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Introduction to Business Management for Tesco 1 CONCLUSION 4 REFERENCES 5 INTRODUCTION Introduction to Business Management

   

Added on  2020-10-05

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Introduction to BusinessManagement
Introduction to Business Management for Tesco 1 CONCLUSION 4 REFERENCES 5 INTRODUCTION Introduction to Business Management_1
Table of ContentsINTRODUCTION...........................................................................................................................1PESTEL analysis for Tesco........................................................................................................1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
Introduction to Business Management for Tesco 1 CONCLUSION 4 REFERENCES 5 INTRODUCTION Introduction to Business Management_2
INTRODUCTIONBusiness management is the management and coordination of responsibilities to achievedesired goals and objectives of the business. Business management consists of differentinterconnected functions to run the company such as organising, analysing, controlling, staffing,planning, and directing to perform operations to fulfil all needs and requirements to achievegoals (Franz and Kirchmer2012). Business management is the act for operating availableresources effectively and efficiently to accomplish target and objectives.PESTEL analysis for TescoPESTEL is an analytical tool which is used to analyse unpredictable externalenvironment factors affecting to organisation. PESTEL is a framework used by businessmarketers to monitor macro-environmental factors that have an impact on an organisation.Tesco is a multinational retailer company of UK, which has 14 stores across the world (Song,Sun and Jin 2017). PESTEL analysis is used in Tesco to emphasize on external factors affectingto organisation and know how company utilise its resources to gain objectives for surviving inthe business market.Political:Since organisation is operating in 14 different countries political factors greatly affect theperformance of Tesco. These Factors include tax rates, legislations, unemployment rate, politicalinstability, economic condition of countries where, Tesco is operating the business. For Example,import tax on goods can affect the performance of Tesco because goods are imported fromoutside UK. Due to the instability in financial in the world, many government forces to the retailbusiness to provide the employment opportunities to the local people. Tesco plays a vital role inproviding employment to local people and follow the employment legislation of government.Tesco affected the new tax measure by the UK government. The VAT rate was increased by17.5% to 20% to increase government revenue by 13 billion pound per year (Rahman,Saharuddin and Rasdi, 2014). Therefore, increase in the VAT rate decreased sales revenuegenerated by the Tesco.Economic:
Introduction to Business Management for Tesco 1 CONCLUSION 4 REFERENCES 5 INTRODUCTION Introduction to Business Management_3

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