Regarding presentation, we were instructed to choose a brand (product or service), act as specialists in that brand, and then present our findings and ideas. Our group selected Tesco Plc, one of the largest companies in the UK Supermarkets market. To analyze the macro, micro, and internal environment of this brand, we utilized important tools such as PESTLE/PEST, SWOT Analysis, Porter’s 5 Forces, and BSG Matrix. Finally, we were tasked with writing an essay based on our analysis.
The purpose of this reflective essay is to reflect on the findings of either an individual or group presentation. The focus will be on the logical and rational recommendations, potential outcomes, estimation of methods and tools. According to Jobber (2010, p. 98), PESTLE or PEEST Analysis is defined as the analysis of the political/legal, economic, ecological/physical, social/cultural, and technological environments and their potential impact on the strategic development of a business.
PEEST Analysis is a valuable strategic tool for analyzing the factors that may affect a company’s performance. It helps in examining the current business position, understanding market growth or decline, and summarizing the external environment of a specific business or company. However, it is important to note that the data utilized in the analysis may be based on unfounded or incorrect assumptions.
Regularly analyzing needs is necessary to achieve effectiveness. SWOT analysis, a renowned tool for this analysis, evaluates the current strategic situation of the company and its environment. It serves as a basis for estimating internal progress and limitations, as well as potential opportunities and threats from external factors (Management Study Guide, n. d.).
During the preparation for a presentation, I have realized that SWOT Analysis is a crucial element in forming and selecting strategies. Although it is a powerful tool, it is based on personal opinions and feelings, so it should be used as a guide or example rather than a recommendation (Queensland Government, 2012). However, anyone with business understanding can perform a SWOT Analysis, which can enhance the comprehension of their business and aid in setting business objectives and strategies to achieve them.
Porter’s 5 Forces is a strategic model that examines and categorizes the 5 competitive forces in an industry – competition, new entrants, suppliers’ power, customers’ power, and threat of substitutes. It is useful in identifying strengths and weaknesses within a business (Tutor2u, n. d.). Personally, I have found this model to be effective in showcasing Tesco Plc’s competitive advantage over its competitors.
Additionally, through self-reflection and evaluating various factors affecting Tesco Plc, I examined the company’s capacity to consistently yield profits in the industry. This was achieved by delivering exceptional service, offering a wide selection of locally produced goods, and fostering customer loyalty. However, it is important to acknowledge that this approach does have certain limitations. It has been observed that this methodology faces additional constraints in today’s market conditions due to its assumption of rigid market structures and current economic predictions.
The original model of this analysis was created in the 80s to consider the economic situation and strong competition at that time. However, it does not account for new business models, technological advancements, or current global economic instability. Another tool used in the presentation was The BSG Matrix or Boston Consulting Group Analysis, a two-dimensional matrix used to develop a business plan for large companies like Tesco. This matrix categorizes business units into cash generators and cash users. When applying this method to Tesco Plc, it is found suitable for analyzing such a large company as it categorizes products into four areas: Stars (high-growth products), Cash Cows (low-growth products), Dogs, and Question Marks. These categories are based on market share and market growth.
Our findings allowed us to pinpoint the areas where Tesco Plc encounters difficulties, particularly in the Clothing and Technics departments. These findings served as a basis for our recommendations during the presentation. It is crucial to acknowledge that the tools and methods employed in the presentation played a key role in identifying Tesco’s challenges.
After analyzing the statement, we have identified key areas that Tesco Plc should focus on to achieve growth, profitability, and customer loyalty. These areas encompass the online shopping market, as well as the music and video markets. Despite limitations in our analysis tools which prevented a complete understanding of the situation, their combination offered a robust method for evaluating the company’s performance. To conclude, I would like to confirm that our group delivered a successful presentation.
Although my partners may have been hesitant about conducting this research and giving a presentation, I was personally very excited. I had faith in my ability to present the information I had gathered. However, my main worry was how well our group would convey our findings to the audience. This concern stemmed from the fact that each team member came from a different country with unique cultures and personal traits. I feared that our multicultural team might struggle to stay united, which could potentially hinder our work. Despite all these concerns, we diligently prepared, put in considerable effort, and ultimately succeeded as a team.
Referencing:
Jobber, D. (2012) Principles and Practice of Marketing, 6th edition, Berkshire: McGraw-Hill Higher Education. Management Study Guide. 2012. SWOT Analysis – Definition, Advantages and Limitations. [ONLINE] Available at: http://www. managementstudyguide. com/swot-analysis. htm. [Accessed 03 December 2012]. Queensland Government. 2012. Benefits and limitations of SWOT analysis. [ONLINE] Available at: http://www. usiness. qld. gov. au/business/starting/market-customer-research/swot-analysis/benefits-limitations-swot-analysis.
[Accessed 06 December 2012]. Themanager – Management Tools and Models – Management Portal. 2001. Porters Five Forces. [ONLINE] Available at: http://www. themanager. org/models/P5F_2. htm.
[Accessed 06 December 2012]. Tutor2u. 2012. Porter’s Five Forces Model: analysing industry structure. [ONLINE] Available at: http://www. tutor2u. net/business/strategy/porter_five_forces. htm.
[Accessed 06 December 2012].
