019).
Shareholders and investors are part of this index in Tesco.
Low power, highly interested: These people are required to carry out daily functioning of
company through which they achieve targets. Tesco has employees, labours and marketers who
does not hold powers over operation but interested in performing job role.
Low power, less interested people: these people are not active or influence in organisation and
mainly monitor the work. Tesco has leaders and shareholder are these kind of stakeholder which
is necessary for keeping control.
CONCLUSION
The report has concluded about huge business environment which is affected with
internal and external factors. The chosen organisation is facing many issues relation to pandemic,
technology, political interferences also, price with economic conditions as al these factors are
required to be overcome by support of stakeholders and the company has pool of experts and
effective contributors.

REFERNCES:
Books and Journals:
Beynon-Davies, P., 2019. Business information systems. Red Globe Press.
Chen, Y. and Lin, Z., 2021. Business intelligence capabilities and firm performance: A study in
China. International Journal of Information Management, 57, p.102232.
Rzepka, A. and Bojar, E., 2020. Leadership as One of the Factors Shaping the Development of
an Agile Organization. Review of Integrative Business and Economics Research, 9,
pp.383-393.
Taouab, O. and Issor, Z., 2019. Firm performance: Definition and measurement
models. European Scientific Journal, 15(1), pp.93-106.
Zin, M.L.M. and Ibrahim, H., 2020. The influence of entrepreneurial supports on business
performance among rural entrepreneurs. Annals of Contemporary Developments in
Management & HR (ACDMHR), Print ISSN, pp.2632-7686.