TESCO

Strategic Management - Tesco Supermarket Group

Executive summary of the report

The strategic management has significant impact upon the business processes of the companies. There are certain important steps in the strategic management process. The companies are required to carry out each step effectively so as to have the efficient strategic management that directly affects the profitability of the company. In this paper it has been told that what is the significant importance of the strategic management, how the strategic management process is carried out and what benefits of strategic management are. The strategic management analysis is carried out of the Tesco Supermarket Group in which the SWOT analysis and the PEST analysis are conducted and the analysis is also made by using the porter's five forces model. The purpose of this report is know how the giant company, Tesco Supermarket Group, is efficiently managing its business operations with the help of strategic management.

Table of Contents

Introduction3

Introduction to the report4

Introduction to Tesco Supermarket Group4

Discussion5

Strategic management and its purpose5

Benefits of strategic management to the companies5

Aspects of strategy implementation on the strategic management of the companies6

Strategic management process8

The goal setting8

Careful analysis of the company's goals and the company's resources8

The formulation of strategy9

The implementation of strategy9

The evaluation of strategy10

SWOT analysis of Tesco supermarket group10

Strengths of Tesco11

Weaknesses of Tesco12

Opportunities to Tesco12

Threats to Tesco13

PEST analysis of Tesco supermarket group13

Political factors14

Economical factors14

Social factors15

Technological factors15

Analysis of Porter's five forces competition model on the Tesco supermarket group16

Threat of new entrants to a market16

Threat of substitute products17

Bargaining power of customers17

Bargaining power of suppliers17

Degree of competitive rivalry18

Conclusion18

References19

Strategic Management - Tesco Supermarket Group

Introduction

In today's fast pace of competition, the importance of management aspects has increased. With the increase in globalization, the competition has also increased around the world. The emerging new companies and organizations give tough challenges and competitive situation to the existing companies. In order to retain the competitive position and to sustain in the market, the organizations are required to develop the strategic approaches as well as strategies. The efficient and effective strategic approaches assist the companies to carry out the business processes in an effective manner that further provides the companies with ultimate success, growth, profitability as well as competitive position in the market (Allen C. Amason, 2010, pp. 16).

The strategic management of the business operations of the companies has significant importance as this has direct and indirect impact upon the profitability and the success of the companies (Charles W. L. and Gareth R., 2012, pp. 375). The strategic management depends upon the ranging sizes of the companies. It also depends upon the types of industries in which the companies operate. The companies develop their business strategic management approaches according to the nature of business as well as according to the changing external environment in which the companies operate. It is very essential to understand the importance of strategic management. The success or the failure if the companies depend upon the way the companies manages its business operation. Therefore, the business companies are required to develop and effective strategic management ...