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Advances in Strategic Management - Essay Example

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Summary
Strategy is a combination of four major things, i.e. perspective, position, plan and pattern (Mintzberg, et.al, 2002). Strategy normally in simple terms is a web of thoughts, insights, and ideas,…
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Advances in Strategic Management
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Advances in Strategic Management

Download file to see previous pages... The paper focuses on the major strategic issues that the company faces and also focuses on the problems that the company faces due to the strategic issues. Based on the previous history of the company and the current position of the company, a detailed analysis has been drawn out based on the various strategic models and theories. This helps in developing possible resolutions for the issues and also permits developing the possible challenges that the company might face due to the issues. The paper on the whole provides a clear and detailed analysis of Tesco Plc. and a thorough discussion of the strategic issues that the company currently faces. The next section will deal with a brief overview of the company and will discuss a little of the history of Tesco and the current position of the company.
Tesco capitalized on this demand through a stock market flotation in 1947. This gave the company access to significant amounts of capital, which it used to rapidly buy up rival stores, removing the competition and also giving itself economies of scale to help dominate its market (Kotler and Keller, 2006). This acquisition based growth continued into the 1970s, when Tesco began strategically constructing new stores in an attempt to completely cover the UK. As part of this, Tesco also began to diversify, opening its first petrol station in 1974 and expanding into various non food operations. Founded in 1924, Tesco has indeed come a long way since its first-opened store in Burnt Oak, Edgware. Today, 79 years after it was founded by Sir Jack Cohen, TESCO is Britain’s leading food retailer. By the 1990s, Tesco started to developed new marketing concepts and strategies that gave focus on customer satisfaction. Among of its innovation was the introduction of the loyalty cards in 1995. Tesco also now operates in 13 countries around the world, indicating that Tesco is willing to expand both its product and geographic range in order to grow sales ...Download file to see next pagesRead More
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