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Business objectives scope and success: a case study

   

Added on  2020-12-09

13 Pages4141 Words245 Views
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BusinessAdministration (70)
Business objectives scope and success: a case study_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Importance of defining the objectives scope and success................................................31.2 Analyse the potential impact of decision making.............................................................41.3 Importance of obtaining sufficient valid information to enable effective decision making.41.4 Importance of aligning decisions with business objectives, values and policies.............41.5 How to validate information used in the decision making process..................................51.6 How to address issues that hamper the achievement of targets .......................................5TASK 2............................................................................................................................................52.1 Explain the difference in the influence of managers and leaders on their teams.............52.2 Evaluate the suitability and impact of different leadership styles in different contexts...62.3 Analyse theories and models of motivation and their application in the workplace........6TASK 3............................................................................................................................................73.1 Analyse responsibilities of manager for planning coordinating and controlling the work73.2 How managers ensure that team objectives are met.........................................................73.3 Contribution of manager's role in organisation's mission, vision and objectives.............83.4 Analyse theories and models of management..................................................................83.5 Application of management theories guide a manager's actions......................................93.6 Explain the operational constraints imposed by budgets.................................................9TASK 4............................................................................................................................................94.1 Relationship between business objectives and performance measures............................94.2 Features of a performance measure system....................................................................104.3 How to set the key performance indicators....................................................................104.4 Tools, process and timetable for monitoring the business performance........................114.5 Use of management accounts and management information system in performancemanagement..........................................................................................................................114.6 Distinction between outcome and outputs......................................................................11CONCLUSION..............................................................................................................................12RFERENCES.................................................................................................................................13
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INTRODUCTIONBusiness administration is defined as a management of operations activities in a firmwhich includes various factors such as accounting, financing and marketing. Manager is playingan important role in terms of evaluating daily operational activities of a firm. On the other hand,Leadership is a power which is given to some specific persons in a firm on the basis of theirexperience,skills and strength for doing a particular task. The chosen organisation for thisassignment is Tesco plc which is a multinational company and based in UK. This assignmentwill discuss about the importance of objectives,values and policies in the decision makingprocess along with difference between managers and leaders. Impact of leadership style, theoriesof motivation and management and their use in the workplace will also covered in this report.Operational constraints of the budget and relationship between objective or performancemeasures will also discuss in this report.TASK 11.1 Importance of defining the objectives scope and successContext – Organisation wants to implement a new machinery in their production system forincreasing their productivity.Objective, Scope, success and their importance in the organisation is briefly explained as under:Objectives- Management of Tesco has to formulate some plans and policies so that, theywill implement new technologies in their production department. The main importancebehind the implementation is increasing the production level of the firm.Scope- It is defined as a complete information of the task which is important for meetingthe preset objective. Scope can be distributed in the teams at workplace who have skillsand knowledge to complete the task in effective manner (Burns,2016). For e.g. managershas to determine the scope of the new system due to which, they can take growth andsuccess in future.Success – Employees have to gave more contributions in the given task through whichthey can deliver the project on time. It is important to define the task to employees withthe help of this, employees can ensure about the task and gave their maximum outputs forcompleting the task due to which, the project will timely completed. In this, Managers of
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Tesco have to determine the result of implementation of new techniques due to which,they can measure their growth and success in effective manner.1.2 Analyse the potential impact of decision makingImportance of ascertaining potential impact are given as under:Managers of Tesco will enhance the performance level of their employees throughimplementing new systems.Management will improves the productivity level of the organisationThrough effective decision making, Management will be able to know about theirposition in marketplace.Organisational growth is depends on the performance level of employees so that,Managers of Tesco have to take supports from their efficient employees due to which,their motivation and confidence level will be increased.1.3 Importance of obtaining sufficient valid information to enable effective decision makingIt provide assistance to managers in ranking the tasks as per their priority due to which,they can identify the projects which is need to be allocated. With the help of this managers ofTesco can easily define roles and responsibilities to their employees in order to implementingnew technology. Through the help of it, managers can see the barriers and risks for successfulcompletion of task (Masa’deh,2013). If managers will not provide the essential informationabout the task to their employees they will working towards an inappropriate target which willgave a wrong impact on the working performance of employees.1.4 Importance of aligning decisions with business objectives, values and policiesThrough this, Management of Tesco will able in examine the external factors such asmarket trends and customer's requirement due to which they can easily meet with theneeds of customers.With the help of business objectives, Management of Tesco can measure the performancelevel of employees and take effective decisions for increasing their ability.Following the procedures which is set by the management with the help of this, managersof Tesco can evaluate the tasks as per standards and regulations of the firm. It will alsoassist them in decreasing the risks which can affect firm in internal and external aspect.
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