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Business Environment of Tesco : Report

   

Added on  2020-06-04

15 Pages3340 Words37 Views
BUSINESSENVIRONMENT

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INTRODUCTIONThe term business is referred to a enterprise, company or an organisation which functionsto provided product and service to its target customer for meeting there business objectives.These organisation provides there goods and services for there monetary and non monetarybenefits(Al-Debei and Avison, 2010). Businesses are generally owned by private owners or itmay be owned by government and government bodies of country. Management of enterprisesdepends upon ownership if it is owned privately, owners are the only one who manages itsfunctions whereas government owned organisations are managed by government officials.Internal and external factors which impacts directly and indirectly the functions ofbusiness structure, employees, customers of organisation, demand and supply is referred tobusiness environment. The sum of all factors which affects working of an organisation is knownas environment of business. These factors include all micro and macro elements which directlyor indirectly influences functioning of organisation. It is necessary for all enterprises to eliminatenegative impacts of factors influencing business with significant strategies in order to survive incompetitive business market. In the following assignment different types of organisation andthere purposes will be studied significantly with impact of micro and macro factors onbusinesses(Becker, 2017). TASK 1P1 Covered in ppt.P2 Covered in ppt.P3 Relationship of different organisational functions and its link to objectives.Tesco Plc is a multinational grocery store which provides quality products and services tothe individuals of society where it operates. The organisation is a third largest retailer in businessworld. It aims in providing high quality of services to customers inorder to improve standard ofliving of individuals and aims in achieving value of business among its customers(Boons andet.al., 2013). As per the above diagram it has been show that in the Tesco plc there are variousfunctional department which are very important for the company. Every department haveinterred connection with each other because these have common objective as attain theorganisational objective. Each functional department have their own objective such purpose for1

insatnace, marketing department have objective to increase the sales , human resourcedepartment have purpose to manage the human resource, finance department have objective is tomanage financial performance etc. Thus it can be said that each one have its own objective. Eachdepartment have objective to attain the common objective of the Tesco that is enhanceprofitability and market share so each department perform in excellent manner to attain thiscommon objective. The functions of the Tesco plc can be studied from the given diagram andthese functions of organisation are described as follows:-Board of directors:- The BOD of Tesco Plc consist of 10 members who works effectively inachieving the goals and objectives of business. A change was done in the board members oforganisation in the year 2014-15. New appointment of chair person of board was done and sevennew members were appointed in the place of retired members. The board of director are only thepersonnels who takes decisions and commands managing director of business and furthermanaging director coordinates with the different functional department of organisation to workeffectively and efficiently. It has major objective is to coordinate the activities and monitor theperformance of each department so as Tesco can attin it department objective.Human Resource:- Human resource management is major function of the company whichincludes various activities like recruitment and selection, training and development, motivation,developing workforce practices and policies etc. This function of Tesco plc consists of differentindividuals such as human resource director, manager and recruitment officers who works forhiring good staff members for organisation. The HR directors plans for recruitment of employeesand guides the members of department for hiring of individuals (Brinckmann, Grichnik andKapsa, 2010). The major objective of this function is to manage the human resources in effectivemanner and attain the business objective. In the absence of employees, company can not attainthe business objective so it is very important for this department within the Tesco plc is tomanage its employees in effective manner so as they can effectively carry out its businessperformance.The function is directly linked with achievement of organisations objectives. Good recruitmentof employees for organisation by HR helps in attaining objectives within time frame with lesswastage of time and money. This supports organisation in improving business performance andenhances effectiveness and efficiency in operation(Bryman and Bell, 2015). 2

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