This presentation discusses the key operational functions of managers, different operational approaches in the management of a company, the impact of external factors, and strategies to improve operational efficiency. It provides insights into the operations of Tesco and suggests ways for the company to enhance its services.
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Names: Professor: Course: Institution: Date: Leadership and Management Concepts
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Introduction Key operations of the company includes: Tesco extra Tesco Superstores Tesco express Tesco metro One stop Petrol stations Home shopping Tesco Clubcards
Key operational functions of managers Financial Operations Managers ensure all financial resources have been clearly accounted for and allocated according to needs. Product design operations Managers oversee the and consent product designs that the production team introduces to the company (Lunenburg, 2011). They also provide financial assistance. Ensure company’s quality level is maintained
Continuation….. Supply Chain Operations This involves distribution of merchandise to its stores and to consumers. Managers control the supply chain They also maintain link the company to manufacturers Daily Operations Managers plan, delegate, enforce policies and supervise daily activities.
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Continuation.. Marketing operations This involves advertising company products and services Managers in this operational functions are responsible for: Setting marketing objectives Designing marketing goals Selecting marketing teams Monitoring and evaluating marketing results
Operational Approaches and their Values Different operational approaches can be used in the management of the company; Corporate strategy and cross functional interactions Customer driven approach Product development Developing competitive priorities
Continuation.. Corporate strategy and cross functional interactions This involves interconnecting all the divisions in the company to form one system and support each other(Fisher, 2010). –Its value it increased productivity, coordination and interrelations. Customer driven approach Based on strategies that conform to changing customer needs. –Its value is increasing customer satisfaction, loyalty and retention
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Continuation… Product development This approach involves designing and innovating products/services with added values. –Its major value is increasing sales and attracting more consumers Developing competitive priorities Evaluating operational costs, distribution channels, marketing and product quality(Reid & Sanders, 2015). –The value of this approach is achievement of streamlines operations.
Impact of External Factors Slowed implementation of decisions External factors such as political and legal issues slows implementation of business decisions by managers. Increased resistance Due to sociocultural influence, decisions related to change may be opposed by employees and consumers basing on their respective cultures.
Continuation… Uncertainty about the market When economic influences comes to play, issues such as price and inflation fluctuation makes decision making complex due to uncertainty(Pimentel, Kuntz & Elenkov, 2010).
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Improving Operational Efficiency Information access By providing employees with needed information and easy access, they will learn to follow all policies and protocols (Fisher, 2010). Connecting business departments Establishing a common goal for all department Integrating functionality of all sections in the organisation
Continuation… Automation of processes 1.With the current technology, automation will increase service delivery rather than using manual processes. 2.Streamlining communication When communication is efficient and easy, employees feel valued and improve their performance tremendously (Reid & Sanders, 2015).
Conclusion Tesco’s operations are substantially well undertaken owing to its organized management structure. The managers have distinctive roles depending on the type of operation they are handling. Moving forward; –The company needs to automate its services completely. –It can also introduce home delivery of all merchandize ordered either in physically or through their website.
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References Fisher, C. (2010) Happiness at Work.International Journal of Management Reviews, 12(4), pp.384-412. Lunenburg, F. (2011) Leadership versus management: A key distinction —At least in theory,International Journal of Management, Business, and Administration, 14(1) pp. 1-4. Pimentel, J., Kuntz, J. and Elenkov, D. (2010) Ethical decision‐making: an integrative model for business practice.European Business Review, 22(4), pp.359-376. Reid, R. and Sanders, N. (2015)Operations Management, Binder Ready Version: An Integrated Approach. 6th ed. New York: Wiley.