STRATEGIC MANAGEMENT

Strategic Management

Strategic management

Introduction

It is being considered as the fashion of the modern times that an individual owns the status, wealth and own business. Lots and lots of businesses are seen launched every year while only few of them are seen managing their survival and maintaining their positions in the cutting edge rivalry and competition. These are the business strategies formulated and adopted by the business owners which maintain the success of a business organization. These strategies carry the operations of the organization in order to decide its success and failure.  The basic objective of this paper is to analyze an organization its current position and future prospects (Leathy, 2004, p.15).

Tesco is the third largest in the world and the largest retail chain of UK which employees more than 440,000 people across the globe. The company operates in around 13 markets with 280,000 in the UK. An average estimate indicates that there are over 30 million people who visit Tesco throughout the world every week. Tesco has proven to be one of those big organizations which have considered their operational strategies with incredible attention in order to cope with several business challenges and are able to gain competitive advantage. Amongst such strategies and tactics, is one of the distinctive known as the management module.

The management module of Tesco has received immediate and tremendous attention and focus and thus, everything at the organization is managed in a smooth manner (Martinell, 2003, pp.577-590). During the last year, Tesco's profits have increased by 20%, which takes the company to form and maintain a record in UK business by acquiring 2 billion. In this paper, we are taking an international organization that is Tesco U.K. Further we will discuss how Tesco has achieved greater performance in the past year, for this we will use applicable frameworks and models to evaluate critically the strategy of this company. Paper will ensure to clear, and identify Tesco's superior performance, through financial performance, competitive positioning, branding and value creation etc (Lindgreen & Hingley, 2003, pp. 328-349).

About Tesco Organization

The organizational structure of Tesco came into existence in the year 1919. The successful idea of Jack Cohen gave rise to such a gigantic and huge organization. The company is engaged in the retailing of general merchandise and grocery. In terms of gauging the company's position according to its revenues and profits, the company is regarded as the third largest retailer globally.

The U.K. Tesco's strategy for managing human resource of the organization revolve around challenging unwritten rules, work simplification, performance management linked to achieving steering-wheel targets and rolling out core skills to all head-office employees. This shows that how the business of the company closely related with performance management (Leathy, 2004, p.15).

Strategies that are making Tesco a success story

There are certain strategies, which have been implemented, in order to make Tesco gain and benefit from such an immense response by its customers. The strategies discussed below are the ones that other organizations can also apply and execute if they deal with such a large market in order ...