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Strategic Planning

Strategic Planning Assignment

By

Dhwanit Pramodkumar Khandwala


(Student no: GSP2958)

Submitted in fulfilment of the requirements of the taught PGD Project to


the Exam Board Edexcel for the degree of
PGD IN STRATEGIC MANAGEMENT AND LEADERSHIP.

December 2014

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Strategic Planning

CONTENTS
No.
Introduction

Topics

Company Background

1.1 Explain the importance of external factors affecting an organisation

Page Nos.
3
3
3

1. Analyse the needs and expectations of stakeholders of an organisation

2
1. Analyse the major changes taking place in the external environment

3 that will affect strategy


2. Use appropriate tools to analyse the effects of current business plans

1
2. Review the position of an organisation in its current market

2
2. Evaluate the competitive strengths and weaknesses of an organisations

3 current business strategies


3. Use modelling tools to develop strategic options for an organisation

1
3 Develop a comparative understanding of activity from organisations in

.2 the market
3 Create options to form the basis of future organisational strategy

.3
Propose a suitable structure for a strategy plan that ensures appropriate
4.1

participation from all stakeholders of an organisation


4 Develop criteria for review potential options for a strategy plan

.2
4 Construct an agreed strategy plan that includes resource implications

.3
5 Compare core organisational values (ethical, cultural, environmental,

10

.1 social, and business) with the current business objectives of an


organisation
5 Develop appropriate vision and mission statements for an organisation

10

.2
Produce agreed future management objectives for an organisation

11

5.3

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Develop measures for evaluating a strategy plan

12

Develop a schedule for implementing a strategy plan in an organisation

12

Create appropriate dissemination processes to gain commitment from

12

5.4
6.1
6.2 stakeholders in an organisation
6 Design monitoring and evaluating systems for implementation of a

13

.3 strategy plan in an organisation


Conclusion

17

References

18

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Strategic Planning
Introduction
Strategic planning basically is a method wherein the CEO of the company, keeping in mind
the mission and values of the company, develops a strategic path to accomplish the business
goals while combating the adverse environmental forces like political, economical, sociocultural and technological forces. However, along with planning, strategic implementation is
also very essential. A plan, even when it is full proof, is of no use unless and until it is
implemented in right way. Strategic implementation is a process wherein the management of
the company put the developed strategic plan into action on a regular basis.

Company Background
Tesco is the leading retail company in UK. To expand its growth in both national and
international market, Tesco has to design effective expansion strategies and has to
accordingly introduce new products in local as well as international market.

Available at: http://www.dailymail.co.uk/news/article-2281448/Tesco-voted-worstsupermarket-UK-Stores-given-poor-marks-pricing-customer-service-fresh-produce-qualityannual-poll.html


After achieving successful position in Europe market, the company aims for joint venture
acquisition in Asian market and also aims to enter US market while remaining the leader of
retail sector in UK.

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The company has to constantly develop innovative strategies to achieve the above mentioned
aims, to gain competitive edge and to combat the rivals.

LO (1) Understand the external environment affecting an organisation


AC 1.1 Explain the importance of external factors affecting an organisation
When analysing the external environment, Tescos management has to consider the
constantly changing factors (political, legal, economical, social, cultural, environmental and
technological factors) which affects the smooth operation of business processes within the
organisation. Analysing these factors through PESTLE analysis can help the management to
identify the impact (both positive and negative) of each factor on Tescos business, benefit
from the opportunities and develop contingency plan for threats offered by these factors.
Changes in the political issues and legal rules and regulations dramatically affect Tescos
business and in achievement of its goals and objectives. Economic changes impacts the
buying pattern of the consumers thus adversely affecting the companys business. Tesco has
to cater to the social and cultural needs of the customers, like Halal products for Muslims,
baby products for young babies and health and beauty products for conscious customers, to
attract them towards its business. Tesco has to contribute to the environmental issues to gain
more recognition in the society, thus impacting its brand growth. Technology is changing at
fast pace and Tesco has to adopt new technology in its business operations to compete with
its competitors.
This will help the management to develop an effective strategic plan and safeguard the
business from any harmful impact of external factors.

AC 1.2 Analyse the needs and expectations of the stakeholders of an organisation


Stakeholders can be any person or other company that are affected by the business activities
of an organisation. Examples of stakeholders include customers, suppliers, owners, senior
management, employees, union or agencies, etc. There are active shareholders who are
involved actively in the business. Their role is to operate business, make decisions, and use
their rights for the benefit of the company.

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Strategic Planning

Available at: https://www.google.co.uk/search?


hl=en&site=imghp&tbm=isch&source=hp&biw=1024&bih=674&q=tesco+supermarket&oq
=tesco+su&gs_l=img.3.0.0l10.2009.4248.0.7814.8.7.0.1.1.0.68.250.7.7.0....0...1ac.1.58.img..
0.8.258.SiVYUBEh3Xw#hl=en&tbm=isch&q=needs+and+expectations+of+stakeholders&fa
crc=_&imgdii=_&imgrc=EZe-FMUZX1w0xM%253A%3BovrQ-WaSJg0znM%3Bhttp
%253A%252F%252Fwww.idrc.ca%252FEN%252FResources%252FPublications
%252Fopenebooks%252F870-8%252Fenhancing_23_0.jpg%3Bhttp%253A%252F
%252Fwww.idrc.ca%252FEN%252FResources%252FPublications%252Fopenebooks
%252F870-8%252Findex.html%3B384%3B349 (11-11-14)
There also exist passive shareholders who are just the investors. The shareholders and
stakeholders have direct or indirect interest in the business and play a major role in setting
goals, objectives, policies and actions for the company. With regard to Tesco, there exists
following stakeholders and their roles are as follows:
Management: They are the main stakeholders as they are strongly and directly connected to
the company. Their expectation is to earn good income, have a secured position and better
status in the company.
Employees: Employees are the second most important stakeholders and are also directly
linked with the company. Their need a good and healthy work environment, recognition for
their achievement through productive rewards, and raise in their position as well as salary.
Customers: They come after the management and the employees and connect with the
company on day-to-day basis. They are the one who helps the company to generate revenue.

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Customers expect good service, quality products, affordable products price, and value for
them and their money.
Government: Government are another most essential stakeholders connected with the
organisation. They give permission and offer support to the company to expand, establish or
develop its business. They expect companies to work within the rules and regulation set by
them and pay tax regularly.

AC 1.3 Analyse the major changes taking place in the external environment that will
affect strategy
In the external environment, major changes are occurring in the political, social, economical
and technological factors. Technology is rapidly growing and there is been huge development
in communication and information spread across the world. Ownership pattern in the
corporate world have become more complex and companies today are investment a great deal
in joint ventures, mergers and acquisition to expand their business both nationally and
internationally. Companies are adopting globalised strategies when it comes to operating
business, producing goods and services, distributing goods, and managing workforce.
Economy conditions in different countries are closely linked and finance has now become a
worldwide resource. All these strongly impact the business and formulation of business
strategies.
There are following outcomes on Tesco with regard to changes in the external environment:

Tesco has to constantly combat with the uncontrollable and unavoidable external
environmental forces.

These forces compels Tesco to design strategies with regard to offering better quality
products, operating its business in various demographic reason, satisfying
psychographic needs and demands of the consumers, adopting new technology into its
various business operations, obeying the rules and regulations set the government in
corporate world, and performing environment-friendly business procedures.

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The external environment also affects Tesco strategy on mergers and acquisition to
expand the business, on using limited financial resources, on competing with rivals in
national and international market and on empowering employees and consumers.

LO (2) Be able to review existing business plans and strategies of an organisation


AC 2.1 Use appropriate tools to analyse the effects of current business plans
A business plan is essential for the growth and development of the company. Periodic
reviewing, analysing and revising of business plan are important to identify if the strategic
plan complies with the changes in the internal and external environment. Tesco can analyse
the effect of its current business plan using following tools:
1. SWOT analysis
This helps Tesco to analyse its strengths and weaknesses and potential opportunities
and threats in the external environment. Identifying strengths helps the company to
analyse the current business plan is yielding good profit.

Available at: http://realswotanalysis.blogspot.co.uk/2010/08/swot-analysisexample-case-study.html

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Weaknesses encourage the company to redesign its current plan, opportunities motive
it to invest more on the plan and threats compel it to modify the current business plan.
2. Internal survey and Porters 5 Forces analysis
Using internal survey tool, Tesco can identify if the current business plan is efficient
in attracting more customers and other stakeholders to the business.

Available at : http://crackmba.com/porters-five-forces-model/
It can also use Porters 5 Forces analysis (competitive rivalry, bargaining power of
buyers, bargaining power of suppliers, threats of entrants and threats of substitutes) to
analyse the competitive factors in the industry (political, economical, social, and
technological) and the current position of the company in the market.
3. BCG matrix
With this tool, Tesco can know about its current marketing growth and marketing
share. It can analyse its products and service are viewed as Stars, Cows, Dogs or
Question Marks (four categories in BCG matrix) by the external market.

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Available at: http://marketplanningwithtesco.blogspot.co.uk/


With the current achievement of Tesco, in the business world, it can be positioned at
Stars in BCG matrix.

AC 2.2 Review the position of an organisation in its current market


The current position of Tesco in the market can be reviewed as follows:
Tesco has achieved a leading position in retail industry in UK market and it is at third
position in the global market after Wal-Mart and Carrefour. Its products are available
at cheap price than its competitors like Sainsburys.
It has currently developed a new concept of megastore and had opened Tesco Metro,
Tesco Express and Tesco Extra to satisfy the needs of local customers in different
region. Thus Tesco is more resourceful and diversified than its competitors.
Since 1995, the company is running its Clubcard scheme to attract more customers
and to offer value for the money they spend.
In 2000, Tesco introduced Tesco.com which now generates over 700 million of sales
and over 35 million of profit.
Within UK, it offers its extensive service to 96% of the population and monitors over
170,000 orders each week.

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Strategic Planning
Since 2000, Tesco is operating its non-food business like offering financial service,
telecom service, and care for kids through Kidsclub, etc.
Tesco aims to expand its business in local and international market and increase its
profitability and productivity. It is widely spread in Europe market, has established
joint venture with retailers in Asian market and is now aiming to enter US market.
From the beginning Tesco has kept the price of its products low and this is offering though
competition to other retail companies in the market.

AC 2.3 Evaluate the competitive strengths and weaknesses of an organisations current


business strategies
Every company designs business strategies to gain competitive advantages. However, the
management of the company has to ensure that the business strategies designed strong and a
step ahead compare to its competitors or else the strategies will fail their purpose in the
competitive market.
Competitive strengths of Tescos current business strategies
It helps to better understand the customers and their needs, values, pattern of
consumption, and demographic region.
It offers a competitive advantage when Tesco is able to successfully understand and
satisfy its customers need than its competitors.
Strong business strategy helps Tesco to better allocate its resources to perform various
business functions within the company.
It helps to understand the competitors and their strategies to succeed in the market.
Tesco can accordingly create, update and redesign its business strategies.
Weaknesses of Tescos business strategy
Tescos low cost business strategy may not help the company to yield good profit in
international market and therefore it needs to thoroughly study the market in which it
is entering prior to its penetration.

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Its megastore concept and strategy may fail if it does not cater to the needs of the
customers in the demographic region of its origin.
With end-less financial and telecom providers in the market, Tescos financial and
telecom service may not turn out successful if it fails to offer best deal and value for
consumers money.

LO (3) Be able to develop options for strategic planning for an organisation


AC 3.1 Use modelling tools to develop strategic options for an organisation
Tesco can use various modelling tools like Porters 5 Forces, SWOT analysis, Value Chain
analysis, balance scorecard, strategic gap analysis, etc. to develop strategic options. Whatever
strategic planning tools are used, it should concentrate on quality management of the
company.
Porters 5 Forces
Competitive rivalry, bargaining power of buyers, bargaining power of suppliers, threats of
new entrants and threats of substitutes are the five forces which impacts the business
operation of Tesco. Tesco needs to plan strategies to respond to these forces in order to
achieve its goals and objectives. To fight the competitors, Tesco needs to formulate
competitive strategies. It has to maintain good relationship with suppliers to eliminate their
bargaining power. To avoid buyers bargaining power it should constantly offer its products at
low price. The company should come up with news and innovative products satisfying needs
of various customers in order to overcome threats of new entrants and threats of substitutes.
Ansoffs Matrix
Market penetration, new products and services and market development are the three
strategic directions of Ansoffs matrix. Tesco penetrates the market with its self advertising
techniques and its online website. It also uses leafleting and club card schemes to attract the
loyal customers and to find a way of penetrating in the market.

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Available at: http://marketplanningwithtesco.blogspot.co.uk/

Besides the grocery products, Tesco also offers new product line and services like loans and
mortgages, electronics, saving schemes, etc. Tesco aims to develop its business in
international countries and therefore it has spread its business in Japan, South Korea, Asia
and other European countries.

AC 3.2 Develop a comparative understanding of activity from organisations in the


market
The market is become more complex and every firm is adopting effectively competitive
strategies to sustain for long run. By adopting Porters generic strategies, Tesco can gain
competitive edge and effectively fight against the rivals in the market. The best competitive
strategy for Tesco is:
Cost Leadership: This strategy states that a company can gain competitive advantage by
offering its products at low price than the competitors. Tesco has kept the price of its products
low since the beginning and so it can be said that the company is following this strategy have
gained cost leadership position in the market. However, Tesco hasnt comprised in the quality
of its products while keeping its price low.
Besides, Tescos varying network outlets like Tesco Metro, Tesco Extra, etc., diversified
range of products and online shopping option gives it a competitive advantage.

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By performing various business operations under cost leadership, Tesco can gain competitive
edge and better position in the market.

AC 3.3 Create options to form the basis of future organisational strategy


Penetrating new market or developing new products or service are the best options which can
lead to development of future strategy for Tesco. Tesco is dominating UK market; however,
to expand its business and growth, Tesco also needs to divert its attention to entering new
market or developing new products.
Market Penetration
Tesco is looking forward to international expansion to satisfy the needs of maximum
customers in other countries. To flourish its international business, Tesco has to develop
strategies to succeed in new market and to maximise its market shares and market growth.
Product development
Developing new product or service is another way to attract more customers towards the
business. Using this strategy, Tesco can retain its existing customer base. However with
regard to product development, Tesco needs to plan future organisational strategies that help
to identify diversified range of products and services that Tesco can develop to satisfy the
end-less needs of the customers.

LO (4) Be able to construct a strategy plan for an organisation


AC 4.1 Propose a suitable structure for a strategy plan that ensures appropriate
participation from all stakeholders of organisation
Tesco ensures that different stakeholders, like management, employees, consumers,
government and other shareholders, actively participate in the development of strategic
planning and management process. A strategic plan can only be effective if there is a feeling
of ownership amongst all the stakeholders.

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Good management participation will lead to delivering superior quality strategic planning and
its implementation at all level of business unit. They will ensure that all the business
processes are carried out according to the business ethics.
Effective employees participation will result in delivery of good customer service and quality
outcome of business products, processes and procedures. Their active involvement will lead
to achievement of strategic business goals and objectives.
Consumers can be encouraged by the team of Tesco to participate in the strategic planning
process. The team can involve them and take their feedback regarding the business processes
and procedures of the company. Based on the consumers feedback, the management of Tesco
can continue, modify or complete change the processes and procedures to best suit the
customers need.
Government department can be involved in strategic planning by letting them know about the
strategic decisions and plans of the company. Their approval in business processes can help
the company to function smoothly in the changing market condition.

AC 4.2 Develop criteria for reviewing potential options for a strategy


A set of assessment criteria should be developed by the management of Tesco to review the
strategic plan. There are different options that the management can use to quantitatively and
qualitatively review the plan. This includes balance scorecard, target/goals, and success
metrics.
Balance scorecard: This is a strategic planning and performance management tool which
Tescos manager can make use of monitor the progress of their company. It can be beneficial
in integrating financial and business plans. The managers can effectively allocate and use
resources and set priorities which lead them to achieving both long-term and short-term
goals.
Setting targets/goals: Setting realistic, measureable and achievable goals or target can help
the managers of Tesco to transfer their strategic mission, vision and objectives into particular
performance target. Realistic plan will correctly position organisation for the future that is
totally different from the past. Strategic planning which has clear defined targets can result in
future success of the company.
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Success metrics: To convert the strategic plan into action and for action to remain on track,
Tesco needs to develop appropriate way of measuring success and make sure that those
measures steer operational activities. Success or performance metrics are the success
measurement tools that ensure that strategic planning activities are in place.

AC 4.3 Construct an agreed strategy plan that includes resource implication


Tesco needs to design a strategic plan which is not only agreed by the concerned stakeholders
but also includes all the necessary resources which are required to successfully implement the
proposed plan. This includes necessary skills and competencies, human resources, material
resources and financial resources.
Tescos strategic plan is to develop and grow its business in both national and international
market. It aims to be a dominating retail company in the overseas market as it is in UK. The
management as well as the employees of Tesco are highly skilful and competent to support
the proposed strategy. They have the potential to use the strategies effectively and to make it
profitable for the company. Their joint efforts and skills and competencies can help Tesco to
rule any market it enters.
Market development and market penetration strategy can only be successful if all the human
resources are channelized in right direction. This means that they should be motivated to offer
their valuable contribution for the success of the company. However, their motivation can be
kept intact if their hard work and good service is recognised with rewards and benefits.
Proposed strategy of Tesco can bring required success if there are right amount of material
and financial resources available to invest in development and growth in new market.

LO (5) Be able to examine factors affecting an organisational strategy plan


AC 5.1 Compare core organisational values (ethical, cultural, environmental, social and
business) with the current business objectives of an organisation
Tesco being the most flourishing retail chain in UK and a leading supermarket across the
globe has created its core organisational value and amalgamated it in its present business
objectives. This can be explained in following way:
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Ethical value with current business objectives: Tesco has powerful ethical value and it carries
out its business ethically. It has won Trading Fairly Award in UK for best ethical
performance.
Cultural value with current business objectives: Tesco creates friendly and motivating work
environment/culture for its employees. 19% of its employees are women and are designated
directors position. The main aim of the company is to develop leadership qualities in its
employees.
Environmental value with current business objectives: Company takes accountability for its
environmental responsibilities and therefore it carries out its business processes in such a way
that it doesnt affect environment. It aims to reduce CO2 emission by 5% in comparison with
previous year and to lessen it to 0% by 2050.
Social value with current business objectives: Tesco maintains a strong social relationship
with all its stakeholders and treats everyone with respect. It has 92% of suppliers all across
the globe. It thrives to improve its relationship with its loyal customers by catering to their
needs.

AC 5.2 Develop appropriate vision and mission statement for an organisation


A strategic vision and mission statement helps an organisation to remain focus and
accomplish its short and long-term objectives. It is also important to cope up with the
economical, social, political, technological and competitive changes which impact the smooth
functioning of an organisation. Vision and mission statement of the organisation illustrates its
efforts to increase its profitability and productivity.
The mission of Tesco is to create value for the customers and to earn their loyalty for
lifetime. Tesco values the customers and its major business decisions and procedures are
concerned with customers value and interest.
Tescos vision is to better understand their customers as compare to its competitors. It
endeavours to offer best quality products and services and also to emerge as the most
innovative organisation with regard to its products and services.

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AC 5.3 Produce agreed future management objectives for an organisation
The management of Tesco has following future objectives:
It is a leading supermarket in UK and aims to be the top-most retailer in international
market by 2023
It targets to acquire 60% of core UKs business by 2018
It aims to achieve success in its non-food business, like insurance, electronics and
mobiles, by next 3 years.
It creates SMART objectives that are specific, measurable, achievable, and realistic
and time bound. Tescos objective specifies what its business is all about, it takes
effective measures to execute its objectives, the objectives are potential enough to be
achieved, realistic objectives eliminate the chance of any unprecedented action and it
creates and implements its objectives in appropriate time period to gain competitive
success in the market.
It needs to consider Porters Five Forces (competitive rivalry, bargaining power of
buyers, bargaining power of suppliers, threat of substitutes and threat of new entrants)
as a marketing strategy to be a successfully operating competitive firm.

AC 5.4 Develop measures for evaluating a strategy plan


It is essential for a giant company like Tesco to design certain measures to evaluate its
strategic plan. Evaluation helps to analyse the progress of the strategic plan and the extent to
which SMART objectives are been achieved. The following are some of the measures of
evaluation:
Productivity measure: The strategy is evaluated in terms of productivity which means
whether it is successful enough in terms of cost and efficiency. Productive strategic plan will
help Tesco to improve its brand name and profitability in the current period.
Quality measure: This measure indicates quality evaluation of the strategic plan on the basis
of its accuracy, competitiveness, responsiveness, reliability, etc. Qualitative plan will help

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Tesco to beat the rivals and sustain its position as a leading retailer in the market for long
period.
Outcome measure: This measure is about evaluating the outcome of the plan, that is, whether
it helped to satisfy customers and fulfilled their needs. It basically evaluates the impact and
the advantages of the plan. If the strategic plan helps Tesco to satisfy its customers demand,
it can strengthen its relationship with customers and increase its customer base.

LO (6) Be able to plan for the implementation of a strategy plan


AC 6.1 Develop a schedule for implementing a strategy plan in an organisation
Tesco aims to be an outstanding retailer in the international stores and on international
websites. The company has successfully established its business in Europe, Thailand and
South Korea. It now on the path to increase its profitability in US market. The following
Gantt chart illustrates the time scale of Tescos entry as Fresh and Easy retailer in US:
Activities/Years

2007

2008

2009

2010

2011

2012

2013

2014

Fresh and Easy


opened in US
Opening program of
the store was resumed
Fresh and Easy
suffered 142 million
of trading loss
Announcement
regarding temporary
closure of 13 Fresh
and Easy stores
Few more stores were
reopened
Fresh and Easy
gaining popularity

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amongst the customers
Suffered heavy losses
Expected to reach a
break-even point
Estimated to generate
good profit

AC 6.2 Create appropriate dissemination processes to gain commitment from


stakeholders in an organisation
There should be a planned process to involve stakeholders in the formulation of strategy
which not only defines the objectives of engagement to the stakeholders but also indicate how
they can involve themselves in each stage of strategic planning. This process of stakeholders
engagement is termed as dissemination process. Through dissemination process, Tesco can
gain stakeholders commitment in following way:
The company should motivate them to identify, accept and follow companys vision
and strategy.
The way the employees are treated, acknowledged and remunerated, it should give
them a sense of equality.
No matter it is a consumer or an employee or no matter what the status of the people
working within the organisation is, the organisation should fairly treat them and give
them equal respect.
The management of Tesco should develop healthy relationship with all concerned
stakeholders.
A rational approach towards communication and solving problems creates an
environment wherein people are open, honest and deliver consistent performance.
This will result in increased level of trust leading to stakeholders involvement.

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AC 6.3 Design monitoring and evaluation systems for the implementation of a strategy
plan in an organisation
Monitoring and evaluating the proposed strategy, on a regular basis, is the most important as
well as most challenging task for the management of Tesco. Since the process is intense, it
requires lot of time and research work on its part. A strategy if effectively implemented can
prove to be beneficial in determining the success of the company.
There are number of ways through which Tescos management can evaluate the progress of
their strategies as well as their business. At the managerial level, Tesco can monitor the
progress of the strategies through board meetings after every 3 months and analyse whether
any changes needs to be done in the strategies. Designing a worksheet which gives step-bystep evaluation of how the strategy is progression can also be effective. A well-formed
workshop, presentation, seminar, etc. attended by all those who designed the strategies can
serve the purpose of evaluation better.
Besides, creating a monitoring and evaluation system can help to gather and analyse
information about the strategy and also help to evaluate its efficiency with regard to the
business growth. Tesco can monitor and evaluate its strategic plan by designing 5 years
logical framework analysis which emphasises on assessment of final results and impacts. It
should cover baseline, mid-term and final evaluation of the company.

Conclusion
Formulating effective strategic plan is essential for the success of Tescos products and
services. At every stage of strategic planning, it is essential for Tesco to examine the barriers
to planning and try to overcome them to obtain desired success. With the best plan in hand,
the company can design win-win product and service that would attract attention of vast
customer. However, while formulating the plan and developing the product, it is essential for
the company to abide by the business ethics or else it might loss the trust of its loyal
customers in long run.

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