Understanding strategic management Essay Example | Topics and Well Written Essays - 2250 words - 1

Understanding strategicalal heed - Essay ExampleDecision makers and managers essential apply their strategic skills in the process of managing an organisation. Increasing competition and changing nature of demand be the two prime reasons behind the increasing demand of strategic wariness process in the contemporary world.This paper go out attempt to assess a company by using strategic management tools and models. The models and tools will be used for two proposes i.e. for environmental scanning and for strategy formulation. Environmental scanning will include internal and external analysis. The next section will show the companys strategic position in the market. Based on the analysis and findings, relevant strategies will be recommended. Tesco Plc has been selected for the purpose of strategic management analysis. Tesco is a UK based company and is operating in the global retail industry. However, in this paper, the essential focus will be on the UK retail industry.Tesco Plc is a UK based leading retailer. The company was founded by Jack Cohen in 1919. The company was first listed in London Stock Exchange in 1947 and it launched its bodily website (Tesco.com) in 2000 (Tesco Plc-a, 2010). The company offers a wide range of product and retailing service through its numerous superstores. Tesco offers homes products, fast moving consumer products, clothing, consumer durable, electronics etc (Tesco-a, 2010). The latest annual report of Tesco disclosed that it owns 4810 stores in the global market and intimately 472000 employees are working with Tesco (Tesco Plc-b, 2010).It experienced very fast growth and after its global expansion, the company became the tercet largest retailer in the world after Wal-Mart and Carrefour. The company has developed its reputed brand image in the market. Specially, in UK, the company has gained a large share of the market (Silverthorne, 2010).Tesco has developed an effective and efficient strategic management procedure in