Mission Statement
A mission statement is a statement of the role, or purpose, which an organization intends to serve its stakeholders. It also describes what the organization does, who it serves like stakeholders, and what makes the organization unique better than its competitors. The mission statements always exist at the top level of an organization, but may also be set for different organizational levels or components.
Mission statements are a way of communicating the organisations visions and ideas to a department, company and its customers.
Business objectives are goals which an organisation has so it has something to aim for. Such as being the biggest supermarket in the UK.
Organisations have business objectives so that they have something to aim for. A way to improve is by expanding or improving services etc.
Mission Statement is At Tesco, our principal aim is to provide our customers with consistently outstanding products and services - through the best stores and provided by the best people. Above all, we want to be the company that our staff and customers alike rate higher than any other.
Business objectives
Tesco’s business objectives are;
- To provide exceptional value and choice for our customers.
- To improve on out non food business such as electrical and clothing.
- We try to change and respond to our customer needs and wants.
- To expand in to new areas.
Business Ownership
Business ownership is all the ways a business can be run such as a;
Sole trader which is a firm owned by one person, usually the individual who has day to day responsibility for running the business. The advantages of this are you are your own boss and you get to keep all the profit. The disadvantages are you need to do alot of paperwork, Banks might not give you loans.
Partnership are often used by groups of professional people such as solicitors and estate agents. The advantages are you get longer time off for holidays, there are flexible hours. The disadvantages are there will be disagreements and they have to share profits.
Ltd is a private limited company with more than two share holders with limited liablilty. The advantages are sale of shares raise money and they can expand. The disadvantages are you need legal requirements to set it up and so its more expensive to set up a company.
Plc is a public limited company with more than two share holders anyone can be a share holder and they never lose there investments. The advantages are limeted liabilty. The disadvantages are there biggest company therefore unwealthy and directors have to answer to share holders.
Tesco’s chairman is John Gardiner. Tesco is a Public limited company.
The benefits of being a public limited company are your Able to raise more capital than a LTD, as it is able to advertise its shares that are for sale therefore it is able to generate more capital. It may benefit from economies of scale. It is easier to borrow money because of its size and the security it can offer. Through its size, a PLC can more easily specialise.
Tesco’s business functions
Business functions are the different sections of a business such as Marketing and sales, human resources, investing, facilities and services etc. Organisations have functions because they sort the organisation out into like little segments to make it easier for them.
Tesco has lots of different departments such as ? need to finish
Management Style
Management style is a certain pattern of behaviour someone will show whilst carrying out a management role.
There is more than only one management style that suits an organisation because market circumstances change, internal circumstances change, External pressures change. There may be a period of stability.
The different types of management styles are;
Autocratic management style is where the manager sets objectives and informs employees on how they can achieve those objectives
Democratic management style is when teams or individuals make the decisions and the manager is comfortable with that and wants regular feedback.
Consultative management style is when the manager asks for the opinions of workers before he makes decisions.
Laissez-faire management style is when employees set there own goals and determine how to achieve there objectives.
Tescos Management style is Autocratic
Business Structures
There are a few different types of organisational structure. These are four main types to do with businesses ·
Functional structure - Functional organisations are usually organised through the specialist functions that each department has to offer. An example of a company that is organised to this style is British Airways.
· Product organisation - is very similar to functional organisation as it is based around lines of authority, but the difference is that the first level is divided into geographical locations rather than departments.
· Holding company - is very similar to that of a market structure, also known as divisional structure. A good example of this was British Rail.
· Matrix organisation - This is associated to a company that produces many different products, but each product has to be managed simultaneously.
Tescos business structure is ??
ICT
Ict is Information and Communication Technology which is basically all to do with computers in an organisation external communication External communication is when communication is used to outside the business. Things like the telephone, email, fax machine etc. Internal commmunication is when communication is made outside a business. Things like a memo, notice board etc. so the effects are its easier for tesco to send reports etc and graphs. When comunicating internally tesco uses intercoms and loads speakers that you can hear all over the buliding. when communicating externally tesco uses email, fax and the telephone when there communicating outside of the business. Ict effects the business every single day because tesco is always using ict for example the tills need ict and the manager has to communicate to his employees and he would use it to create reports and graphs etc on how well or bad tesco are doing. The effects ict had upon tesco are that it makes it easier to check up on people who are not at work and some employee's can work at home depending on what the employee does.
Quality
Quality means how good a certain thing is such as the service at tesco is good quality service. Quality assurance is like a program that guarantee's a standard level of quality. System of control means to guarantee by that a certain amount of quality is being maintained during the production of the product such as food, sevice etc., as well as the product itself are inspected.
