Learning Aims The aim of this assignment is to give students the knowledge and understanding of how a business unit can strategically organise and plan for likely future outcomes in order to be successful.
One of the aims of this assignment is to build on student's existing knowledge of the basic tools of business analysis such as PESTLE and draw it together so that the students think strategically.
Students will be introduced to further analysis tools needed for the process of strategic planning. They will be able to assess the significance of stakeholder analysis and carry out an environmental and organisational audit of a given organisation.
Students will learn how to apply strategic positioning techniques to the analysis of a given organisation and prepare and present a strategic plan based on previous analysis. They will also learn how to evaluate possible alternative strategies such as market entry, substantive growth, limited growth or retrenchment and then justify the selection of a strategy for a given organisation.
Finally, students will assess the roles and responsibilities for strategy implementation and analyse estimated resource requirements for the implementation of a new strategy for a given organisation. Students will then be able to evaluate the contribution of specific, measurable, achievable, and realistic and time constrained (SMART) targets for the achievement of strategy implementation in a given organisation.
Learning Outcomes
By the end of this unit a student will be able to:
1. Understand the process of strategic planning
2. Be able to formulate a new strategy.
3. Understand approaches to strategy evaluation
4. Understand how to implement a chosen strategy.
TESCO Case Study - Case Study: Tesco | Vision, values and business strategies
Task 1
Strategic Planning LO1: Understand the process of strategic planning
Scenario: Your position is as an Assistant Manager. You are required to write a report to your line manager outlining the process of strategic planning and the evaluation of the effectiveness of techniques used in the development of strategic plans.
This is with a view to ensuring that Tesco achieves its strategic goals in the UK.
AC To achieve the criteria you must show that you are able to:
1.1 Provide an assessment of the extent to which Tesco's mission, vision, objectives, goals, core competencies inform its strategic planning.
1.2 As an assistant manager of Tesco analyse the factors you would have to consider when formulating strategic plans.
1.3 Evaluate the effectiveness of two techniques used by Tesco in developing strategic business plans.
M2 M2 refers to task 1 (AC1.3). Select and apply one appropriate technique in strategic planning at Tesco.
M3 M3 refers to task 1 (AC1.1, AC1.2 and AC1.3)
Use a formal report format to present your report including headings, reliable sources, academic references and Harvard Referencing Style.
D3 D3 refers to AC 1.1
After reading the scenario and searching about Tesco UK company. Create a new Vision and a Mission statement for Tesco UK with a view to achieving its goals.
Excellent use of the research evidence required to provide justification.
Task 2 Strategic Development LO2: Be able to formulate a new strategy.
Scenario: Having provided your report in task one; your line manager is keen to see what you propose as a new strategy.
Provide a report on your proposed strategy
Assessment Criteria (AC) covered by this task: AC 2.1, 2.2, 2.3, 2.4 and D2.
AC To achieve the criteria you must show that you are able to:
2.1 Analyse the internal audit strategic position of Tesco by carrying an
2.2 Carry out environmental audit for Tesco.
2.3 Assess the significance of stakeholder analysis for Tesco when formulating new strategy.
2.4 Using the case study and the research information, present a new strategy for Tesco.
D2 D2 relates to AC 2.2
Critically evaluate the impact of external environment audit have upon Tesco business objectives and decision- making.
Use reliable sources and Harvard Referencing Style.
Task 3 Strategic Evaluation LO3: Understand approaches to strategy evaluation
Scenario: Following task two, you are required to show an understanding of different approaches (market entry, substantive growth, limited growth or retrenchment) used by Tesco to enter, grow or withdraw from a market. You are required to write a report to complete this task.
Assessment Criteria (AC) covered by this task: AC 3.1, 3.2 M1 and D1.
AC To achieve the criteria you must show that you are able to:
3.1 Analyse the appropriateness of two alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for a given organisation.
3.2 Based on 3.1, justify one of the chosen strategies
M1 M1 relates to tasks 3.1 and 3.2
To achieve M1 you should evaluate the limitation of discussed strategies in 3.1 with justification.
D1 D1 relates to AC 3.2.
Considering the limitation of the strategies discussed in 3.1, provide a critical evaluation of your selected strategy and
support with valid justification.
Task 4 Strategic Implementation LO4 Understand how to implement a chosen strategy.
Scenario:
Following your reports, you are required to show an understanding about the implementation of strategies for Tesco and the responsibilities of personnel who will contribute to the implementation. Show your understanding
of strategy implementation.
Assessment Criteria (AC) covered by this task: AC 4.1, 4.2 and 4.3.
AC To achieve the criteria you must show that you are able to:
4.1 Focusing on your recommendations of strategy in AC 3.2, provide an assessment of the roles and responsibilities of personnel who are involved with strategy implementation
4.2 Analyse the resource requirements you will need to implement a new strategy at Tesco.
4.3 Evaluate the contribution of SMART targets to the achievement of strategy implementation at Tesco.