TESCO

Tesco

Strategic Performance -Tesco

Introduction

The two most important factors for the success of Tesco are to respond to the customers' demands and learning from the past mistakes. Offering quality products at low prices and put local people first in the way they conduct their business as their main strategy. The relative positioning of Tesco's market share with esteem to other premier players in the market has been showed as pursues. The British supermarket company Tesco is now the fourth largest retail chain in the world, employing 450 000 people and has a growth rate of 13% annually. The company targets several market segments with separate offers for each of the goals. Tesco targets mainly consumers living in urban and suburban areas, as well as consumers living outside the city or area in suburban locations. Tesco Metro stores modern shops designed for consumers living in urban areas, especially civil servants who want to buy lunch or go shopping on the way home. These stores are located in the city center and offers products to customers of quality. 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.

Mission and Vision

We talk about Every Little Helps a lot, but it's not just a catchphrase or marketing slogan, it represents everything we stand for. For our people and our customers, it's how we run our businesses from China to Chorley.

Discussion

Organizational strategy is a systemic concept, made up of essential parts which are independently distinguishable but which together forms a new and better strategy which ultimately affect the whole organization in terms of efficiency and effectiveness of the organizational productivity. (Hamel & Prahalad, 1994)

Basic Principles for Change Management

Change management is only possible if some specific principles are being followed. Here is information about basic principles that must be in knowledge of all managers and leaders:

Different people will react differently on proposed changes

Everyone has fundamental needs that should be considered

Change may result in loss therefore business leaders should be courageous to accept it

Expectations need to be managed realistically

Courage to deal with fears

The organization should know how these principles will be applied in change management.

You can deal with different behaviors of concerned people by proper communication beforehand. Be open and honest about providing facts. Avoid being overoptimistic. Meet their openness needs but in way that they may not set unrealistic expectations.

Make a communication strategy for large groups of people that ensure necessary information is efficiently and comprehensively disseminated to all people. Tell the story of change to everyone at same time. You can also arrange individual meetings to make strategies to deal with it. This will help leaders in dealing with individual behaviors. (Laudon and Kenneth, 2009)

Give people a choice to make among proposed changes and be very honest about consequences.

Give people time to express their reviews and support their decision making.

Identify chances of losses. Define ways to replace the ...