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An evaluation of the business information used to make strategic decisions at Tescos

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Introduction

D1: An evaluation of the appropriateness of business information used to make strategic decisions?. TESCO: Finance: Finance function includes keeping the records of financial activity, for example, sales made by the business. It provides managers with information that they can use in decision making, for example, the cost of creating products. The chief accountant supervises the work of the accounts department. The managers need to be constantly aware. Accounts can be divided into two sections: Financial accounting which is responsible for keeping records of financial events as they occur. Management accounting which is responsible for supplying information that helps managers make decisions. This includes working out production costs. The finance function requires information relating to finance like the money spent and the money coming in the business. The finance even uses the information about how the money is being made by the business. ...read more.

Middle

Then they take a decision if they are capable of making this product or not. The information they use to make decisions is appropriate because they have public search. They have internal and external resources like they have research, database company performance. Businesses produce three sort of financial records income statement, balance sheet and statement of cash flows. The income statement shows all items of income and expense of the business. Balance sheet shows assets= Liabilities +Equity. Tesco uses information from the bar graphs, pie charts and spreadsheets. They are the correct figures given by businesses. * Marketing: Marketing function is responsible for identifying, anticipating and satisfying customer requirements. Marketing involves carrying out market research to find out which types of customer make up a particular market, what they want, where they want it, how they like it and what price. Marketers have an important say in deciding the products that the company produces, the prices charged, the promotions designed to encourage customers, the place where goods are sold. ...read more.

Conclusion

The products of Tesco are sold in the Tesco stores or online on Tesco?s website. The products sold on the internet can be delivered to the store and the customer can collect them from there and they can be delivered to the person?s house but that will have tax charges. In the stores the person can see the material but on the website the person can?t see the material. The products on internet are mainly the latest products. The marketing function requires internal information and external information. It can give information about the results of research undertaken by the company, the success of previous marketing campaigns and promotional activities, as well as information about the market the organisation currently operates within. The marketing function uses written and web based information. They use the information like the researches about how other organisations are producing the product. Tesco will also use government sources. Tesco has to decide what sort of product they need to introduce to the market and the information used is accurate. The information used is appropriate. http://www.thecorneroffice.co/wp-content/uploads/2010/09/tesco-online-shop.jpg ...read more.

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