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D1 Evaluate the appropriateness of business information used to make strategic decisions at Tescos

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Introduction

D1: Evaluate the appropriateness of business information used to make strategic decisions Finance Tesco is a global company that operates in 12 different countries across the world. They are a public limited company that operates in the private sector. What types of information the finance department requires? The marketing finance of Tesco mostly requires types of information such as how the business is performing overall. This department uses on-screen communication which allows them to create information like how much profits Tesco has made in their sales the past year, month or even week. They will also be concerned with types of information like how much lost occurred after their sales and overall performance. Once Tesco finds out and analyse their overall profit figure how much lost they made, they use this information to make strategic decisions for the future of the business. The type of strategic decisions they make will depend on how and what the overall performance of the company was. ...read more.

Middle

Another reason why it is appropriate is because it was based on the sales, benefits and loses information the financial department obtained from their on-screen data. Marketing What types of information the marketing department requires? The marketing department at Tesco will need information regarding the marketing activities that Tesco performs in order to attract new customer, to promote new products and services and to communicate offers and deals to customers. This department within Tesco needs all sorts of information including on-screen information, written information, verbal information etc... The marketing department of Tesco mostly requires types of information such as how effective the business?s marketing activities are on their target customers and the general public. This department uses on-screen communication which allows them to allow them to gather the opinion of customers on their activities such advertisements promotions and how this connects with these customers and the general public. The marketing department also uses on-screen information such statistics and graphs which depicts the performance and effectiveness of activities from the marketing department at Tesco. ...read more.

Conclusion

This will in turn allow then to quickly grab the interests of their target customer with their marketing activities. This will also lead them to attract new customers. The disadvantage of this strategic decision is that it will take a lot of time and money from Tesco to acquire information from customer and the public such as feedback on previous marketing activities like advertisements. They will also need a lot of money to obtain information from outside sources such as commercially provided databases, trade groupings and researches. Tesco will also need time to obtain information from their internal sources such as their own customer services. This strategic decision is appropriate because it is based on the information the marketing department from Tesco obtained from their marketing research and the feedback from their customers but also from both internal and external sources. Another reason why this strategic decision is appropriate is because its aim is to improve the performance of the company?s marketing activities which will in turn help them to attract new customers and improve the overall performance of their sales. ...read more.

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