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Paper on Context of Business Assignment

   

Added on  2021-02-20

8 Pages2559 Words63 Views
Context of Business (PROJECT 2)
Paper on Context of Business Assignment_1
Table of ContentsINTRODUCTION................................................................................................................................3MAIN BODY.......................................................................................................................................3LO 3 .....................................................................................................................................................3Brief history and summary of business............................................................................................3Defining vision, leadership style, management practices and organisational culture for the development of people.....................................................................................................................4LO 4 .....................................................................................................................................................5Defining culture and management style influencing business functions and strategies..................5LO 5 .....................................................................................................................................................6Recommendations............................................................................................................................6CONCLUSION....................................................................................................................................7REFERENCES.....................................................................................................................................8
Paper on Context of Business Assignment_2
INTRODUCTIONLeadership and management are considered as the most important aspects for every businessorganisation in achieving set defined business goals and objectives. With effective leadership style,leaders can provide correct direction to its employees for attainment of goals. On the other hand,management is an art of managing business resources by formulating sound strategies and plans insuch a manner that production and manufacturing operations are carried out effectively. The presentreport is based on Tesco plc, which is a British multinational groceries and merchandise retail storehaving its headquarters in England, United Kingdom. Tesco is engaged in business chains in formof Super market, Super store and Convenience shop across different places. This report will discussabout importance of leadership and management which is necessary for the development of people.Also, it will describe relevance of policies and strategies for business for meeting interest ofstakeholders. Further, it emphasizes on process related to designing and development of businessoperations of an organisation.MAIN BODYLO 3 Brief history and summary of business.Tesco plc trading also known as Tesco, is one of the leading British multinational groceryretailer. Tesco was founded in 1919 with specification in the retailing business. It is also dealing ingeneral merchandise retail ship business with its headquarter in England United Kingdom. It isconsidered as one of the largest retailer in the world when measured in terms of gross revenues. It islisted on the London Stock Exchange and has formed constituent of the FTSE 100 Index. Themarket capitalization as on April 22, 2015 of Tesco is approximately £18.1 billion. Also, it has beenthe 28th largest among companies with primary listing on the London Stock exchange.It has been growing with the rapid and increasing phase across the globe with over retailshops in approximately seven countries, territories around the world. The net income of thiscompany for the financial year 2019 is £1,320 million with 450,000 as the number of employeespresently working for it. Also, the revenue made by the company for the year 2019 is £63,911million and operating income of £2,206 million for the same accounting year (Tesco plc, 2019).Tesco has been operating in different part of the world with around 6800 number of shops.Also, it has become the third largest retailer across the globe in term of gross revenues till the year2019. When it is measured in terms of revenues factor, Tesco has been the ninth largest retail storein the world having its operational business and shops in approximately seven different countries. Ithas also become market leader in the business of groceries in the United Kingdom having market
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