Managing Communication, Knowledge and Information: a case study on Costa Coffee
Managing communication and information is one of the effective strategic planning for running the business efficiently and conduct market research for expanding the brand across the international markets (Abdulrahman et al., 2015). The aim of the study is to analyse the management practice of information and communication in the organisation Costa Coffee where communication is necessary to improve cooperation and innovation in developing effective strategic planning in the company for running their business successfully. Through this study, it is easy to demonstrate the strategies of improving communication and improve the system of knowledge sharing and information haring in the organisation so that the organisational representative can manage the operational activities strategically.
Understand how to assess information and knowledge needs.
The management team of Costa Coffee try to develop effective decision for managing the market development plan and in this regard there are different types of decision which provide a scope to the organisation to manage the decision successfully. Strategic decision is a long term decision which is developed by the senior management team, CEO or the board of directors and in case of Costa Coffee, the management team develops the strategic decision of expanding their business by successful product development. On the other hand, the operational decision is also necessary for the company where it is helpful to conduct daily operations of the business. This is helpful for Costa Coffee to allocate their resources and capabilities and determine the business objective so that through developing operational decision, the business is successful in doing their operations successfully. Costa Coffee aims at managing daily communication with the stakeholders such as employees, front line managers, customers, distributors and organisational executives so that it is possible to serve the customers in better way. Tactical decision is another one which is also essential for the business and it is the medium term decision where the organisational changes can be tackled strategically. In this regard, Costa Coffee needs to develop tactical decision to manage the market situation and handle the product development strategy by improving market communication and sharing information with each other. Tactical decision such as developing technology and managing the operational tools in Costa Coffee need to be managed well for meeting the objective of market development plan.
Examining the information and knowledge that Costa Coffee UK has to consider in making strategic and effective decisions.
The organisation needs to have effective knowledge and information about the market trend, customer’s demand and growth in the industry in order to conduct their operational activities in the market and gain high competitive advantage. In his regard, Costa Coffee also aims at managing communication in o0rder to gather information regarding the market and industry trend so that they can develop effective strategic decision to expand their business internationally. As per the market research, it has been seen that, the high demand of the customers and the customers prefer new product in the market. Purchasing power parity of the individuals is also increasing year to year and it further provides a scope to Costa Coffee to expand their business through successful product development strategic decision. In addition to these, the company has knowledge about the competitors in the market. There is high competition in this industry and the competitors of Costa Coffee are such as Coffee Nero wild bean coffee and Starbucks.
The competitors are also well organised and established brand in delivering the best quality products to the customers (Nguyen, Nguyen and Bosch, 2015). In this regard the company face threats in the market in operating their business across the globe. Costa coffee is already a leading organisation in the UK, but there are other effective competitors who try to satisfy the customers by delivering quality products and efficient services as per the needs and preferences of the customers. In this regard, the company needs to develop effective tactical decision for managing the competitors and gain high competition advantage over other competitive firms. As per the market information, the UK market is growing rapidly approximately by 7.3% and the number of coffee shop is increasing by 314000 (www.bbc.com 2017). Additionally, it has been predicted that the turnover will be more than £13 billion by 2022 (sqlperform.com 2017) (Refer to appendix 1).
Assessing the present internal and external sources of information that is available for Costa Coffee UK
Internal data and information are necessary for accessing information related to the organisation and internal environment, and on the other hand, the external sources are essential for gathering the online information regarding the business. In this regard, there are some internal sources such as internal audit of Costa Coffee, customer’s feedback, profit level of the company, business report, balance sheet of the company and employee’s details (www.conveniencestore.co.uk 2018). Through financial data and business report, the individual can gather authentic information regarding the resources, capabilities of the brand, profit and loss and other investment related information. On the other hand, the external sources are such as online sources, social media and newspapers. Trough the external sources it is also possible to gather information related to market structure, competitive advantage and the available products and competitive brands in the market (Corredor, Forero and Somaya, 2015).
Based on your analysis, presenting and justifying your recommendations to Costa Coffee UK to increase their current and potential customers
The company Costa Coffee is efficient to satisfy the customers by providing quality products and proficient services as per the market trend and the demand of the customers. In this regard, in order to improve communication and knowledge the organisation needs to focus on gathering customer’s feedback which is an Athletic source of information for collecting the perspectives of the customers. Different customer’s feedbacks are effective to develop new planning for market expansion and product development. The company need to focus on Customer relationship management (CRM) as well as implement Information and Communication technology (ICT) for enhancing communication (Rose et al., 2015). In addition to these, the company needs to provide discount coupons and seasonal offers to the customers for improving engagement with the people. It also needs to develop new product for improving variety of taste and this is effective as it helps to retain more new as well as old customers for their quality products (Feldmann and Hamm, 2015).
Be able to create strategies to increase personal networking to widen involvement in the decision making process
In order to launch the Costa Coffee in effective market, it is possible to engage the stakeholders who play important role in running their operational activities strategically. In this regard, customers are the main stakeholders who are the main investors of the company. Product effectiveness is helpful to influence the purchasing power and intention of the customers. The organisation needs to include customers for successful launching as it provides a scope to retain more long run customers and improve trust and loyalty among them (Solaja, Idowu and James, 2016). Secondly, the employees play key role in managing the business and in this regard, launching new products need efficient employees who can manage the quality of the products and serve the customers in innovative way. Thirdly, the investors are the main stakeholders who invest in the product development strategy where the company can place the brand in innovative way. Fourthly, suppliers are also another main stakeholder group who are responsible for supplying raw coffee beans and other ingredients as well as distribute the final products to the customers as per the market trend and consumer’s demand. Fifth, the government is major part of the company whose cooperation is required in order to run the business successfully in the UK market. The company needs to follow the legal rules and legislations for launching the new products successfully.
Proposing appropriate communication channels that are cost effective to be used to invite your identified stakeholders
Proper communication channel can improve business performance as it provides a scope to the representatives of the business to communicate with the stakeholder and enhance cooperation and performance of all the stakeholders. In this regard, company’s own website is one of the main channels to engage with the stakeholders in a cost effective manner. Simple content and the one click option in the website of the organisation are beneficial where the employees, customers and distributors can cooperate with each other. This is also effective platform for communicating with others and gathers information and knowledge from each other. On the other hand, e-mail is another cost effective way for improving communication where the organisational representatives can send email to the customers for providing authentic information regarding product, price and prefers of the company. It is a confidential way to communicate with the suppliers, employees and customers. Additionally, social media is another crucial platform for improving communication in a cost effective way. Product can be launched through social media and it helps to improve engagement with all the social communities and attract the audiences successfully in long run. Through social media, the company can [post effective content, photos or videos for launching the product and it is also possible for the organisation to improve two way communications between the organisational representatives and customers properly.
Based on your identified stakeholders explain stakeholder’s interest and feedback
The customers are invited in order to launch the new product of Costa Coffee and the key interest of the customers is to maximise their needs and preferences in long run. In this regard, the company Costa Coffee needs to ensure that the new product of the company is effective to satisfy the customers by delivering quality products and efficient services according to their needs and preferences. Additionally, the employee’s interest is to gain high compensations and benefits from the company so that they will be motivated for working efficiently and meeting the customer’s needs in long run. as per the case study of Costa Coffee, the organisation hereby needs to gather effective feedback from the customers as well as the employees in order to evaluate the performance of the company whether they are efficient in managing the customers and employees who are the main stakeholders of the organisation to un their operational activities successfully. On the other hand, government is looking for the performance of the organisation whether they are efficient in managing legal rules regulations or not (Cascio, 2018). Moreover, the investors are concerned about the rate of return and the suppliers are also evaluating whether the company will provide incentives and performance related pay to them as per their performance.
Designing all-inclusive strategy for the launch of Costa Coffee UK’s new product to be outstanding and unforgettable
It is necessary for the Costa Coffee to launch the products effectively in the UK market so that it is possible to target the customers and retain them for long run. It will be beneficial for the Costa Coffee to launch the products in London Coffee festival or in Christmas as these festivals are useful where the company can attract the audiences in the market. Christmas is the biggest festival in the UK and it will be advantageous for the organisation Costa Coffee to launch the products in Christmas where people are in party mood and they enjoy new product innovation at this festival time. Moreover, the company needs to provide free gifts coupons as it helps the customers to feel grate to receive small free gifts from the company (Coombs, 2014). the lucky draw offers for holiday package and free gifts are useful strategic planning for the Costa Coffee through which they can expand their business and retain more customers for their quality products, this is also effective for improving both way communication and increasing trust and customers loyalty in the market. Moreover, the organisational can launch the new product through social media campaigning which is also increasing in the recent years and it provides a scope to the company to improve engagement with the social communities and provide effective message regarding the products and services that the Costa Coffee offers to their customers. This is also another effeti9ve tactic for the organisation to launch the product.
Reflection on outcome of product launch and key areas of improvement for future events
The strategic planning for the company Costa Coffee in order to launch the products is effective where the organisation can retain more customers in the market and launch the product successfully. In this regard, there is some future improvement plan which further provides a scope to the company to gain competitive advantage (Pearson, 2017). The company must focus on the time and place of launch which is necessary and in this context choosing the place with large crowd is suitable for Costa Coffee to attract more audience during Christmas or London Coffee festival.
Report the current Costa Coffee UK’s communication structure and system
Communication is one of the main strategic planning for conducting the organisational activities strategically where all the employees can cooperate with each other successfully. In this regard, the organisation Costa Coffee also focuses on improving internal communication so that all the employees can share their views and understanding with other colleagues and senior management team members. In this regard, the management team in Costa Coffee utilise e-mail, telephones and internal software for communicating with others. These sources are useful for interacting between other departments of Costa Coffee. In addition to these, training and development program in Costa Coffee is useful where the employees can interact with each other and share their ideas. The training program therefore provides a scope to the staff members to communicate with others and gain knowledge and understanding so that the organisational objectives can be achieved further positively. Personal contact and telephonic conversation are also other medium to discuss the job related activities with other colleagues and it further helps to resolve any critical situation in the organisation where the employees can share their problems and cooperate with others for achieving the common goals of the firm. On the other hand, external communication is also necessary where the company Costa Coffee aims at communicating with the suppliers, distributors and the customers.
Open conversation with the customers through telephones as well as the personal interaction through chatting on the organisational website is also helpful for the company to improve interaction with the customers (Crane and Matten, 2016). Additionally, the organisation aims at gathering feedback from the customers sop that it is possible to evaluate the system of the firm and it further helps the managers to analyse the needs and preferences of the customers and develop effective products and efficient service for them so that it is easy to create values for the customers and henceforth, communication with the customers through feedback mechanism is also beneficial for the firm to enhance the organisational performance as a whole. On the other hand, the suppliers also cooperate with the organisational representatives to interact so that it is possible to conduct the job more proficiently and in this regard the organisation tries to stay connected with the suppliers and distributors through GPS system and the telephonic system where the Costa coffee is successful in improving communication (Quirke, 2017).
Designing effective methods to improvise the overall communication systems at Costa Coffee UK with the emphasis of recent technology invention with modernisation
It is necessary for the organisation Costa Coffee to develop communication system as the existing interactive tactics does not provide any scope to the employees to interact with the senior management team or the leaders of the company. It is useful for the company to implement Information and Communication Technology (ICT) to improve internal as well as external communication. Through ICT, the employees can interact with all departments of the company (McQuail and Windahl, 2015). Moreover, the management team needs to arrange general meeting after appropriate time intervals so that the employees can share their views with the top management team and apart from that, the open discussion must be encouraged so that all of the staff can share openly in front of others. Apart from that, there must be personal easy message system for the employees to send personalise message to the top management team regarding their problems, queries and other issues in the workplace. Apart from that, it is necessary for the company to improve communication with the customers through designing effective consumer’s forum where the customers can give their feedback easily (Kaur, 2016). This is another effective way to interact with the customers. Sending personalise e-mail; to the consumers as well as social media interaction are also beneficial for the company to raise interactions with the people (Stelzner, 2014). These strategic planning is effective for the firms to improve the organisational productivity and performance and through communication, the company can manage their stakeholders and run the business efficiently.
Improvising the current communication mediums between Costa Coffee UK and the local community
Interacting with the overall social communities is beneficial for Costa Coffee to improve engagement with the population and attract more audiences for them. In this regard it is necessary for the organisation to develop effective strategic planning to improve communication with the social communities and in this regard, social media is a good platform for improving both way interactions. Costa Coffee needs to promote the products and services through creating short videos and uploading it on Facebook which is the most popular application that people are using in the recent years. Additionally, posting attractive pictures on Facebook and Instagram are helpful for improving engagement with the social communities (Tuten, and Solomon, 2017) (Refer to appendix 2). The company can share effective information regarding the organisational products, services and prices that they offer to the customers which further provides a scope to the brand to attract more audiences in the societies. Moreover, arranging social media campaigning is another tactic for engaging with the customers in the society and it further helps to attract more audiences where the people can identify the brand and access the products and service of Costa Coffee.
Creating a personal plan to improve your own communication skills
It is necessary for me to improve communication style so that I can share my views and understanding with others in the workplace. In this regard, I try to improve my technical skill to interact with the employees and managers and in this regard I try to utilise ICT so that it is easy to communicate with others. Moreover, it is required to improve English so that I can speak fluently and in this regard I try to communicate in English though there are some mistake and hesitation while interacting with others (Business Essentials, 2013). On the other hand, I aim to improve my writing skill so that I can express my understanding through e-mail to the senior managers. In addition to these, positive attitude and interactive behaviour helps me a lot to communicate with others and improve my performance in future. Apart from that, I try to participate in the general meeting of the company and training sessions that the organisation Costa Coffee arranges and I aim to express any views openly in front of others and do my queries to the management team and this further helps me to improve my communication (Refer to appendix 3).
Reporting on the current method of data collection, formatting, storage and dissemination at Costa Coffee UK
Collecting effective data and market information is necessary for the company Costa Coffee where it is possible to gather proper information for future market analysis and improvement of the organisational products and services. In this regard, the company collects the data from common discussion forum where the customers and other people communicate with each other and provide their feedback about the organisational products and services. Moreover, the company website of the Costa Coffee is effective to collect data where the customers provide feedback about the purchase and their experience about the organisational products. The company Costa Coffee uses Microsoft dynamics NAV and SQL for managing big data in the company and additionally the employees are well organised for managing the data through storing and monitoring the information (Law, Buhalis and Cobanoglu, 2014) (Refer to appendix 4).
Conducting appropriate changes to improve on the above identified methods in AC4.1 for Costa Coffee UK
The company needs to improve their data management and controlling tools and in this regard the company needs to focus on the cloud computing which is better strategic planning to run the operational activities successfully. Moreover, the company needs to hire efficient technical head who can restore the pages if crashes as well as resolve the issue of website hacking. Changing password and managing the website of the company are helpful for the organisation to develop effective data management practice on the firm and run the business strategically (Fu, Tanyatanaboon and Lehto, 2015).
Implementing users-friendly strategy that can improve access and usage of systems in Costa Coffee UK
The organisation Costa Coffee needs to develop effective strategy which is user friendly and it provides a scope to the organisation to manage the big data in long run. Target the users and retain them through communicating so that they can spend more time to search authentic information regarding the company (Gutteling, 2015). In addition to these, the company needs to implement authentication system for ensuring that the data and information are relevant and true. This further helps to improve security and manage the customer’s data successfully. Authentication needs to be maintained where the data can be protected by the organizational representatives. Moreover, the company needs to hire technical expertise for cloud computing so that they are efficiently handling the operational activities successfully. In this regard, the organisation Costa Coffee also must provide effective training and development program to the employees so that they can improve their technical skill and knowledge to perform better and improve innovation in the organisation through managing communication and knowledge sharing (Cardon and Marshall, 2015). Recovering the data is also necessary where the employee must concentrate about recovering the data if lost (Ocasio, Laamanen, and Vaara, 2018). Fear of loss is another issue due to crashing and in this regard experts need to handle the organisational activities so that the technical proficiency can be improved and the data can be stopped and managed systematically.
Potential benefit of improving data systems of Costa Coffee in UK
The data management system is beneficial for the company to increase the sales volume of the company where the improvements are effective to manage and control the data. Costa Coffee can investigate and collect data from the external sources and develop own strategic planning for gaining high competitive advantage over other competitive firms (Whitebread, 2013). The information technology is also beneficial for the company to improve communication and enhance trust and loyalty among all the stakeholders engaged with the firm. In addition to these, improving decision making practice is also another advantage of such improvement in the data management system where the senior management team can analyse the current situation of the company and develop effective tactics for expanding the business sustainably.
Customer satisfaction is one of the major concerns of all the corporate firms and in this regard, the organisation Costa Coffee can manage the customers in log run by evaluating the customer’s feedback and improving the services of the Costa Coffee. This strategy further helps he managers to improve the satisfaction level of the customers as the company focuses on developing customer centric business model to deliver the best quality products and efficient services according to the needs and preferences of the customers. Data analysis and collection of appropriate data as well as communication with the customers provides a scope to the managers to acknowledge their preferences and aim at maximising their values successfully. The improvement of the data management system can be conducted in a cost effective way and that is why another advantage of such improvement is that the company can save their cost and utilise it for extra software instalment and data management
Costa coffee aim at managing communication and sharing information so that it is possible to develop appropriate strategic, tactical and operational decision for running the organisation sustainably in long run. the organisation tries to gather information regarding ,market condition, customer’s preferences and industry growth as well as competitors so that it can manage their operations for gaining high competitive advantage. The aim of the company is to launch new product to attract more audiences and so that it is possible to strengthen their customer’s base. In thi9s regard, they need to manage online sources, social media and company website for managing the customers as well as operate the ICT and SQL for managing the data of the company. These improvements are beneficial for the Costa Coffee as it provides a scope to the company to increase sales volume and profitability as well as enhance customer satisfaction and improve business performance of Costa Coffee.
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The above mentioned values also influence the company Tesco to for proper strategic planning through which they can maximise their vision and mission statement (Tesco, 2018c). Understanding the people including the customers, colleagues and community is necessary and in this regard Tesco focuses on listening the perspectives of all the stakeholders so that they can firm appropriate planning to meet the demand of the stakeholders (Tesco, 2017). In this regard, the company also aims at treating the people fairly as per their requirements and in order to maximise trust and loyalty, Tesco concentrates on,
- Work as a team
- Share knowledge and experience
- Listen and support the stakeholders
- Trust and respect each other
These are efficient to meet the organisational values and Tesco mainly focus on its aims and objectives so that it can run their business activities strategically (Tesco, 2018d). The above mentioned aims, objectives as well as vision and mission are therefore beneficial which influence the company to develop appropriate strategic planning for securing future sustainable development (Tesco, 2016).
The company also has crucial core competencies which are also advantageous as it provide an opportunity to Tesco to form proper planning for running the business activities strategically. The core competencies are such as,
- Making the life of the customers easier to live healthier
- Sourcing great quality and affordable products
- Making positive contribution to the society
These are the main strategic planning through which Tesco tries to achieve the vision and mission of the organisation (Tesco, n.d).
Analyse the factors that have to consider when formulating strategic plans
The above mentioned vision and mission of Tesco is the main factors that influence the managers to develop an effective strategic planning. In addition to these, the values that the organisation set are the second factor that leads the company towards developing an essential business strategic planning through which it is possible to meet the mission and vision of the company (Tesco, 2014). The environmental concern is the third factor where the company is raising awareness about the positive environmental footprint and this is important in establishing a good strategic planning where the company can achieve environmental sustainability. The fourth factor that is effective in formulating strategies planning is the tag line of Tesco which is ‘’Every little helps’, which influence the company to increase innovation and creativity to serve unique service to the customers that will maximise the values for all the customers (Wearden, 2014). The SMART goals and objectives of the firm are also other factors that are considered to be important to set appropriate strategic planning which further provides an opportunity to Tesco to run their operational activities strategically across the globe. The company is also concerned about the competitive advantage and in this regard it is another crucial factor that also motivates the managers of the company to set effective strategy so that high markets hare can be achieved. Hereby, the vision and mission as well as values and environmental sustainability are the crucial factors that influence the organisation to formulate effective strategic planning so that the pre-specified aims and objectives of the company can be achieved.
Evaluate the effectiveness of two techniques used by Tesco in developing strategic business plans
The two technique of Tesco are such as effective leadership and management and managing commitment to being a responsible retailers. These two techniques are beneficial for the company for developing effective strategic planning. Among the two techniques, the second technique, managing commitment to be a responsible retailer is more crucial as compared to previous one as it influence the managers and the employees to develop appropriate strategic planning so that the aims and objectives of the company can be fulfilled. The company needs to develop effective business planning to run the business sustainably and the technique of managing the commitment provides a scope to Tesco to satisfy all the stakeholders and run the operational activities fairly. Managing commitment is an advantageous tactic for the company which influence the managers to develop proper business planning so that all the requirements and preferences of the stakeholders can be fulfilled and it is possible to satisfy them so that the firm can retain them for long run and operate the organisational activities across the international markets sustainably (Slack, 2015).
Analyse the strategic position of Tesco by carrying an internal audit
SWOT analysis, core competencies of the company is helpful to conduct internal audit and stakeholder’s analysis in this regard is also beneficial to identify the ways the company can manage their stakeholders. Through internal audit, it is therefore possible to understand the strategic position of Tesco, which is necessary further to develop effective strategic planning in near future so that the company can achieve their aims and objectives. Through the SWOT analysis, it is easy to understand the strategic position of the brand and for Tesco, bran reputation and wide presence in international countries are the main strengths of the company to run their organisation strategically. On the other hand, the company has the multi strategic format where it operates through supermarkets, hypermarkets, discounted stores and convenience stores. Large stores, availability of the products and operational efficiency are other strengths through which the company can develop strategic planning for running the business sustainably (Wood, 2014).
The major weaknesses are negative media coverage, low profit volume and weak presence in many emerging markets. On the other hand, the opportunities are increasing demand for retail items as well as rapid growth in e-commerce. Moreover, the innovative digital media for promotional activities and market expansion are other opportunities through which Tesco can run their business sustainably (Kantar World panel, 2015). There are some threats such as economic recession, rising cost of raw material and high competition which may raise difficulties for Tesco to develop effective strategic planning. As per the above analysis, it can be stated that, the strategic position of the company is strong where the organisation has the capability to maximise their performance to manage all the stakeholders successfully. On the other hand, the stakeholder’s theory is appropriate for internal audit of the company which further provides a scope to evaluate the company’s activities what has been implemented by Tesco for managing their stakeholders.
As per the stakeholder’s theory, the company develops effective strategic planning to satisfy the stakeholders. In this present case, Tesco focuses on listening the perspectives of the stakeholders including, customers, employees, managers, other staff members, government, social communities and suppliers where the organisation aims at satisfying all the people engaged with the business. Monitoring their behaviour, motivating them and sharing information fairly are the tactics of Tesco to satisfy the stakeholders and retain them for long run. The activities are effective where it provide a scope to Tesco to develop effective strategic planning further top meet its aims and objectives. The core competencies are also important for internal audit and through steering wheel of Tesco; it is possible to understand the capabilities of Tesco in developing effective strategic planning in near future.
As per the steering wheel of Tesco, there are people, community, operations, customers and finance through which the company tries to create values for all the stakeholders. Managing responsibility towards the community, maintaining operational efficiency, investment and maximise profitability, improving trust and loyalty among the customers are the tactics of Tesco to improve their strategic position so that they can develop and implement effective planning for further organisational growth.
Carry out environmental audit for Tesco
For environmental audit, PESTLE analysis of Tesco is beneficial where it is possible to evaluate the external environment for doing the business of the organisation
Assess the significance of stakeholder analysis for Tesco when formulating new strategy
The stakeholder analysis is useful in order to understand the strategies of Tesco that it has implemented for managing all the people engaged with the business. The company is efficient in maximising satisfaction level of the stakeholders and the company is capable of developing an effective strategy that would improve stakeholder’s value in near future. Building trust and loyalty through communication and cooperation is the tactic of Tesco in meeting the requirements of the stakeholders where it is possible to retain them for long run (Haddock-Miller and Rigby, 2015). The stakeholders in this regard are also effective to contribute positively in the strategic planning of the organisation so that the pre-specified goals and objectives of the company can be maximised. The stakeholders are cooperative to maximise the profitability and sales volume of the company by retaining more customers for their quality products and services (Wheelen et al., 2017). The company is also effective to fulfil the needs of the stakeholders by making the business transparent and fair where the stakeholder’s values are maximised well. Hereby, the stakeholder’s including the customers, employees, and government, social communities, managers, shareholders and suppliers play crucial role in achieve organisational success through proper leadership and management as well as implementing the strategic planning successfully.
Using the case study and the research information present a new strategy for Tesco
Tesco is capable of utilising their strengths and resources for developing an effective strategic planning for sustaining in the business sin future. The strategy is to expand the company in Qatar is one of the attractive markets for establishing the business. The company can expand their business through this strategy and strengthen their customer’s base. This is an effective strategy that will help the company to maximise their profitability volume and sales units through successful expansion of the business in Qatar. Qatar is developing rapidly and it further provides a scope to establish a business and run tits operations successfully due to political stability and economic growth. The market expansion is the main strategy through which the company can secure sustainable development in near future. Through market entry, the company can establish their stores in a new market and gain high competitive advantage over other competitive retailers in Qatar. It is also possible to maximise the organisational aims and objectives through market expansion strategy where the company can create stakeholder’s value and retain them for long run. This is effective for sustainability of the business where the managers and owners of Tesco can run their operations in Qatar successfully.
Tesco needs to develop effective strategic planning for appropriate strategic evaluation where it can utilise the future opportunity of effective market expansion which further provides a scope to sustain in the business successfully. In this regard, the first strategy is to export the products of Tesco and establish a physical store in Qatar. The second strategy is strengthening online activities through online promotional technique for retaining the audiences in Qatar. These two strategic planning is effective for the organisation Tesco, to enter into new market Qatar and gain high competitive advantage. The first strategy is appropriate as it helps Tesco to export their products to the international market through establishing a physical store where the customers can see the products and make effective purchase decision.
Opening a discounted store of Tesco in the international market is beneficial as it helps to target the potential buyers and retain them for the quality products and services. As Tesco focuses on lower price strategy, it is also advantageous for the company to retain the customers and attract them for quality products at affordable price. This strategy is also effective for gaining high market share in the new international market and improves competitive advantage in the international retail industry. Through opening store in the new market, the company is able to improve trust and loyalty among the customers as well as other stakeholders and create strong retail network in the nation.
On the other hand, the second strategy of improving online presence in Qatar is another effective tactic for market entry and high competitive advantage. The demand of online activities is increasing rapidly across the international market where maximum numbers of customers prefer to purchase quality products from online and e-commerce where they can see the availability of the products of a particular brand and choose the right product from home as per their choice and preferences. Hereby, it is an appropriate strategy for Tesco to improve the online presence of the company in the new international market where it is possible to retain more customers in the local market. In this regard, the company needs to focus on promotional tactics for improving online presence and the strategy of promoting the organisational website and products in the new international market is beneficial for Tesco to increase market share and enhance competitive advantage in near future.
The promotional activities through online is also beneficial where the customers can interact with the representative of the company and it will be helpful for the staff members of Tesco to deliver efficient service by acknowledging their actual needs and preferences. This is also effective for improving understanding about the customer’s requirements and it also provides a scope to build strong corporate relationship with the customers in the new market. In addition to these, the online activities and promotional tactics also give a scope to Tesco to improve brand visibility and attract more customers for their quality products and efficient service. In this regard, Tesco also needs to strengthen their supply chain in order to improve online presence of the brand in new market place. In this regard, efficient distributors and suppliers as well as proper supply chain network are helpful for Tesco to distribute their products as per the customer’s requirements.
Justify one of the chosen strategies
Both the strategies are useful for Tesco in order to expand their business and gain high competitive advantage, but the second strategy is more effective for Tesco in order to improve their market share and expand the business internationally. The strategy is ‘to maximise online presence of Tesco through online branding’. Online activities of the company are one of the major tactics of the corporate firms for attracting the local customers and strengthen their customer’s base successfully. Through this strategy, the company can increase brand visibility band enhance market communication in the new market place where all the customers can interact with the sales person of Tesco and gather effective feedback regarding the products and services. Improving promotional tactics and strengthening the company own website is also beneficial where Tesco can be efficient in positioning the brand successfully. In addition to these, it is advantageous for Tesco to choose the strategy o increasing online presence through promotional tactics and strengthening supply chain network as this helps the brand to distribute the organisational product and enhance the sales volume and profitability of the company. Hereby, through his strategy, the organisation Tesco will be able to maximise their business goals and objectives and create values for all the stakeholders engaged with the business.
Understand how to implement a chosen strategy
The recommended strategy for Tesco is to improve online presence of the brand so that it is possible to retain more customers for their business and it further helps to expand the business internationally and gain high competitive advantage. In this regard, the role of the engineer and IT managers is to develop effective website for the company by utilising hardware and software. It is their responsibility to manage the customer’s data and protect it so that the consumers can trust the organisational entity to share their personal information for transaction. Customer relationship managers plays a crucial role in this regard to provide 24*7 service to the consumers and resolve their queries and it further helps to retain the customers and improving customer’s loyalty.
The sales person needs to handle the clients and understand their actual preferences so that the quality products can be delivered as per their requirements. Additionally, the managers plays a significant role in strengthening their supply chain in the new international market so that it is possible to distribute the products and deliver it to the customers as per their needs. Moreover, the marketing experts need to develop effective content that will be helpful to attract more clients in the market. Simple and attractive content in this regard helps to improve customer’s conversion rate where the customers can choose the option and order their products successfully. In addition to these, it is also the role of the marketing experts to improve search engine optimisation and retain the clients through cooperation and communication so that it is easy to increase conversion rate (Hill, Jones, and Schilling, 2014). The marketing mangers also need to be concerned about social media advertisement so that it is possible to promote the brand through social media platform and interact with the customers directly.
Analyse the resource requirements you will need to implement a new strategy at Tesco
The company Tesco needs to invest more in improving the online activities and in this regard the main resource that is required is financial resource which is necessary for implementing the strategy. In addition to these, the company needs to implement the Information and Communication technology as well as strengthen the Information Technology (IT) infrastructure. In addition to these, human resource is one of the major resources which are required to implement the planning in Tesco where the organisation needs to for managing the digital activities. Computer engineer as well as the IT manager is required to handle the technology and develop the company’s website successfully. Moreover, the company needs to manage copyright and Data Protection for successful branding of Tesco through improving online activities. Effective software is required in the company through which the engineers and managers can handle the online branding of the company Tesco. In addition to these, Hardware is also another resource which includes computers, Wi-Fi, internet LAN connections, CPUs and Monitors to handle the online activities of the company.
Evaluate the contribution of SMART targets to the achievement of strategy implementation at Tesco
These activities are the major targets which will help the company to implement the strategy of improving online presence in the new international market where aims and objectives of Tesco can be achieved sustainably. Creating professional website is necessary through which the company can promote their products and service that they offer to the customers. Secondly, developing search engine optimisation and increasing conversation rate through enhancing communication are also essential for Tesco so that it is possible to improve online branding. Additionally, sending personalise email to the customers will be beneficial to improve trust and loyalty and apart from this developing effective content for the company’s website is also beneficial to attract the customers in the new international market. Moreover, the target of maintaining customer relationship management and supply chain management is also beneficial for Tesco to implement the above mentioned strategy successfully. In this regard, through SMART analysis it is possible to evaluate whether the targets can be achieved successfully so that the main strategic planning of improving online branding of Tesco can be achieved.
Tesco has the capability of utilising financial and human resource to develop effective IT infrastructure and deliver high quality products and services at affordable price. In this regard, the best strategy for Tesco is to improve online presence through developing company website, search engine optimisation, strengthening supply chain and e-mail marketing which are beneficial to improve customer relationship management.
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