Business Management Report: TESCO Trade Show, Project and Reflection

This report presents an analysis of a trade show project undertaken by TESCO, a leading UK-based retail company. The report is divided into two parts: the first part provides an introduction and summary of the project, highlighting the rationale behind introducing new flavored energy drinks to create awareness and increase sales. It also delves into the business functions involved, such as scope, time, cost, resources, and risk management, alongside the application of relevant management tools like Gantt charts, critical path analysis, and work breakdown structures. The report includes a budget analysis and a potential return on investment (ROI) assessment. The second part reflects on the learning experience, using Gibbs' reflective cycle to describe the student's feelings, evaluations, and analyses of the project, emphasizing the acquisition of new knowledge and skills in project management and business analysis. The report also discusses the use of benchmarking, Total Quality Management, and Customer Relationship Management tools.

Business Management

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Introduction and summary......................................................................................................1
Presenting the business function and relevant management tools..........................................2
Examples of tool applied by TESCO.....................................................................................5
PART 2............................................................................................................................................6
Reflection...............................................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business management is a way of organizing, analysing and planning various types of
business operations so that it helps for the smooth functioning of a business. The chosen
company for this report is TESCO which is one of the leading retailing company in UK and it
provides the best products to their customers. The report is divided into two part such that in part
1. The report summarizes the case study and also demonstrate the business functions and some
relevant management tool that includes Gantt chart, potential return on investment and work
breakdown structure. And in 2nd part, the report will reflect the learning experience from the
assessment.
PART 1
Introduction and summary
Trade shows projects are those plan that helps to oversees many aspects of the project
that leads to client satisfaction. TESCO is the biggest private sector in UK and currently the
company has more than 300000 employers at worldwide. As the firm is also operates in more
than 12 countries and it is a multinational groceries and some general merchandise retailer. As
the firm have brand image in market and that is why it keeps expanding its current business at
different countries. Through market research, the research and development department of the
company determine that the company have to provide some flavored energy drinks to their
customers in the exhibition in order to creates awareness among the people related to fitness.
Rationale for exhibiting: As TESCO wants to introduce new flavored energy drinks in
its exhibition, this is so because it wants to create awareness among people, so that they become
more concern about their health and that is why around 90 percent of the peoples prefer healthy
food and drink. As per the market research, it has been analyzed by the company's research and
development department that most of the people demand that TESCO introduce some healthy
and energy drink because the cited firm offered good quality of food and other items with
reasonable rates as compared to other company (Chapman and Ward, 2016). It has been further
analyzed that a good customers base is considered as TESCO strength and that is why the firm is
also keep providing innovative products to their customers with reasonable rates. That is why the
company also introduce new energy drink.
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Presenting the business function and relevant management tools
There are many elements of project management and some of them are as mentioned
below:
Scope: the scope of this project is to raise the knowledge and through the event of
introducing new energy drink into market, TESCO also raise its sales and also aware people
related to their health and fitness (Ceschi and et.al., 2015).
Time: the time or schedule of the project is in work breakdown structure that shows all
the activity which is performed in order to met out the requirement and make the project
successful. The defined time for completion of this project is 10 days.
Cost: every activity is directly linked with the cost such that it may be resource spent,
operational cost and the budget which is defined for completion of this exhibition. The defined
cost of this project Is £450000.
Resources: to complete this project, the resources which are required are human
resources, technical resources, financial resources so that the aim and objectives of the project is
completed.
Quality: As TESCO provides the best quality of products to their customers and in the
same way for this project, the company also organize the trade show or exhibition in order to
introduce new energy drink for their customers with good quality of raw material used.
Risk: the possibility of risk is related to this project is use of analytic technique and
sometimes the marketing of the event is not done in appropriate way so that it leads to failure of
the project (Boehm, 2019).
Potential return on investment:
the return on investment helps to measure the gain and loss generated for a relative
amount of money invested and for this project the company get profit and increases the sales up
to 20% and the net ROI is higher as compared to last year as presented in budget.
Benefits for the company:
From the above project or trade show, there are lot of benefits for the company such that:
 By introducing the new energy drink into market, TESCO will creates awareness and also
maximizes the sales of the company that directly impact upon the company's financial
performance (Boehm, 2018).
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 Further, through this exhibition, TESCO also gain high customer base and can sustain its
brand image in market as well.
 Apart from this, through this project, the company also get benefited because it creates
lasting impression if it done in correct way.
 Through this show, the company also target audience directly that helps to create positive
impression upon the customers.
Project plan:
Task Name Duration Start Finish Predecessors
Identify project
goals 2 days Tue 3/19/19 Wed 3/20/19
Budget and
forecasting 5 days Tue 3/19/19 Mon 3/25/19
Show Market plan 4 days Tue 3/26/19 Fri 3/29/19 1,2
Risk planning 4 days Mon 4/1/19 Thu 4/4/19 3
Venue requirements 3 days Fri 4/5/19 Tue 4/9/19 3,4
Product Brochures 5 days Wed 4/10/19 Tue 4/16/19 5
Design and layouts 6 days Wed 4/17/19 Wed 4/24/19 6
Promotional
strategies 4 days Thu 4/25/19 Tue 4/30/19 6,7
Seminar Schedule 6 days Wed 5/1/19 Wed 5/8/19 8
Staff selection/
training 8 days Thu 5/9/19 Mon 5/20/19 9
Sales database
updates 5 days Tue 5/21/19 Mon 5/27/19 9,10
Project closing 1 day Tue 5/28/19 Tue 5/28/19 11
Gantt chart
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Critical path analysis
Budget:
Particulars Year 1 Year 2
Income generated £4,50,000.00 £4,80,000.00
Net income £4,50,000.00 £4,80,000.00
Expenses
Advertising £4,500.00 £4,400.00
Salary £5,500.00 £5400
Rent £450 £500
Miscellaneous expenses £600 £500
Total Expenses £11050 £10800
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Net Profit/ loss £4,38,950.00 £469200
From the above, it has been analyses that there is slightly increment in the budget as
compared to last years such that the company net profit is £469200 and last year profit is
Work breakdown structure (WBS):
Work based Structure is the key project that deliver or organize the team work into
manages section so that the project can be completed. For this report the WBS is as mentioned
below:
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Examples of tool applied by TESCO
Business management tools are related to each organization department that helps to
improve the current status of the company and in the same way, TESCO is also used variety of
management tool and some of them are as follows:
 Bench marking: this tool is basically helps to improve the performance in order to
identify and applying the best practice to the operation and sales and as the company
wants to introduce new energy drink into the working area then it is essential for the firm
to use this management tool into the working area. Apart from this, the management tool
main objective is to improve the performance and raise the sales growth. Further, as the
tool is applied by the company then it reveals a firm to relative cost position and also
identify the opportunities for its improvement (Kerzner and Kerzner, 2018). Further, it
also helps an organization to focus on capabilities as well.
 Total Quality Management: It is another management tool that is used by the company
for introducing the new product into a market. Total quality management helps
continuously to improve the ability of a firm in order to provide on demand products and
services which a customer will find to a particular area. Apart from this, this management
tool is also concern with the department of sales, marketing and designing process and as
the business case of TESCO is to introduce new energy drink to their customers then it
will be helpful for a cited firm to use this management in order to provide the best quality
of product to their users.
 Customer relationship Management: It is another tool which is also used by TESCO in
order to develop better relationship between the customers and a firm. Therefore, this is a
process, where a company uses in order to understand the customer group and respond
them quickly, even at the time of respond them quickly (Meredith and Mantel 2017).
Customer relationship Management technology also helps TESCO to collect and manage
large amount of information and then carry out the strategy as per collected data. In this
way, quoted firm also determine the needs of their customers and then implement it as
well (Kerzner, 2014). Further, it also provides the companies with important new insights
into the customers needs and behavior
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PART 2
Reflection
In order to present the learning experience, I used Gibbs model of reflection so that I
clearly describe my experience in correct way. This is as mention below:
Description: For this project my overall experience is good such that the whole project is
based upon the trade show in which TESCO introduce new energy drink in their exhibition.
During the whole journey, I learn a lot of things and a lot of people are also present during this
exhibition and the outcome of the trade show are also positive. Thus, the entire project is based
upon the plan from initial planning to submission and I also learn lot of things and raise my
current knowledge as well (Quinn, 2018).
Feeling: during this project, I feel so excited because it was my first project and I also got
support from my peers as well. Such that I have lot of people who help me while I conducting
this. As initial stage I was so curious and eager to research on this topic and during the project I
also learn new things and raise my knowledge as well so that it will help me in my future. Apart
from this, I also feel hesitates during the project because I did not know the terms which are
related to this project but my peers help me and at that time I feel satisfied. Moreover, when the
project is bout to complete I also feel comfortable and satisfied because I got new concept such
as Gantt chart, work based structure and budget etc. Thus it will help me to enhance my current
knowledge and research skill as well.
Evaluation: from the above project, I also evaluated many good and bad things and even
I also contributed my best for the successful of the project. During the entire journey of
conducting the project, I evaluates the positive things such that I raise my current knowledge and
research skills as compared to my past (Davies, 2015). Even I also learn new concept that further
help me in my future project as well. Apart from this, I also evaluated bad things as well in
which I realised that because of lack of research skills, I will not collect the deeper research for
this topic and apart from this, I also evaluated that a small fluctuation in the budget will also
cause failure of the project.
Analysis: in my entire journey, I analyses that because of available resources on internet,
I am able to collect the exact information and through this, I am able to make my project
successful as well. Beside this I further analyzed that because of lack of knowledge related to
this particular topic I am not able to research in more deeper way that is why the effectiveness of
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the project is somehow not up to the mark but it will be possible only when more research is
done. Apart from this, I also raise my research skills and gain knowledge related to this topic
such that it will also help me to understand the project in better way as well. Therefore, I
analyzed that with the help of this project I raise my financial knowledge as well and learn
different trade show and how to execute them as well.
Conclusion: from the above project I concluded that I learn new concept related to the
topic and enhance my current knowledge as compared to past experience (Husebø, O'Regan and
Nestel, 2015). Further, I also hesitate while conducting this report but when I involved in this
and with the help of internet I feel confident that I can complete the project by learning new
concept so that it will help me to make my project successful as well. Apart from this, I also
concluded that the overall journey during this project is good and it will also help me to enhance
my presentation and research skills as well.
Action Plan: During this project I realized that I am lacking some research skills which
needs to be overcome so that it will help me to conduct future project in better way. Apart from
this, to enhance it I start making small project so that it raise research skills and I also start
reading project management plan so that it will also help me how to conduct the research report
in my future projects. In addition to this, to make my future projects more effective I also
enhance my financial knowledge and research skills as well.
CONCLUSION
By summing up above report, TESCO will be make its trade show successful when it
have proper business management planning and for this reason it has to be make sure that all the
elements of the plan are meet. The report further concluded the rationale for exhibiting the trade
show and project plan milestone as well. By using Gantt chart and work breakdown structure, the
report also conclude that how long the project will be completed and in the next part of the
project, report reflect the overall learning experience by using Gibbs Cycle of reflection.
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REFERENCES
Books and Journals
Boehm, B. W., 2018. Software risk management: principles and practices. IEEE software.8(1).
pp.32-41.
Boehm, B., 2019, September. Software risk management. In European Software Engineering
Conference (pp. 1-19). Springer, Berlin, Heidelberg.
Ceschi, M. and et.al., 2015. Project management in plan-based and agile companies. IEEE
software.22(3). pp.21-27.
Chapman, C. and Ward, S., 2016. Project risk management: processes, techniques and insights.
John Wiley.
Davies, S., 2015. Embracing reflective practice. Education for Primary Care. 23(1). pp.9-12.
Husebø, S. E., O'Regan, S. and Nestel, D., 2015. Reflective practice and its role in
simulation. 11(8). pp.368-375.
Kerzner, H. and Kerzner, H. R., 2018. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Kerzner, H., 2014. Strategic planning for project management using a project management
maturity model. John Wiley & Sons.
Meredith, J. R. and Mantel Jr, S. J., 2017. Project management: a managerial approach. John
Wiley & Sons.
Quinn, F. M., 2018. Reflection and reflective practice. Continuing professional development in
nursing: A guide for practitioners and educators, pp.121-145.
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