Context of Business in Tesco PLC

Added on - 21 Feb 2021

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Context of Business-2
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Background of Company.............................................................................................................1Vision, Management practices, Leadership style and organizational culture of the company....1The Culture and management style influence the business functions and strategies of company......................................................................................................................................................4CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONBusiness refers to buying and selling of goods and services in the consideration ofmoney. It is type of occupation that trade in purchasing and selling of goods in order to earnprofits. The owners of businesses has unique selling proposition which gives them a competitiveedge over their competitors. The research report will focus on leadership style, managementpractices and the organisation culture of chosen enterprise which is Tesco plc.This current assignment will outline the topic asvision, management practices, leadershipstyle and the organizational culture they are usingto drive their working effectively. Projectreport will discuss the business culture of chosen firm to define their strategies andorganisational functions. Lastly, it will provide recommendations for making furtherimprovement in their business strategies.MAIN BODYBackground of CompanyTesco plc is multinational merchandise retailer and groceries dealer. The Company isestablished in the year 1919 about 100 years ago. Ithas beenfounded by Jack Cohen. Theheadquarters ofthisfirm are situated in Welwyn Garden City, Hertfordshire in England. Tescoplc business is widely spread in 7 countries across Europe and Asia. The Company is renownedas market leader of groceries in United Kingdom. The firm deals in various diversified productssuch as clothing, furniture, books, electronics, toys, financial services and telecommunicationservices. It is listed on London Stock Exchange. Products of Tesco are generally of low costs thathelps to attract large number of customers.Vision, Management practices, Leadership style and organizational culture of the companyThe Vision, Management practices, organisational culture and leadership style of Tescoplc are as follows -Vision -Tesco plc vision is to shape their company to achieve higher profitability throughgrabbing the current opportunities and introducing innovative products in the market (Bloom andet.al., 2019). To fulfil the customers needs in order to increase their retention towards thecompany.Leadership style- This means the manner in which leaders of the company directs theemployees to implement the current plan in order to increase productivity of organisation.1
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