Leadership and Strategic Management Assignment - Tesco plc
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Added on 2020-10-22
Leadership and Strategic Management Assignment - Tesco plc
Added on 2020-10-22
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Leadership and strategicmanagement
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Outlining the current issues in retail business.............................................................................3Critical analysis and evaluation of leadership competencies of different leaders on design,planning and implementation of corporate plan or strategy........................................................4Evaluation of leader and leadership traits using different theories and its relation to strategicmanagement of the organisation.................................................................................................6Underpinning Theories for critical analysis of leadership and strategic management with itsrole on leadership and examining of relevant leadership theory with effectiverecommendations........................................................................................................................9Summery of skill set and assessment of personal learning.......................................................11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONLeadership will help in suitable increase functional capability of the organisation byeffective management of wide range of business operations that supports a better rise in overalloperations of company. Leadership helps the firm to mitigate various issues and reduce theirimpact using various theories and measures to maintain the sustainability of the organisation(Renz and Herman., 2016). A good leader aids in guiding the employee's to perform in a betterway and this assist in suitable improvement in operational capability of firm. Good and positiveleadership will help in suitable rise in ability to meet the aims and objectives set by the firm.Other than this, it will help in suitable rise in efficiency of the firm (Barney, 2014). For the firm,Tesco plc has been taken in consideration which is the UK based retail firm. This report will laya rise in leadership traits that will help in assessment of strength and weaknesses of a CEO as aleader of the firm to rise in operational capability of firm (Fitzroy, Hulbert and O'Shannassy,2016). It will involve the better rise in operational competencies affecting design, planning andimplementation. Various leadership measures are analysed and interlinked in between leadershipand strategic management at Tesco plc. Also, various effective leadership theories and measuressuch as a Leadership Traits Questionnaire and Kolb's learning theory is been analysed in the firm(Ginter, 2018).MAIN BODYOutlining the current issues in retail businessThe retail sector is facing a vast range of business operations that has impacted suitablerise in operational capability of the firm. The mitigation of these factors will support that willhelp in good growth and development of organisation. As globalisation is increasing, retail firmslike Tesco plc are facing various issues which have impacted growth and development ofoperations. This has also helped in suitable rise in functional capability of the firm and thus, itwill give a good support in carrying out the business operations of the company in a better way.Other than this, it will help in suitable rise of operational capability of retail entity in a better way(Goetsch and Davis, 2014). The leaders at firm will see through better rise in compatibility oforganisation by mitigating or reducing effect of these retail factors. Some major issues that arebeing faced by the firm are:Employee's Turnover: As the global competition is increasing, the dissatisfaction levelamong the employees is also rising to a high extent. Due to inability to cope up with
stress level and growing competition, workforce at Tesco plc will have to look after theadoption of suitable and innovative practices to avoid such dreadful and deterioratingconditions. Thus, leaders or managers at cited enterprise have to take effective step toensure employee’s retention in the firm.A good leader will look after the employeeretention and growth measures that will support a good rise in the effectiveness of theorganisation.For instance the CEO will help in taking and implementing proper measuresto retain its work force at Tesco plc.Pricing: With opening of global market and entry of many retail firms in field,competition has increased which has forced retailers to cut down cost to attract maximumnumber of customers and meet operational requirements of organisation. This hasimpacted auditing and overall financial management of firm. Thus, in such case,organisation has to handle business operations in the market that will improve overalloperational capability of organisation. Leader has to see through effective management ofoperations in a better way (Rothaermel, 2015).The leaders will see through the effectivehandling of the pricing strategies in order to lurk in maximum number of potentialcustomer towards the firm.As a top leader of the firm, The CEO will have the crucialrole in deciding the pricing of various commodities manufactured by the retail firm.Economic changes: Tesco plc operates on international level which makes the firmsusceptible to different kinds of economic changes that occur at global level in a firm. Itwill affect the overall operations of firm that are required to be taken in consideration inorder to meet the operational requirements of company. Other than this, it will give rise inoperational capability of organisation which will lay a deep and crucial effect onoperational capability of a firm. Leaders at Tesco plc on global level will see through thebetter handling of business operations and economic stability of firm (Renz and Herman.,2016).The leaders at Tesco plc will see through the effective handling of the operationsthat will support a good handling of various effective measures to improve the economicstability of the organisation and reduces the disruptions to a greater extent.Being thesenior most leader of the organisation, a CEO will analyse and implement variouseconomic strategies that will be beneficial for the cited retail entity.Technical advancement: Adoption of the latest technology will help in improving theoverall functionality of organisation that will support a good control on business
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