The Application of Bowan's Strategy Clock Used To Assist Organization Essay

The Application of Bowan's Strategy Clock Used To Assist Organization in Making Strategic Choices - Essay Example This research will begin with the statement that achieving a competitive advantage over rivals is perhaps the most important business strategy that business houses wish to achieve. In almost every industry including the retail sector, competition among rivals is very high. According to the views of Michael Porter, there are primarily three different strategies that are employed by organizations, namely product differentiation, cost leadership and market segmentation. Michael Porter’s generic strategies have been widely debated over exact meanings of the terms proposed by him. It was for this reason that the strategic clock model developed by Bowman and Faulkner has been widely employed to describe ways in which a firm can have the competitive advantage over its rivals. Tesco is the third largest retail store chain globally and the largest in Britain. The origin of the business can be traced back to 1929 when the first store was opened in Britain. In less than thirty years from commencing its operation, Tesco had become one of the most prominent food retailers in entire U.K. Since the 1990s, the company had begun venturing out of U.K. as well as diversifying the products offered. Presently, the company operates in 12 countries across three continents, namely North America, Europe and Asia. During its initial days of operation, Tesco had focused on aspects of grocery retailing. However, with time, the business had expanded from food retailing to include a wide range of products and services. Some of the products and services offered by Tesco include retailing of electronics, books, clothing, petrol, and furniture. The services offered include renting out of DVDs, financial and telecom services and internet services. Tesco had showcased innovation not only in types of product offerings but also by developing the new concept of stores. Some of the diversified store structures that have been introduced by the organization over time include Tesco Metro stores specifically to meet requirements of local shoppers based in metropolitan areas; and Tesco Express, which is a petrol station based store for the convenience of customers.