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The Importance of the Various Internal As Well As External Environmental Factors of Tesco in Determining Its Strategies - Essay Example

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The discussion will aim to reveal the importance of the various internal as well as external environmental factors of Tesco in determining its strategies as well as in improving its business operational efficiencies creating a strong impact on its core elements of strategic management…
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The Importance of the Various Internal As Well As External Environmental Factors of Tesco in Determining Its Strategies
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"The Importance of the Various Internal As Well As External Environmental Factors of Tesco in Determining Its Strategies"

Download file to see previous pages The researcher states that the principal objectives of Tesco plc have been centralized towards serving the customers with better satisfaction as well as with the motive of developing the communities where the company is operational. Moreover, the company also seeks that the employees, customers as well as shareholders are treated in a fair manner and with loyalty. Contextually, it can be stated that strategic positioning or the company, along with its available strategic choices and strategy in action plays a vital role to determine its competencies in the targeted market. Based on this perspective, the discussion henceforth will emphasize on the strategic position, strategic choices and strategy in action as the core elements of strategic management in Tesco. Hence, the discussion will aim to reveal the importance of the various internal as well as external environmental factors of Tesco in determining its strategies as well as in improving its business operational efficiencies creating a strong impact on its core elements of strategic management. In this regard, it can also be argued that the company has been facilitated with positive political support. Economic factors have also been significant considerations for Tesco imposing a direct impact on the demand for its products and/or services, pricing structures, costs incurred and profits obtained by the company. It is in this context that Tesco has been responding well towards the global economic fluctuations in order to perform its business operations with greater profitability, targeting the rapidly developing customer groups and also by offering competitive pricing benefits as per the convenience of the customers in the worldwide periphery. Additionally, when operating in the global market, Tesco has to comply with a diverse range of customer preferences owing to the prevalence of distinct cultural dimensions. Hence, it often becomes a challenge for the company to function with equal competencies in every sphere of its global market constituting its social environment. Perhaps, it has been influenced by this particular factor that Tesco has been performing significantly better than compared to its performances in the global marketplace. Similarly, when concentrating on technological factors, a country with more advanced technology is likely to assist the company in performing its business operations in an effective manner. It is in this context that Tesco has been facilitated with technology advancements in the UK while it had to witness significant competition in integrating technology within the global platform. Environmental factors can also be observed to have a significant influence on the effective strategic performances of Tesco. ...Download file to see next pagesRead More
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