STRATEGIC MANAGEMENT

Strategic Management

Strategic Management

Introduction

The two most important factors for the success of Tesco that is to act in response to the demands of customers and learn from the past mistakes through offering quality products at low prices to local people, first in the way they conduct their business as their main strategy.The relative position of market share to Tesco cherishing class players in the market has shown to be pursued. The British supermarket company Tesco is now the fourth largest retailer in the world, employing 450,000 people and has a growth rate of 13% annually. The company aims to various market segments with separate bids for each of the targets. Tesco is aimed primarily at consumers living in urban and suburban areas, as well as consumers living outside the city or suburban area. Tesco Metro stores modern design stores for consumers who live in urban areas, especially public officials who want to buy food or go shopping on the way home. These stores are located in the center of the city and provide customers with quality products. They got benefit over competitors profited by proposing consumers larger value in respect to the strategic performance management, either via smaller charges or by supplying larger advantages and service that supports higher prices.

Discussion

Tesco achieve the superior performance through the change management in the organization. In this report we will identify the key change by analyzing frameworks and models to appraise critically the strategy of Tesco.

Company's Strategy

The strategy of organization is a systemic concept which is made up of fundamental parts which are in parallel distinguishable but which together forms better and new strategy which eventually affect the entire organization in terms of efficiency and effectiveness of the organizational productivity.

Change Management

Managing change is possible only if some specific principles are being followed. Here is information about the basic principles that need to be aware of all managers and leaders:

Different people react differently on the proposed changes

Everyone has basic needs that must be considered

The change may result in the loss of both, business leaders must be bold to accept

Expectations must be managed realistically

Courage to face fears

The organization must know how these principles are applied in the management of change.

You can deal with the different behaviors of the persons concerned by proper communication beforehand. Be open and honest about providing the facts. Avoid being too optimistic. Satisfy your need for openness, but in a way that you cannot create unrealistic expectations.

Have a communication strategy for large groups of people who make the necessary information efficiently and full disclosure to all people. It tells the story of change around the world at the same time. You can also arrange individual meetings for strategies to cope. This will help leaders to deal with individual behaviors. (Laudon and Kenneth, 2009)

Give people choice to make between proposed changes and be very honest about the consequences.

Give people time to express their opinions and support their ...