Tesco Company Essay Example | Topics and Well Written Essays - 1500 words

Tesco Company - Essay Example The paper describes the business where competition among the organizations is increasing day by day, different companies implement different corporate strategies to meet the changing requirements o f the business world and to gain competitive advantage. Tesco was also faced with these changes and challenges that were hindering the success and leadership position of the organization. Tesco came up different corporate strategies in different areas to overcome such challenges and difficulties. Along with these strategies, Tesco focused maximum on retaining its consumers; Tesco understands the value of consumers in today’s world of business. On the other hand, till today Tesco is striving hard to retain the strength of its customers without making them disappointed of their services and facilities. As a result, Tesco not only met the changing requirements of the business world but these effective steps also gained them success and strong competitive advantage over others. In the paper we can find out how to change and develop the company. The document clearly allocates Tesco’s main objective was to gain maximum consumer loyalty as it is a fundamental truth that â€Å"consumer is a king.† Customer satisfaction is the key to gain success for any company in both long run and short run. It is important for a company to focus mainly on a customer’s needs and wants. Tesco focused more on approaching their customers by implementing thorough consumer approach. Tesco focused more on understanding the needs and demands of their customers in order to remain in the market and to deliver the best to their customers. As a result, this strategy would help Tesco to gain maximum consumer satisfaction and to remain in the business in long run. Implementation of this strategy not only helped Tesco to grow and expand its business, gain maximum consumer satisfaction as well as it helped Tesco to gain employee motivation by bringing new ideas in the business and implementing innovation to their business. This triggered the employees of Tesco to become more innovative in order to deliver best of consumer satisfaction to their clients. 2- ADOPTION OF EFFECTIVE STRATEGIC HR POLICIES: Tesco realized the importance of effective and efficient workforce. No doubt, employees are the basic pillars of any organization which stand as the main driving force and contribute significantly in the success of an organization. Tesco was faced with the challenge of obsolete HR policies and incapable team of employees which were unable to meet the competition in the market, challenges faced by Tesco and growing needs of the business world. Tesco implemented a thoroughly revised strategic HR policy as a change agent to meet the challenges of the business world and to sustain its position in the market. Before implementing the strategy, Tesco ensure that each employee of its company understands his role and set of responsibilities in organization. Tesco also ensured that all the employees contribute together in the suc cess of company and to make it more dynamic in a tough competitive environment. However, Tesco was also faced with the union problem from its employees in America which the organization handled very carefully in order to minimize the gravity of the situation (David Theather). As a result, Tesco motivated its employees to become productive, motivated and innovative to attain the success objective and to meet the challenges of highly competitive global market (Steve Hammett and Ken McMeikan). The implementation of this strategy enabled the employees to understand their role and responsibilities