Their principle business strategy is to create value of shareholder though innovation and focus on satisfaction of customers. Environmental scan is important for any organization on the basis of which a strategic plan is proposed. Following is the PEST analysis:.
Before starting operations in any country, its political environment should be scanned thoroughly. Many countries encourage foreign direct investments and supports retailers to start its operations in that country.
Starting operations in another country would help to get its people with more locally based, flexible and from average earning jobs to high paid earnings job. Tesco has high workers turnover and they are offered high level of trustworthiness Retail Business Review, Tesco pays high attention towards technological changes that are constant in any industry as it influences expansion and growth of Tesco Wilson and Gilligan, The main purpose behind remaining technologically advance is that both company and customers are satisfied and benefitted.
The high level of satisfaction could be achieved when goods are readily available to its customers in the stores. Tesco is technologically efficient but usage of technology such as electronic scanners; electronic Point of Sale EPS and Electronic Funds Transfer Systems EFTS will also help to improve the distribution services and other inventory related activities.
Economic factors have more influence on business operations of Tesco Veliyath and Fitzgerald, The increasing rate of unemployment due to recession is uncontrollable factor and could not be controlled by Tesco. However, it could be expected that any slowdown in UK market will negatively affect the operations of Tesco which shows that the organization have greater risks of market concentration. Performing in ethical way is one of the major responsibilities of any organization. Therefore, Tesco aims to be a socially responsible company as it pays high attention to the practice of corporate social responsibility.
The company aims to satisfy all its stakeholders through performing utmost obligations which are in accordance to the corporate governance De Toni and Tonchia, Consideration of social and cultural factors are important fir any organization. The customers of UK usually do shopping in bulk which is highly by the social changes occurring in the last decades. This has influenced the shopping behavior so Tesco has expanded its stock of non-food items.
Besides social and cultural factors, demographic factors such as increase of women employees, increasing trend of frozen foods, aging population etc force retailers to consider these changing factors and update the organization accordingly Drejer, Thus, Tesco comply to these changes and also give emphasis is given to operational improvements and supply chain management to increase the overall organizational performance.
As the company operates in a globalized environment therefore it has expanded its stores outlets in many countries. The company is principally UK dependent. Therefore, in case of any pitfall, the company will suffer. The company is not much geographically diversified which could result in systematic risk. With respect to the international expansion plan, assumption is made that Tesco will start its operations in Switzerland, Europe. Current position of Tesco is very strong as it can be judged from its large profits and constant investments in setting up new stores at both levels, i.
Thus, the organization has high potential to penetrate in Swiss Market. Tesco will target customers belonging to all age groups and will try best to meet their needs and expectations.
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