HND Business Strategy: Analyzing Strategic Planning for Tesco

This report provides an analysis of business strategy, focusing on strategic planning for an organization, exemplified by Tesco. It assesses how business missions, visions, objectives, goals, and core competencies inform strategic planning. The report also analyzes the factors considered when for...Read More

Business Strategy
(Task 1)

Table of Content
 Introduction
 Business missions, Visions, objectives and core competencies
 Element which consider formulating strategic plans
 Effectiveness of techniques used by strategic business plans
 Conclusion
 References

Introduction
Business strategy is very crucial and important element of an
respective organisations which help to the company in achieving as
well as accomplishing their targets and objectives. This assist in the
impoverishing performance of all operations and intensify services
and their productivity which is already being survived. It is a long
term business planning perturbed with resources issues and both
profir and wealth maximisation depending on market structure and
growth.

Business missions, Visions, objectives and
core competencies
Mission:- The major mission of Tesco is to build values for there
customers for getting the Credibility and also create group of
potential purchasers .That has increased competitive advantage of
organisation in global market.
Vision :- The high quality products and services provide to their
customers so, they will make their stakeholders loyal to their specific
brands which help in developing organisations. They also emphasis
on maintaining ethical value which has further enhances value in
business environment

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Objectives :- The main aim of the company is profit maximizing by
increase the sales in the market places and through this action they
will settle up good reputation in business environment. They are
further planning to have wealth maximisation in longer run.
Goal :- Their main aim is to expand the business more so the various
customhouse from the different locality will get the benefit of their
products and adding values to products will enhance the selling of
products

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Core competencies :- This basically depicts the good services
and other specific speciality of the Tesco by getting the
advantages at large.
 Cost prices of products
 Self review
 Difficult to be challenged by competitors.
 Contribution for customer benefits

Element which consider formulating
strategic plans
 Before making strategies, Tesco basically need to cope up
with the threats and opportunities which is unpredictable in
future
 Various components which needed to be focus on the pricing
strategy of the products and their services settle them low.

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 Market is dynamic and there are various companies who
are in competition, their must be company who make
available good superior products which can also be the
reason of decrease in demands of services of products.
 They must also capitalise on carving out their weaknesse in
both internal and external factors.

Effectiveness of techniques used by
strategic business plans
BCG growth sharing matrix :- This techniques is
configured for the long term planning to help in the
development of the business through which they will get
more opportunities. It helps in identification of factors
and separate them on the basis on their productivity
which helps in better resource planning and its
effectiveness.

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Ansoff's Matrix :- It help to the Tesco for measuring and
overlook to their innovative concepts and commodities in the
company which is in market also gain more revenues and
sales. Through this practice they can do demand forecasting
and can increase services and product in target market they
can also enhance products selling by vigorous promotion and
branding techniques.

Conclusion
Accomplishment of the company is totally le on the stakeholders
which pay crucial role with various activities of the company.
They usually they objectives and which help them to catch up
the growth, development, improvisation and many more. It is
concluded that the making strategy is very crucial for the
company and for this they need various organised things
through which they will able to achieve their target by time
period.

References
 Scholes, M.S., 2015. Taxes and business strategy. Prentice
Hall.
 Bharadwaj, A., and et.al., 2013. Digital business strategy:
toward a next generation of insights.
 Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business
strategy: an introduction. Palgrave Macmillan.Parnell, J.A.,
2010. Strategic clarity, business strategy and performance.
Journal of Strategy and Management. 3(4). pp .304-324.

Thank You