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Tesco PLC Strategic Planing and Expansion Process

Business Strategy

It is vital to note that a comparison of Tesco with its competitors denotes that the company enjoys high customer satisfaction as compared to the other companies selling the same products and services. An indication of the company’s success is that it has shown considerable service and product delivery to its clients. In addition, to its employees they enjoy a better motivation. This is a competitive advantage.  Tesco is a leading MNC grocery in the world. It has various stores around the world especially in Europe and United States. Currently, the company has expanded in China and Africa as well.  Since Tesco is planning to expand international to other remote areas, this calls for alternative business strategies. With respect to this, this paper highlights several business strategies that ought to be adopted so that the expansion process could be a success.

Tesco PLC Strategic Planing and Expansion Process

Task 1: Process of Strategic Planning

1.1 An Assessment on How The Business Mission, Vision, Objectives, Goals and Core Competencies Might Inform The Strategic Planning in Tesco PLC

For a company of high Status such as Tesco to proper in the market, it has to have a distinct strategic plan. Strategic plan is generated from a strategic planning process. This is a process that governs an organization’s resource allocation, strategy development and organization direction. In order to attain or meet the desired organizational goals and objectives the process has to be reliable and elaborate. To foster the direction the organization takes, the past, current and future prospects of the firm or company has to pinned. There are various factors that denotes a good strategic plan.  The following are the factors:

 Mission

This is considered as a cite map for an organization. The mission statement explains the reasons why the company exists and what it has to do to foster its success. The mission statement is vital because it motivates the employees of Tesco to work together in meeting the organizations goals and aims. The mission statement must be aligned to the firms operations. The mission of Tesco is to be a leading firm in grocery service and products. Its directs the Tesco on the best strategic plan to adopt

Vision

This is considered as an outline of an organization. It explains the upcoming intentions of the business.  The vision statement is aligned to both short and long-term Tesco’s goals. The vision statement of Tesco is to be a leading grocery store in the world in eliminating extended product and service delivery.

Goals

This is something desired by man, and it is also the specific target or end results. This is the main step towards attaining an organizations target. Goal is the destination of an organization, and it is the planning to attain a target. The management is the one responsible for the development of a goal so does the other employees in an organization. In the same view, Tesco is there to meet its goals do it has well-developed goals that are used as operational directive of the business (Elms, Brammer, Harris & Phillips, 2010). For example, Tesco has several goals such as:

  1. To be the leader in online supermarket in the world
  2. To increase its customer base to desired level in the market
  3. To have a good relationship with all its customers and stakeholders

It is likewise vital to employees’ personal goals to be attained as this acts as a driver towards attainment of organizational goals.

Objectives

In most cases there exist similarities between the objectives and goals of a firm. This is because the aims and the objectives in most cases look alike in meaning and content towards the success of the organization. An objective is considered as an evaluation of a company’s progress or success; it is vital in reaching the target of the company. On the other hand goals are systems designed to determine the endmost value of an organization. The ideals based on the difference between the objectives of Tesco is a business strategy.  The competitors are not able to adhere to these objective hence why Tesco remains the kingpin in their market. The below are Tesco’s objectives:

  1. To expand its customer base
  2. To ensure customer satisfaction
  3. To use contemporary motivational strategies in making sure its employees are retained and satisfied with their Jobs
  4. To create a green environment and a sustainable business finances

The main grounds that underlays Tesco’s business objectives is sustainable strategic development. This assists Tesco in maintaining a sustainable strategic plan aimed at overseeing the financial and customer strength.

Core Competencies

The core competencies of Tesco is one its source of business success. It offers the company a competitive advantage over the others in the business market that comprises of various competitors (Hamilton & Nickerson, 2003). For instance Tesco’s core competencies are customer satisfaction and sale acquisition. This has helped the company over the years to strategize its objectives and goals as well meet its strategic plans. However, from time to time the company has been updating its core competencies because of changes in technology and business culture.

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