BUSINESS

Business Health Check

Business Health Check

Introduction

In today's fast pace of competition, the importance of strategic business management has increased for the organisations. The organisations are required to conduct the business health checks so as to track the inefficiency and ineffectiveness in the strategic management of the business operations (Satyal, G. V., 2009, pp. 54). The business health checks on the timely basis allow the organisations to improve the business process and to develop the enhanced business strategic management so as to achieve the competitive position among the competitors in the industry. The strategic business health checks have major impact upon the management and the business processes of the organisations. In strategic business health checks processes; there are various essential steps that are required to be taken by the managers and leaders of the organisations. It provides the framework and the basis to the managers upon which they can carry out their business activities and provide the organisations with the ultimate success and growth (Johnson, S., 2009, pp. 96). The managers and the leaders are required to carry out each step effectively so that they can achieve their desired goals and objectives that can have ultimate impact upon the success, growth and profitability of the organisation. The evaluation of the strategic decisions is made on the basis of business health checks considering the desired business goals and objectives (Nicholas, D. E., 2002, pp. 75). The development of the strategic business health checks management approaches requires the careful consideration of the business goals, objectives as well the capabilities of the organisations. The strategic approaches are required to be in aligning with that of the missions and objectives of the organisation. In today's era of modernization and competition, one of the reasons behind the successful organisations is the strategic management that they follow in their business operations (Naoum, S., 2001, pp. 24).

Introduction to the selected organisation - Tesco

Tesco is a well known UK based organisation that is operating in the retailing industry since many years. The organisation was established in the year 1919. After the giant organisation Wal Mart, the organisation is considered as the third largest retailing organisation across the world that is generating high level of revenues. The organisation is also considered as the second largest organisation that generating high level of profits. The organisation is involved in the selling of about 40,000 food products as well as the products related to the clothing and other non-food lines.

Discussion

Task 1

1. Explain the mission, vision, objectives and values, goals of your organization and further state where your organization stands in terms of its achievements?

Vision of Tesco

The vision statement states the clear direction of the organisation (Bruce B., 2008, pp. 116). The Tesco is organisation that is focused towards the customers, the valued stakeholders and the high quality assets around the world and multiple opportunities for growth. It is the vision of the Tesco to be the most highly valued business in the areas where it operates its ...