Tesco's 'Steering Wheel' - A Tool for Strategic Value Creation and Business Transformation
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Case Details:
Case Code : OPER067
Case Length : 21 Pages
Period : 1990-2007
Organization : Tesco Plc.
Pub Date : 2008
Teaching Note : Available
Countries : UK
Retail
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
Background Note
Jack Cohen (Cohen) founded Tesco in 1919 using
his bonus from World War I army service. In 1924, Cohen bought a tea
shipment from TE Stockwell. The first three letters of 'TE Stockwell'
and the first two letters of 'Cohen' were used to make up the name 'TESCO.'...
The Tesco Way
In 1997, after becoming the CEO, Leahy announced ambitious plans to make Tesco a
major player in the global retailing market.
His plans were to be realized by -
developing the UK business, delivering value to the customers in the UK by
developing non-food business, developing profitable retail business, and
expanding internationally, which was a part of Tesco's strategy (Refer to
Exhibit II for more about Tesco's strategy)...
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The 'Steering Wheel'
A part of 'The Tesco Way' was the 'Steering Wheel', which formed the core of
Tesco's business planning. The 'Steering Wheel' was a management tool that
directed the focus of business initiatives on delivering the core purpose of
Tesco...
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Steering Tesco Ahead
Tesco's version of the 'Balanced Scorecard' was
simple to understand and permeated down to the store assistants. The 'Steering Wheel' was prominently displayed in all the stores, corporate
office, and all the departments...
The Way Forward
In April 2005, Innovaro voted Tesco among the top 20
innovative companies in the world. Tesco scored high points in criteria
like role of innovation in driving corporate growth, number of product
launches and their success... |
Exhibits
Exhibit I: Top Ten Grocery Retailers (2006)
Exhibit II: Tesco's Strategy
Exhibit III: Tesco's Values
Exhibit IV: Tesco's Principles
Exhibit V: Tesco - Steering Wheel (2004)
Exhibit VI: Tesco - Steering Wheel in a Store
Exhibit VII: Tesco - New Steering Wheel (2006)
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