Introduction to Business Management

INTRODUCTION TO
BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Part A...............................................................................................................................................3
Management................................................................................................................................3
Part B- Business environment.........................................................................................................5
1 a) PESTLE Analysis of Tesco..................................................................................................5
b) Tesco policies and code of practices.......................................................................................7
c) Value of PESTEL method.......................................................................................................7
2. Porters five force analysis of Tesco.........................................................................................8
Part C- Corporate responsibility and national culture.....................................................................9
1. Practices utilize to promote and monitor corporate responsibility..........................................9
b) Corporate malpractice and philanthropic behaviour examples.............................................10
2. Five dimensions of national culture.......................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES................................................................................................................................1

INTRODUCTION
Business management is the regulation of coordinating various stages of actions through proper
planning. The concept is concerned with income along with profitability. Contemplation of
substitute uses of the necessary possessions means various fruitful processes must be budgeted
and evaluated. It is basically managing the coordination and organization of different business
activities. It involves activities related to planning, controlling, organising as well as monitoring
of business resources in order to meet the objectives of the policy. The basic purpose of usage of
effective management practices into business activities is to enhance the effectiveness of
employees, assignments, procedures and association in complete manner (Edum-Fotwe, F.,
2021).
In this report will discuss the concept of management through Mintzberg’s theory along with
effects of external environmental factors and porter’s five force framework to analyse
competitive environment. Apart from this, the study will also highlight the corporate
responsibilities along with dimensions of national culture.
MAIN BODY
Part A
Management
According to Henry Mintzberg, management is a skill that is learned through experiences and
can never simply be taught within the close space such as classroom. He recommends that
breaking down management roles and responsibilities and systematizes the workplace in order to
shorten difficult concepts. This helps in order to systematize companies into more well-
organized traditions, and thus allows each member of the firm to expand their own skills.
Mintzberg described a substantial difference among the activities of managers and what they said
to do. According to him manager’s job is specified by disruption, diversity and breakup of
activities and preference for personal contacts (Krakowski, S., 2021). Managers spend quality
time in order to schedule meetings and in order to maintain relationship outside meetings.
According to him, there are various roles that have been grouped into three areas i.e.
interpersonal, informational and decisional.

Interpersonal roles represent the relationships that a manager has to have with others. The
three roles are included in this category which is front man in order to complete formal
authorities and represent their symbolic position within the organization. As a leader, managers
have to bring together the requirements of an organization and those followers who are under
their command. And the last one is connection in order to deal with horizontal relationships
which represents about the importance of work activity.
Informational roles of managers represent their roles as supervise, disseminator as well as
spokesperson. A manager plays an important role in monitoring the work of employees within
the organization along with receiving information. The process of transmitting information from
one person to another comes under the role as disseminator (Wang, Y., 2018). Taking on the role
of spokesperson, managers give important information about serious issues which are concerning
the organization.
In order to fulfil decisional roles, managers have to act according to different classes of
decisions such as entrepreneurs, trouble handler, resource allocator and negotiator. Managers
have to act various roles both in initiating changes and take active part in deciding about changes
that needs to be happening within the establishment.
With various researches it has been evaluated that critical thinking approach helps the managers
or entrepreneurs to consider planned as well as unintentional consequences of behaviour on their
teams, company and communities. Establishments always require managers who think
independently without judging and forecast patterns of behaviours and processes. With the help
of critical thinking approach, managers are able to make better decisions help to evaluate the
effects and consequences of those decisions (Ansoff, R., 2018). An efficient manager or critical
thinker completes their tasks with certain steps such as:
 With complete observance
 Understand the cause and effects of behaviour of individual
 Investigate the grounds of behaviour
 Propose various paths to change the behaviour
 Justify change to behaviour
 Consider the process utilised to propose the behaviour change