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Information and knowledge management is the structure of developing, capturing and sharing information and effectively by using organizational knowledge. It helps in achieving the organization objectives by making the best use of the knowledge (Maier, 2007). However, knowledge management mainly focuses on achieving the organizational objectives such as improved performance, competitive advantage, innovation and continuous learning and improvement of the organizations (Yew Wong, 2005). The purpose of this report is to mainly focus on the key information that is used by the organization with respect to knowledge management. For example, Tesco, a large retail organization is using this strategy to implement their objectives and goals by determining the information and knowledge management as a key indicator.
Tesco, a multinational food retail company headquartered in UK has stores in 12 countries across the world (Tanriverdi, 2005). Tesco is generally known for selling food and non-food products and also provides various services such as hardware, mobile, insurance and many more. To understand the environmental issues which can affect the organization, Porter's Five Forces and PESTLE analysis is done to implement the objectives. Tesco's objective is to implement Re-positioning the image by improving the outlets, warehousing facilities, stock control and administration systems.
Porter's Five Forces model helps them to analyze the level of competition within an industry and business strategy development.
Competitive Rivalry – Tesco faces an immense competition in the global sector with respect to the growing demand for innovative services, product differentiation and diversification (Maier, 2007). In UK, Tesco has invested immensely in terms of capital to maintain the highest stake in the market share. Retailers like ASDA, Sainsbury are giving tough competition in the local UK market where company have to compare the prices and products with them to ensure Tesco offers more value added products.
Threat of new Entrants – Big Retailers such as ASDA, Sainsbury, and Tesco are facing challenges of new Entrants that can affect the sales , cost of conversion and channel; also dominates in the US market (Newell, and et.al, 2009).
Threat of substitute’s products and services- The continuous changes in the new technology poses an immense threat to the organizations as it also affect the product and services which are offered in the similar market rate (Ruggles, R 2009).
Bargaining Power of Buyers- There are several factors that can influence the bargaining power of buyers including the level of dependency in the existing distribution channels, price sensitivity of buyers and other factors. Tesco has strategically aligned its performance objectives to provide better prices to the customers by maintaining a satisfied customer base (Maryam, 2010).
Bargaining Power of Suppliers- This element is essential in terms of providing services such as raw materials, labor and other services(Tanriverdi, 2005) . Suppliers can be negatively affected by the increased product and service prices as well as the quality of the same.
A PESTLE analysis identifies the forces that can have a major impact on Tesco performance.
Political Factors- Since the retailing company operates worldwide; the global political factors greatly influence the performance of Tesco. Due to ongoing financial instability in the world, many governments encourage retailers to create jobs for the domestic population (Yew Wong, 2005). Tesco plays its part in creating employment opportunities, it also, in turn, increases the demand for its products and diversifies its workforce (Newell and et.al, 2009).
Economic Factors- These factors are the major concern for Tesco to leverage their costs, demand, profits and prices. However, the company should be aware of any changes that arise in the policies such as changes in the taxation or any other factors that can affect the accessibility of the finance (Yew Wong, 2005).
Social Factors- As there is continuous change in the social factors, customers in the UK have move towards bulk shopping and one stop shopping. Tesco is adopting changes by accommodating the demand for the products (Yew Wo
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