Stratagy

Topics: Strategic planning, Strategic management, Strategy Pages: 17 (3544 words) Published: April 15, 2015
Fairfield School of Business
Strategic Planning
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Table of Contents
1.1Strategic Context of Terminology2
1.2Strategic Planning Of Organization3
1.3Two Different Planning Techniques4
2.1Organization Audit of Tesco6
2.2Environmental Audit of Tesco7
2.3Explain the significance of Stakeholder Analysis8
3.1Possible Future Strategy9
3.2Selecting appropriate future strategy11
4.1Comparing Role of Strategic Implementation12
4.2Managing Resource Requirement13
4.3Targets and Time line Achievements14
5References15

Introduction
Tesco Plc is the leading retailer in UK holding over 27 % market share. The company has aggressively increased its presence on high street through different store formats type and brings products for everyone. The company has increased its profitability through online selling and making tesco.com a first stop shop for online retailers. The company is holding largest consumer database through its “club card” card scheme which offers discounts on a point based system to consumer. .1 Companies Strategic context

Mission
The corporate mission is a collective statement of purpose that the company wants to achieve. It provides a direction to the staff to target their efforts for a common goal. The mission statement of Tesco is. “We make what matters better, together”. Vision

The vision of the company is what it like to become in future. “A vision is the long-term aspiration of the founder that can be described to colleagues” (Richard Koch 1997). The Tesco vision statement is” to be the most highly valued business by the customers we serve, the communities in which we operate our loyal an committed colleagues and course, our shareholders”. Goals

The goals of the organization make its people to work harder to achieve the defined goals. Financial goals are most commonly observed in most organizations. The goals make the organization set a part form the other companies who look to achieve better results. The main goals of Tesco include the customer satisfaction which enables every employee in the company to provide excellent customer experience in store. Another important goal that organization follows is increasing its product portfolio. This goal make the company to increase its brands including own brands for customer including food and non-food products.

Corporate objectives
The corporate goals of the company are the strategic goals which are set at the top by the higher management. The corporate objectives of the company include higher level goals which are important for the business. Tesco Plc has following corporate objectives Profit Maximization

Growth
Image building and goodwill
Market Reputation
Core Competency
The core competency of a company is its distinct expertise and capability to do a particular task better than others. This ability of the company stand it out from other in the competition and make way for better business for the company. The competency on the company can be in any particular function which makes the company to work better. Tesco enjoys economies of scale in many business domains which makes it’s the first choice for customers. The company has competency through its bulk buying capacity and to ensure better management of resources. .2 Strategic Planning problems

Strategic Planning
The strategic planning is a process which identifies and evaluate the efficiency of long term goals. In include assessment of internal capability and external environmental scan. The process looks in detailed the factors relating to long term sustainability in a uncontrolled organization environment. The strategic planning process ensure its development, implementation, and evaluation through out the organization. Planning Problems

Lack of Commitment
The level of commitment by the managerial staff and those who are involved in implementation can create problems...

References: unknown. (2014). strategic planning. Available: http://searchcio.techtarget.com/definition/strategic-planning. Last accessed 12 Jan 2014.
http://www.forbes.com/sites/aileron/2011/11/30/10-reasons-why-strategic-plans-fail/
http://www.studymode.com/essays/Stakeholder-Mapping-486705.html
http://businesscasestudies.co.uk/jessops/responding-to-changes-in-the-market-environment/introduction.html#axzz2t7ctgbNd
http://www.dineshbakshi.com/igcse-business-studies/external-environment/revision-notes/63-external-environment-factors
http://www.customer-insight.co.uk/article/874
internal auditing. 2006. types of audit. [ONLINE] Available at: http://daf.csulb.edu/offices/univ_svcs/internalauditing/audits.html. [Accessed 15 Feb 14].
mind tools. 2007. stakeholder analysis. [ONLINE] Available at: http://www.mindtools.com/pages/article/newPPM_07.htm. [Accessed 15 Feb 14].
ehow money. 2009. advantage of substantive growth. [ONLINE] Available at:http://www.ehow.com/info_7759598_advantages-substantive-growth-business-strategies.html. [Accessed 15 Feb 14].
management study guide. 2005. strategy implementation. [ONLINE] Available at:http://www.managementstudyguide.com/strategy-implementation.htm. [Accessed 15 Feb 2014].
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