Introduction to Business Studies

This document provides an introduction to business studies, focusing on the management study of individuals in order to maintain effective productivity and achieve goals. It discusses the application of motivational theories, specifically Maslow's Hierarchy of Needs and McClelland's Human Motivation Theory. The advantages and disadvantages of these theories are also explored. The document is based on a case study of motivation techniques at Jack stores, which is formed by TESCO.

Introduction to Business
Studies

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
CONCLUSION................................................................................................................................4
REFERENCE...................................................................................................................................5

INTRODUCTION
Business studies refers to the management study of individuals in order to maintain
effective productivity which helps to accomplish appropriate goals and objectives in a perfect
way to gain huge profits. Along with business studies always consist several subject which all
are related with funds and managing a business. Moreover, this report is based on case study of
motivation techniques at Jack stores which is formed by TESCO. At last, motivational theories
along with advantages and disadvantages will get covered in this report.
MAIN BODY
TESCO is one of the best British multinational general merchandise and groceries retailer
that headquartered in Welwyn Garden City London, UK. Across the globe it is considered as a
third- largest retailer which deals with different types of products such as electronics. Clothing,
petrol, software, furniture, telecom and internet services. Having lots of stores globally so that
now HR assistant of this firm has opening new discount stores “JACK” which will be same as so
many stores of TESCO along with in this stores they will have large number of employees with
high skills and knowledge who are can easily increase their value and make these stores
powerful in front of customers (Gaur and Kumar, 2018). During all these activities HR assistant
is able to apply different types of motivational theories by which management system of TESCO
can get satisfied and able to achieve their targeted goals or objectives. There are two types of
motivational theories along with their advantages and disadvantages which are followed by HR
assistant of TESCO, those are mentioned below:
Maslow's Hierarchy of Needs
It is known as one of the best motivational theory in term of psychology on the behalf of
comparison of five-tier model of individual needs, for instance as per the hierarchy level within
the five-tier model there are so many needs that includes safety, psychological, self actualisation
and belonging. With the help of this HR assistant of TESCO is able to apply so many new ideas
concepts so that employees can work accordingly and able to understand their customer's needs
and wants in a better way. So the particular hierarchy of needs includes so many factors within
five stage model, those are discussed below:
Physiological needs: This type of needs generally based on the biological needs for
individual survival that consist so many things like shelter, food, drink, sleep, warmth and so on.
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If these needs of humans are not satisfied than human body can not function properly. Same as
Jack Stores, if HR assistant of Tesco will give satisfaction to employees so that they can achieve
targeted goals.
Safety needs: It is necessary for firm or Jack stores to bring so many safety tools for their
employees so that they can use machines in a proper way and able to attain their target at
competitive scenario.
Love and belongingness needs: It is considered as a third level of this theory as human
is social and concern feeling of belongingness. If within Jack discount stores HR assistant will
apply positive working culture so that it motivates employees to work more and maximise firm's
value.
Esteem needs: Within the Maslow theory it shows the achievement of Tesco whereas,
HR assistant has desire to accomplish their goals towards new business Jack Stores. So that they
can develop dignity.
Self-actualization needs: It mainly includes self-fulfilment, huge experiences, realizing
personal potential and so on. On the behalf of this HR assistant of TESCO has desired to manage
business successfully through giving huge satisfaction to people along with workforce.
Advantages of Maslow's Hierarchy of Needs:
The main advantage of this theory is, it has so many types of human nature which could
be good for HR assistant with the help of this valuable approach they can easily satisfy
employee's needs and wants on time.
Disadvantages:
The huge problem of this theory is that it can not be verified theoretically just because there no
such kind of method to evaluate appropriate satisfaction level of humans. So that sometimes it
can be loose employee's confidence (Brannen, Piekkari and Tietze, 2017).
McClelland's Human Motivation Theory
This theory gives a new ways in order to manage and different kinds of people with
several personalities in a easiest way. Along with it is necessary for to know that what motivates
people the most, for this HR assistant of TESCO is needed to take feedback and praise from this
people as well as employees. Accordingly HR assistant can motivated employees and make new
business effective (Schoorl and et.al., 2017). There are three motivational schemes which is used
by HR assistant of TESCO, those are going to be discussed below:
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Achievement: This is necessary term for HR assistant to determine their own
competence of people so that they can achieve high goals towards management of TESCO and
Jack discount stores. It will help them to encourage their employees to achieve appropriate
objectives to gain competitive advantages.
Affiliation: It depends upon nature and behaviour of people, in context with TESCO it is
needed for HR assistant to use this approach towards motivating employees to gain social
gathering for new business that will improve work performance and increase value of firm.
Power: It is one of the best way or need that help HR assistant of Tesco to control works
of people/employees. Through giving so many effective tools and techniques they can improve
entire working performance of people (Perchard, MacKenzie, Decker and Favero, 2017).
Advantages of McClelland's Human Motivation Theory:
The biggest advantage of this theory is that employees of new business Jack discount
stores are able to take task as per their choice and motivates others.
Disadvantages:
The major disadvantage of this theory is focuses on power, affiliation and achievement
along with ignore basic necessities such as food, shelter etc., which is considered as a primary
needs of employees.
From the above theories this can be said that, HR assistant can easily identify
motivational theories and able to motivate its employees through applying so many approaches
that make management system more better of TESCO and Jack discount stores.
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CONCLUSION
According to the above report it has been concluded that, motivation theories are one of
the best way to motivate firm's employees and others. With the help of these assorted theories
people can easily achieve their target and able to sustain for long period of time at marketplace.
It helps to to achieve targeted goals from their new and old business and maximise their values in
front of their competitors.
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REFERENCE
Book and Journal
Gaur, A. and Kumar, M., 2018. A systematic approach to conducting review studies: An
assessment of content analysis in 25 years of IB research. Journal of World Business.
53(2). pp.280-289.
Brannen, M.Y., Piekkari, R. and Tietze, S., 2017. The multifaceted role of language in
international business: Unpacking the forms, functions and features of a critical challenge
to MNC theory and performance. In Language in international business (pp. 139-162).
Palgrave Macmillan, Cham.
Perchard, and et. al., 2017. Clio in the business school: Historical approaches in strategy,
international business and entrepreneurship. Business History. 59(6). pp.904-927.
Schoorl, M., and et. al., 2017. Introduction of a Systemic Innovation Management Model for
Facilitating Process Innovation. European Journal of Economics and Business Studies.
3(1). pp.222-229.
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