Tesco's 'Steering Wheel' - A Tool for Strategic Value Creation and Business Transformation
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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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The case examines Tesco's 'Steering Wheel' which is Tesco's version of the
Balanced Scorecard (BSC). The concept of BSC was developed by Dr. Robert Kaplan
and Dr. David Norton in the early 1990s. BSC proposed that organizations should
be mission-driven rather than finance-driven. BSC proposed to convert strategy
into an integrated management system defined across finance, customer, internal
processes, and learning & growth. The case discusses how Tesco developed the
'Steering Wheel' from the BSC and used it as a tool for strategic value creation
and business transformation. The 'Steering Wheel' was used to communicate
strategic goals and objectives across all the levels of the organization and to
measure corporate performance.
The 'Steering Wheel' played a crucial role in
transforming Tesco of the 1990s - then the third largest
retailer in the UK, with not much of international presence - to
the Tesco of 2007, which is among the top retailers in the
world, and the #1 retailer in the UK with a market share of over
30% and operations in over a dozen countries across the world.
» Understand Tesco's Steering Wheel and its impact in steering Tesco ahead of
» Understand how implementation of Balanced Scorecard techniques can help in
improving the performance of an organization.
» Appreciate the role of senior management in initiating and implementing
business transformation initiatives.
» Learn the importance of goals and strategies in guiding any organization.
Tesco, Balanced Scorecard, Tesco Steering Wheel, The Tesco
Way, Core Purpose, Values, Principles, Goals, Quadrants, Key Performance
Transformation through Innovation
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