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Managing a Successful Business Project of Tesco Plc

Added on - 08 Dec 2020

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Managing a Successful BusinessProject
Table of ContentsINTRODUCTION..........................................................................................................................1TASK 1............................................................................................................................................1P1: Project aim and objectives....................................................................................................1P2: Project management plan with cost aspects, scope, time, quality and communication risk.2P3: Work breakdown structure and Gantt chart..........................................................................4TASK 2............................................................................................................................................6P4: Small-scale research by implementation qualitative and quantitative research....................6TASK 3............................................................................................................................................9P5: Evaluating research and data using appropriate tools and techniques..................................9P6: Appropriate recommendation as a result of data and research analysis.............................12TASK 4..........................................................................................................................................12P7: Reflection upon undertaking to attain objectives...............................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14APPENDIX....................................................................................................................................15
INTRODUCTIONGlobalization can be defined as the process which involves international strategies of anorganization to expand its business operations at global level. It is possible through talkingproducts to other nations either through merger with other established organization or throughacquisition.For this, management is held liable to develop new and innovative ideas to developtheir existing products or launch new products which can easily attract maximum number ofcustomers across worldwide. The present assignment is based on Tesco Plc which is operating atglobal level engaging in providing multiple number of products such as clothing, electronicstoys, dairy products etc. The company has decided to launch its new dairy product i.e. organicice cream in seven different flavours which includes mixed berry, chocolate, vanilla, lavenderand salty caramel. It already achieved huge success in UK market thus the company trying tolaunch such product in France as well to achieve customer base across worldwide. All otheraspects related with identifying the effectiveness of decision of launching new dairy product byTesco are discussed under this report.TASK 1A) Project aim and objectivesTesco Plc is UK-based company operated at multiple number of nations throughproviding wide range of products such as clothing, electronics, dairy products and many more. Italways try to expand its business operations through reaching their products into differentnations which directly increases their market presence. In the present report, Tesco Plc hasdecided to launch its new dairy product i.e. organic ice creams in different seven flavours toFrance due to achieving huge success in UK market(Adzic, 2011).Topic: “Impact of new product development to support organisation in expanding business atglobal level”As per the current scenario, innovation is an essential need of every organisation whowantsto sustain at global market for longer period of time. It can be done either throughdeveloping existing technologies, existing products and other strategies which assist organisationto expand its business to different nations in more successful manner.Aim: ““Impact of new product development to support organisation in expanding business atglobal level””-A case study on Tesco Plc.1
The essential part of preparation of such report is to identify the effectiveness of decisionrelated with expansion of business into different nations through launching a new product.Research Objectives:Aim: ““Impact of new product development to support organisation in expanding business atglobal level””-A case study on Tesco Plc.To identify the concept of new product development.To analysis the importance of new product development in expansion of businessoperation at global level.To evaluate the requirement of new product development stages in contextof business expansion of Tesco Plc.Research Questions:Q1: Does the business organisation aware about the concept of new product development?Q2: What are the importance of new product development in expansion of business at globallevel?Q3): What are the requirement of new product development stages in context of businessexpansion of Tesco Plc.B) Project management plan with cost aspects, scope, time, quality and communication riskManagement play an important role in executing project activities as they are moreskilled and capable to make an effective decisions and suitable plans to make project moresuccessful. The management of Tesco is decided to launch a new and developed dairy producti.e. organic ice-cream in France which requires an effective project management plan consists ofdifferent aspects such as cost, time, quality, scope, communication etc. These all aspects arerequired to properly examine by the management while formulating project management plan. Itcan be briefly described as under:Scope:Before launching a new product in France, the management need to determine thescope that whether the developed dairy product can achieve success in France market. Bringingorganic ice-cream product by Tesco can easily attract people of all age group as it can beconsumed by every individual due to their high preferences of healthy products. As it is clearlyidentified that the France has generated approx. 1,495 million dollars in the year 2018 as revenueby ice-cream products. The average per capital consumption of ice-cream products stands at2
5.6kg in 2018 (Market Revenue in France, 2018). Therefore, launching organic ice-creamproduct has wider scope in France market.Cost:It refers to the amount of value which is given up or sacrificed to gain something.To execute project activities in more effective and efficient manner, funds are considered as animportant aspect which is required to invest in execution of different project activities inlaunching a new dairy product such as hiring experts, remuneration to employees, adoptingmarketing tools and techniques etc. For example, advertising new products in France through TVadvertisement, pamphlets, hiring celebrities etc. requires huge amount of cost. For this,management should be more capable to prepare budget whose sample are given as under:Total forecasted budgetParticular2017-18(£)Implementing technology cost170000Promotional expense70000Advertisement expense55000Catalogues18000Training charges75000Total cost388000Time:Setting time frame for completion of desired project activities ensures company inachieving competitive advantage among their rivals existing in new market. It motivates andbind employees to work hard in execution of desired project activities within allotted time frame.Therefore, the management of Tesco Plc is required to prepare and follow critical path in orderto direct their employees to perform in order to launch new ice-cream product in France Marketwithin 8 weeks of time frame(Brady and Davies, 2014).Quality:It is an important aspect which should be undertaken by the management whilemaking decision regarding developing products and services. As the people in France prefermore quality instead of price due to giving more preferences to their health. Therefore, qualitymake easy for Tesco to attract maximum number of people in France through offering themquality organic ice-cream products. Quality not only relates with product but also related withwork done by employees in execution of business activities. For example, allotting roles andresponsibilities to employees having more skilled and knowledge do perform better as compared3
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