• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17

Business and Management

Extracts from this document...

Introduction

Unit 2 - Organisational aims and objectives - Task 1 In this task I will explain how aims and objectives of Tesco's may be achieved through planning and monitoring. Tesco's is a large organisation; they plan to expand and aim to dominate a good customer service to their customers. Tesco's plan for the future, and take good control of what is happening on a day to day basis. Tesco's mission statement is shown below: "We have continued to make strong progress with all four parts of our strategy - a strong UK core business, non-food, retailing services and international - by keeping our focus on trying to improve what we do for customers: * making their shopping trip as easy as possible * constantly seeking to reduce our prices to help them spend less * offering the convenience of either large or small stores * bringing simplicity and value to complicated markets * being environmentally friendly * offering the latest ranges of products" Tesco's objectives are SMART so that progress can be evaluated and achieved. Objectives are the means by which the business will seek to achieve its aims. If I take the aim of 'being environmentally friendly' then the objectives that can help achieve that might be monitoring levels of waste generated by the business, investing in new technology to help improve efficiency, installing energy saving devices and switching its fleet of vehicles to less polluting fuels. Tesco's will need to monitor its performance in relation to achieve their goals. Tesco's try to factor what is happening in society as a whole in its planning. They reflect to changing trends and fashions in its product range or the service that it offers and if they do not monitor what is happening then it would soon find it self losing competitive advantage. Overall through planning and monitoring they would achieve the aim of offering the latest ranges of products to their customers. ...read more.

Middle

Sainsbury's has recently bought a share of the business for �35 million. Tesco's has always been based on the idea of providing a new market segment, such as non-food offerings, that ranges from clothes, DVD's to holidays and financial services. Tesco's control about a quarter of the UK grocery market, one in eight pounds spent with a UK retailer ends up in Terry's coffers. Tesco's international expansion has resulted in a portfolio of 2,300 stores in 12 countries worldwide, in markets such as Ireland, Eastern Europe and Asia. The leadership and vision of Terry Leahy is combined with good directions of day to day activities, which has lead Tesco's the number one supermarket in the UK. Tesco's have excellent management in their business which also affects the share price of their business. Tesco's is a public limited company; its shares are traded on the stock exchange and can be bought by any member of the public or any other business for example Asda, Iceland or Coop. Tesco's is well managed and has a good reputation; more people will want to buy into success, which therefore this will lead to the share price increasing. Consequences of ineffective management Ineffective management means that managers are not controlling performance so it may decline as in go down. For example Tesco's sales targets may not be reached, or cost may become too high. Ineffective management can also influence the share price, market share or the reputation of Tesco's. The worrying thing about Tesco's is that if the quality of service offered by Tesco's goes down, this can lead to a bad reputation, which therefore the number of customers will decrease day by day and may not want to by any goods or services from Tesco's as there reputation will be bad. People are less likely to want to invest in the company, which will lead to a reduction in their share price. ...read more.

Conclusion

Interpersonal skills enable me to work with others harmoniously and efficiently. Working well with others involves understanding and appreciating individual differences. It also means using those differences to my best advantage. M1 In this particular section, I will show how management activities can range performance in Tesco's. Below are a couple of management activities. * A manager who happens to manage the flat structure of Tesco's. * A manager challenged to make efficient use of resources. * A manager challenged with getting things done through people. * A manager who has opportunity to use of all the tools of management that any other manager uses. * A manager who has a way of life like any other manager. Management is creative problem solving. This creative problem solving is accomplished through four functions of management: planning, organising, leading and controlling. The intended result is the use of Tesco's resources in a way that accomplishes its mission and objectives. Planning is the ongoing process of developing the Tesco's mission and objectives and determining how they will be accomplished. Planning includes both the broadest view of Tesco's, e.g., its mission, and the narrowest, e.g., a tactic for accomplishing a specific goal. Organising is establishing the internal structure Tesco's. The focus is on division, coordination, and control of tasks and the flow of information within Tesco's. It is in this function that managers distribute authority to job holders. Staffing is filling and keeping filled with qualified people all positions in Tesco's. Recruiting, hiring, training, evaluating and compensating are the specific activities included in the function. Directing is influencing people's behaviour through motivation, communication, group dynamics, leadership and discipline. The purpose of directing for the manager is to channel the behaviour of all personnel to accomplish Tesco's. Controlling is a four-step process of establishing performance standards based for Tesco's objectives, measuring and reporting actual performance, comparing two businesses, and taking corrective or preventive action as necessary. Each of these management activities involves creative problem solving and by doing these activities, Tesco's have raisin and performed extremely well in their organisation. ?? ?? ?? ?? ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. I will evaluate the distribution systems in delivering goods and services for a selected ...

    Use of IT IT is always an issue for Tesco as it's such as large organisations and it helps the business in many ways and most important is that it helps them to keep organised. One way it can come to use is the use of barcodes on products this

  2. Btec National Business Level 3 Year 1 - Exploring Business Activity

    Community leaders therefore represent important interest groups. Government: They have their authority to either block, promote or regulate firm activity. They will also can influence or persuade profitability through taxation. E.g. Business rates, PAYE, VAT, NIC, corporation tax etc. ( Government can influence both Microsoft and Oxfam profitability through taxation.

  1. Political, legal, social factors affacting Tesco.

    Hosting of a major sporting event One of the most effective ways for a business to get publicity is by various ways such as sponsoring and running events. For instance recently Barclays recently bought the naming right to the end of year tennis event and also have the rights to the Premier league in football.

  2. Introduction to Tesco

    The disadvantages of Tesco being a public limited company is that, it is more complicated to set up a limited company than it is to start a business as a sole trader. It is also more expensive as it is necessary to employ a solicitor to register the company.

  1. The Business Environment Coursework. Describe the type of business, purpose and ownership of ...

    They have also managed to increase their sales in the non-food departments as Tesco are known for low prices and good quality, many people have bought more clothes from Tesco's and less from shops like Marks and Spencer's and Next.

  2. For my portfolio, I was asked to do an assignment on two businesses. I ...

    The organisation received subsidies and grants from the government but was usually expected to pay its way overall. Some of the main public corporations in Britain's are the post office, the Bank of England and BBC. TASK 1A Type of Ownership of Tesco Tesco is a public limited company.

  1. Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

    the hassle for waiting for staff on the till to checkout for them, plus all they have to do is scan the bar code of their product on the bar code scanner that is built in the self checkout machine and they simply selct what method of payment Cash/ card and simply pay and recieve a receipt.

  2. Political, legal and social factors impact on businesses The two businesses I will compare ...

    have a high disposable income therefore they will spend more and have a higher demand for their products and services. On the contrary when there is a recession inflation decreases this is to encourage more spending as the value of currency increases however in the recession people are struggling for money, jobs etc.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work