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Management And Operations Concept - PDF

   

Added on  2020-12-10

17 Pages5057 Words376 Views
Business DevelopmentFinanceLeadership Management
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Management And Operations
Management And Operations Concept - PDF_1

Table of ContentsINTRODUCTION...........................................................................................................................1Overview of the chosen company................................................................................................1LO1..................................................................................................................................................11. Define the concept and importance of operations in business.................................................12. Management functions.............................................................................................................23 Management theories and required skills for effective manager..............................................34. Leadership theory and skills....................................................................................................45 Leadership v/s management......................................................................................................5LO2..................................................................................................................................................66 Difference between leader and manager...................................................................................6LO3..................................................................................................................................................77 Theory of operations management............................................................................................78 Operations management approach............................................................................................8LO4................................................................................................................................................109 Operational functions of managers.........................................................................................1010 Leadership and management dimensions of business environment ....................................1111 Relationship between leadership and management .............................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
Management And Operations Concept - PDF_2

INTRODUCTIONOverview of the chosen companyTesco PLC is a multinational company who is leading in retailing industry. Itsheadquarters is in England, United Kingdom (UK). It is kind of private limited enterprise. It isconsidered to be third largest organizationin the world. This company was founded by JackCohen in year 1919. It has 6500+ stores at worldwide. This firm is serving its products andservices at the global level. It has give employment to around 4,60,000 employees. Currently itskey people are John Allan who is Non-Executive Chairman and Dave Lewis who is Group CEOof enterprise (Tesco PLC (TSCO.L), 2018). Present report will highlight the meaning of manager, leader & operations andimportance of operations in the organizational context. It will tell about the managementfunctions and management theories being used by organisation. It will also demonstrate aboutthe skills of effective managers. It will show the leadership theory and its skills as well. It willdescribe the differences between leadership and management as well as differences betweenmanagers and leaders. It will tell about the various theories of operations management and itsapproaches. It will describe the functions of operational functions. At last, it will highlightleadership and management in the context of business environmental dimensions andrelationship with various stakeholders.LO11. Define the concept and importance of operations in businessConceptsLeaderLeader is a person of organization who try to influence and motivate the organizationalemployees and team members in order to achieve their personal as well as organizational goals.Leader is the one who create vision for the organization and direct the employees to achieve thegoals through following vision. ManagerManager is a person of organization who handle and create the co-ordination betweenemployees, activities and procedures with goals and objectives in order to achieve theorganizational goals. Manager is the one who create policy, strategy and goals for theorganisation.1
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OperationsOperations refers to the combinations of all the activities through which company is ableto transform their resources, data, information and materials into consumable goods and services.This help organisation to create some values which is beneficial for all the stakeholders of thecompany. Tesco has various operations such as Marketing, Finance, Human resources, Logistics,Administration and Inventory management etc. (Akalin, Huang and Willems, 2016). Importance of Operations in Tesco OrganisationWith the help of various kinds of operations, Tesco is able to sale its products andservices which lead company to earn profitability and bear various kinds of costs. It helps Tescoto manage its human resources requirements and fulfil their needs and wants which is beneficialfor the employees' personal development. It helps Tesco to build their brand image and employerbrand image. It also helps organisation to understand its hierarchical structure which lead tocompletion of tasks on time and achievement of organisational goals. 2. Management functionsManagement plays a vital role in the organization. It is an essential part of the companythat performs different activities to achieve desired objectives of Tesco. There are five functionsof management such as:Planning:- It is the process of deciding in advance what to do, How to do and when todo. It helps in deciding future goal of the business. It is a systematic thinking that an individualplans for his starting to its future end goal. It is pervasive in nature. In Tesco planning is done inadvance to achieve the organizational goal. It helps in avoiding risk, uncertainties for futurecourse of action.Organizing:- It refers to the process that helps in bringing physical, financial, humanresource and developing relationship between employees for achieving organizational goal ofTesco. It includes various process such as identifying activities and then classify them into groupof activities and then assigning duties. Further authority is delegate and responsibility is beingcreated finally coordination occurred between relationship between its authority (Archer, 2017).Staffing:- It is the process of hiring employees based on their qualification for Tesco atboth managerial and non- managerial levels. It includes process of selecting, training anddevelopment, evaluating and maintaining employees in the company by providing incentives tothem.2
Management And Operations Concept - PDF_4

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