This report covers the importance of leadership and management skills in business, with a focus on Tesco plc. It includes an analysis and comparison of leadership and management, key performance metrics, and evaluation of contemporary leadership theory.
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Developing leadership and management skills
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Executive summary This report covers the two most essential areas of the business that is leadership and management and how these factors directly contributes in attainment of the set goals and objectives. Further this report aims to do a mere comparison of both these respective areas and how they are different in terms of factors that are related with the organisation. It also covers the management issues in the organisation and how these issues need to be dealt with in order to make the organisation successful. The organisational culture is one of the major factor that directly contributes in the betterment of the company. Further the importance of effective management and leadership in the organisation is evaluated with the help of aspects that are related with the business.
Table of Contents Executive summary..........................................................................................................................2 INTRODUCTION...........................................................................................................................4 TASK...............................................................................................................................................4 Analysis and comparison of leadership and management..........................................................4 Key performance metrics of organizational sector/market/industry...........................................7 CONCLUSION..............................................................................................................................10 REFERENCES..............................................................................................................................11
INTRODUCTION Leadership is related to the quality of a person which is used by them to influence the will and behaviour of employees towards the achievement of goals and objectives of the organisation.Managementisrelatedtotheprocessof planning,organising,staffingand controlling the activitiesof the employeesto achieve the common goals effectively and efficiently. Both the activities are important for the success of organisation in the market. There are different types of activities and business functions are present in the organisation such as production,marketing,sellingandmanymore.Thesedepartmentsandfunctionsrequire coordination between then for the effective performance of their roles and management of the organisation perform this function and enables them to do so(Adams, 2018). Leadership’s plays an important role ensure the effectiveness in the workforce of the organisation. Work force is one of the most important resources for any organisation and it required proper motivation and mutual support to perform their functions effectively. The duty to provide motivation towards the work in the organisation are played by the leaders or the managers of the organisation. The organisation which is chosen here to demonstrate this report is the Tesco plc. This report provides brief discussion of executive summary. It also states the analyses and comparison of leadership and management and also a key performance matrices of organisation. It included tesco;s leadership and management performance. About the company Tesco plc is British multinational organisation which deals in grocery and other retail product. Theimportantdecisionrelatedtothebusinessoftheorganisationaretakenfromtheir headquarter which is located in Welwyn garden city, England. TASK Analysis and comparison of leadership and management Analyses of contemporary management theory The experts of management divided the management in two parts which is classical management theory and contemporary management theory. Both the theories are equally important for the success of organisation and it depend upon the nature size and ownership of the company that which management theory is used by the executives. Here the management of Used contingency
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theory to make the process of their business effective and the brief discussion related to the contingency theory are given below:contingency theory of management The approach of contingent management is based on the philosophy that the effectiveness of the management are contingent upon the interrelation of management roles and specific situations. The general meaning of this theory is that all the success and failure of the organisation are depend upon their capacity of the organisation to deal with the situation arises in the future(Al Thani, and et. al., 2020). This theory of management enables the management of the organisation to make the provisions today for the problems and threats arises in the future. The organisation which uses this theory in their business has to develop effective research and marketing frame work in their organisation. The main work of this department is to analyse various threats and opportunities from the environment and also their impact on the organisation in near future. After the analysation of these threats department is required to develop different strategies and policies and make ensure the implementation of these policies and strategies in the organisation. Advantages of the contingent theory There are many advantage of this theory for those organisation which uses this approach because it support the management of organisations in worst situation and protect the company from serious loss(Burrell, 2018).The brief discussion related to the same are given below. ď‚·One of the most important advantage of this management approach is that it provides realistic and clear view of the management. ď‚·This approach of the management makes the mangers of the organisation situation oriented in place of stereo type. ď‚·It promotes the innovation and creativity in the organisation. Disadvantages of contingent theory It is not possible that that any theory has only positive aspect or advantage, it also have some disadvantage and negative impact on the management of organisation and the brief discussion related to the same are given below: ď‚·One of the greatest disadvantage of this approach is that it does not have any theoretical base. ď‚·It does not provide course of action.
Evaluating contemporary leadership theory Leadership is an ability of a managers which is used by the to influence the behaviour and attitude of the employees towards the achievement of organisational goals and objectives (Deters, 2017). Managers acts as role model for their employees because employees perform those actions in the organisation which they see to perform their managers and it is the duty of the managers to acts ethically and professionally in the organisation because of the positive culture in the organisation.Leadership theory of Tesco One of the most important mission of the Tesco is to established their stores of the company in all over the world. This objective of the company not only requires capital and management but also requires effective leadership in the organisation because it motivates the employees to achieve the expansion goals of the organisation(Gautam, 2019).The management of Tesco uses many leadership theories and concepts in the organisation such as transactional leadership theory, transformational leadership theory and contingency theory of leadership. The brief discussion related to these theories are given below: ď‚·Transactional theory:-This theory has three elements such as management by exception, management by passive and contingency reward. The exception theory are applied by managers when they respect and trust in the employees and when there fails to perform their duty it applied passive theoryTupesis and et. al., 2021). ď‚·Contingency theory: -This theory is related to the factors of external environment which influence the approach of leadership in different aspects (Gopee and Galloway, 2017). This theory concluded that not any leadership skill is suitable and management skills and abilities are superior. Comparison of leadership and management ď‚·The simple difference is proved from the meaning such as management is a process of managing people in the organisation and the leadership is related to lead the people and influence their behaviour. ď‚·The duty of the leadership is performed by the managers in the organisation. ď‚·Themanagementonlyfollowsformalstyleandtheleadershipcanbeformalor information depend upon the situation.
Management is wider term because leadership is also a part of the management in the organisation. Key performance metrics of organizational sector/market/industry Key performance indicators related to those indicators which helps the organisation to evaluate their performance and also indicates the future growth of the organisation on the basis of previous data and trends (Hickman and Akdere, 2018). There are different types of indicators are present in the market it depends upon the organisation’s management that which indicator they select for their organisation and this decision are taken by the management of organisation. The management of Tesco and developed many key performance indicators from years ago but now the company used these indicators in their organisation. Sales: -One of the most important and useful indicator which the management of Tesco use in their organisation to evaluate the performance of the organisation. The managers of the organisation conduct analyse deep analyses of the previous sales record and compare them from the current sale. This indicator indicates the financial position of the business. Profit: -The profit of the organisation are also a good indicator and performance evaluator for the organisation. The profits of the organisation play an important role for the evaluation of yearly performance of the company. Operating cash flow: -The cash flow is a statement which Indicate the flow of cash in the organisation. The management of Tesco uses this indicator and evaluate all the income and expenses of cash and evaluate the performance of the organisation. Customer recommend us and come back time and again :-One of the most attractive and useful method for evaluating the performance of the company is customer feedback. The management of Tesco has developed effective feedback framework in their organisation in which the customers can provide their suggestions. Importance leadership and management performance Leadership and management plays an important role in the organisation because it is the basic need of the business and their employees that they are managed properly. The management of the organisation helps the top level managers to effectively manage all the activities of the business so that the efficiency can be achieved in the organisation which helps to perform in the market. The contingency leadership and management of Tesco improves many aspect of the
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organisation so that the business can achieve success. The brief discussion related to the importance of leadership and management performance are given below: Team effectiveness The management and leadership helps the organisation to develop effective teams in the company. The team development plays a important role in the organisation because all the task and project are completed by the team in the organisation (Jamieson and Donald, 2020).One of the most important advantage of the team is that it increases the use of creativity and innovation in the organisation because team includes many members which has different and unique ideas and suggestion on any topic. It is the duty of the managers to listen the suggestions and ideas of all the employees and select the best possible suggestion for the organisation. Managers plays a role of leader in team and provide those considerable resources and motivation which increases their effectiveness. The managers of Tesco helps develops many teams in the organisation for the completion of project and task given by the management of the organisation. The selection of member for the team are based on the performance of the employees in the organisation and also their confidence (Mumford and Higgs, C.A. eds., 2019). These managers provided all the key material to the team member so that all the work are completed on time and with great accuracy. The role of the managers are not only limited to the completion of task but also evaluate the performance of each member separately so that the good performers are rewarded and those employees can further keep working hard.Organisational Culture-This refers to the collection of expectations, values and practices which is followed by the employees in the organisation. The actions that are taken by the team members working in the organisation is one of the major component that constitutes to the effective organisational culture in the business (Kerrin and et. al.,2017).In context of Tesco, they follow an organisational culture where they promote a usage of good practices so that every employee working in the organisation can ensure that they are respected in the company.Employee engagement-This is one of the human resource concept where the level of dedication and enthusiasm that the worker has towards the job is described. An employee who is well engaged in the activities is more likely to perform well as they have dedicated their time and efforts in the business so that the organisation can attain their goals and objectives. In context of Tesco, they have a good employee engagement program where the employees get used to the company’s policies and procedure and further they work accordingly in the business. This
basically definesthe relationshipthat the employeeshave with the organisation and the relationship that the business have with the organisation. Engaged employees that are working in the Tesco feels that their efforts are respected and they are very likely to bring a positive change in the company.Organisational results-This comprises of the performance of the company throughout the year and how that performance has helped the business in attaining its end goals. Some of the end goals are often associated with the profitability factor of the company and how it effects the way in which the business operates in the environment(Moussa and Li, 2021).
CONCLUSION It is concluded from this report that both management and leadership is important for the organisation. The employees of the organisation provided motivation in organisation so that the goals and objectives of the organisation are achieved confidently. This function is provided by the managers by many ways such as rewards, recognition, appraisal, promotion and many more. These activities by the leaders increases the loyalty of employees towards the organisation. This report concludes the brief discussion related to theory of management used by the Tesco in their organisation. The contingency theory of management helps the organisation to make the measures for the future uncertainties. This help the company to make sure the growth in the market.Themostimportantandrecentadvantageofthistheoryistheextraordinary performance of Tesco in covid pandemic. The management of company focuses on the online shopping business from past years which benefits the company in these hard time. This report concluded different key performance indicators which the management of Tesco used in their organisation to evaluate the performance of the organisation in regular basis. This evluation is important because it enables the organisation to improve their weakness and also make sure the correction of mistake at right time. This report also concludes various leadership theories used by the management of Tesco such as transactional theory and contingency theory. All the activities related to the leadership are performed by the managers of the organisation. These manager used many theories which enables the behaviour of employees towards the work and also enables them to work in the organisation with the great strength.
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REFERENCES Books and Journals Adams, D., 2018.Mastering theories of educational leadership and management. University of Malaya Press. AlThani,andet.al.,2020.Theimpactofstrategicleadershiponcrisis management.International Journal of Asian Social Science,10(6), pp.307-326. Burrell, D.N., 2018. Exploring leadership coaching as a tool to improve the people management skills of information technology and cybersecurity project managers.HOLISTICA– Journal of Business and Public Administration,9(2), pp.107-126. Deters, J., 2017.Global leadership talent management: Successful selection of global leadership talents as an integrated process. Emerald Group Publishing. Gautam, P.K., 2019. Leadership and Management Theories in Indic Traditions.Journal of Defence Studies,13(1), pp.33-49. Gopee, N. and Galloway, J., 2017.Leadership and management in healthcare. Sage. Hickman, L. and Akdere, M., 2018. Effective leadership development in information technology: Building transformational and emergent leaders.Industrial and Commercial Training. Jamieson, M. and Donald, J., 2020. Building the engineering mindset: Developing leadership and management competencies in the engineering curriculum.Proceedings of the Canadian Engineering Education Association (CEEA). Kerrin, M., and et. al.,2017. Entrepreneurship management skills requirements in an emerging economy: A South African outlook.The Southern African Journal of Entrepreneurship and Small Business Management,9(1), pp.1-10. Moussa, A. and Li, Y., 2021, July. Development of Leadership and Communication Skills in an Experiential Learning Project Management Course. In2021 ASEE Virtual Annual Conference Content Access. Mumford, M.D. and Higgs, C.A. eds., 2019.Leader thinking skills: Capacities for contemporary leadership. Routledge. Tupesis, J.P., and et. al., 2021. Leadership matters: needs assessment and framework for the internationalfederationforemergencymedicineadministrativeleadership curriculum.AEM Education and Training,5(3), p.e10515.