StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

BUSINESS STRATEGY - Coursework Example

Cite this document
Summary
Strategic planning is the process of envisioning a desired future, and transforming the visions into concrete objectives in order to achieve the future needs and expectations effectively. Strategic planning gives a vision of how certain goals are to be achieved within a given…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94% of users find it useful
BUSINESS STRATEGY
Read Text Preview

Extract of sample "BUSINESS STRATEGY"

Strategic Planning of Tesco By Location Introduction Strategic planning is the process of envisioning a desired future, and transforming the visions into concrete objectives in order to achieve the future needs and expectations effectively. Strategic planning gives a vision of how certain goals are to be achieved within a given period of time. It is a process that decides which markets are important to a company’s future as well as the effective means to reach those markets efficiently. Tesco is one of the biggest and multinational groups that uphold the loyalty policy to its customers, with a diverse advancement of its business into petrol, banking and telecommunication.

Currently, it has market shares in UK stock exchange with the name Tesco. This report provides an insight into the Tesco Company through the use of BCG matrix to know the current strategies of the company.The United Kingdom is currently a global business centre consisting of different races from all over the world. Due to the increased population, Tesco fulfils their demands by importing goods that are not available in the UK from other European countries. As a multinational company, Tesco has developed many supplier management mechanics so as to survey key suppliers and the satisfaction of the franchisee.

After a close internal analysis of the Tesco Company, it is observed that, goods importation is one of the Tesco’s imperative strengths as they are motivated by the allegory, “Pile it high and sell it cheap.” Tesco has a very good and established customer relation that never lets its brand down. The spectacular development of this Company is based on its ability to offer its customers various incentives through promotions. The efficiency of its products has greatly been developed by the product and development department, thus creating the desired customer relationship and satisfaction.

Notably, much of the company’s success has been based on its customer loyalty. Therefore, Tesco has a strategy to develop its business by setting its focus to improving its relationship with the consumers by proving them with credit card loans, insurance policies and saving schemes.Brand Image Strategy is one of the systematic plans of action that has vehemently propelled the development of Tesco Company. The company achieves this by using their own name in selling their quality products at relatively cheaper prices.

Its reputation is not only growing because of the cheaper products, but also because of its own products (Lamb, Hair,& McDaniel 2008, p.34). Tesco targets lower income earners by minimizing its cost of products which are on offer most of the time.Tesco as a company has its own ups and downs. The company’s overreliance on hypermarkets in its foreign operations rather than the online operations as has led to an economic dropdown in its financial statements (McLoughlin&Aaker2010, p.67). Following competitions from companies such as Sky and Amazon, Tesco has been considered as pulling back in the areas of electronics good sales.

Although Tesco is considered a sort of constrained convenience, some of its business models leave its customers poor and the economy less resilient (Corbae, Jensen, & Schneider 2006, p.89).BCG Matrix BCG analysisCash cowsAlthough Tesco has a marketplace of close to 30% in the high street shops well stocked with fresh produce, groceries and fashion, this can be regarded as cash cows. This is because the growth in that section has been very weak.Star Notably, the company’s online operations can be regarded as a star, for example, computer games and financial products.

This is because Tesco is the largest online grocer in the United Kingdom market (Agnihotri& Rapp 2010, p.78). Therefore, it is advisable that Tesco utilizes the profits to develop the online businesses. Question marksTesco’s question marks include Blink-box and this is because the company is facing a stiff competition Netflix and Sky and the fact that the mobile services and the insurance services are not yet developed. Therefore, Tesco will require developing this level into a star by deciding on an appropriate investment.

DogsIn addition, the Tesco’s US operations in Sauser crisps and packaging is a dog as it has a small market share and operates in a low growth market. Tesco may be required to pull out of this business.ConclusionTesco is a focused company that has enjoyed long term success. Their constant core visions and strategic practices that have well adapted to the changing world have placed them in a very strong business position. In this competitive global environment, a very clear strategic planning within the company has maintained their fine financial tracks and a good vision that has maintained their survival in the industry.

Tesco is a company that is built around customers and its strategies have the company achieve its vision. The company’s famous motto is, “Every little helps” and has been used to change the mindset of its consumers. It has helped the company to retain its business hierarchy for a long time.BibliographyAgnihotri, R., & Rapp, AA 2010, Effective sales force automation and customer relationship: a focus on selection and implementation, New York, Business Expert Press.Corbae, G., Jensen, J. B.

, & Schneider, D 2006, Marketing 2.0: strategies for closer customer relationships, Berlin [u.a.], Springer.Lamb, C. W., Hair, J. F., & McDaniel, CD 2008, Marketing, Mason, OH, Thomson/South-Western.McLoughlin, D., &Aaker, DA 2010, Strategic market management: global perspectives, Hoboken, N.J., Wiley.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“BUSINESS STRATEGY Coursework Example | Topics and Well Written Essays - 500 words”, n.d.)
BUSINESS STRATEGY Coursework Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/business/1640850-business-strategy
(BUSINESS STRATEGY Coursework Example | Topics and Well Written Essays - 500 Words)
BUSINESS STRATEGY Coursework Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/business/1640850-business-strategy.
“BUSINESS STRATEGY Coursework Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/business/1640850-business-strategy.
  • Cited: 0 times

CHECK THESE SAMPLES OF BUSINESS STRATEGY

Business Strategy in Tesco

In the paper “BUSINESS STRATEGY in Tesco” the author analyzes business strategies implemented by Tesco at different levels of its management process in different business areas.... Whereas the mission of the firm is the business where the company wants to operate and the customer base the firm will serve.... ) Stakeholder AnalysisThe sustainable growth and well governed business policies of Tesco gives the belief to the investors to get a competitive return of their investments and their shareholdings....
17 Pages (4250 words) Essay

Nokias business strategy

Thereafter started the success story of Nokia and its strategy of innovation and patenting knowledge which became the mainstay of its leadership phenomena.... In competitive business environment firms must be innovative and service oriented.... Nokia was able to align its strategic action plans with its business goals to succeed in the highly competitive market.... It promotes dynamic business strategies that continuously strive to identify critical factors and innovate to meet their challenges....
9 Pages (2250 words) Coursework

Business Strategy in Transport

Modern day airline industry follows low cost strategy so as to provide an alternative to the price sensitive clients which evolved during the period of crisis during 2000 followed by 9/11 strike by terrorist and Iraq war (Cento, 2008).... Traveling for business meetings, vacations, and other visits have become common in todays globalized for which there are numerous airlines offering their services throughout the year.... Therefore entering into the market, the business entrepreneur must analyze the market situation, identifying the routes to operate and airports, main business centre, reaching time, etc....
7 Pages (1750 words) Essay

Sylvia's Bar Business Strategy

The purpose of this paper is to analyze the Sylvia's Bar BUSINESS STRATEGY.... All organisations have a BUSINESS STRATEGY for success.... The BUSINESS STRATEGY of the organization revolves around making money as well as increasing profits of the organization.... Initially, the bar was doing good business but gradually its profits started dwindling....
7 Pages (1750 words) Case Study

Business Strategy for Nucleon

In the essay “BUSINESS STRATEGY for Nucleon” the author tries to answer the question whether Nucleon should consider vertical integration by operating its own pilot plant or whether, in view of the largest financial outlay, it should contract or license out the operations....
4 Pages (1000 words) Essay

International Business Strategy

The details provided in the research illustrates that the project went through different phases under which the company has to cater different stakeholders in order to ensure that the project goes ahead as planned.... hellip; This therefore required a greater flexibility as well as determination in the negotiation process in order to ensure that This paper illustrates that Shell has not been successful in ensuring that its stakes are completely secured....
3 Pages (750 words) Essay

Strategic Management

According to the Porter's generic strategies, the existing strategy of the company is differentiation, and BCG Matrix suggests that the FedEx Express and Ground are the stars for the company, where the Express will soon be the cash cow.... The strategy implementation issues and risks associated with these strategies are also identified, such as disapproval from top management, labor union pressures, and business disruption.... It is involved in the shipping business and a portfolio of segments, such as FedEx Express, Ground, Freight, and Services....
18 Pages (4500 words) Essay

Business Strategy of Toyota

The study "BUSINESS STRATEGY of Toyota" presents the competitive analysis within the Porter five forces model reveals that Toyota enjoys relatively better competitiveness.... hellip; A strategy is generally seen as how management decides and plans various alternative paths in order to achieve its objectives.... Johnson and Scholes define strategy as “the direction and scope of an organization over the long term which achieves advantage for the organization through its configuration of resources within a changing environment and to fulfill stakeholder expectations” (Johnson and Scholes, 2002, p....
7 Pages (1750 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us