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The pharisaic expression behind the term Strategic Management is factual to recognize the necessary strategic approaches effective for adopting the successful approaches regarding the advantageous process of a successful business. Different approaches of the company named TESCO will be discussed here. The stability in a business can be gained by giving proper value to the customers and the employees as they are one of the important stake holders of the company. By the view of Youn et al. (2017), every person in the supply chain should be given equal importance and the investors should be provided with proper knowledge of the product. TESCO has been successful in these approaches to an extent and hence they have become one of the largest in their respective business.

Sustainable approach

There are many ways in order to grow a business sustainably as the growing of a sustainable business is very in order to get the positive outcome. The business organizations first have to pay attention to the section of employees as they are the main people who are behind the sustainable growth of a business organization. As per the opinion of Loeillet (2017), Sustainability is very important for business organizations as it benefits the company or organization in the long run. This type of approach named sustainable approach is a kind of approach that deals with introducing ideas that will bring harmony in the environment of the work field and will bring mental satisfaction in the employees in order to get the best outcome from them. These strategies will help the company or business organization in the future. The sustainable approaches of the company TESCO will be discussed here. This company deals with food retailing and its popularity is huge to be specific, it is one of the big names in the food retailing industry. It is mainly based in UK. According to the view of Lavorata and Sparks (2018), the providing of proper quality service to the customers and finding a solution to the problems that the customer faces while purchasing a product or while taking a service should be focused by the company. It is one of the serious things that need attention in order to grow a business sustainably. By the opinion of Zhou (2017), the clarity in communication between the employees and the organization regarding the desired target of the company is very important as the employees could work accordingly. On the other hand, the company TESCO should pay proper attention to the needs of the employees that means the organization should look into the basic needs of the employees that is salary, providing pensions after retirement to the employees. According to TESCO, the customers are given immense importance as their business outcomes is mainly dependant on the section to whom the service will be provided. In short, this company mainly gives value to the loyalty. They have their own strategies of boosting the employee in order to get hard work from them as the outcome. The company Tesco believes in the term belief so that is why they have reached the top position. The focusing on the loyalty of the employees is one of the strategies of the company in order to make the growth sustainably. 

TESCO initiated the business in order to get a positive feedback from the customers by providing them high quality foods. This was their basic target at the time of starting their business and they tried to maintain the consistency. TESCO is a very big name in their respective fields because they have achieved it by implementing various strategies of attaining sustainability. They have maintained many things and had used many strategies for reaching the top. This company has valued their customers and the employees and that is the secret of their success. They have provided good amount of salaries to the workers or the employees which will mental strength to them and will boost them to work hard for the company. According to the opinion of Bourne et al. (2017), the employees or the workers also have some needs that need to be addressed as they also have some financial problems and they have joined this renowned company in order to eradicate this problem. The main thing is providing offers to the customers and attracting them to the company. Providing of high quality foods to the customers is one of the strategies of TESCO for the sustainable growth of the company. TESCO have properly screened the desires of the customers and they know exactly what the customer wants. By the view of Ng et al. (2019), the companies should communicate with the workers or the employees clearly about the targets of the company and in what ways the targets will be met. This is one of the beneficial things which will take a business organization forward in order to reach the sustainable position. There was a time when TESCO faced problems in the financial sector. They tackled it by conducting meetings with the workers or the employees. This communication will help to bring innovations in the business organization by introduction of new ideas. Sustainable approach is very beneficial for the company in the long term.

Stakeholders approach

Stake holders are the section of people who has shares of the company’s profits. To be specific, there are two types of stake holders which are internal stakeholders and external stakeholders in which the internal stakeholders constitutes of the board that manages every aspect of the company, employees and the administration body. On the other hand, of the external stakeholders constitutes of the section of people who are suppliers that is the supply chain, the investors who invested in a particular company for a better outcome. 

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