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Business Management
Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Introduction and summary......................................................................................................1
Presenting the business function and relevant management tools..........................................2
Examples of tool applied by TESCO.....................................................................................5
PART 2............................................................................................................................................6
Reflection...............................................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
INTRODUCTION
Business management is a way of organizing, analysing and planning various types of
business operations so that it helps for the smooth functioning of a business. The chosen
company for this report is TESCO which is one of the leading retailing company in UK and it
provides the best products to their customers. The report is divided into two part such that in part
1. The report summarizes the case study and also demonstrate the business functions and some
relevant management tool that includes Gantt chart, potential return on investment and work
breakdown structure. And in 2ndpart, the report will reflect the learning experience from the
assessment.
PART 1
Introduction and summary
Trade shows projects are those plan that helps to oversees many aspects of the project
that leads to client satisfaction. TESCO is the biggest private sector in UK and currently the
company has more than 300000 employers at worldwide. As the firm is also operates in more
than 12 countries and it is a multinational groceries and some general merchandise retailer. As
the firm have brand image in market and that is why it keeps expanding its current business at
different countries. Through market research, the research and development department of the
company determine that the company have to provide some flavored energy drinks to their
customers in the exhibition in order to creates awareness among the people related to fitness.
Rationale for exhibiting:As TESCO wants to introduce new flavored energy drinks in
its exhibition, this is so because it wants to create awareness among people, so that they become
more concern about their health and that is why around 90 percent of the peoples prefer healthy
food and drink. As per the market research, it has been analyzed by the company's research and
development department that most of the people demand that TESCO introduce some healthy
and energy drink because the cited firm offered good quality of food and other items with
reasonable rates as compared to other company (Chapman and Ward, 2016). It has been further
analyzed that a good customers base is considered as TESCO strength and that is why the firm is
also keep providing innovative products to their customers with reasonable rates. That is why the
company also introduce new energy drink.
1
Presenting the business function and relevant management tools
There are many elements of project management and some of them are as mentioned
below:
Scope:the scope of this project is to raise the knowledge and through the event of
introducing new energy drink into market, TESCO also raise its sales and also aware people
related to their health and fitness (Ceschi and et.al., 2015).
Time:the time or schedule of the project is in work breakdown structure that shows all
the activity which is performed in order to met out the requirement and make the project
successful. The defined time for completion of this project is 10 days.
Cost:every activity is directly linked with the cost such that it may be resource spent,
operational cost and the budget which is defined for completion of this exhibition. The defined
cost of this project Is£450000.
Resources:to complete this project, the resources which are required are human
resources, technical resources, financial resources so that the aim and objectives of the project is
completed.
Quality:As TESCO provides the best quality of products to their customers and in the
same way for this project, the company also organize the trade show or exhibition in order to
introduce new energy drink for their customers with good quality of raw material used.
Risk:the possibility of risk is related to this project is use of analytic technique and
sometimes the marketing of the event is not done in appropriate way so that it leads to failure of
the project (Boehm, 2019).
Potential return on investment:
the return on investment helps to measure the gain and loss generated for a relative
amount of money invested and for this project the company get profit and increases the sales up
to 20% and the net ROI is higher as compared to last year as presented in budget.
Benefits for the company:
From the above project or trade show, there are lot of benefits for the company such that:
By introducing the new energy drink into market, TESCO will creates awareness and also
maximizes the sales of the company that directly impact upon the company's financial
performance (Boehm, 2018).
2
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