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(Doc) Business Environment Report - Tesco

   

Added on  2020-09-03

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How Business operate
(Doc) Business Environment Report - Tesco_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK1 ............................................................................................................................................31.1 Types of organisation in public and private sector...............................................................31.2 Different organisation structures within the businesses and reason for variation................41.3 Describe how the local, national and global economic environment impact TESCObusiness.......................................................................................................................................4TASK2.............................................................................................................................................52.1 Importance of accounting for business success....................................................................55.1 Different function carried out by HR department in business..............................................55.2 Features of employee legislations.........................................................................................6TASK3.............................................................................................................................................63.1 Interpret the information on profit and loss account ............................................................6TASK4.............................................................................................................................................74.1 Stages of team development..................................................................................................74.2 Description of motivational theories....................................................................................74.3 Comparison of motivational theories....................................................................................84.4 Different leadership styles.....................................................................................................8TASK5.............................................................................................................................................86.1 Impact of customer service on business success ..................................................................86.2 Benefits of customer profiling to a business........................................................................9CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10
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INTRODUCTIONIt is very important for organisation to scan the environment in such manner that helpthem to know all the changes in customer taste, choices and preferences which allow them toearn higher profit and sustain in competitive market for longer period (Baden-Fuller andMorgan ,2010). Further at the time operating business different situations are arises whichbusinessman has to face and evaluate such type of solutions which reduce risk and bring betteroutcomes. Apart from in dynamic both internal and external factor need to be consider so thatorganisation easily grab market opportunities and remove all the threats. The company which istaken in this report is TESCO which is UK based largest supermarket retail industry deals inclothing and grocery sector. This assignment discuss about the type of business sector, variousorganisation structure, significance of accounting and benefits of customer profiling that help inachieving daily targets.TASK1 1.1 Types of organisation in public and private sectorEvery organisation has carry out different activities in order to perform various task andoperation for accomplishing objectives and targets of business. Further company has to deal indifferent products and services which help in accomplishing the objectives and targets oforganisation. Basically these businesses make objective is to earn profits and uplift livingstandard also. Public sector:- It include all the public sector and government undertaking who formulate theirown rules regulation in order to serve the whole public in which they provide products ataffordable prices. Types of public sector are stated below:-Departmental undertaking:- This is the oldest form of undertaking in which strategicplanning and important decisions are taken by government only.Statutory undertaking:- this is another type of public corporations which enforced theirworking after getting pass from the special act of parliament. Further governmentconsider as shareholders of company.Government undertaking:- this type of association covered under companies act, 1985and 2006 fully or partially owned by public sector only.
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Private company:- these company are owned, Controlled by private person only. Further, legalrules and regulation are framed by management team only which an objective of earning profitsonly.Sole proprietorship:- This type of business is establish by one person only and they come withtheir own capital and share profit losses of business. They are responsible for losses and profitand decision taken by owner only.Partnership:- This business has been establish with the partnership of two or more person andall the terms condition related to profit sharing, capital and working hours are prescribed inpartnership deed only. Partners having unlimited liability so they have use their personal assetfor the payment of debt.1.2 Different organisation structures within the businesses and reason for variationOrganisation structure means follow particular hierarchy on the basis of which roles andresponsibilities are delegated among employees which lead to effective working style. Furthercompany adopt their own organisation structure according to their objective and goals which suitwhole workforce and motivate them to work in most effective manner. TESCO is a big retail supermarket comprises of large number of employees so on thebasis of past performance and suitability of business they adopt decentralised organisationstructure where employees and management actively participate in business and share their ownthought and choices which leads to rational decision making. But on the basis of dynamicenvironment company have to make variations in their structure that improve the performance ofworkforce by providing better quality of goods and services.1.3 Describe how the local, national and global economic environment impact TESCO businessTESCO is large multinational supermarket who expand their business at different countries sothey have to arrange their operations that leads to optimum utilisation of resources and reducewastage also. Retail sector is one of the growing market that has to deals with the complexity ofbusiness due to modification in costumer taste preferences because of many innovation anddigitalisation in product services of company. TESCO is effected by economic conditions atdifferent level:-Local level:- Due to unfavourable economic condition unemployment is increase which affectpurchasing power of individual and adversely affect sale of company.
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