Tesco was chosen as a company which would be used in our analysis covering evaluation of different factors. Tesco is the one of the largest retail chain in the world. Their profit surpasses 3 billion euro each year. In the first phase, Tesco’s mission, vision, objectives and goals were discussed. Due to recent profit slump they were trying to implement new possible strategies to gain the profitable condition back. Different strategic planning were also talked over. Organizations have to operate their business being in the environmental factors. Tesco also operates in both macro and micro environmental factors. These factors were well discussed. And after evaluating the environmental factors, SWOT analysis was done. Stakeholders are a very important part of organization. They help the organization to build up their own brand value and goodwill. And many other parties are also related to business as stakeholders. The expectations and influences of the stakeholders were also described. They have both positive and negative impact on the organization. And to improve their condition from current loss, they have to formulate new strategies. Different appropriate strategies were suggested too for both present and future use. To successfully implement those strategies, good leadership is needed. Different Roles and responsibilities for also talked over for leading Tesco to their desired goals. Different resources that are needed for implementing strategies, are given also. If they are followed in a regular basis, Tesco will surely reach its goal.
In retail business more and more companies are coming ahead. It is creating more completion. So, managers are very aware of it. They are already facing many threats from this newcomers in business. Old and existing business are warned with decline in sales and market share. It is quite an alarming situation. In this context, an organization is needed to be chosen, Tesco would be the desired company. We will take the information of Tesco and analyze the current situation, strategies and position of Tesco. This essay will evaluate the resource capability and strategic analysis of TESCO.
PART – A
TESCO - Company Profile
Jack Cohen founded Tesco in 1919. It is a British food and grocery retail chain operating its business internationally in 12 countries. This is one of the largest Company in UK currently operating in market. They have around 30% market share in UK market. In profit making, they are the third largest retail chain in the world. Their head office is situated in Hertfordshire in UK. At present, Dave Lewis is acting as CEO of Tesco. Though Tesco is a profitable company, they recorded their worst performance in 2014. In the month of June 2014, Tesco confirmed their worst performance. They had 3.7% decrease in sales. Till November, they completed £70.9 billion group sale. They also earned £2.3 billion profit before tax. At this moment they have almost 7,599 stores comprising franchises. Over 500,000+ staffs are employed in Tesco all over the world. In UK, they got 3,461 shops comprising franchises and around 310,000+ staffs are working currently. Vision and Mission
A vision is called an ambition of a business where they want to see themselves in an ideal position. It is the benchmark of achieving business goals. The vision of Tesco drives the entire organization towards the strategic decision is taken. Tesco’s vision has five features. They are given here – •
wanted and needed around the world
A growing business, full of opportunities
Modern, innovative and full of ideas
Winners locally whilst applying our skills globally
Inspiring, earning trust and loyalty from customers, our colleagues and communities. The vision and mission of Tesco are interconnected with each other. Tesco’s’ mission is simple. ‘We make what matters better, together.’ This exhibits the changed perceived value of people about the disbelief towards the system...
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