Business Strategy in Tesco - Essay Example

Download file to see previous pages... Vision depicts what the company wants to be i.e. what it ultimately wants to achieve and it gives the direct to the firm. Whereas the mission of the firm is the business where the company wants to operate and the customer base the firm will serve. These are the foundation stone of the company according to which the company implement its different strategies.Core competence is the competitive advantages that a company posses to differentiate itself from the competitors which gives them an extra edge to be the market leader (Hitt, Ireland, Hoskisson, 2009, p. 18).The core value of Tesco is to take care of the customers. Earning lifetime loyalty of the customer and to create value for the customer is their only value (Nwagbara, 2011, p.62). The company believes that no one in the industry tries as harder as they do to reach to the customers (Polytechnic Institute of New York University, 2011, p. 1). Being responsible to the community and the society in which they operate they always try to maintain good neighbourhood and always try to be a responsible member in the society. The brand image for its great quality products with diversified product line is the core competencies for the firm.b) 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. The main reason behind gaining the trust of the shareholders is due to the transparency in the company operation. and they expect the implementation of robust strategies by the company in every business processes for the long term growth of the organization along with the shareholders. Blackrock Inc with its 5.48 % share of the issued share capital, Legal & General Investment Management Limited with 3.99 % and Berkshire Hathaway with about 3.02 % of the total share is the major share holders of Tesco (Tesco Annual Report and Financial Statements 2011, 2011, p. 58). By maintaining quality service and increased customer value the company build its band value and continues its rapid growth in the market by benefiting the stakeholders of the ...Download file to see next pagesRead More