STRATEGIC MANAGEMENT

Strategic Management Individual

Strategic Management Individual

Introduction

Globalization is the situation resulting from the evolution and development of communications and information technology and the abolition of borders and boundaries between countries in the Evolution of Communication and Information Kalonturnat the partners make the man able to turn in all the world knows what and when, without being watched by the state. In this paper, we are going to choose a company having global operations. We have to conduct strategic analysis considering the history of the organization with the use of particular critical incidents in the life of the organization. Some of the main strategic decisions are to be made in order to achieve its strategic goal. In the end, we have to consider some of the implementation challenges likely to be faced in the market.

Company overview

Today it is the third largest global retailer based on revenue, behind Wal-Mart and French Carrefour, but the second largest based on profit, ahead of Carrefour. In 1919, Tesco Plc was established by Jack Cohen, by utilizing the bonus which he achieved for his services in the World War I army. Then in 1924, he purchased a tea consignment from the company TE Stock well. He decided to put the initial three alphabets of TE Stock well, and the initials of his name Cohen collectively to name his brand 'Tesco' (Lofthouse, 2001). In 1929, Cohen opened the very first Tesco store in Edgware, London. Originally, Cohen's formulated the strategy of "Piling it high, selling it cheap". Despite the fact that this strategy assisted Tesco in attracting a great amount of consumers, it also assisted Tesco in branding itself as a store for average class consumers and even earned an image as a low-end store. Furthermore, Tesco had small and poorly equipped stores, as well. The only competitive edge Tesco had been the price. The products that were available at the store seemed to be of ordinary, due to the rise in the income of customers in Britain, the customers did not want to look for bargains. They were now seeking high quality products. In order to cater these changing demands of the customer, Tesco decided to close down its numerous stores to focus on superstores to provide improved quality. Tesco offers some of the most comprehensive customer based customizations. Tesco has strategically entered into all the niches that exist in localities and communities (Easterbrook, 2004).

Tesco has marketed itself as a store that caters to every need in the most efficient and the best way. In this regard, Tesco has its wings in almost all areas where customers are present, which may be offices, markets etc. Tesco will be sourcing products that are common in all countries together as a group. Each country will retain the responsibility of identifying the local needs of their customers and sourcing those products from the appropriate suppliers within their respected country, this fact shows how Tesco attempts to break the international barriers in its relentless pursuit to come at par with ...