Task Details/Description:1.TESCO is a British multinational groceries and general merchandise retailer with headquarters in Welwyn Garden City, Hertfordshire, England. In recent years, TESCO has faced growing competition from hard discounters, such as Lidl and Aldi, which has resulted in a fall in TESCO’s profits and share price. TESCO needs to respond to this competitive threat with an appropriate strategy in order to build the foundations for a successful future. Your task is to aid TESCO from the strategic management perspective by drawing on relevant strategy frameworks and concepts from the module. To complete this task, you must address each of the following:2.Assess the corporate environment of TESCO in the UK using PESTEL and five forces3.Identify the key resources and competencies that TESCO can use to gain competitive advantage4.Discuss the most critical strategic choices that TESCO can makePlease note that whilst the scenario is a practical one, and should adopt a formal academic style when writing the report, using citations to support the analysis.*** Words count = 1000 words.*** In-Text Citations and references using Harvard style.*** Use Academic Journals.
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