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Business Management- Tesco Report

Added on - 12 Feb 2020

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Business Management
Table of ContentsINTRODUCTION............................................................................................................................3Task 1...............................................................................................................................................4Identify three motivation theories in TESCO..............................................................................4TASK 2.............................................................................................................................................7Compare and contrast between leadership or managerial style...................................................7TASK 3.............................................................................................................................................9Several factors that affects the individual behaviour as well as team work................................9CONCLUSION.............................................................................................................................11REFERENCES...............................................................................................................................12
INTRODUCTIONTo manage the business activities in effective manner is known as business management.This management is very helpful in managing very functions like marketing ,finance ,humanresources etc. and it controls all the function. It is very important in achieving the success andhelpful in facing the competition (Gollenia, 2016). This project report is based on TESCO Thatdeals in grocery stores . This project will be concluded the motivation theories and it's advantagesand disadvantages ,difference between managerial and leadership style and it's benefits orlimitation and factors that affects the individual behaviour etc.Task 1Identify three motivation theories in TESCOMotivation is very important in every business because if employees will be motivatedthen they will do work with efficiency and effectiveness. There are various motivation theory thatare adopted by TESCO for motivating the employees which are as follows -Taylor's motivational theory– This theory is given by Fredrick Taylor .This theory saysthat worker should be paid according to their performance means on the basis of 'piecerate'.This approach is very good for business because if TESCO is adopting it then it willincrease the productivity of an employee. Employees will produce more unit of item.TESCO also conduct employees reward programme in which it motivates the employeesfor their performance gives financial or non financial reward to the employees that helps inmotivating them (Basco and Rodríguez, 2011).It's main advantages that it increases the productivity of the employees and disadvantageis that in this company have to invest too much and it increases the planning cost.Maslow's hierarchy of needs-This theory is developed by Abraham Maslow and thistheory argues that people will get motivated and satisfied through several different types.It includes the following needs -Physical or basic need-TESCO provides the good working condition and monthlyfair remuneration, good facilities etc. to their employees so that they will getmotivation and will work effectively (Oakshott, 2012).Security need –TESCO provides the basic things that provides security to theemployees like insurance ,employment contracts etc.
Social needs– TESCO company motivates their employees for team work and alsoenables store staff to work as a team and it also provides various offers like gymmembership cards ,gift vouchers etc (Weske, 2012).Self esteem need –TESCO provides training and development to their employees sothat they can develop them selves and can increase their knowledge so that they canwork properly.Self actualization need –TESCO provides various thing like incentives ,bonus totheir employees that fills the self actualization need of the employees and provideschallenging work to them so that they can utilize their full capabilities.Advantages of Maslow' s hierarchy -This theory has main advantage is that it provides the correct insight of humanbehaviour and their needs to the company that helps in designing the products andservices.it also helps the marketer for focusing on advertising appeal on specific needs .Disadvantages -This theory only tells about same need but everyone have different different need atthe same point of time.This theory is not applied in the case of starving artist(Fisher and Bonn, 2011).This theory says that people' self actualization need will not be satisfied until andunless his basis need is unsatisfied, that is invalid.Herzberg's dual factor theory –TESCO is providing hygiene factors as well asmotivational factors. These factors are very important in motivating the employees andalso helps in improving the working condition. If at the workplace, these factors are notexist then it increases the dissatisfaction level among employees (Biehl‐Missal, 2011).
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