Evaluation of Tesco's Operations Management Decisions
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This report evaluates Tesco's operations management decisions in relation to the company's main functions of business operations such as finance, strategy, product design, quality control, supply chain management, and logistics. It also provides a brief overview of Tesco and its operations in the grocery sector of the market.
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Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK...............................................................................................................................................3
Main functions of business operations...................................................................................3
A brief overview of the Tesco plc.........................................................................................5
An evaluation of the company’s operations management decisions:.....................................5
CONCLUSION ...............................................................................................................................7
REFERENCES:...............................................................................................................................8
Books and Journals:................................................................................................................8
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK...............................................................................................................................................3
Main functions of business operations...................................................................................3
A brief overview of the Tesco plc.........................................................................................5
An evaluation of the company’s operations management decisions:.....................................5
CONCLUSION ...............................................................................................................................7
REFERENCES:...............................................................................................................................8
Books and Journals:................................................................................................................8
INTRODUCTION
Business operation refers to those activities which the employees of the organisation
conduct in workplace for the development and achievement of organisational goals and
objectives of the market. Profit maximization is one of the most important and foremost aim of
the organisation which enables the employees to conduct their business in effective manner. All
the efforts and handwork done by the employees of the organisation are developed in such a way
to achieve competitive advantage over the others. There are different types of businesses are
present in the market which perform distinct functions in the market according to the needs and
nature of their business. It is important for the management of the organisation to develop
number of strategies in the organisation which directs the employees to achieve the goals and
objectives of the organisation. The organisation which is required to be choose in this report is
Tesco plc which is one of the biggest multinational organisation of United kingdom. The
management of the concerned organisation perform their business in retail industry of the
market. This report is going to cover the main functions of the business operations like finance,
strategy, forecasting and many more. Along with this, this report also cover the brief overview of
the Tesco plc, this reports covers the evaluation of operations management decisions in relation
to the respective company.
MAIN BODY
TASK
Main functions of business operations
There are number of activities are present which the employees of the organisation has
done to create the value for the organisation which is term to be business functions. All the
functions of the organisation are divided into different types of department so that all the work
cab be managed in the organisation in effective manner (Kakkar and Farshori, 2020). It is one of
the important duty of the employees of the organisation that they perform all their function in
effective manner so that it is possible to achieve goals and objectives of the organisation in
effective manner. There are different functions are mentioned below the report which justify the
role of employees in the organisation.
Business operation refers to those activities which the employees of the organisation
conduct in workplace for the development and achievement of organisational goals and
objectives of the market. Profit maximization is one of the most important and foremost aim of
the organisation which enables the employees to conduct their business in effective manner. All
the efforts and handwork done by the employees of the organisation are developed in such a way
to achieve competitive advantage over the others. There are different types of businesses are
present in the market which perform distinct functions in the market according to the needs and
nature of their business. It is important for the management of the organisation to develop
number of strategies in the organisation which directs the employees to achieve the goals and
objectives of the organisation. The organisation which is required to be choose in this report is
Tesco plc which is one of the biggest multinational organisation of United kingdom. The
management of the concerned organisation perform their business in retail industry of the
market. This report is going to cover the main functions of the business operations like finance,
strategy, forecasting and many more. Along with this, this report also cover the brief overview of
the Tesco plc, this reports covers the evaluation of operations management decisions in relation
to the respective company.
MAIN BODY
TASK
Main functions of business operations
There are number of activities are present which the employees of the organisation has
done to create the value for the organisation which is term to be business functions. All the
functions of the organisation are divided into different types of department so that all the work
cab be managed in the organisation in effective manner (Kakkar and Farshori, 2020). It is one of
the important duty of the employees of the organisation that they perform all their function in
effective manner so that it is possible to achieve goals and objectives of the organisation in
effective manner. There are different functions are mentioned below the report which justify the
role of employees in the organisation.
Finance:- It is one of the most important and valuable department of the organisation
which has perform the duty of organising and managing the sources of funds in the
organisation. The management of Tesco operates their business in different nations of the
world which enables them to earn huge revenue (Luo, Lin and Zheng, 2019). The
management and allocation of these revenue are done by the finance department of the
organisation. It also analyse the number of new sources of investment which helps to
increase the level of the organisation.
Strategy:- It is related to those function of the business organisation under which the
managers plans, organise and monitors different types of aspect in the organisation. It is
the primary function of the management to monitor the current strategies and minimise
the deviation from the strategies of the organisation. There are number of benefits are
present in relation to strategic management and the important benefit is that it helps the
organisation to improve their decision making.
Product design:- The designing of the product is one of the core function of the
organisation which require huge focus from the management because product is the only
factor which can make the organisation successful. There are different types of advance
and new technology are developed in the market which can help the organisation to
develop attractive and innovative product in the market. The management of Tesco has
invest huge amount of the funds in their research and development department which
provides number of technology to the organisation so that it can be possible to develop
and design effective product.
Quality control:- In the present condition of the market the preference of the customers
are shifted towards the quality of the product. The quality of the product should be the
primary function of the organisation so it is required to strengthen the quality department
of their organisation. The management of Tesco operates their business in grocery
products under which the quality and freshness has played important role in the same.
Supply chain management:- It is related to those chain of supply which is used by the
company to supply their product from the point of origin to the point of destination. The
supply chain management of the company are developed in such a way that the right
product can be reached to right customers at right time. The management of the Tesco
which has perform the duty of organising and managing the sources of funds in the
organisation. The management of Tesco operates their business in different nations of the
world which enables them to earn huge revenue (Luo, Lin and Zheng, 2019). The
management and allocation of these revenue are done by the finance department of the
organisation. It also analyse the number of new sources of investment which helps to
increase the level of the organisation.
Strategy:- It is related to those function of the business organisation under which the
managers plans, organise and monitors different types of aspect in the organisation. It is
the primary function of the management to monitor the current strategies and minimise
the deviation from the strategies of the organisation. There are number of benefits are
present in relation to strategic management and the important benefit is that it helps the
organisation to improve their decision making.
Product design:- The designing of the product is one of the core function of the
organisation which require huge focus from the management because product is the only
factor which can make the organisation successful. There are different types of advance
and new technology are developed in the market which can help the organisation to
develop attractive and innovative product in the market. The management of Tesco has
invest huge amount of the funds in their research and development department which
provides number of technology to the organisation so that it can be possible to develop
and design effective product.
Quality control:- In the present condition of the market the preference of the customers
are shifted towards the quality of the product. The quality of the product should be the
primary function of the organisation so it is required to strengthen the quality department
of their organisation. The management of Tesco operates their business in grocery
products under which the quality and freshness has played important role in the same.
Supply chain management:- It is related to those chain of supply which is used by the
company to supply their product from the point of origin to the point of destination. The
supply chain management of the company are developed in such a way that the right
product can be reached to right customers at right time. The management of the Tesco
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has operates their business in many countries of the world so that the effectiveness of the
supply chain are developed in the organisation.
Logistics:- It is related to the flow of information, packaging, inventory and other thing
from the point of origin to the point of destination. The basic difference between the
logistic and the supply chain management is that the logistic is only related to the
activities of the distribution of company goods and on the other hand supply chain also
involve in the manufacturing process.
A brief overview of the Tesco plc
Tesco plc is a British multinational organisation which operates their business in the
market of United kingdom. The management of the company is the third largest retailer of the
market which conduct their business in grocery sector of the market (Mahmood, 2018). The
management of company operates their business in different nations of the world but all the
significant decisions of the business are taken from the headquarter which is present in Welwyn
city garden, England. The organisation of Tesco are developed by Jack Cohen and now the
company established their business in many countries of the world.
Tesco provides a wide array of non-food products and food , including fresh food
entertainment product shone bakery grocery and drinks baby products, clothing, household
beauty products frozen food and appliances and consumer electronics and electrical goods. The
product line of the company satisfy the needs of the customers which helps the company to earn
huge revenue from the market. It is analyses from the market that the management of company
currently operates more than 90,000 products in their organisation.
An evaluation of the company’s operations management decisions:
Continuous improvement management:- It is one of the valuable operational approach
which the management of Tesco used in their working for the continuous improvement in
their business functions. There are number of operations are present in the management
which does not reflect positive growth and becomes threats for the overall development
of the business in the market.
supply chain are developed in the organisation.
Logistics:- It is related to the flow of information, packaging, inventory and other thing
from the point of origin to the point of destination. The basic difference between the
logistic and the supply chain management is that the logistic is only related to the
activities of the distribution of company goods and on the other hand supply chain also
involve in the manufacturing process.
A brief overview of the Tesco plc
Tesco plc is a British multinational organisation which operates their business in the
market of United kingdom. The management of the company is the third largest retailer of the
market which conduct their business in grocery sector of the market (Mahmood, 2018). The
management of company operates their business in different nations of the world but all the
significant decisions of the business are taken from the headquarter which is present in Welwyn
city garden, England. The organisation of Tesco are developed by Jack Cohen and now the
company established their business in many countries of the world.
Tesco provides a wide array of non-food products and food , including fresh food
entertainment product shone bakery grocery and drinks baby products, clothing, household
beauty products frozen food and appliances and consumer electronics and electrical goods. The
product line of the company satisfy the needs of the customers which helps the company to earn
huge revenue from the market. It is analyses from the market that the management of company
currently operates more than 90,000 products in their organisation.
An evaluation of the company’s operations management decisions:
Continuous improvement management:- It is one of the valuable operational approach
which the management of Tesco used in their working for the continuous improvement in
their business functions. There are number of operations are present in the management
which does not reflect positive growth and becomes threats for the overall development
of the business in the market.
Education and training management :- It is not possible for any employee in the
organisation that they have knowledge and skills about the business. It becomes the
function of the organisation to provide proper training and education to their employees
so that it can be possible for them to operate their business in effective manner. The
management of Tesco has developed effective training department in the organisation
which helps to manage the training of employees in the organisation (Mönkkönen, 2021).
Employee management :- The employee of the organisation is one of the most valuable
resource of the organisation which needs to be managed properly so that maximum
returns can be achieved. It is the duty of human resource management of the organisation
that they provide different resources to their employees so that they can be work
effectively in the organisation. It is important for the management of the organisation to
operate their business in effective manner.
Leadership management :- Lack of suitable control structures can prevent the
operations for fine development. Hence, development control calls for thinking about the
control structures with an organization . For instance, personnel want to be concerned
with inside the decision-making and control on the way to paintings closer to fine
improvements. For instance, a few operations may be having issues due to presence of a
bureaucratic control, wherein choices are made via way of means of the control and
prescribed downward to the personnel. Hence, handling the management should cause
development of the operations.
Strategic Planning Management :-Managing deliberate enhancements in an agency
calls for a strategic vision . In this light, the control wishes to assess the outcomes of the
deliberate enhancements at the agency. This is due to the fact a few enhancements
techniques can backfire and purpose undesired consequences that could result in a
discontinued destiny of an agency . Therefore, in control of improvement, there's a want
to behaviour a situation evaluation to assist in proactively predicting the predicted
consequences. Hence, strategic making plans is one manner of enhancing the operations.
Process Management :-Customer Focus Management:- The pleasure of clients on an
ongoing foundation is what determines the long-time period achievement of an
organisation that they have knowledge and skills about the business. It becomes the
function of the organisation to provide proper training and education to their employees
so that it can be possible for them to operate their business in effective manner. The
management of Tesco has developed effective training department in the organisation
which helps to manage the training of employees in the organisation (Mönkkönen, 2021).
Employee management :- The employee of the organisation is one of the most valuable
resource of the organisation which needs to be managed properly so that maximum
returns can be achieved. It is the duty of human resource management of the organisation
that they provide different resources to their employees so that they can be work
effectively in the organisation. It is important for the management of the organisation to
operate their business in effective manner.
Leadership management :- Lack of suitable control structures can prevent the
operations for fine development. Hence, development control calls for thinking about the
control structures with an organization . For instance, personnel want to be concerned
with inside the decision-making and control on the way to paintings closer to fine
improvements. For instance, a few operations may be having issues due to presence of a
bureaucratic control, wherein choices are made via way of means of the control and
prescribed downward to the personnel. Hence, handling the management should cause
development of the operations.
Strategic Planning Management :-Managing deliberate enhancements in an agency
calls for a strategic vision . In this light, the control wishes to assess the outcomes of the
deliberate enhancements at the agency. This is due to the fact a few enhancements
techniques can backfire and purpose undesired consequences that could result in a
discontinued destiny of an agency . Therefore, in control of improvement, there's a want
to behaviour a situation evaluation to assist in proactively predicting the predicted
consequences. Hence, strategic making plans is one manner of enhancing the operations.
Process Management :-Customer Focus Management:- The pleasure of clients on an
ongoing foundation is what determines the long-time period achievement of an
organization. For this reason, enhancements which might be controlled with client
awareness in thoughts bring about expanded pleasure, and consequently repeated
purchases and patronage . Therefore, other than assembly and exceeding the particular
expectancies of the clients, this development control method is willing toward the
conclusion of excessive income and sales for the organization. This is due to the fact
expanded clients’ pleasure interprets to expanded income and sales.
Process management :- In this development control approach, it's far cautioned that an
corporation ought to cognizance on coping with the methods that result in achievement
and discount of screw ups in preference to focusing at the control of the outcomes. this
development control approach strives on selling expertise innovation and growing to
enhance and optimize methods. This effects in introduced value, quality, and harnesses
abilities of the employees, which then results in decreased cycle-time, down-time, and
accelerated efficiency (Papac and Kulović, 2021).
CONCLUSION
From the above file it's far concluded that for the achievement of the corporation with
inside the aggressive marketplace specific enterprise operation has been completed with the aid
of using the personnel of the corporation in a nicely powerful manner. Business operations is
vary from enterprise to enterprise however all of those paintings with inside the manner of
reaching the set goals of the enterprise. This file concluded the quick description of various in
addition to fundamental capabilities of the enterprise operations like finance, pleasant control,
product design, logistic, deliver chain and plenty of more. Afterword, this file additionally
concluded a quick review of Tesco along side operational control selections of the corporation.
awareness in thoughts bring about expanded pleasure, and consequently repeated
purchases and patronage . Therefore, other than assembly and exceeding the particular
expectancies of the clients, this development control method is willing toward the
conclusion of excessive income and sales for the organization. This is due to the fact
expanded clients’ pleasure interprets to expanded income and sales.
Process management :- In this development control approach, it's far cautioned that an
corporation ought to cognizance on coping with the methods that result in achievement
and discount of screw ups in preference to focusing at the control of the outcomes. this
development control approach strives on selling expertise innovation and growing to
enhance and optimize methods. This effects in introduced value, quality, and harnesses
abilities of the employees, which then results in decreased cycle-time, down-time, and
accelerated efficiency (Papac and Kulović, 2021).
CONCLUSION
From the above file it's far concluded that for the achievement of the corporation with
inside the aggressive marketplace specific enterprise operation has been completed with the aid
of using the personnel of the corporation in a nicely powerful manner. Business operations is
vary from enterprise to enterprise however all of those paintings with inside the manner of
reaching the set goals of the enterprise. This file concluded the quick description of various in
addition to fundamental capabilities of the enterprise operations like finance, pleasant control,
product design, logistic, deliver chain and plenty of more. Afterword, this file additionally
concluded a quick review of Tesco along side operational control selections of the corporation.
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REFERENCES:
Books and Journals:
Kakkar, A. and Farshori, A., 2020. Server-Less Cloud Computing—An Economical Solution for
Business Operations. In Innovations in Computer Science and Engineering (pp. 145-
154). Springer, Singapore.
Luo, S., Lin, X. and Zheng, Z., 2019. A novel CNN-DDPG based AI-trader: Performance and
roles in business operations. Transportation Research Part E: Logistics and
Transportation Review, 131, pp.68-79.
Mahmood, Z., 2018, April. Data Mining and Knowledge Management Application to Enhance
Business Operations: An Exploratory Study. In Future of Information and
Communication Conference (pp. 570-583). Springer, Cham.
Mönkkönen, T., 2021. Developing and expanding the business operations of Exsane Oy in line
with current changes in the energy and electricity sector.
Papac, N. and Kulović, D., 2021. THE RELATIONSHIP BETWEEN THE QUALITY OF
CORPORATE GOVERNANCE AND PROFITABILITY OF BUSINESS
OPERATIONS. Zbornik radova Ekonomskog fakulteta Sveučilišta u Mostaru, (Posebno
izdanje), pp.133-155
Pönkä, V., 2019. The Cooperative as a Platform for Sustainable Business Operations. Cambridge
Handbook of Corporate Law, Corporate Governance and Sustainability (Cambridge
University Press, 2019).
Popescu, C.C., 2018, May. Improvements in business operations and customer experience
through data science and Artificial Intelligence. In Proceedings of the International
Conference on Business Excellence (Vol. 12, No. 1, pp. 804-815).
Shi, Q., Qiu, W. and Fan, Y., 2020. Economic policy uncertainty and the distribution of business
operations between parent companies and their subsidiaries. Emerging Markets Finance
and Trade, 56(2), pp.427-456.
Sudhamathi, R.K., 2022. Fintech as a road map to enhance business operations and delivery of
financial services. Asian Journal of Research in Business Economics and
Management, 12(3), pp.1-9..Kakkar, A. and Farshori, A., 2020Luo, S., Lin, X. and
Books and Journals:
Kakkar, A. and Farshori, A., 2020. Server-Less Cloud Computing—An Economical Solution for
Business Operations. In Innovations in Computer Science and Engineering (pp. 145-
154). Springer, Singapore.
Luo, S., Lin, X. and Zheng, Z., 2019. A novel CNN-DDPG based AI-trader: Performance and
roles in business operations. Transportation Research Part E: Logistics and
Transportation Review, 131, pp.68-79.
Mahmood, Z., 2018, April. Data Mining and Knowledge Management Application to Enhance
Business Operations: An Exploratory Study. In Future of Information and
Communication Conference (pp. 570-583). Springer, Cham.
Mönkkönen, T., 2021. Developing and expanding the business operations of Exsane Oy in line
with current changes in the energy and electricity sector.
Papac, N. and Kulović, D., 2021. THE RELATIONSHIP BETWEEN THE QUALITY OF
CORPORATE GOVERNANCE AND PROFITABILITY OF BUSINESS
OPERATIONS. Zbornik radova Ekonomskog fakulteta Sveučilišta u Mostaru, (Posebno
izdanje), pp.133-155
Pönkä, V., 2019. The Cooperative as a Platform for Sustainable Business Operations. Cambridge
Handbook of Corporate Law, Corporate Governance and Sustainability (Cambridge
University Press, 2019).
Popescu, C.C., 2018, May. Improvements in business operations and customer experience
through data science and Artificial Intelligence. In Proceedings of the International
Conference on Business Excellence (Vol. 12, No. 1, pp. 804-815).
Shi, Q., Qiu, W. and Fan, Y., 2020. Economic policy uncertainty and the distribution of business
operations between parent companies and their subsidiaries. Emerging Markets Finance
and Trade, 56(2), pp.427-456.
Sudhamathi, R.K., 2022. Fintech as a road map to enhance business operations and delivery of
financial services. Asian Journal of Research in Business Economics and
Management, 12(3), pp.1-9..Kakkar, A. and Farshori, A., 2020Luo, S., Lin, X. and
Zheng, Z., 2019Mahmood, Z., 2018Mönkkönen, T., 2021Papac, N. and Kulović, D.,
2021Pönkä, V., 2019Popescu, C.C., 2018Shi, Q., Qiu, W. and Fan, Y.,
2020Sudhamathi, R.K., 2022
Vyakina, I.V., 2019. Security of business operations and supervisory functions of the state as
characteristics of the business environment. J. Advanced Res. L. & Econ., 10, p.1696.
Wang, H.S., 2021, September. Industry 4.0 and Lean Business Operations. In 2021 IEEE
International Conference on Services Computing (SCC) (pp. 362-363). IEEE.
Zhou, P. and Wen, W., 2020. Carbon-constrained firm decisions: From business strategies to
operations modeling. European Journal of Operational Research, 281(1), pp.1-15.
2021Pönkä, V., 2019Popescu, C.C., 2018Shi, Q., Qiu, W. and Fan, Y.,
2020Sudhamathi, R.K., 2022
Vyakina, I.V., 2019. Security of business operations and supervisory functions of the state as
characteristics of the business environment. J. Advanced Res. L. & Econ., 10, p.1696.
Wang, H.S., 2021, September. Industry 4.0 and Lean Business Operations. In 2021 IEEE
International Conference on Services Computing (SCC) (pp. 362-363). IEEE.
Zhou, P. and Wen, W., 2020. Carbon-constrained firm decisions: From business strategies to
operations modeling. European Journal of Operational Research, 281(1), pp.1-15.
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