Business Operations: Tesco's Structure, HR, and Finance

This report provides a detailed analysis of Tesco's business operations, encompassing various aspects of its structure, functions, and performance. The report begins with an introduction to business operations, followed by an examination of different enterprise types and structures, including sol...Read More

HOW BUSINESS OPERATE

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Kinds of enterprise on the basis of public and private..........................................................1
1.2 Various structures of different types of enterprise................................................................1
1.3 Influence of international, national and local environment of economic on Tesco..............2
TASK 2............................................................................................................................................3
2.1 Importance of accounting......................................................................................................3
5.1 Explain various HR functions...............................................................................................3
5.2 Key features of employment legislations..............................................................................3
TASK3.............................................................................................................................................3
3.1 Profits and loss account of Tesco..........................................................................................3
TASK 4............................................................................................................................................4
4.1 Evaluating others and own role within a group....................................................................4
4.2 Making a plan of developing a team for future events of training........................................5
TASK 5............................................................................................................................................6
6.1 Influence of consumers services at a success of enterprise...................................................6
6.2 Advantages of consumer services.........................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Operations of enterprise is an main activities of an company for meeting objectives and
goals in an proper manner in a given span of time. Their are different types of external and
internal components which gave a negative as well as positive affect on companies productivity
along with its performance. So that administration duties is to manage all factors in an
appropriate way (Weiss, 2014). According to various operations of firms activities are
accomplished such as inventory, process, output, input and many others. Tesco is an largest
company as a British multinational grocery. They provide various goods of supermarkets,
hypermarket and superstore. In this assignment, covers divisions of business and its structure. It
mainly involve account6ing importance and its activities of HR department.
TASK 1
1.1 Kinds of enterprise on the basis of public and private
In country, enterprises are classified into two types of sectors are private and public.
Private company are owned by themselves as well as its shares are not given or distributed in
entire society along with government. Both authorities of country and person who are living are
not having any rights on this type of firms. But in the sector of public organisation are offering
their market share and investing of some money by government into entire public interest.
Therefore, categorised into two types of enterprise in the context of operational scale of
international, national and state level. In each phase work operations and profitability is
modified because of having a lots of workload. Many of organisation have to enhance their area
of working for meeting higher numbers of market share. As they have to follow all rules and
regulations of United Kingdom government.
1.2 Various structures of different types of enterprise
It is very main work of administration to enhance the structure of enterprise as per their
wants and needs (Reim, Parida and Örtqvist, 2015). Some of main structure of business are given
below: Sole proprietorship: Individual person is operating a enterprise at a small level which are
consider in this section. As the person is fully responsible for profits and losses itself.
They can not get back at a conditions of organisation is in loss.
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 General partnership: In this, Maximum 50 and minimum 2 members are operating a
business for meeting companies targets and goals within a given time. As their members
share equal losses and profits among all the members of partnership. Limited partnership: In this firms, liabilities are shared as per their portion of investing
money within a business. This type of firms are having a partnership deed in which all
responsibilities are mentioned within a documentation. Corporations: Mainly, this type of companies are operating enterprise at a large level as
that their position of market and profits are higher. In various firms investing of money
by government into a organisation.
 Non profits organisation: They are operating the activities of enterprise for society
welfare. Main purpose of this king of firms are for enhancing living standard of
companies as well as food availability, house, cloth etc. In United Kingdom, each
company have to spent fund or portion of profits to CSR.
1.3 Influence of international, national and local environment of economic on Tesco
It was introduced by Jack Cohen in 1919. As it is a retailing organisation as well as it is a
public limited organisation. Tesco is having a 6,553 locations in 2017 along with that they
employed approx 476,000 workers within their firms. Impact of local, national and international
on Tesco are given below: Local: In this culture of social environment affect companies performance in a positive
as well as negative way, they consider certain factors of economical such as individual
people capacity, income, growth etc. As already having a companies which affect sales
volume (Amit and Zott, 2015). National: Entire nation of economy create a effect either negative and positive within
company. As having a higher competition provide a lots of opportunity to firms in UK
sector of retail are highly competitive in nature. Negative effects are Low growth of
income, less opportunity of employment etc.
 International: In this level, many of organisation are organising a research for knowing
various customers wants and needs. It is having a positive affect in large numbers of
consumers are attract within a market place. Negative impact is Organisation get certain
advantages from government like as investment, taxation etc.
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TASK 2
2.1 Importance of accounting
It is one of main management function. By this, organisation and others peoples such as
public, investors, vendors, suppliers, government and stakeholders etc. should know financial
position of an firms. Organisation management has made a annual report for giving a important
information to a people who are interested to know about their position. Some of accounting
important aid in analysing companies performance, control as well as manage outflow or inflow
of cash (Bernstein, 2015). It will assist firm in the complaints of statutory, forecasting, budget
help in regulating bodies such as stock exchange etc.
5.1 Explain various HR functions
Human resource management involve one of an most important part of organisation for
performing various activities like as planning, organising, staffing, recruitment and many others.
Tesco managers of HR main purpose over satisfying their firms workers as well as hiring eligible
and qualified applicants for job according to its needs of organisation. For completing this,
Human resource use as well as coordinate various sources, function of recruiting diverged
candidates. Workers are liable to provide induction and training programs for existing as well as
new employees for enhancing knowledge. Therefore, these activities and sessions aid in
eliminating risk by giving safe and healthy workplace for getting higher efficiency and
effectiveness of work.
5.2 Key features of employment legislations
United Kingdom government has enhanced legislation for saving workers right at a
working environment. By this, they have to decrease discrimination, maintain equality, give
important leaves to women at a time of maturity and many other. Every company have to apply
these laws of labour at their workplace for stimulating all employees. Hence, it will aid in
increasing performance and productivity within a long period of time. It is an duty of
management to implement rules as well as eliminate discrimination on the basis of education,
sex, age, gender etc. Tesco give 12 Week of leaves to maturity women within their company
(Mackey and Sisodia, 2014).
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TASK3
3.1 Profits and loss account of Tesco
Profit & Loss statement of Tesco are as follow:
Profits and loss account Year 2017
Total Revenue 55295000
Cost of Revenue 52932000
Gross Profit 2363000
Selling General and Administrative 1190000
Total Operating Expenses 54122000
Operating Income or Loss 1173000
Income from Continuing Operations
Total Other Income/Expenses Net -1028000
Earnings Before Interest and Taxes 1173000
Interest Expense -513000
Income Before Tax 145000
Income Tax Expense 87000
Minority Interest -24000
Net Income From Continuing Ops 58000
Non-recurring Events
Discontinued Operations -112000
Net Income
Net Income -40000
Net Income Applicable To Common Shares -40000
Interpretation: Tesco has earn total gross profit of 2363000 £ with total expenses of –
1028000, it state that company has earn double income as compare to their cost. In the existing
month they earn negative amount -40000£.
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TASK 4
4.1 Evaluating others and own role within a group
Entire activities of enterprise are categorised into small parts and as per groups. In a team
leaders are having lots of workload for managing and control staff properly. Each members of
group are having their own responsibilities, roles for meeting common objectives and goals in an
effective way (Warner, 2018). As a group leaders my duties towards motivating them for better
performance, controlling behaviour of staff, managing, increasing productivity, distrivute
responsibilities within employees and many others. Other team members are having certain roles
for accomplishing of work in an proper way. They follow managers directions, open interaction
with group members for enhancing information linked with project, experience are shared to
staff members which aid in achieving goals etc.
4.2 Making a plan of developing a team for future events of training
Tesco managers of human resource is making a developing plan for enhancing workers
professional skills and capabilities. They are conducting a events of training for increasing
employees performance and its productivity. In this, Managers of Tesco should know their
employees needs as well as wants linked to professional learning style as well as knowledge as
per their plan of developing a training programme. Their are stages of developing a team
improvement plan which are as follows: Forming: It is initial phase of development a group which build as team management
according to its capabilities, abilities and skills. Therefore, coordinating and directing
them for accomplishing work properly. Storming: HR executive are conducting a brainstorming work for all workers for
increasing their knowledge and skills which assist in meeting goals properly (Doppelt,
2017). Norming: In this phase, company management enhance policies or strategies to make a
healthy relationship within all the members of team which aid in eliminating disputes.
 Performing: In this phases, leaders give guidance as well as direction to team members
so they are accomplishing activities in an proper manner.
Motivational theory Maslow hierarchy need motivation theory: In this, organisation management have to
evaluate employees requirement for improvements. Certain main requirements are self
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actualisation, self esteem, social cultural and psychological. Mainly peoples are fulfilling
their requirements for meeting objectives and goals properly. Herzberg's two factor theory: In this motivational theory, there are two hygiene as well
as motivational factors as it gave impact on workers. Hygiene factor men component
which is existing within a working environment as well as aid in encouraging members of
staff. Motivational factors aid in developing workers satisfaction (Palattella and et. al.,
2016). Expectancy theory of Vroom: This theory over content and procedure motivation which
integrates reinforcements as well as equality theories. It aid in belief of an individual
success, instrumentally beliefs are claimed within practices and its targets.
leadership style Autocratic style: These styles of leadership is only have authority of making a decisions
as they do not involve workers, so management make judgements and select best
approaches for enhancing skills and knowledge.
 Democratic style: Organisation management involve employees while making a process
of decision making so that workers should feel stimulating towards company (Adjei and
et. al., 2014).
TASK 5
6.1 Influence of consumers services at a success of enterprise
Many of companies are enhancing techniques for operating a entire activities of
enterprise effectively. It is necessary to take an action plan of consumer services. By this,
organisations able to make a positive image of brand within the minds of customers which assist
in gaining high level of productivity along with its sustainability for a long period of time within
a working environment. Some influence of their customers services on firms can enhance their
value of brand at a marketplace, increasing of consumers satisfaction, sustainability, proper
financial statements, low risk, higher investment and many others.
6.2 Advantages of consumer services
By providing consumers services organisation are able to meet objectives by providing
higher quality of customer's services to their buyers. Some main advantages of customers
services are retaining individual potential within organisation, create a word mouth publicity,
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increasing workers self confidence, higher profits, competitive benefits and many others.
Different merits are provided to buyers that can help in organisation success as well as growth.
Some of are given below:
 Management use modified technology and tools like as computers, internet etc. for
managing records of customers and stock (Omar, Leach and March, 2014).
 Managers complete their goals and some customers data and informations.
 Certain goods of companies can easily identify their preferences along with their interest
of consumers (Petro and Gardiner, 2015).
CONCLUSION
From the above assignment it has been concluded that operations of business activities
assist in running a entire company properly within a span period of time. Organisation
management enhance techniques for stimulating workers as well as team development. By this, it
aid in enhancing productivity as well as performance in an effective way. In this company, every
department such as human resource, marketing, finance etc. effect the market position of the
firms. Organisation use various theories of leadership styles as well as motivational theories
along with that improvement in team development are also discussed within the company.
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REFERENCES
Books and Journals
Adjei, H., and et. al., 2014. Assessing the Corporate Social Responsibility Activities of Atwima
Kwawoman Rural Bank Limited and its Impact on the Communities it Operates.
European Journal of Business and Innovation Research. 2(4). pp.36-47.
Amit, R. and Zott, C., 2015. Crafting business architecture: The antecedents of business model
design. Strategic Entrepreneurship Journal. 9(4). pp.331-350.
Bernstein, M. H., 2015. Regulating business by independent commission. Princeton University
Press.
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for
business, government and civil society. Routledge.
Mackey, J. and Sisodia, R., 2014. Conscious capitalism, with a new preface by the authors:
Liberating the heroic spirit of business. Harvard Business Review Press.
Omar, A.T., Leach, D. and March, J., 2014. Collaboration between nonprofit and business
sectors: A framework to guide strategy development for nonprofit organizations.
VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations. 25(3).
pp.657-678.
Palattella, M. R., and et. al., 2016. Internet of things in the 5G era: Enablers, architecture, and
business models. IEEE Journal on Selected Areas in Communications. 34(3). pp.510-
527.
Petro, Y. and Gardiner, P., 2015. An investigation of the influence of organizational design on
project portfolio success, effectiveness and business efficiency for project-based
organizations. International Journal of Project Management. 33(8). pp.1717-1729.
Reim, W., Parida, V. and Örtqvist, D., 2015. Product–Service Systems (PSS) business models
and tactics–a systematic literature review. Journal of Cleaner Production. 97. pp.61-75.
Warner, K., 2018. Building rules: How local controls shape community environments and
economies. Routledge.
Weiss, J. W., 2014. Business ethics: A stakeholder and issues management approach. Berrett-
Koehler Publishers.
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