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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.

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