Comprehensive Report: Tesco Business Operations, HR, and Accounting

This report provides a comprehensive analysis of Tesco's business operations. It begins with an introduction to the company, its establishment, and the importance of analyzing factors affecting business operations. The report then delves into specific areas, including the importance of accounting for business success, the functions of the HR department, and key features of employment legislation. It also includes an interpretation of the profit and loss account and an analysis of team roles, motivational theories, and leadership styles. The report concludes by summarizing the key findings and providing relevant references, offering a thorough examination of Tesco's business strategies and practices.

HOW BUSINESS OPERATE

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
TASK 2 ...........................................................................................................................................1
2.1 Importance of accounting for business success....................................................................1
5.1 Functions of HR department in business..............................................................................2
5.3 Key features of employment legislation...............................................................................2
TASK 3............................................................................................................................................2
3.1 Interpret the information on profit and loss account.............................................................2
TASK 4 ...........................................................................................................................................4
4.1 Analysis to determine your own and others’ roles within a team.........................................4
4.2 Notes which can be used to support future training events..................................................4
4.3 Appropriate use of different motivational theories in business activities.............................5
4.4 Impact of various leadership styles on employees................................................................5
TASK 5 ...........................................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES ...............................................................................................................................6

INTRODUCTION
Before operating a business activities, it is require to analyse each and every factor that
can affect it operational and functional business approaches. Through this management of firm
can easily take specific decision for organisation's future success. In this process, business
environment play a most important that classify as internal and external factors of environment.
These kind of elements have direct impact on business operation activities (Shenkar, Luo and
Chi, 2014) . This reports is based on Tesco which is a British multinational grocery retailer in
UK. This company was established in the year of 1919 by Jack Cohen. This report represent
types of organisations, different structure as well as impact of local, national and global
economic environment. Project is also discussion about importance of accounting, performance
of Human resource department, employment legislation and profit and loss statement. At last this
report analysing support of future training events, different motivational theories, impact of
customers services and its benefits as well.
TASK 1
(Covered in PPT)
TASK 2
2.1 Importance of accounting for business success
Tesco is a multinational grocery retailer firm that provide its quality products and
services in several countries. For them it is require to manage accounting system properly to get
appropriate information of organisational income and expenses. Management accounting has
positive impact because it is uses to manage funds, reserve and investment of firm easily.
Importance of accounting for business success is given below -
Minimise losses – Accounting management of a firm helps to reduce losses and number
of expenses through appropriate techniques. For this organisation needs to hire experienced
candidate who helps to invest funds and reserve at beneficial place (Storey, 2016).
Helps to build financial and accounting budget – Tesco is a multinational firms and
for them, it is require to manage financial and accounting budget on timely bases to getting
proper information of business activities.
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5.1 Functions of HR department in business
In a business organisation, human resources department play a most important role to
manage business activities in appropriate and accurate manner. In this human resource manager
of firm conducts their operational activities to analyse firm's need and requirement to attaining
future objectives and higher success easily. There are various function of Human resource
department are given below as -
Recruitment and selection – This is major function of HR department of Tesco, to hire skilled
and experienced candidate according to organisational objective and goals.
Training and learning – Human resource manager of firm conducts training and development
program in their organisation to enhance interpersonal skill and working capacity of individual.
5.3 Key features of employment legislation
For a business organisation, it is require to implement legal factors and elements to
getting effective outcomes easily. Government of a country regulate several law to protect
employment rights in several business organisations (Ward, 2016).
Healthy and safety act – It is responsibility of management of firm to consider health
and safety off their employees. This is helps to build positive environment within organisation
easily. For this management requires to provide facilities and services to their workers.
Minimum wages act – This act is regulate to protect employment services within an
organisation. Government of UK regulate minimum wages act for employees to provide
appropriate amount for their services.
Equality act – This is require that organisation and management provide equal
opportunities to each and every employees of firm as per their skills and working experience.
TASK 3
3.1 Interpret the information on profit and loss account
Revenue 2/24/2018 2/25/2017 2/27/2016 2/28/2015
Total Revenue 56818000 55295000 53357000 56388000
Cost of Revenue 54092000 52932000 51184000 54320000
Gross Profit 2726000 2363000 2173000 2068000
Operating Expenses
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Research
Development - - - -
Selling General
and
Administrative 1106000 1190000 1367000 1949000
Non Recurring - - - -
Others - - - -
Total Operating
Expenses 55198000 54122000 52551000 56269000
Operating Income
or Loss 1620000 1173000 806000 119000
Income from Continuing Operations
Total Other
Income/Expenses
Net -322000 -1028000 -604000 -6453000
Earnings Before
Interest and
Taxes 1620000 1173000 806000 119000
Interest Expense -427000 -513000 -480000 -487000
Income Before
Tax 1298000 145000 202000 -6334000
Income Tax
Expense 306000 87000 -54000 -670000
Minority Interest -22000 -24000 -10000 -10000
Net Income From
Continuing Ops 992000 58000 256000 -5664000
Non-recurring Events
Discontinued
Operations 216000 -112000 -127000 -102000
Extraordinary - - - -
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Items
Effect Of
Accounting
Changes - - - -
Other Items - - - -
Net Income
Net Income 1206000 -40000 138000 -5741000
Preferred Stock
And Other
Adjustments - - - -
Net Income
Applicable To
Common Shares 1206000 -40000 138000 -5741000
TASK 4
4.1 Analysis to determine your own and others’ roles within a team
In a business organisation, it is require that each and every employees provide their
specific contribution to attaining firm's future goals and objective easily. In this procedure, I
perform my own role with proper responsibility to completed each and every task. In a team, I
needs to manage all working activity and provide appropriate direction or guidelines to my junior
employees. For this I am generally conduct monitoring and analysis process to identify my peer's
skills and working abilities. Through this I provide my own contribution in a team to attain
organisational objectives easily.
4.2 Notes which can be used to support future training events
There are various Stages of team development are given below -
 Forming – This is responsibility of an leader to analyse nature and skills of each
individual that helps to build a impactful team easily. In this process member of team
should have to be supportive and understanding toward their training process.
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 Storming – This is the next step of team development in which leader pushes individual
beyond their limitation. Through this they can easily enhance employees interpersonal
skill and move them one step up to their comfort zone (Dunning, 2014).
 Norming – In this step employees start interaction procedure with their peers to resolve
problems and issues of each others. Through this they can easily start to work in a team.
 Performing – This is last step of team development in which individual perform their
skills and role in a team that helps to attain organisational goals and objectives.
4.3 Appropriate use of different motivational theories in business activities
In a business organisation it is require that leaders and management provide their own
contribution to enhance business activities through different motivational theories.
Maslow's Need Hierarchy theory – This theory is basically uses to identify individual's
personal, physiological, social, esteem and safety and security needs. Through this leader can
easily develop motivation in each employees of firm.
McClelland's Need Theory – This theory is determine that how a individual attain their
goals and objectives through different elements as achievement, affiliation and power.
4.4 Impact of various leadership styles on employees
In Tesco, leader play a most important role to provide appropriate direction and guideline
to their peers. Through this they can easily attain organisational goals and objectives.
Autocratic – These type of leaders provide appropriate information to their employees
that what to do and how to do by their own (Doppelt, 2017).
Democratic – These type of leaders are very different to Autocratic because they involve
some their employees in decision making process.
Laissez–fair – These leaders provide equal responsibility and opportunity to their
employees in decision making procedure.
TASK 5
(Covered in PPT)
CONCLUSION
From the above report it has been summarised that for a business organisation, it is
require to analyse their business activities to operate them in effective manner. Through this firm
can easily get desirable profit and success easily. This project reports is based on Tesco which is
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a British multinational grocery retailer in UK. So for them it is require to manage their
organisational activities in appropriate manner to attain business objective easily.
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