Leadership Styles & Management Practices of Tesco
Added on 2021-01-02
9 Pages2782 Words15 Views
Context of Business IndividualReport
Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................11.History, summary and the rationale of the business of an enterprise.......................................12.Discussion of the vision, management practices, leadership styles and several strategies ofthe organization...........................................................................................................................23.Analyzing the above strategies' execution or implementation in the company.......................34.Recommendation on the improvement in the management practices, strategies and theleadership styles..........................................................................................................................4CONCLUSION ...............................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONBusiness report means the document that contains the information organized in the graphic,tabular form, narrative in an orderly manner. It is prepared with the objective of communicatingthe factual information regarding the management of the business and that serves the purpose ofthe business. The present study is based on the Tesco, a global merchandise and groceriescompany which function its business as the retailer deals in a variety of products. Furthermore,the report includes the history and rationale of the enterprise. It also describes the leadershipstyles, strategies and management practices of the company with application of the theories andprinciples. The recommendations in relation to the improvement in management practices andleadership styles are also included in this report.TASK1.History, summary and the rationale of the business of an enterprise.Tesco begin its life in 1919 when the Jack Cohen started selling groceries in surplus fromthe stall in East End of the London. On the first day of selling, Mr Cohen earns a profit of £1from the revenue of £4. The brand of the Tesco firstly introduced in 1924, When tea shipmentwas bought by him from T.E Stock well. The letters and the initials of the Tesco were formed in1929, when Mr Cohen opened store of Tesco in the Burnt Oak in North London. The brandconsistently results in rising business in the 1930s at the time when Headquarters and thewarehouses were built by Mr Cohen in the North London. Tesco in 1932, became the privatecompany. The share price of the company floated on exchange with the amount of 25 p. Duringthe 1960s, the rapid expansion of the supermarkets was started by selling the more range ofproducts in the larger stores. In the 1961 the name of the brand was entered into the Guinnessbook as the record of the largest store in the Europe (Thiessen, 2019.). The first superstoreopened by the Tesco in Crawley in the 1968 at West Sussex. The Supermarkets changed the wayof buying of the people and the company to cover the whole UK builds a network of nationalstore, which leads to an continuous expansion and diversification into its other range of products.In the 1974, it became the first leading petrol retailer in the UK with the opening of its firststation of the petrol. The total of sales topped to £1 billion by the 1979 and the sales resulted asdoubled in 1982 more than to £2 billion. In the 1987, the corporate moved to corporate1
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