Tesco shall maintain a clear vision related to the change and it should be communicated to all of the employees throughout the organization. To formulate the vision for a change, Tesco must set a significant value change.
A two or one-sentence vision statement should be defined, such as the vision statement of Tesco is ‘every little help’. In order to implement that specific vision, a plan should be prepared. As, change in an organization is only possible through a vision that provides a possible picture of what is real and what can happen in the future. The vision generated by Tesco must also be central to the levers of change and the strategies should be developed to execute the vision.
For example, Tesco can formulate a corporate strategy that examines the anticipated and current factors linked with the competitors and customers envisioning an effective or new role for the company in a creative method. Moreover, Tesco should provide a short summary of its future vision and exceptional practices must be conducted related to the vision of the coalition.
The change vision of Tesco will be ‘to be the best value retailer exceeding the needs of customers, globally’. To accomplish this change vision, certain goals and strategies will be implemented. To assure that everything required by the consumers is provided by the company from their weekly stalks.
These stalks will be supplied through a consistent flow of newly innovated products that can fulfil the customers’ needs effectively. Moreover, this change vision will be led by a business strategy. This strategy will be centred to the values, purpose, and mission of the company, which will eventually guide the company and its employees to make it a better organisation. The strategy will critically focus on the shareholders, the employees; the company’s operating model, and its customers.
Increasing return on investment (ROI) along with the profitable growth will be presented to the shareholders. The ROI will be enriched through the means of new channels, new formats, and core stores along with the growth of the company. The operating model will be based on the low-cost business model. This will eventually help the company in lowering its prices competitively and increase its productivity.
The strategy will also focus on employees that are providing them with an excellent place to work with. With respect to the customers, the strategy will focus on Tesco becoming their first choice. For this, the company will crucially focus on five main pledges, such as trust, quality, availability, and happy to help.