Management Model and Pestle Analysis of TESCO

FDN005
FOUNDATIONS OF
BUSINESS AND
TOURISM

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
Company overview.....................................................................................................................3
Appropriate management model.................................................................................................5
Steps in the process of Management by Objectives....................................................................5
Benefits of using Management by Objectives............................................................................6
Theories of management.............................................................................................................7
TASK 2............................................................................................................................................7
Pestle analysis.............................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business management is referred to the managing of coordination and organization of the
activities of business. It basically includes the manufacturing of the products, machines, money
and involves the marketing and innovation both. Management is charge of the organizing,
planning, directing and controlling the resources of business so they may meet objectives of
policy. Directors and managers have responsibility and power for looking the business and take
decisions (Tsyganov, 2019). Size of the management may be anything from single individual
from thousands of executives in the firm which are in different countries. In big business firms
the policy is defined by board of directors and then performed by CEO. The report is made in
context of TESCO which is the multinational groceries and merchandise firm retailer which is
situated in Welwyn Garden City, England. It was founded in the year 1919 by Jack Cohen. This
report will mention the use of the suitable management model for the chosen business by
bringing out underlying theories, theories proponents and unique characteristics of the
management model. Further the analysis of the macro environment of the operations will also be
done.
MAIN BODY
TASK 1
Company overview
TESCO PLC is the British international general merchandise and groceries retailer whose
headquartered in Welwyn Garden City, England. In the year 2011 it was 3rd largest retailer in
world, which was measured by the gross revenues and 9th largest in the globe in terms of
revenues. Its retail stores are located in the Ireland, United Kingdom, Czech Republic, Slovakia
and Hungary. It is market leader in the groceries market in UK, where it has the market share of
approximately around 28.4 %(Goncharenko, 2020). It was founded in the year 1919 by Jack
Cohen as the stall groups in Hackney, London. Firms name TESCO first appeared in the year
1924 after Cohen purchased the shipment of Tea. Firm has expanded the business operations in
the early 1990s by operating in more than 11 other nations in the world. After the year 1960 the
firm has diversified in many areas like bools retailing, electronics, clothing toys, furniture,
software, petrol, financial services, internet services and telecoms. In 1990 TESCO rebranded
them as the downmarket high volume low cost retailer, for attempting to allure the range of