Business Strategy

Evaluate and summarise the four steps of forming, implementing, reviewing and developing a business strategy for an organisation. An Organisational Audit of an Organisation Tesco is a spheric grocery and general merchandise retailer which has stores in 14 countries across Asia, Europe and North America and is the grocery merchandise leader in the UK, Malaysia, the Republic of Ireland and Thailand. Tesco has increasingly diversified geographic in ally and into areas such as the retailing of books, clothing, electronics, furniture, petrol and software, financial services, telecoms and internet services, DVD rental; and music downloads. Value of Tesco is to create apprise for customers to earn their lifetime loyalty. The goal of Tesco is to be a cleric of highly valued brands and build team to create more than value. Teamwork is seen to be of very important in Tesco, as it relies on people to deliver high standard service so that they dont switch to their competitors. Decision-making is a crucial offend of good business. At Tesco, Managers are trained to make come apart decisions. They are given supportive environment where they wont be unfairly criticised for making wrong decisions and will conform to proper support from their colleague and superiors. Decision-making increasingly happens at all levels of a business.

The Board of Directors may make the strategic decisions well-nigh investment and direction of future growth, and managers make the tactical decisions well-nigh how their own department may contribute most efficaciously to the overall business objectives. Employees are the one who face customers, whence careful recruitment and selection, good training, and enlightened management is done. Also, take over incentive system has been developed to keep them motivated. Significance of a Business Strategy to Stakeholders Stakeholders are the ones who are affected by the activities of an organization. They are shareholders, employees, customers, government, pressure groups,... If you want to get a honorable essay, order it on our website: Orderessay

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