Unit 6 Business Project: Analyzing Talent Management at Tesco

This assignment is a project analyzing talent management strategies within Tesco, a British retail company. The project begins by establishing aims, objectives, and a timeframe for research. It then details the research title, aim, objectives, and research questions. A project management plan is developed, covering scope, critical success factors, a work breakdown structure, Gantt chart, budget, communication, and risk analysis. The assignment includes a detailed work breakdown structure and Gantt chart for project scheduling. Small-scale research is conducted using primary and secondary research methods, with a questionnaire used to gather data from respondents. The findings and data are presented graphically, with interpretations provided for each question. Recommendations are made based on the research and findings, and a reflection on the value gained from conducting the project is also included.

Managing a Successful
Business Project

INTRODUCTION
Talent Management refers to making the use of a wide variety of strategies and
techniques which are required in order to ensure that the attainment of a wide range of overall
organizational goals as well as objectives can be done quite effectively and efficiently so that the
the contribution towards the attainment of short-term, medium-term and long-term goals and
objectives in the future can be made in a right manner (Aghaei, Bahrololoum and Andam, 2020).
Thus it is important for the HR department of the organizations to consider the appropriate
Talent Management Strategies to be applied so that the organizational productivity level can be
raised. This project is based on Tesco. It is a British Retail Company which provides a wide
variety of products and services to its customers in the market. In this assignment, detailed focus
will be made on establishment of the project aims, objectives and timeframes, conducting of
small-scale research, information gathering and data collection, presentation of the project and
communication of appropriate recommendations. Additionally, specific analysis on reflection on
the value gained from conducting the project will be made as a part of this project.
TASK 1
P1: Project Aims and Objectives
Research Title- Talent Management Strategies to be applied within an organization- A
study on Tesco
Research Aim- To identify and assess the best Talent Management Strategies which can
be implemented within the organizational processes
Research Objectives-
 To identify the requirement of assessment of talented people within the organizations
 To assess the need of applying the use of talent management strategies within an
organization
 To identify the impact which will be put by the use of talent management strategies in the
organizations
Research Questions-
 What is Talent Management?
 What is the importance of making the use of Talent Management within the
organizations?
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 What are the best strategies which can be used for the purpose of applying Talent
Management Strategies in the organizations?
According to Prarthana Ghosh, Talent Management refers to a methodologically arranged ,
strategic process of getting the right talent onboard and helping them grow to their optimal
capabilities by keeping various types of organizational objectives in mind. Thus, it can be said
that it is a process through which the overall goals and objectives can be attained in the right
manner effectively and efficiently in the right manner. Therefore, it is crucial for the
management of Tesco that it is able to find out the way in which the application of a wide variety
of strategies and methods so that the application of Talent Management can be done. This will be
helpful in identifying the way in which the overall goals and objectives as well as the
productivity level can be raised which will lead towards raising of overall profitability level in
the future. Further, there is a particular use of Talent Management Process Model in which there
are steps of Planning, Attracting, Selecting, Developing, Retaining and Transitioning. Thus, In
this way it can be said that the Talent Management is important in the organization.
According to IceHrm, Talent Management is a business strategy through which the organizations
can make sure that they are able to retain their talented and organized employees. Thus, In this
way it can be said that through the use of this particular business strategy the organizations can
identify the best way through which the management of talented people can be done in a right
manner effectively and efficiently. Therefore, In this way it can be said that the HR department
of Tesco is required to make sure that the identification of the way in which the use of
appropriate strategies and techniques can be made so that the efficiency and effectiveness level
can be raised.
As per the views of Karim Ansari, there can be an use of different talent management strategies
within the organizations. Some of these strategies are Understanding the power of job
descriptions, Assessing candidate cultural fit, Learning to become a coach, Providing continuous
training and development opportunities, Give back to employees with rewards and recognition
and Cultivating an honest career path. Therefore, through the application of these particular
strategies the organizations like Tesco can make sure that they are able to ensure that they can
attain the desired goals and objectives in the short-term, medium-term and long-term in the right
manner.
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P2: Project Management Plan
A Project Management Plan refers to a plan in which the detailed needs and requirements
of the projects of the different types of organizations can be analysed so that the appropriate
actions can be taken accordingly so that the project goals and objectives can be attained in the
future effectively and efficiently (Cooke, 2017). It has to be framed by Tesco's management so
that it is able to make sure that project goals and objectives in the short-term, medium-term and
long-term can be attained in a proper manner. The wide range of components of this particular
plan are as follows-
Scope Statement- The Project of Tesco in which the implementation of the Talent
Management Strategies has been planned is quite wide in scope and therefore in this way it can
be said that the use of these strategies will be made in this particular project to ensure the
attainment of the goals and objectives (Dang, Nguyen and Ha, 2020).
Critical Success Factors- Tesco's Project will also be dependent upon the several
Critical Success Factors. These factors are Knowledge & Skills of the People in the organization,
Application of Talent Management Strategies in the organization, Use of appropriate methods &
techniques and The Cost of implementing Talent Management Strategies in the organization
(Harris, 2018).
Work Breakdown Structure- In Tesco, the preparation of a detailed WBS will be done
so that the overall work related to the project can be divided into several small components and
thus the tasks are assigned accordingly (Kamel, 2019). This will be quite helpful in ensuring that
the company is able to attain the goals and objectives in the future.
Schedule- The scheduling of the project in Tesco will be done through making the use of
a detailed Gantt Char in which the entire schedule related with the project will be set (Kohestany
and Yaghoubi, 2017). This will be helpful for the company to be able to ensure that it can
effectively and efficiently attain its project goals and objectives.
Budget- A Budget refers to a detailed estimation of the receipts and expenditures during
a particular period of time i.e. mostly a year (Kumar and Sankar, 2016). In the context of Tesco,
it is therefore crucial that the Budget can be set for the purpose of implementing the Talent
Management Strategies-
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Particulars Amount(In Pounds)
Admin Exp. 40000
Training Exp. 45000
Development Exp. 50000
Other Exp. 15000
Total 150000
Communication- For the purpose of Communication, the use of a wide range of
strategies and methods will be made by the managers of Tesco for ensuring that they are able to
communicate the needs and requirements of the project. This will help the company to be able to
ensure that the communication can be done in a right way.
Risk analysis- In Tesco, the overall risk analysis of the project will be made so that the
risks which are associated with this particular project can be taken into account and therefore the
risks can be mitigated by using effective risk mitigation strategies and methods.
P3: Work Breakdown Structure and Gantt Chart
Work Breakdown Structure- A Work Breakdown Structure i.e. WBS refers to a
structured breakdown of the various types of tasks and activities which are to be conducted in the
course of completion of the different types of activities (Kusi, Opoku-Danso and Afum, 2020).
In the context of Tesco, the use of a WBS is needed so that the tasks and activities can be used in
the right manner for the attainment of the goals and objectives effectively and efficiently.
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Gantt Chart- A Gantt Chart refers to making of a detailed schedule in which the
specification of a wide range of different types of activities is provided so that the project can be
completed well within the time range (Miiro, Othman and Ibrahim, 2017). In it, detailed
specification of the activities is provided and the time-period in which they will be covered is
also given which helps the management to be able to identify the way they have to be completed
within a set time-period. Tesco has to ensure that the use of Gantt Chart is made so that the
project can be divided according to the activities and scheduled accordingly so that it can be
completed well within the set time period.
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TASK 2
P4: Carrying out small-scale research
The use of Research Methods has to be made so that the small-scale research can be
carried out in a proper way (Pannell and Mendez, 2019). The methods which can be used by
Tesco are as follows-
Primary Research Methods- In these research methods, the research is done on a direct
basis by contacting the different respondents who can provide the answer to the questions. Thus
the data is collected in this manner from the respondents and the analysis and interpretation is
carried out. Examples of these methods are Survey, Questionnaire, Interview, Observations etc.
Therefore, the use of Questionnaire method will be made by Tesco here so that the different
types of questions can be asked to the respondents and the answers to the same can be provided
for Analysis and Interpretation.
Secondary Research Methods- These research methods will include making the use of
the already available information so that the data can be used effectively and efficiently. Tesco
will make the use of these research methods so that the research on the information can be made
and its use is made for deriving of the conclusions and recommendations.
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The use of the following Questionnaire will be made for the purpose of gathering of the
data in a detailed manner-
Question 1- Should the HR department of Tesco make the use of specific strategies and
methods to implement Talent Management Strategies?
Answer-
Yes- 40 respondents
No- 10 respondents
Question 2- Is the use of Talent Management Strategies necessary for ensuring the personal and
professional development of the employees?
Answer-
Yes- 36 respondents
No- 14 respondents
Question 3- Is there a scope for the organizations to ensure that they must make the use of
Talent Management Strategies for increasing the productivity of the employees?
Answer-
Yes- 28 respondents
No- 22 respondents
Question 4- Should the HR department of Tesco set aside a separate Budget for the
implementation of the Talent Management Practices in the organization?
Answer-
Yes- 36 respondents
No- 14 respondents
Question 5- Is there a requirement of providing Training and Development to the employees of
Tesco as a part of Talent Management Strategy?
Answer-
Yes- 38 respondents
No- 12 respondents
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TASK 3
P5: Presentation of the findings and data
For the presentation of the findings and data the use of graphical method will be made so
that the analysis and interpretation can be carried out properly to derive conclusions and
recommendations-
Question 1- Should the HR department of Tesco make the use of specific strategies and methods
to implement Talent Management Strategies?
Answer-
Yes- 40 respondents
No- 10 respondents
Interpretation- As per the above graph, 40 respondents state that the use of specific
strategies and methods must be made in Tesco for the purpose of Talent Management. The
remaining 10 respondents state that the use of specific strategies and methods must not be made
in Tesco for the purpose of Talent Management.
Question 2- Is the use of Talent Management Strategies necessary for ensuring the personal and
professional development of the employees?
Answer-
9
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0
5
10
15
20
25
30
35
40
45
Column A