Strategic Management



Executive Summary

This paper focuses on the discussion of the strategic management of Tesco. Tesco puts special focus and emphasis on the development and implementation of effective strategies, in order to succees in this globalised world. Furthermore, it is also aware of the fact that change has become a necessary part of functioning in this globalised world. This is because of the fact that, in today's world, people have numerous options regarding the purchase of a product or a service. Hence, Tesco has adopted an environment that puts emphasis on the employees to bring about a change in the overall functioning of the organisation. It also realizes the importance of innovation, which is the core aspect of change. Therefore, Tesco has always devoted itself in bringing innovation in their business. This paper highlights the different strategies that Tesco has adopted in its business structure, in order to success in this globalised world. One of the such strategy is innovation, which is an essential part of its organisations functioning process.

Strategic Management

Introduction

An organisation cannot succeed in this competitive world without developing and managing its strategies in the long rung. Tesco is a retail outlet in UK that focuses on the development and impaction of effective strategies. Furthermore, it is aware of the fact that in this globalised world, people have many alternatives for a product or a service. Therefore, Tesco puts focus on an environment that promotes changes in it. Innovation is core aspect of change (Datamonitor, 4-27). Innovation is an essential element for any organization in order to survive, grow and significantly influence the direction of any industry. Development does not; however, guarantee success, but most be followed up with successive streams of innovation and change, from the incremental to the radical. The most reliable way to be successful in the industry is to innovate better and longer than the competitor, leading companies develops innovation portfolios that they can use to help sustain growth over the long term. Innovation and change is an essential part of any business activity, but only some people recognize its importance and significance (Datamonitor, 4-27).

History of Tesco

Tesco, the largest retail chain of UK and third largest chain in the world employing around 440,000 people in 13 markets with around 280,000 in the UK. On an average over 30 million people visit Tesco throughout the world every week. Tesco is one of such organisations that have given tremendous attention to its strategies to cope with all kind of challenges and to gain competitive advantage (Datamonitor, 4-27). Tesco places immense attention to this step of value delivery process, and establishes itself as a brand that is the symbol of reliability.

Tesco plc is a grocery and general consumer goods retailer outlet with global reach. Tesco has its headquarters in UK and it enjoys the status of being the 3rd largest retailer in the world in terms of revenue and 2nd biggest in terms of profits. Tesco has stores in more than 14 countries of the ...