Comprehensive Report on Tesco's Business Operations and Management

This report provides a detailed analysis of Tesco's business operations. It begins with an introduction outlining the company's market position and the scope of the report. The main body covers various aspects of the business, including the business environment, different types of companies, and the importance of accounting. It examines the functions of the HR department, including recruitment, selection, and employee legislation. The report then delves into an accounting workshop, interpreting profit and loss statements. Team dynamics are explored, including the roles of team members, stages of team development, and motivation theories such as Maslow's hierarchy of needs and Herzberg's theory. Different leadership styles are also evaluated, along with an analysis of customer service impacts. The report concludes by summarizing key findings and referencing relevant sources.

How to Businesses
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Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1- The business environment-..............................................................................................1
Identification and evaluation of the different types of companies that are operating in both the
sectors that is private and public............................................................................................1
TASK 2- Business functions............................................................................................................1
Examination and detailed evaluation of the accounting importance with context of the
business firm that is mentioned above....................................................................................1
Examination and analysis of the various functions that are performed by the HR department
................................................................................................................................................2
Identification and then outlining the various features of the legislations of the employment2
TASK 3- Accounting workshop......................................................................................................3
Interpretation of the relevant information that is related with the profit and loss statement..3
TASK 4- Teams...............................................................................................................................4
Analysis of the role of others within the business..................................................................4
Evaluation of the different stages of the development of a team...........................................5
Evaluation of the theories of motivation................................................................................5
Evaluation of different kinds of leadership............................................................................7
Task 5 – Customer service...............................................................................................................8
Impact of the services of the customers in the sector of business..........................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The operation of the business firm carriers a lot of importance in the current market scenario
that is highly competitive as well as dynamic in nature as it is very critical to analyse and
evaluate all the aspects of the company so that it can lead to the enhancement of its value in the
market in which it is operational (Affia, Akang and Aniefiok, 2020). Tesco is a company that is
geographically located in the UK and is operational in the industry of supermarket grocery and is
working in the industry since a pretty long time and thus has captured a much larger share in the
market as compared to other firms that are operating in the similar market conditions and the
PESTLE of it is included in the below report. In this report there is a detailed examination of the
various factors that are related with the different sectors that are operating in the market. Apart
from that this report also includes a number of various aspects that is the evaluation of different
theories and styles of leadership that are used by the above mentioned enterprise so as to stand
well ahead of all its competitors that are prevailing in the current industry. Further the report also
includes different factors of business environment and its impacts on the working of the
company in the market.
MAIN BODY
TASK 1- The business environment-
Identification and evaluation of the different types of companies that are operating in both the
sectors that is private and public
Covered in PPT
TASK 2- Business functions
Examination and detailed evaluation of the accounting importance with context of the business
firm that is mentioned above
Accounting is the most important as well as crucial aspect for each and every business firm
that is operational in the market irrespective of the industry in which they are working since it is
the identification, analysing, summarising, and reporting of all the transactions that are done in
the company so as to take decisions that can help the firm to grow and prosper in the market. It
also helps in maintaining a balance between the expenditure and income part of the company so
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that it can result in the increased profitability of the firm in the long run. Its importance is
discussed below in a detailed manner- Tracking Transactions: It helps in keeping a tab on all the activities that are performed
by the company so that it can help in adding the value to the performance of the firm in
the long run and thus helping the firms like Marks and Spencer in tracking their
transactions.
 Determine business position: The financial statement helps the company like Marks and
Spencer to analyse its overall positioning in the market and thus appropriate measures
can be taken in that regard (Gregor, 2019).
Examination and analysis of the various functions that are performed by the HR department
The department of the HR plays a very important and crucial role at the same time as it
helps in recruiting talented and intellectual personnel’s in the company so that they can use their
expertise knowledge in the upliftment of the company in the long run. There are a number of
different functions that are performed by the HR department and thus all of them are discussed
below in detail- Recruiting and Selection: It can be seen from the H&M’s Hr department that they
choose the best candidate from the number of alternatives that are available in the
industry so that the best fit individual can be selected. Learning and development: the Hr department of the companies like H&M analyses the
overall performance of the firm and then appropriately provides various skill and
development programs so that they can grow in the competitive market.
Identification and then outlining the various features of the legislations of the employment
There are a number of different factors but the most important ones are discussed below in
detail- National minimum wage Act-1998: It is an act that is formulated so that a person can be
guaranteed a minimum amount that is essential so as to fulfil the basic requirements of
that person and in UK it is prescribed that a sum of £8.21 will be given by the companies
to persons above age 25 so that they can meet their basic requirements.
 Employment equality Act 2010: This act is related with the discrimination that prevails in
the industry on the basis of caste, colour, creed, religion, etc. and thus this act ensures
that there is no such discrimination in the workplace and equality must prevail.
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TASK 3- Accounting workshop
Interpretation of the relevant information that is related with the profit and loss statement
The interpretation of the Tesco’s profit and loss account has been done in this regard and
since the revenue of the firm jumped from last year which is the result of implementation of the
new measures that helped the company to cut down its costs and increase its profitability (Harris
and McCrae, 2019).
(Sources: Profit and loss account, 2020)
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Illustration 1: Profit and loss account, 2020

TASK 4- Teams
Analysis of the role of others within the business
There are various roles and responsibilities of each and every person in the business firm
as a leader of the team helps all the individuals to operate in a fixed manner so that all the goals
and objectives can be achieved in an effective and efficient manner. Shapers provide a definite
plan that can be implemented in the future while implementers implement that plan in a précised
format. While the finishers in the company gives a final touch to the project so that all the errors
can be removed (Le Grange, 2017).
Evaluation of the different stages of the development of a team
It is very important to develop a team in a company and in this regard Tuckman theory is
used since it is highly effective and is as follows- Forming: In this stage formation is done of the persons that possess different skill set. Storming: It is a stage in which discussions takes place so that it can lead to the emerging
of the idea that can help the company to grow. Norming: It is a stage in which discussions and conflicts are solved so as to enhance the
overall performance of the company. Performing: In this stage all the concentration is given on performing in a very precise
format so that it can lead to the overall development. Adjourning: It is a stage in which an analysis is done of the performance so that it can
lead to the growth of the firm in the long run.
(Source: 5 Stages of Team Development, 2021)
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Illustration 2: 5 Stages of Team Development, 2021

Evaluation of the theories of motivation
There are mainly three theories of motivation that are discussed below-
Maslow's Hierarchy of needs- It is related with the behaviour of the human and is classifies
in the terms of needs and thus includes various stages that are- Physiological: Includes basic needs of food, clothes and shelter (Nesterova, Kopcha and
Myhalchinets, 2020). Safety: Includes security and safety aspect of the job, health, family, etc. Love and belonging: Includes aspects that are related with one’s belongingness and
emotional connect with others. Self esteem: Includes status and self recognition needs.
 Self actualization: Includes the factors of personal growth and development.
(Source: Maslow's hierarchy of needs, 2021)
Herzberg theory- It is a theory that was developed by Frederick Herzberg and it says
that it is very important as well as crucial to keep the morale of the employees high and increase
the satisfaction of job and on the other hand there should be a reduction of poor hygiene factors
that results in the decreased job satisfaction.
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Illustration 3: Maslow's hierarchy of needs, 2021

(Source: Herzberg’s Motivation Theory – Two Factor Theory, 2018)
Theory X and Theory Y- It is a two factor theory that was developed by Douglas Mc.
Gregor and it says that theory X is the direction that is needed over an individual while the Y is
related with the modern nature of a human being and the former one includes close supervision,
autocratic leadership and control of subordinates. While the latter one is related with having
more freedom of work.
(Source: Douglas McGregor Theory X Theory Y, 2013)
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Illustration 5: Douglas McGregor Theory X Theory Y, 2013
Illustration 4: Herzberg’s Motivation
Theory – Two Factor Theory, 2018

Evaluation of different kinds of leadership
A leader is one of the most important person as it helps in achieving the desired results by
coordinating the efforts of others and the different kinds of leadership skills are as follows- Autocratic leadership: It is a style in which leader has the power and thus controls the
overall working of the company. Democratic leadership: It is a style of leadership in which ideas and innovative skills of
others are valued and taken into consideration. Laissez-faire leadership: It is a style in which decisions are taken by the subordinates
and thus reduces the time taken in making decisions.
 Transformational leadership: It is a style in which a leader motivates the individuals to
work in an effective and efficient manner and also it is very flexible in nature that helps it
in changing according to the business environment (Vairo, Bopp and Sims, 2017).
Task 5 – Customer service
Impact of the services of the customers in the sector of business
In PPT
CONCLUSION
It can be concluded from the above that there are many aspects that directly as well as
indirectly affects the working of a firm and thus it is very important to analyse and evaluate all of
them so that it can add value to the company in the long run scenario.
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REFERENCES
Books and journals
Affia, S.E., Akang, A. and Aniefiok, A., 2020. Entrepreneurial Skills and Management of Small
And Medium Scale Businesses in Nigeria. Ademola, JA (2000). Planning and
Controlling the Small Scale Business World, Strategy Issues in the Management of
Small Scale Enterprises in Nigeria. Benin City: Joesag Associates. Adewale, O.(2008).
Small Business and Anichiti, A. and Butnaru, G.I., 2020. From the concept of
organizational adaptation to strategies for adaptation of tourism organizations and
businesses. Revista de turism-studii si cercetari in turism, (29).
Gregor, D.E., 2019. Navigating the Seas of Change: How Small Businesses Respond to
Environmental Dynamism (Doctoral dissertation).
Harris, N. and McCrae, J., 2019. Perceptions of tax and participation in the cash economy:
examining the role of motivational postures in small businesses. Centre for Tax System
Integrity (CTSI), Research School of Social Sciences, The Australian National
University.
Le Grange, A., 2017. An investigation of the potential interrelationships between the coping-
values of entrepreneurs and the developmental stages of their businesses (Doctoral
dissertation, Stellenbosch: Stellenbosch University).
Nesterova, S., Kopcha, V. and Myhalchinets, H., 2020. State support for small and medium-sized
businesses in modern conditions. University Economic Bulletin, (46), pp.127-132.
Vairo, N., Bopp, M. and Sims, D., 2017. Best practices for businesses promoting bicycling.
International Journal of Health Promotion and Education, 55(5-6), pp.298-310.
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