Strategic Research On Tesco: Environmental, Competitive, And Strategic Analysis

Environmental Analysis

Strategic management is defined as the process of setting procedures, goals, and objectives in the order to create an organization and company more competitive in nature (Hitt, Ireland & Hoskisson, 2016). The paper aims to conduct strategic research on Tesco, UK, which is one of the leading organisations in selling merchandise stores (Lynch, 2018). It is a British multinational organisation that was founded in the year 1919 in England and it specializes in general merchandise, groceries, electronics, and telecoms (2020). The organisation had repositioned itself to a down market where high-volume low-cost products are sold so that it can attract the social groups with its low-cost value chain. The discussion section of the paper, will emphasize the environmental analysis which will incorporate PESTLE Analysis, Porter’s Five Force Analysis, strategic group analysis, and industry lifecycle. In the next section, the resources and complete analysis will comprise value chain analysis and VRIO which will contribute to understanding the activities catered out by the company (Aiello et al., 2020). The recommendation section will emphasize two options, one is SWOT analysis where opportunity factors will stress the factors that can be adopted by the company in the coming days, and lastly analysis with the help of the Ansoff matrix, thereby assisting to develop effective products for the firm.

Political: As Tesco is a multinational company and it functions in different countries across the globe it signifies different political and government regulations. Some of the major countries it is operating in are the Czech Republic, Malaysia, Hungry, Ireland, China and many others. Hence, a stable political factor is a key to operating the business successfully in any country (Wood, Coe & Wrigley, 2016). Britain maintains a stable political environment and assisted to be the top retailer within the local market. On the other hand, the US and China trade conflicts were between Trump and the Chinese government over the media for the last four years. There was high taxation on imports of Chinese products.

Economic: The outbreak of global pandemic, covid-19, had created an impact on the business and the restrictions on physical distancing and shutting down of business had created a massive impact on the business but it had defined its online eCommerce strategies, thus saving the business to become the victim of a pandemic. The net revenue and yearly revenue of Tesco have increased by 1.3 billion pounds and an approx. of 360 million pounds in 2020 (Adamyk, 2019). Thus, the situation of unemployment rate had created an atmosphere of financial instability.

PESTLE Analysis

Social: The new concept of the social supermarket is one of the emerging concepts that is accepted in the market, where the business offers unsold inventory at a lower range. In this situation, it offers the people a certain range of discounts for the products they offer and at the same time, it decreases the rate of wastage for the company.

Technological: With the emergence of pandemic covid-19 the company had boosted its online presence where most of the customers preferred to purchase goods from the online store (TESCO PLC. 2022). Analyzing the success of the company it had planned to recruit 16000 individuals so that they can organize a better delivery service (Merritt & Zhao, 2021). Furthermore, it had partnered with Amazon to create its cashier-less billing facility and include a revolutionizing retail shopping process by saving customer costs.

Legal: Concerning the legal factors it can be analyzed that, the employees of Tesco had filed a lawsuit where it claimed unequal pay for the female and male employees. These were the lawsuits which are jeopardizing the credibility of the organization.

Environment: the recycling plan of removing, reducing, recycle ad reusing plastic is functioning effectively in the organization (Rosnizam et al., 2020). Most significantly, it is working on a loop and its only aim is to reduce waste.

Competitive rivalry in the market: The inexpensive nature of the business is high because the communal had amplified the request and it is the responsibility of the company to supply with the same. Thus, it increases the nature of the group and the business firm has captured its market which provides multiple platforms for the customers where they purchase, resulting from the fierce situation of the competition among the players (Adelakun, 2020). Some of the major rival players in the market are Sainsbury, Aldi, Morrison, and Asda. It is analyzed that in December 2020, the company had remained in a consistent position as the market leader in terms of its grocery market share of 27%.

The threat of substitutes: The threats of substitutes, can be estimated that it is relatively low within the retail industry. This is because to meet the supply and demands of the product retailers are considered to be the key players. The differentiation factor is limited in this sector for the business as it makes it critical for the customers to alter away from super chains-brands. On the other hand, some of the alternatives are close to the store’s low-cost products.

Porter’s Five Force Analysis

Threat of new entrants: Regarding the factor of threat of new entrants it can be analysed that the factor is relatively high as it is the presence of retail giants and emerging spaces that can simplify entering the market (Haddock-Millar & Rigby, 2015). Many small businesses emerge within the market and thus participate conveniently. Thus, the floor space can be a floor requirement that can be a barrier to the entry of a new market start-up. Hence, the entry of a new market is relatively high.

Bargaining power of buyers:  The factor of negotiating power of the customers within the retail industry is high and this is because there are numerous merchants in the same marketplace place. Similarly, the product offering and the price of the goods are comparable, thus leading to a significant level of buyer power.

Bargaining power of suppliers: The factor of bargaining power of suppliers can be stated as the factor within the industry which is relatively low towards the presence of a large number of suppliers within the same industry (Monte, 2021). It is the increased number of the supply chain that can reflect o the capacity thereby making it challenging for the value chain to affect the positive growth of the company.

The strategic group analysis of Tesco is its major asset as it provides the name of the company forming the major advantage of maintaining its market share. However, the brand name has enabled it to penetrate the region and other countries as well, in a much easier manner by enlarging the market share (Muli, 2019). Therefore, the company includes a culture of innovation of promotion of its technological products. It is the strategic approach of the company that facilitates being the first store to include the much-demanded products of Apple I-pads as well as Kindle from Amazon. The strategy of inclusion of these products made the company more popular ad was able to differentiate itself from the rival market, thereby making the products unfound, unlike other places. Furthermore, it engages with a large number of stakeholders which includes the government, NGOs, regulators, community, trade bodies, and media (Sangwa, 2017). The level of engagement furthermore, ranges from visiting and meeting the participants for working purposes and responding to the survey and request of shareholder projects.

The product lifecycle of Tesco can be analyzed ad evaluated with the help of four stages which are introductory, growth, maturity, and decline stage (appendix 3).

Strategic Group Analysis

Introduction Stage: The first stage is the introductory stage Tesco being a merchandising company had introduced the scope of recycling its clothing segment, but during that phase, the same of the products was the law until the consumer was aware of the features of the products that were sold (“An update on our Corporate Responsibility commitments”, 2022). Due to its worldwide recognition, the organisation has fewer marketing strategies that facilitate creating customer awareness (Doma?ski & ?abenda, 2020). One of the effective strategies of marketing that is incorporated by the business is in its advertising and promotion strategy of the brand. Thus, witnessing this as the first stage of merchandising it can endeavor the pull off in the market and is necessitated its extra cost that is specifically for distribution, in order to build up the underlying market operation.

Growth Stage:  In the second stage, that is the growth stage the customers become aware of the merchandise as well as the features. Thus, Tesco had exploited this stage and had added more of its mechanized products to its shelves so that it can expand its sale rate (Tao et al., 2016). However, at this stage, the sales output of the company is not at its peak but initially, the company increased its volume so that it could gain customer loyalty and initiate the increased rate of sales. The retail sector in this stage becomes competitive as Tesco initiated the strategy of recycling its products. Thereby enabling the company to compete against other similar markets.

Maturity Stage: In the third stage of a product lifecycle. Tesco had increased the sale rate even though the process of slow (TESCO UK. 2022). This resulted in the business gaining massively during this stage and consumers were also aware of the nature of the business Tesco is functioning with. However, the profit of the firm had increased which came from the decreased rate of promotional expense. The most vital aspect of this stage is to survive and build a wide customer base.

Decline Stage: In the last stage of the business, Tesco was well-known merchandise and with emerging of a new market, the customers had started losing their preference and showed its interest in the offerings made by the new business firm (Lockrey, 2015). For any company to continue the process of enjoying the sale of the products is much lower than the cost of the products. Furthermore, the development of new products has not yet reached the shelves of Tesco.

Industry Lifecycle

The value chain analysis can be defined as the link between the supporting activities along with the primary activities of the organisation. However, the value chain analysis of Tesco can be analyzed under tow main sections and they are:

Primary Activities:

Concerning the factor of inbound logistics, it can be analysed that Tesco contributes an effective role where the value chain represents the brand image in one of the leading positions. Thus, it further leads the economic situation to be utilized by Tesco as a tool of bargaining with low cost to the suppliers (Gereffi & Fernandez-Stark, 2016). Therefore, the delivery of products at the correct residence at the right price is guaranteed by Tesco. Furthermore, the arriving logistics assist the company to preserve modest advantage and deliberates the creation selection, scheduling of staff, stock management, and selection. Secondly, referring to the operations of the company the aim of Tesco is to develop a low-cost leadership strategy as it enables the utilization of IT systems within the Tesco Digital platform in one of the effective ways (Fernandez-Stark & Gereffi, 2019). Similarly, the system manages the operating process and is regarded as the company’s third-generation which is ERP solution as it has gained a high rate of profitability and decreased stock holdings (Sausman et al., 2015). The next factor is outbound logistics it can be analyzed that Tesco can keep up to its brand position both offline in-store as well as in the online platform segment. It is thus hard to reach the right customer segment and to optimize this factor, Tesco has divided its store into Metro, Express, Superstores, and Home Plus. Lastly, the factors of marketing and sales comprise the introduction of a price campaign that offers the product with the lowest cost but with supreme quality. The Tesco card is an effective loyalty scheme that enabled the company to gain a high rate of customers.

Supporting Activities:

The factors of Firm Infrastructure allow the company to save cost and time which has applied the barn and single-vehicle system. However, it has also prolonged its supplies as a warehouse to supply the goods to the online customers so that they can visit and can collect the products. On the other hand, the human resource management of Tesco has provided its employees with the factors of effective training, reward, and recognition as well as personal development facilities so that they can retain their talents (Parella, 2016). Furthermore, the supporting activities of the company are also its system of procurement which highlights its capabilities and competencies and some of them are as follows: successful inbounds and its outbound logistics, effective operations, efficient customer service, club and its loyalty scheme, talented staff, and many other similar factors.  

The VRIO analysis can be identified as the assessing and evaluating tool of the company. The attributes of the analysis are valuable, rare, inimitable and organization.

Valuable: concerning the stakeholders of the organization it can be acknowledged that the company contributes toward social responsibility as well (Mahadevan, 2020). The engagement in the CSR activity allows the company to build a non-substitute as engagement and approaches for the CSR which integrate with the wider business boxes and development.

Rare: the factor that assists Tesco to build is its problem-solving skills where it inculcates this culture within the workplace so that employees and management can work effectively (Knott, 2015). Hence, it is a rare competency that allows the company to steer away from the potential benefits and threats.

Inimitable: some of the inimitable competencies that assist in adding value to Tesco are its high-quality product offering and its availability in different stores and places. Thus, the high and consistent quality has enabled the company to maintain its reputation and support the increased consumption of its product.

Organization: the component of technology is therefore built by the company and it cannot be copped by the competing brands in the industry. (Yudiono, Wilopo & Iqbal, 2019). Tesco had integrated high-end technology which assist them to manage the operation as well as manage effective logistics management.             

Strength: Tesco, is one of the biggest retailers in the United Kingdom and has the highest sale as compared to the other retail chains located in Great Britain (Dakhli et al., 2019). On the other hand, the strength of the company is also reflected in the market share where Tesco is the dominant player in the grocery retail market, contributing to more than 27.9% of the market share (TESCO UK. 2022). By emphasizing the geographical diversification, it can be stated that Tesco has thrived its way with almost 4673 stores in approx. 14 different countries (Hsiao, Shu & Hsieh, 2015). Lastly, its diversified form of the store such as Tesco Metro, Tesco Home plus, Tesco Express, Tesco Superstore, one-stop, and Tesco Extra assist the customers and the business to offer its services.

Weakness: One of the major weaknesses which the company is faced is its failed operation in Japan and the US. However, the company was obligated to leave the Japanese and American markets in 2012 (Soegoto, 2021). It failed in its export processes and had involuntary the company to shut down its stores in Japan after nine years of its operation. Secondly, in 2017 the company was charged with dues and fines in the area of false accounting and misrepresentation of the profit margins.

Opportunity: The biggest opportunity Tesco can think about is its expansion in Jack’s business where the new form of discount rate can play a significant role in the company’s growth (Fatricia, 2016). It has the chance to produce its commercial and can achieve a low-cost competitive market with Lidi and Aldi, which are some of the leading competitors in the same market. On the other hand, as an opportunity for the business form they can also plan to expand its market in emerging countries such as Turkey, South Korea as well as in Indonesia.

Threats: The major threat faced by the firm is during the time it was accused of misleading the clienteles with the false farm in product names and thus advertising its nourishment goods under the false term of “Woodside farms”.

The factors of strength and opportunity can be analysed in the area of its well-established commercial with 28.4% of its grocery marketplace portion and thus consume the scope of moving within the mounting living food market employing the developed brand name along with its position. (TESCO UK. 2022). Secondly, the factor of weakness and opportunity can be identified as the decrease in the sale which could not be countered by the growth factors of clean eating and supplying its organic and fresh food to boost the sale rate (Dandage, Mantha & Rane, 2019). Next, the factors of strength and threats can be signified by the rising number of discounts the company offers to its clients, and thus they can use this scale to counter the price cuts which can be attained through mass purchase. Lastly, the factor of threat and weakness of Tesco can be analysed as growth in a convenience store and its discount rate. Hence, an alternative area of focus for the company can be to open up more stores.

Concerning the Ansoff Matrix, the company should focus on market development (refer to appendix number 7).

Market Penetration: When a business starts its operation it is necessary for them to penetrate the market in order to find new opportunities. Hence, Tesco had initially started its business in the grocery segment but later it started with electronic, financial and many other services. Furthermore, it expanded its market with the help of Tesco Clubcard. This card assisted the company to gain its loyal customer (TESCO UK. 2022). It also penetrated the market with the assistances of distributing leaflets in multiple stores.

Product development: The factor of product development is a major factor for the company. Tesco UK, had identified the scope and introduced organic food, when they observed a changing food habit and consumption pattern within the population (TESCO PLC. 2022). On the other hand, it has also introduced credit card loan facility, electronic goods, insurance and mortgage facility as well as non-stop solution to the customers. It furthermore developed environmentally friendly products and became socially responsible. Thus, the company is growing more into the telecommunication sector.

Product Development: The intension of the business is to expand in current business operation and support in new product development in new market. Tesco, had previously taken over Scottish supermarket which enabled them to identify the new market and the company has its stake with Associated British Foods, Quin worth as well as The Crazy Prices.

Diversification: The factor of diversification in Ansoff model deals with the new product development within the new market (TESCO PLC. 2022). With the help of this strategy Tesco, was able to diversify the risk of various products and markets. Initially, it was a grocery store but with expansion it had diversified into financial, electronics and rental services.

Suitability: the strategy of Tesco is to put planning into action (Warland et al., 2019). The core purpose is creation of value with the customers so that it can earn their lifetime loyalty. Therefore, the business model of Tesco is very simple and the products that are bought. sold and moved out to the customers and thus, this has enabled to gain higher insight to be used by the company in order to operate business better.

Acceptability: the aspect of acceptability of market development is a strategic approach for Tesco (Prasad, 2015) where it has been operating in more than six countries within Europe and Asia. With reference to strategic options the company has approx. 2.5 million square feet of sales and enter into major prospect market.

Feasibility: The factor of core competence is offering the customers with value (Crowe, Mesabbah & Arisha, 2015).  In order to conduct this, Tesco offers lower price good as compared to the competitors. The other factor of competence is its competitive difference. This is indicated from the close relationship it maintains with the suppliers. It provides them with required amount of information as considered with th partners of the company.

• Firstly, it can be recommended that Tesco can increase the visibility of its whole logistic chain. It can be stated that Tesco can identify the pain points, such as meeting the internal department, the principal vendor and discuss the issue. It can further work on improving the flow of information such as its future sales forecast (El Baz, Laguir & Stekelorum, 2018).
• Secondly, it can hire people to maintain a constant check over the quality of its products. Tesco, should implement a Quality Management System or a QMS which will set an internal rule of determining how the business will create and deliver the product. It will also allow to audit and process certified body.
• Thirdly, it can expand its market with the inclusion of its organic chain. It can be recommended that Tesco can start delivering organic basket with the inclusion of vegetables and fruits on subscription basis to the customers.

Conclusion

Hence, it can be concluded that Tesco is one of the biggest companies in the UK it can be stated that it had a great ability to differentiate itself from the other similar rival markets. One of the biggest achievements of this business firm is that it can maintain its value chain since 1919 where it can contribute to every segment of the society. The business is more of a model in which how good strategic management works profitable and highlights the requirement of being observed in the market and remaining consistent with the recent trends in the business.  

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