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| Words: 3905 | Submitted: 02-May-2012
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DescriptionThe strategies an organisation pursues have a major impact on its performance relative to rivals.
One of the prevailing trends in today’s global market is the internationalisation of businesses. Businesses are experiencing growth in their foreign operations more than they do domestically. Automobile companies for example are experiencing stiff competition in the global market. In order to combat these undesirable trends and achieve superior performance, businesses need to come out with valuable strategies so as to better exploit and expand in the global market. A good strategy is a key component to the success of any company internationally and domestically.
According to Hill and Jones(2009) ‘superior performance is typically thought of in terms of company’s profitability relative to other companies in the same or similar kind of business or industry’
According to Robert Kelly and Janet Caplanhas a company is said to have superior performance when it has the capacity to recognize opportunities that can add value, the capacity to complete quality work on a time, the ability to act as a change agent, work through organizational politics, the ability to inform the manager of the progress and impacts of the project, the ability to inspire customers on a regular basis and also the ability to work across boundaries.
The strategies an organisation pursues have a major impact on its performance relative to rivals.
Hill and Jones (2009) define strategy as ‘a set of actions that managers take to increase their company’s performance relative to rivals’. Competitive advantage can only be achieved if the company’s strategy leads to superior performance.
Mitzberg defines strategy as ‘... the pattern plan that integrates an organisation major goals, policies, and action sequences as a whole. A well formulated strategy help to allocate an organisations resources into unique and viable posture based on its relative internal competencies and shortcomings, anticipate change in the environment, and contingent moves by intelligent opponent.’
Furthermore, Johnson and schools (1999) further define strategy as ‘the direction and scope of an organisation over the long term: which achieves advantage for the organisation through its configuration of resources within a changing environment, to meet the needs of markets and to fulfil stakeholder expectations’.
For the purpose of this assignment, Tesco will be looked at as a superior performing organisation. Thus this piece of work shall be looking at the different strategies used by Tesco that has helped it gained superior performance. I am going to look at the schools of strategy in line with Tesco’s mission, vision, objectives and strategy. An analysis of some international theories such as; Michael Porter’s five forces framework, Porter’s generics, the game theory, strategic group, blue ocean, chaos and complexity as well as internal analysis on the 7S, the BCG matrix and comb analysis strategies applied by Tesco as well as use relevant frameworks and models ...
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Excellent. Does it exactly what it described. Has been extremely useful for my business studies module.
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