Introduction to Business Studies

An efficient company requires proper robust business strategies involving proper marketing, promotional activities and good satisfactory services by all departments within the organization. This report discusses how businesses is practised, strategies to work on, how competitors in the marketplace play a crucial role in tracking success rates by maintain the qualitative growth of the company report is based on Tesco company, its HR resources workings and functions of various departments. Shareholders and stakeholders interests should always be taken in mind for continuous growth, internal and external factors which affect the company by time.

Introduction to Business
studies

INTRODUCTION
 An efficient company requires proper robust business strategies involving
proper marketing, promotional activities and good satisfactory services by all
departments within the organization.
 This report discusses how businesses is practised, strategies to work on, how
competitors in the marketplace play a crucial role in tracking success rates by maintain
the qualitative growth of the company report is based on Tesco company, its HR
resources workings and functions of various departments.
 Shareholders and stakeholders interests should always be taken in mind for continuous
growth, internal and external factors which affect the company by time.

ROLE OF COLLABORATIVE PRACTISES
 Collaborative working practises keep the workforce in a company motivated by having a hormonal
atmosphere, bringing out everyone's strengths.
 Tesco Company plays a great role in elevating their morale, work progressively by advancement in
learning capacities, enhancing the resources of training and development put in them.
 Increasing connectedness within the management, by high delivery of work energies, by enriching a
healthy environment at workplace for their growth.
 Tesco values the corporate culture building, recognize the teammates and their efforts by motivating.
 Realising that every staff members voice is important and buy-in are necessary to achieve overall
growth in a company.

Factors affecting businesses internally and externally
STRENGTHS
 It is recognized as successful, biggest & high profit making industry across globe.
 It has solid history in UK, which shows their reliability & assure us it's long time run in
market.
WEAKNESSES
 Not every sub organization of Tesco is doing well. Some are facing serious impacts of
external factors. Tesco finance profit is a well-known example of it.
 Tesco group is largely dependent on UK, Europe for their product sales. They didn't give
necessary attention & time to other markets also where they are operating.

Cont.
OPPORTUNITIES
 Other countries where Tesco is not doing well, there may be option of joint
partnerships where domestic companies can help with the marketplace.
 Tesco group has huge chances of extending e-commerce & also to offer door to door
services to more areas.
THREATS
 Global financial crisis & less cash reserves imposes huge market threat worldwide.
 Competitiveness from big giants, who offers more varieties at less price possess a
great threat to global market share of Tesco.

Cont.
POLITICAL FACTORS
Since Tesco have operations across the world. Worldwide political circumstances has major impact on
the operations of Tesco. As a result of current worldwide financial crisis, governments of many countries
also encourages their retailers to provide employment to the domestic residents.
ECONOMIC FACTORS
Economic factors are considered to be major factors for Tesco. The industry should be conscious of any
change in policies or tax rates as these will affect demands, earnings, prices etc.
Tesco has the highest market share of around 30% in UK only, making them largely dependent on the
United Kingdom.

SOCIAL FACTORS
 Owing to different social trends across globe, Figures shows that in UK people have shown interest in mass shopping. As a result
Tesco enhanced it's non-edible items for sales. Nowadays consumers are becoming more health conscious, due to this their attitude
towards foods is fluctuating.
TECHNOLOGICAL FACTORS
The revolution in technologies created various fresh opportunities for the industry.
First, providing e-shopping to the customers & Second, providing self-checkout window, in order to provide them comfort.
ENVIRONMENTAL FACTORS
 Governments have imposed strict laws on companies regarding environmental issues, resulting great pressure on
companies to adapt strategies that would benefit environment & society. Tesco is clearly focused to lesson it's carbon footprint by 2020 to
aroung 50%.

CONCLUSION
 It can be concluded that role of HR, marketing and finance functions in Tesco groups are is so important
because they are responsible for smooth employee relationships, pay-scale, development and training.
 Marketing improved rich relations between consumers and industries. It assured Tesco group's
sustainability, it also created demands which are crucial for economic growth of Tesco group.
 Collaborative working practices also contributed majorly in growth and success of Tesco group.
 After doing SWOT and PESTEL analysis it can be concluded that, Tesco needs to give attention to
outside market also. Political factors, financial crisis made huge impact on Tesco groups operations.

REFERENCES
 Sheehan, C and et.al., 2016. The impact of HR political skill in the HRM and
organisational performance relationship. Australian Journal of Management. 41(1).
pp.161-181.
 Bodla, A. and Ningyu, T., 2017. Transformative HR practices and employee task
performance in high-tech firms: The role of employee adaptivity. Journal of
Organizational Change Management. 30(5). pp.710-724.
 Llopis-Amorós, M and et.al., 2018. The role of marketing communications