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Leadership Management Principles of Tesco Plc

   

Added on  2019-12-03

22 Pages8180 Words801 Views
STRATEGY

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Analysis of strategic direction of company......................................................................11.2 Strategic skills required by leader to achieve strategic ambitions ...................................21.3 Relationship between existing, required and future skills to achieve strategic ambitions3TASK 2............................................................................................................................................42.1 Discuss the opportunities to support leadership development.........................................4Task 3...............................................................................................................................................52.2 Construction of personal development plan to direct leadership development................52.3 Implementation process for personal development plan..................................................63.2 Assess of outcome against the objectives.........................................................................63.3 Review of leadership development plan...........................................................................73.4 Update leadership development plan................................................................................7TASK 4............................................................................................................................................73.1 Impact of achievement of objectives on strategic ambitions............................................7TASK 5............................................................................................................................................84.1 Impact of corporate commitment to staff welfare on company objectives......................84.2 Impact of staff welfare environment on achievement of organization objectives............94.3 Impact of commitment to employee welfare on organization value system..................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12

INTRODUCTIONEvery business required to have a set targets includes vision, mission and objectives.Tesco plc is a British multinational grocery and general merchandise retailer company,headquartered in Cheshnut, Hertfordshire, England, UK (Tesco plc, 2015). It is the secondlargest company in terms of revenue. The company is operating in 12 markets with a team of500000 people. This report helps us in identifying the vision, mission and goals of the company.Moreover, it identifies the strategic objectives so as to meet its set goals. In addition to it, thereport identifies different leadership and a management style prevails in Tesco Plc. Moreover,the report determined the deviation by making comparison between the set objectives andplanned outcome. TASK 11.1 Analysis of strategic direction of companyVision and Mission: It is very important for every organization to have a clear vision. Thecompany's vision, mission and goals are interrelated to each other. Tesco Plc has a core vision toremains constant resulted in long term business success. The vision of the company is to be themost highly valued business by customers, communities and shareholders (Aaker andJoachimsthaler, 2012). Moreover, Tesco's core mission is simple that we make what mattersbetter; together that describes the sort of company. It involves the five elements that aredescribed below: Wanted and needed around the worlda growing business, full of opportunitiesModern, innovative and full of ideasWinners locally whilst applying our skills globally (Tesco plc, 2015)Inspiring, earning trust and loyalty from customers, our colleagues and communities.Strategic objectives: Strategy is a plan that explains that how business uses its resourcesto achieves its goals. The company's vision drives the business and the values through a strategicplanning process. Tesco plc strategic objectives are concerned with fulfillment of its vision.Therefore, the business strategies are structured in such a way that helps the Tesco Plc to achieveits set target. This in turn, resulted in strong long term growth of the company (Charmaz, 2014).1

The strategic objectives are development of highly valued brands; provide qualified services arecompetitive prices.Management and leadership theory: There is a difference between management andleadership. Managers organize human and physical resources to achieve organization aims.However, leadership is about influencing, motivating and inspiring the people. Henry mintzbergsuggests two models for these purpose deliberate and emergent strategies.Deliberate strategies: The traditional way of deliberate strategy focuses on deliberatestrategy. According to Mintzberg deliberate strategies are those tactics that originated due tosome intention (Blumenthal and et.al, 2014). Most of business leaders prefer use of deliberatestrategy because it is underpinned by company mission, vision and objectives. But sometimesbusiness environment is not favorable and at that time is difficult to achieve an objective. If atthat time, company decided to use deliberate strategy consistently then it can entangled in verybig problemEmergent strategy: It can be seen as response to unexpected opportunities and problemsusually developed at business level strategies. On other hand, there are emergent strategies thatemerge or come in existence due to big change in the business environment (Landis, Hill andHarvey, 2014). These strategies are prepared suddenly in order to control specific situation. 1.2 Strategic skills required by a leader to achieve strategic ambitions Leader plays an important role in the organization includes both formal leadership role aswell as informal leadership style. Formal leadership role is assigned by the organization. Everyleader requires some skills so as to provide proper guidance to the employees. Some of theimportant skills of leaders are described below:Manage effectively: Leaders of Tesco Plc should have the quality to manage the workerseffectively. They have the skills of managing the workers effectively (Styles and Goddard,2014). They should provide proper direction and motivation to the workforce. Moreover, theyshould help them in difficulties.Communication: Tesco Plc leaders should communicate with the employees on a regularbasis. This helps in creating a better environment within the organization. Employees feel thatthey are the treated as the part of the organization resulted in increase efficiency (Micozzi, 2014).Motivation: It is considered as very important skill of leader. Every leader shouldmotivate the employees in order to increase their productivity. Leaders can motivate the2

employees by providing better working environment and proper communication. This in turn,helps Tesco Plc to increase the amount of profitability and business growth.Building morale: It involves pulling everyone together to work towards a common statedgoal. Tesco Plc leaders should build morale within the employees so as to motivate theworkforce (Javed, Jaffari and Rahim, 2014). Coordination: Tesco Plc leaders should establish coordination between workers whomworks are related with each other. This helps them to eliminate confusion and positive attitudetowards the assigned work.Freedom: Leaders should provide complete work related freedom so as to complete theassigned work effectively. This will help the organization to enhance the workers performancewith a view to achieve business targets.Therefore, it is clear that in order to achieve strategic ambition mentioned firm requireimproving leadership and management skill of its top managers. If its leaders had good analyticskills then they would be able to evaluate each and every factor in proper manner (Jooste andFourie, 2009). 1.3 Relationship between existing, required and future skills to achieve strategic ambitionsThere is a very strong relationship between existing, required and future skills to achievestrategic ambitions. This is because existing skill set will determine that management will beable to achieve its mission or not. If management sharps its skills then there is a chance that itcan successfully achieve its objective (Pugh and et.al., 2015). Existing skills can be sharpeningonly when required skills are identified. Thus, existing, required and future skills are interrelatedto each other. If we look at existing skill set then it can be said that there is a lack of anticipationskills among top level managers of the Tesco. Operating in such a competitive market it is essential for the management level peopleunderstand the existing and requires set of skills in order to achieve strategic ambitions. One ofwhich is business analysis skill, the main purpose of this skill is that it assist in developingsuitable thinking towards the functioning of business and helped the individual to make decisionwhich are smart and effective for the Tesco growth and future sustainability (Bass and Riggio,2006). Along with this, risk management skills should be developed by the managerial levelpeople of Tesco plc so that they can easily evaluate and analyzes the risks and uncertainties that3

can affect the functioning of Tesco adversely. Through the help of this set of skill managementcan take smart and effective decision regarding future growth of the firm. Future skills that need to be developed in order to achieve strategic ambitions are related tothe decision making. In future business environment will get changed and will be very difficultto formulate starter in such a complex business situations (Archer, 2014). At that time, ability tointerpret change in business environment will determine that whether an organization will beable to achieve its strategic ambitions or not. Hence, entire success of the firm will depend on itsquality of decision making. Thus, firm requires improving its decision making skills related tostrategy formulation and decision making.TASK 22.1 Discussing the opportunities to support leadership developmentIn the present era, there are several opportunities available for the individual to enhancethe leadership development. However, it is the individual who has to identify and evaluate theareas where he needs to improve. Thus, to assess the current leadership requirements, individualhas to make the analysis own leadership skills and abilities (Olk, Rainsford and Chung, 2010).By the means of this, manager can identify different areas in which he/she might be lackingbehind on the basis of comparison made on business performance and position. Manager throughthe help of entire performance of company can analyze his/her success rate of leadershipapproaches and style. In general, different experts states that, if individual or manager feelingthat leadership approaches are not aligned in terms of corporate objectives, then there is need ofbringing modifications within leadership. Once the gaps or loopholes are identified it isimportant for the individual to make efforts for evaluating and analyzing the strategies andtactics to fill those gaps so that better results and outcomes can be achieved (Wong, 2003). There are certain ways through the help of which manager at Tesco plc can developleadership skills and abilities such as making anticipation, challenging ourselves and interpretingchange in the working business environment. In context to anticipation, managers have to reviewvarious aspects so that understanding them appropriately and making optimum utilization ofavailable resources to enhance the skills in effective and efficient manner so that they can satisfythe needs and wants of customers. Apart from this, manager of Tesco plc can use variouslearning model such as Kolb learning style. According to this model individual can learn several4

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