All corporations have to work at expanding themselves within the region as well as internationally. They have to work at framing and adapting different strategies in order to reach optimum success. This report analyzes the external environment and scans it thoroughly so that strategies can be implemented and adopted later on.
Tesco is a company that originated from the UK, but has now expanded globally. Starting from Hertfordshire, it is now operating within Asia, Europe as well as USA. Back in the year 2012, Tesco had 2975 stores within the United Kingdom which brought in a revenue of 64.5 billion pounds per annum. By 2014, these stores have expanded within 14 countries with 6531 stores. Tesco also offers other services like insurance, online shopping and banking.
Vision and Core Values
The vision of the organization is the addition of an important position in the minds of the clients they serve, community altogether, keen and steadfast staff and the shareholders. The organization 's visions is to develop and change themselves into a creative and present day association through applying their aptitudes all internationally.
The core value of Tesco is to expand its retail organization which would help to convey the organization 's core purpose. In addition, the organization lives up to expectations devotedly to win client 's faithfulness and to make brand value.
2.0 Strategic Position
With a large number of stores, Tesco ranks amongst the global giants. The principle of strategy of Tesco and their strategic position is the design of the shareholder value with the help of focus and innovation upon the customer satisfaction. Their strategic position is based on their seven principle theory which includes:
Nurturing business primarily within the entire United Kingdom
Achieving strengths in all departments
Retailing all over the world successfully
Serving the society with premium advantages
Defining values and purposes with the help
References: Charles W.L. Hill and Gareth R. Jones. (2012). Theory of strategic management with cases. Eighth edition Datamonitor (2011). Competition in the retail industry. Available at <http://www.datamonitor.com/store/Product/tesco_plc?productid=34972414-9A41-4048-A7B6-1B0017054743> Euromonitor, (2013). “Tesco in the Retail Industry”. Available at <http://www.euromonitor.com/retailing-in-the-united-kingdom/report> Fame (2010), Annual Reports Analysis – Tesco plc, FAME International