StudentShare solutions
Triangle menu

Balance Scorecard and Strategy Map of TESCO - Coursework Example

Nobody downloaded yet

Extract of sample
Balance Scorecard and Strategy Map of TESCO

The areas where the implementation has been done and how the company has achieved the vision and the objectives have been analysed in this essay. The report has been concluded with a set of recommendations for the Tesco board of Directors and also an evaluation of the Balance scorecard and the strategy map as a management tool. Introduction The balanced scorecard strategy is one of the most accepted management and strategic planning tool. The balance scorecard is delivered in a structured format with different design methods as well as tools that would help the company in the decision making and strategy formulation. Robert S. Kaplan and David P. Norton has laid the foundation of this balanced scorecard method which takes into consideration not only the financial aspects but also the non financial strategies that are essential for the success of an organisation. Tesco plc is one of the leading grocery retailer based in Britain. In terms of profits the company is second largest in the world. As many as 6351 stores cater to the customers. Tesco has a global presence and has diversified into the financial services, telecommunication services as well as media and entertainment industry. The diversification was not only confined to product but was also done geographically. In order to achieve the success that the brand has got, various strategies had to be taken in the entire life of the brand. This report is an analysis of the different strategies that Tesco had taken in order to maintain it consistent growth and to maintain a competitive advantage among the other brands in the industry. Vision and Strategy The customers occupy a pivotal position in the formulation of the vision and the strategy of the company. The company aims at providing the high quality products and services for the customers. The vision of the company is to get the value for the customers so that the customers become loyal to the brand name of Tesco for their life time. Some of the goals of the company which are ingrained in the minds of the employees include the ideal of doing the best and trying in the hardest way to deliver the services to the customers. Another important aspect of the ideal of Tesco is that the company treats the customer in a way in which the company itself would like to be treated (Tesco Plc, 2011, pp. 4-5). The company from time to time renews and reconstructs the vision. The vision of Tesco is to be the most superior valued company in the global scenario. This high value would not only be confined to the customers but also would be applicable for the employees as well as the communities which Tesco serves. The contentment of the shareholders is also another important point that the company takes care of. For achieving the goals and the vision Tesco implements various strategies that help the companies fulfil the ideals. The company applies the strategy of winning the share of each local market. This strategy is implemented throughout the globe to get a global dominance of the brand. In other words instead of an integrated unique strategy, each of the target markets are captured through taking various strategies in the different markets. The company believes that the retail businesses vary across the globe and a each of the markets have a different characteristic. Thus the local market of Europe would be different from the local market ...Show more


Kaplan and Norton formulated the balanced scorecard strategy and the strategy map in the 1990s. Since then many businesses have implemented this strategy and management tool and have witnessed success…
Author : cronintommie
Balance Scorecard and Strategy Map of TESCO essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the coursework on your topic
"Balance Scorecard and Strategy Map of TESCO"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Tesco and Sainsburys Websites
The two companies specialise in food retailing. Tesco is the largest food retailer in United Kingdom. Its head quarter is in Hertfordshire. It operates about 2,318 stores in entire Europe and Asia.
10 pages (2500 words) Coursework
Management Environment: Tesco Plc

The researcher states that the Process of Business Transformation is considered as a key managerial initiative undertaken by the organisational managers through the effective integration of components related to human resources, technology and the existing organisational processes to the strategic objectives and goals of the company.

11 pages (2750 words) Coursework
TESCO Annual Report 2011
TESCO workforce is approximately 47,000 employees that are scattered in its 4,331 store that are scattered in 14 countries. TESCO realizes the importance of establishing cordial relationships with its customers, business partners, employees, suppliers, and the community that it serves.
6 pages (1500 words) Coursework
Tesco Plc Strategy Analysis
The retail store also provides online services through its subsidiary (Data Monitor, 2004). It is the largest in the UK and operates under four banners: Extra, superstore, Metro and Express. The retail store began as a food store but has since diversified into other areas as clothing and non-food products.
3 pages (750 words) Coursework
Tesco Plc Financial Analysis
Tesco is well known of being the most successful operator in retail groceries and merchandise in the UK. It is rated as the third largest retailer in the world. Tesco also owns fourteen stores with a wide variety. The main reason for the success of Tesco is the various products they deal in, popular products and the brand preferences.
8 pages (2000 words) Coursework
Balanced Scorecard and Strategy Map
The study will highlight the performance measurement objectives, measurements, targets and initiatives for Chevron Corporation using the balance score card model. For every aspect of the balance score card, the measurements, targets and initiatives for Chevron have been defined.
10 pages (2500 words) Coursework
Environmental audit Tesco Plc
Global recession during 2007 to 2009 has substantial impact on the overall retail industry across the world. The external environment determines the outlook of industry and hence it is very important to analyze the external environment in order to formulate appropriate strategy for the organization.
7 pages (1750 words) Coursework
Balance scorecard
The nursery volunteers can employ the BCS which constitutes of non financial and financial measures in order to promote their long term profitability, survival and reduction of poverty in the
8 pages (2000 words) Coursework
Compare Tesco and Sainsbury
Its EPS was reduced drastically in comparison with its 2012 result of £34.98. Sainsbury with £32.6 had a better EPS than Tesco in 2013. Dividends per share measure the amount of dividends paid out during a year (Investopedia, 2015). The dividend per share of Tesco
2 pages (500 words) Coursework
Transforming the balanced scorecard
The popularity is due to its emphasis on the linkage of measurement to strategy and cause and effect linkages that outline the hypotheses of the strategy. It also shows the changing nature of technology and competitive advantage. Modern
1 pages (250 words) Coursework
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
Comments (0)
Click to create a comment
Contact Us