Context of Business - Tesco Plc

Context of business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Brief History and summary of the business and the rationale of selecting Tesco...................1
2. Discuss vision, leadership styles and management practices and different strategies on the
basis of different theories that are been used by Tesco plc..........................................................2
3 Explain the achievement of the goals and how they are implemented within Tesco plc.........4
4. Recommendation for the improvement of leadership styles and management measures ......5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
A business is a planned activity that will help in generating suitable revenue and
goodwill, in return of effective and high quality product or services offered to customers.
Carrying out of the business operations and setting up of the activities is a challenging task that
is required to look after by an enterprise. The effective execution of the business activities is
relatively based on the leadership. It helps in achieving the goals and objectives set by the
organisation. The report is presented in context of UK based retail enterprise, Tesco plc. The
report covers a brief history and summary of the firm, different vision, leadership theories and
their implementation is discussed. The leadership styles and theories are also evaluated. Also,
proper recommendation is presented as scope of improvement.
MAIN BODY
1. Brief History and summary of the business and the rationale of selecting Tesco.
Tesco Plc is a UK based multinational retail enterprise that is headquartered in
Hertfordshire in UK. It is one of the leading retail enterprises in the world with having the outlets
in about seven countries of Asia and Europe. The third largest retailer in the world has the gross
revenue of about £57, 491 million and effective market share that will help in proper planning of
the services and catering number of customers in a simultaneously manner (Rinkinen and
Harmaakorpi, 2018). It provides a wider range of products including groceries, clothing’s,
cosmetics, foods, and electronics. Besides this, the organisation also provides the banking,
telecommunication and publishing services. This increases the scope of the organisation to cater
and meet the needs of a variety of customers. It not only increases the sales of the enterprise but
also supports a good rise in capability of organisation to cater wider needs. As the retail industry
is one of the most competitive and fastest growing sector, Tesco plc is required to see through
the proper planning of the operations which will contribute to the proper growth of the
organisation.
The Tesco Plc will look after proper leadership approaches and planning of the business
operations and activities which will help in setting up of the activities and guiding the workforce
of the organisation to meet the operational needs of an organisation to a greater extent. This will
lead to rise in operations which will support a good rise in their retail based operations and raise
the effectiveness of the organisation’s ability to operate and carry out their business on
international level (Xheneti, Karki and Madden, 2018). This will increase their productivity and
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setting up of the operations which will help in carrying out of services on an international level.
This will also improve the quality of operations which will help in improving the quality of
services and setting up of the proper framework to manage the operational requirements of the
organisation in an effective way. Implementation of a good leadership including different models
and theories will help in carrying out of the services and action plans which supports a good rise
in operational or functional capacity of the organisation (Kew and Stredwick, 2016). Besides
this, a good leadership also supports the risk assessment and its prevention.
Tesco plc. Is preferred due to two reasons. First, the retail industry is the fastest growing
industrial sector that is required to be monitored and managed effectively. Secondly, Tesco plc is
one of the largest retail enterprise and deeply susceptible to range of factors affecting its
business.
2. Discuss vision, leadership styles and management practices and different strategies on the
basis of different theories that are been used by Tesco plc
Tesco plc. Being one of the most effective and biggest retail firm that will help in
carrying out of the operations that will help in carrying out of the operations related to retail
industry. The vision of Tesco plc is comprises of the five major elements which includes:
 To be one of the desired and needed enterprise around the world.
 Having a high opportunity to carry out the business operations.
 To produce innovative and unique products.
 Having a good relation with stakeholders.
 Developing trust and loyalty among the customers of the firm.
Looking at this vision objectives, Tesco plc will look after the selection of suitable tactics
and plans including the leadership styles and models which will help in improving the quality of
operations and identify the growth measures and risk factors associated with the expansion and
functioning of the organisation (Bidault and et. al., 2018). The leaders at Tesco plc will look after
the department based planning of the operations which is been carried out by the organisation.
This will also include the strategic planning of operations. Some major leadership approaches
and management practices or measures which are been carried out by chosen retail enterprise
are:
Leadership styles applied at Tesco plc.
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Tesco plc major uses the Participative leadership within its organisational structure that
help in proper involvement of the work force within the organisation. It will also improve their
bonding with the organisation and supports the growth of retail enterprise. As per various
theories, following leadership style is followed within Tesco plc.
 Autocratic leadership: This leadership style is followed in which only a single person is
having authority to take all decisions. Here, the individual controls entire team. Also,
every decision taken has to be accepted by others as well. Besides this, leader’s
judgement is based on their ideas and thoughts. In Tesco this style was applied which
results in taking strong and effective decisions (7 Common Leadership Styles: Which
Type of a Leader Are You?, 2018). The top management took all decisions which were
forcefully applied within organisation.
 Democratic leadership: It is a style which is followed by leader to engage employee in
decision making process. This supports in building strong relations with leader and
attaining goals in specified time period. Similarly, in Tesco leaders applied this style to
engage with employees. They took their views and suggestions in order to take effective
decisions. Furthermore, with help of this it was easy for leader to take employee feedback
and evaluate their performance. Initially, this style was applied in one or two departments
but after getting positive response Tesco leaders implemented it at large level. This
highly affected the overall organisation employees as it supported in taking effective
decision in quick time (Lubberink and et.al., 2017).
Primarily, Tesco plc will look after the implementation of participative and democratic
leadership style which will help in improving the coordination and understanding between
management and the work force which will help in carrying out of retail business operations. It
will also help in controlling the issue of lack of job satisfaction and employee turnaround.
Besides this, different strategies are been followed with the selected retail firms like:
 Analysing strength and weaknesses: Various strength and weaknesses of employees
within retail organisation is analysed to facilitate suitable bonding with business
organisation.
 Developing an action plan: HR management of Tesco plc will look after suitable action
plan to improve the strengths and skill set of the work force within Tesco plc.
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Besides this, a wide range of work management practices and policies will be carried out
by the organisation which supports a good rise in performance of selected retail business. Some
major retail practices or strategies are which are been carried out are:
 Employee engagement: This practice will help in carrying out of the involvement of the
work force within various operations and developing a good coordination among them
which will help in proper rise in carrying out of services and this will help in setting up of
the operations which will lead to growth of the organisations and gaining a sustainability
of the organisation. This will also lead the organisation to improve the quality of
operations and setting up of the work practices by the organisation (Shi, Li and Bigdeli,
2016).
 Providing appraisal: This is very effective practice of management that includes the
rewarding measures. If the employees will be performing well, they are required to be
rewarded by the management of the organisation. This will help in improving their
loyalty and carrying the business operations of Tesco plc. Besides this, it will improve
their morale and motivation level, leading to the growth and development of the
organisation.
3 Explain the achievement of the goals and how they are implemented within Tesco plc.
Tesco plc will look after the proper planning of the strategies, operations and activities
which will lead to setting up of the goals and action plans that supports in improving the
performance of organisation. Leaders at Tesco plc see through setting up of effective goals and
objectives, they will guide the employees with suitable guidelines which will help in proper
planning of the services that will impact the services which will help in suitable operations that
supports the growth of HRM operations within the firm (Souto, 2015). The implementation of
various leadership approaches and action plans will help in carrying out of the services which
will lead to setting up of a suitable action plan. Other than this, the management practices which
are been implemented within Tesco plc. Other than this, the retail firm will look after the proper
planning of the leadership based operations like resource and information allocation, training the
work force and improving the will lead to rise in setting up of proper action plan which will
guide the operations set by the firm.
For example, the management of Tesco plc will look after opting both, participative and
democratic leadership approach to support the rise in sustainability. The participative practice
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will look after the setting up of an involvement plan and code of conduct or guideline which are
required to be looked after and managed by the employees of selected retail enterprise. On the
other hand, the democratic leadership measures which will help in improving activities and
decision making measures which will lead to setting up of the suitable improvement measures.
Besides this, it will improve the moral and ethical behaviour of the employees. Other than this,
the strategic measures like analysing strength and weaknesses and developing an employee
growth plan and monitoring their turnaround rate accordingly supports suitable rise in
functionality of human resource within the retail firm. It guides the employees to draft a proper
plan for product development and carrying out of the research activities which are carried out by
the organisation (Kopnina, 2017). Other than this, the leaders at chosen retail enterprise will take
effective steps to engage or instate the employees within a team or project by initiating their team
bonding and carrying out of operations. Apart from this, providing them with appraisal we will
encourage and motivate them to improve their performance and carrying out of retail business
operations in an effective way.
All these strategies are been implied within Tesco plc because these measures will lead to
carrying out of the retail operations and setting up of suitable framework within the organisation
for the growth and effective implementation of leadership guidelines.
4. Recommendation for the improvement of leadership styles and management measures
Effective recommendations can be incorporated within Tesco plc which will help in
setting up of the retail operations in an effective way (Bell, Bryman and Harley, 2018). As the
chosen firm will see through the proper handling of leadership measures, this can be said that the
chosen retail firm has effectively applied the leadership styles and employee management
measures which will help in improving the performance of the organisation in significant
manner. The rise in employees trust and confidence level leads the retail enterprise to develop
high quality products and services and increase the sustainability of the chosen firm in market.
However, the firm can also opt for certain recommendation within the organisation which will
help in improving its sales and overall performance.
Some major recommendations that can be taken in consideration by Tesco plc for the
improvement of the performance of company are as follows:
 Developing a good communication channel: The management of suitable
communication channel will lead to setting up of an effective action plan or strategy
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which will be implemented by Tesco plc to improve their communication efficiency to
perform operations and have a high level of sustainability. This will support in reducing
the employee turnaround rate.
 Providing the employees with a proper training: The training process can be followed
in order to setting up of suitable rise in skills and knowledge of work force to identify
and cater changing needs of their customers in retail sector. The training will also
improve their confidence level, inspiring them to handle the needs and carrying out of
the retail operations to get involved in decision making, when required (vom Brocke,
Zelt and Schmiedel, 2016).
 Implementing an interactive framework: Tesco plc can also include implementation
of an interactive platform which will help in carrying out of the operations and setting a
suitable guideline to be followed by employees of the organisation. As a research will be
performed by Tesco plc to have a good idea about the employees needs and mitigating
their communication gap. This will allow the incorporation of various skill assessment
tools and taking regular feedback about work on regular basis.
CONCLUSION
Based on the assessment that has been carried out by the organisation, this can be said
that business operations are relatively based on the leadership and guidance of the activities
which is been carried out by the firm. Apart from this, it will also improve the effectiveness of
the operations on the basis of various leadership styles and management measures which are
been carried out by the organisation. Also, the proper implementation of these factors within the
selected retail enterprise and proper recommendations related for their growth and development
will be measured, analysed and applied by selected retail enterprise.
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REFERENCES
Books and Journals
Bell, E., Bryman, A. and Harley, B., 2018. Business research methods. Oxford university press.
Bidault, F. and et.al., 2018. Willingness to rely on trust in global business collaborations:
Context vs. demography. Journal of World Business. 53(3). pp.373-391.
Kew, J. and Stredwick, J., 2016. Human Resource Management in a business context. Kogan
Page Publishers.
Kopnina, H., 2017. Sustainability: New strategic thinking for business. Environment,
Development and Sustainability. 19(1). pp.27-43.
Lubberink, R. andf et.al., 2017. Lessons for responsible innovation in the business context: A
systematic literature review of responsible, social and sustainable innovation
practices. Sustainability. 9(5). pp.721.
Rinkinen, S. and Harmaakorpi, V., 2018. The business ecosystem concept in innovation policy
context: building a conceptual framework. Innovation: the European journal of social
science research. 31(3). pp.333-349.
Shi, X., Li, F. and Bigdeli, A.Z., 2016. An examination of NPD models in the context of
business models. Journal of Business Research. 69(7). pp.2541-2550.
Souto, J.E., 2015. Business model innovation and business concept innovation as the context of
incremental innovation and radical innovation. Tourism Management. 51. pp.142-155.
vom Brocke, J., Zelt, S. and Schmiedel, T., 2016. On the role of context in business process
management. International Journal of Information Management. 36(3). pp.486-495.
Xheneti, M., Karki, S.T. and Madden, A., 2018. Negotiating business and family demands within
a patriarchal society–the case of women entrepreneurs in the Nepalese
context. Entrepreneurship & Regional Development. pp.1-20.
Online
7 Common Leadership Styles: Which Type of a Leader Are You?, 2018. [Online] Available
through : < https://blog.proofhub.com/7-common-leadership-styles-which-type-of-a-
leader-are-you-ef23c93bc706>
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