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BTEC Level 3 Business Unit 4- Business communication D1
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BTEC Level 3 Business Unit 4- Business communication D1
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Jahed AhmedBMC000010360
1.0 Terms of Reference
1.1
I will be evaluating the appropriateness of Tesco’s business information
used to make important strategic decisions. These decisions should allow
and enable Tesco to achieve further targets and goals and be more
successful and keep the business running smoothly and effectively.
2.0 Procedure
2.1
I am going to do this by looking at Tesco’s marketing decisions and how
they came to those decisions using market research and what they did in
terms of marketing campaigns. I will also look at Tesco’s financial
performance such as the share prices or company financial data and how
that may have lead to strategic decisions being made. I will evaluate
whether the information Tesco used to make these decisions was
appropriate.
3.0 Findings
3.1
Strategic means long-term or overall aims and objectives and the means
of achieving them. Strategic planning is an organisation’s strategy or
direction and making decisions to pursue this strategy including its profits
and people within the organisation and its customers.
3.2
It is important for Tesco to make strategic decisions and planning because
it will outline the steps to achieve the desired future for them as an
organisation and so that they are able to create a path for them to follow
in the long term so they are able to achieve higher success in the future. A
strategic plan and decision can be adapted to anticipate and manage any
changes that may have occurred such as new laws, new products or even
any changes to the system.
3.3
Market research is any organised effort to gather and analyse information
about markets or customers or the moving of goods and services from
producer to consumer. Market research is a key factor to get ahead of
competitors and provides important information to identify and analyse
the market need, market size and the competition. Market research is an
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