Table of Contents INTRODUCTION...........................................................................................................................1 TASK...............................................................................................................................................1 1. Brief history and summary of the business and the rationale.................................................1 2. Organization's vision, leadership style and management practices and the various strategies making use of various theories....................................................................................................2 3. Analyze how the above have been achieved or implemented.................................................4 4. Recommendations as an improvement of the organization....................................................5 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................6
INTRODUCTION Leadership refers to the position of guiding and leading group and individual. It can be a capacity of an organisation management to set and attain challenging aims, goals and decisive action when required and encourages others to perform at the highest level(Bargiela-Chiappini, F. and Nickerson, C. R., 2014). Leadership is important for the proper running of the business of a company. Strong leaders can help the firm to maximize productivity and attain business objectives. This assignment is related to Kingfisher Plc which is a British multinational retailing organisation. It was founded in 1982 and headquartered in London. This report will discussed about leadership, management and development of people and. Further will defined about the development of appropriate policies and strategies within a changing environment to meet stakeholders interest and design and development of the company. TASK 1. Brief history and summary of the business and the rationale Summery of the business Kingfisher Plc is a British retailing company which operate its business worldwide or different countries of the world. It was founded in 1982 as Paternoster Stores Ltd. to organize a buyout of the British Woolworths Holding Plc. Now it is known asKingfisher plc. and the headquarter of this firm is in London, UK. This organization operates approximately 1300 stores in 10 nations all over Europe under the B&Q, Castorama, Brico Cepot, Scewfix and Koctas brands. This company offers property investment, finance, digital sourcing and IT services. It is is the largest home improvement retailer in Europe and the third largest in the world. It deals in home improvement products like home appliances, tools, home furnishings, hardware and garden supplies & plants. Their are 79,000 employees who are help the company to running and operating the business of the firm. The total revenue of the firm is£11,655 million, operating income is£685 million and net income is £485 million. Rationale of the organization The purpose of selection of the firm for completing the report may differ from people to people. The reason behind to select this organization is because of the several goods, products and services that are offered by the firm(Bell, E., Bryman, A. and Harley, B., 2018). So it will be interesting and easy to gather more and deep information about the goods and services that are 1
provided and offered by the company. This firm deals in home improvement products so form it, it can be easy to know about the taste and preferences of consumers. Apart from it, the company will also be easily known with the satisfaction level of consumers with the help of views of people on the services and products that are offered by the organization. It will help in production and providing products and services according to the needs and demands of the customers. 2. Organization'svision, leadership style and management practices and the various strategies making use of various theories Vision- To make home improvement accessible for everyone and offer products and services to customers so that they can get products according their needs an demands(Berger, R. and et. al., 2015). Leadership styleadopted by Kingfisher plc- To guideandlead the employeesinan disorganization, it is important decision to chose the best leadership style for getting better result from the work. In an organization leadership style can be changed according to the situationand it is also necessary for the leaders to find out the nature of workers and employees so that they can select and choose best leadership style according to the employees. In kingfisher, the management department of the company can select Democratic leadership style in context of getting the output and result from their employees and provide best motivation to them. According to this leadership style, the mangers of the company motivate the proper involvement of the workers in decision making process so that better decision can help in accomplishing any task and work. In Kingfisher, employee engagement will help in the decision making of the company because if the employees have any idea for the development of the business, they can share it. This also help in increasing the motivation level of the workers an feel them important. Cause of it, employees participate in the decision making process with their whole heart and do work with their all efforts and dedication so that they can help in the development of the firm. The other purpose to follow this leadership style is that it help in removing the inequality from the organization and company(Cheng, C. C., Yang, C. L. and Sheu, C., 2014). The equal and active participation help in removing the feeling of inequality from the mind of the employees and help in proper work for the growth of the firm when they are working in a group or achieving a common task. 2
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Management Style adopted by Kingfisher Plc.-Management styles are the principles that underline the methods, techniques and abilities that are used by the managers to handle the situations and defining leadership within a company. In Kingfisher Plc, the company follow and use Democratic management style because it help in getting good and better suggestions and ideas from the employees and workers(De Maio, C. and et. al., 2016). According this leadership style, it is clear that this kind of leaders offer and provide opportunity to its employees to participate in the decision making process so that they can share their ideas and problems. If their ideas are good then they can be implement by the management department of the company in the business of the firm or it help in the development of the company. By sharing the issues, they can get solution and it will not generate barriers in the organization's growth and development. If the employees will get solution on time, they can feel motivated and do their work properly. In Kingfisher, this type of management style will help the company to deal with various situations and issues such as where it is hard to make decision towards a specific condition by getting more options. It is an essential and important management style to motivate, influence and encourage their employees in positive manners. Different strategies adopted by Kingfisher Plc.-There are various strategies that can be used by the management department of Kingfisher Plc. Teams and groups- In Kingfisher, the management department of the company can use the strategy of formation of groups and team. This company operate its business in the various countries of the world so it is not easy and possible for a person to make decision regarding the conflicts and resolve the issues or problems that are generating in the business of the company. Team and groups are also needed and necessary when the company doing work for achieving a large business target then the management department of the company make and design groups. In which there are number of people who has some specific skill and knowledge and help the company to attain that aim. In the organist ion, this strategy is required when the firm lead any project then it can be important for the company to make and form groups so that they can get good ideas which help in the success of the project. Rewardsandmotivation-Motivationreferstothedesiretoattainbeyondthe expectations. It can be a power which force someone to work in certain way so that it can achieve and reach towardscertain desired goals(Holsapple, C., Lee-Post, A. and Pakath, R., 2014). In context of an organization, motivation in an internal and external factor the encourage 3
employees interest in which they require to listen, focus and understand workers needs and demands by an effective interaction. In Kingfisher, to provide motivation to the employees the management department of the company provide reward to them according their performance. Reward is a scheme to support desirable behavior. It can be financial and non-financial. In kingfisher, the manager of the company reward their employees by analyzing their performance so that they can feel motivated and do their work with all their efforts(Jazdi, N., 2014). In they provide gifts, bonus, extra vacations, flexible work, training and other various kind rewards. This strategy help in the organizational growth because if the employees will rewarded for their good work and performance, they do their work with all their dedication and efforts. If the employees are motivated they work for the development of the company so that they rewarded for their good work. Decision making- It is the process of making choices by identifying a decision, collecting information and assessing suitable solutions. In an organization, it can be an action of making essential decisions. In Kingfisher, this strategy can help the company to provide better decisions regarding the issues and problems. The organization can make use step by step decision making process so that it will easy for the company to determine and monitor the decisions time to time. Decision making is and process and strategy that can be used by the management department of the company to reduce the risk and taking strategic decision. For example, if there are any risk related to competition and products and services, the manager can organize decision making process in which they can provide chance of participation to employees so that they can get and take effective decision to resolve the problems. So it is a strategy which can be used by Kingfisher to take effective and strategic decision that can help in the growth of the company. 3. Analyze how the above have been achieved or implemented In Kingfisher, democratic leadership style canbe implemented by the management department of the company by involving the workers in decision making process of the company. For example, the organization is participating in home improvement products so the firm can make interaction with their employees regarding the best way for offering better products and services to the customers(Jussila, J. J., Kärkkäinen, H. and Aramo-Immonen, H., 2014). This contribution help the company to develop a good brand image and the better image of the firm is beneficial for the company to gain various competitive advantages. It help in the growth and development of the company. 4
The participation of employees in decision making process is also beneficial for the company. For example, if the firm want to do innovation in its home improvement products then in it they can involve the employees(Maylor, H., Blackmon, K. and Huemann, M., 2016). So that they can share their views and ideas related to it because employees are very well aware about the needs anddemands of the customers because they interact with the consumers daily basis. This help the company to find out the customer's needs and preferences. To motivate the employees and increase the level of motivation, the organization can analysis of their performance on the basis of their work and rewarded them. Reward system help in encourage and motivate the employees so that they can do their work with all their efforts and dedication and achieve the organizational goals. To attain the organizational objective, the company can do formation of groups and teams which can be helpful and effective. It is an important strategy which can be used by the firm achieve the aims and objectives of the company. 4. Recommendations as an improvement of the organization After doing the analysis of all the information, there are following recommendations that can be provided to Kingfisher Plc., they are as following: The organization must make rectification in its decision making according to the situations because in some situations, it need to take quick decision. It must adopt the leadership style according to the situation in which the organization suffer and deal. It must use the motivation and reward strategy because it help the company to achieve its set aims and objective in set period of time and reward provide motivation to employees to achieve them(Sandkuhl, K., Koç, H. and Stirna, J., 2014). CONCLUSION From the above information, it can be conclude that leadership style and management practiceshelpininfluencingthebehaviourofemployees.Decisionmaking,rewardand motivation, team and group play an important role in the development of the company. A brief history and summary of the business are defined and the rationale is also described. Vision, leadershipstyle,managementpracticesandthevariousstrategiesareexplainedinthe assignment. Recommendations are also provided from the improvement to the company. 5
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