Report on TESCO Business Operations: Accounting, HR, and Teams

This report provides a comprehensive analysis of TESCO's business operations, covering key aspects such as the significance of accounting for organizational success, including budget planning, record-keeping, decision-making, and investor relations. It presents accounting information using a P&L statement and explores team development theories, including the Tuckman model and the identification of roles within a team using a matrix structure. The report delves into various motivation theories, such as Maslow's hierarchy, Hertzberg's two-factor theory, and Vroom's expectancy theory, alongside an examination of different leadership styles. It also describes the functions of HR professionals, including HR planning, recruitment, and performance management, and outlines key features of employment legislation. Furthermore, the report assesses the impact of customer service on organizational success and highlights the benefits of customer profiling for business, concluding with a discussion of how these elements contribute to TESCO's overall strategy.

How business operates
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 2............................................................................................................................................3
Explain significance of accounting for success of organisation.............................................3
TASK 3............................................................................................................................................4
Present accounting information by adopting P& L accounts.................................................4
TASK 4............................................................................................................................................5
Describe team development theory........................................................................................5
Carry out assess to identify own and others’ roles in team....................................................5
Analyse three motivation theories..........................................................................................6
Hertzberg’s two factor theory.....................................................................................................7
Describe different types of style of leadership.......................................................................7
TASK 5............................................................................................................................................8
Describe the functions executed by HR professional of company.........................................8
Outline features legislation of employment...........................................................................8
TASK 6............................................................................................................................................9
Determine effect of user service on success of organisation..................................................9
Benefits of customer profiling for business............................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
Business operation signifies activities and function in which the organisation increases
engagement on regular basis to enhance value of enterprise and earning profit margin. It is
helpful in generating revenue and also covers expenses of business organisation. In this report,
TESCO is taken. It is the international company provide wide range of products& services to
customer for satisfying them. There is a discussion regarding significance of accounting for
success of business organisation and various functions which is performed by HR manager in
company. In addition to this, the employment legislation is also explained in this report. There is
explanation regarding accounting information by using P&L and the stages which is used for
team development. Apart from this, there is an explanation in respect of motivational theory and
leadership style which is used for success and growth of organisation. And, it is also analyse that
effect of customer services on profitability of business organisation during the period of time
(Boone, Kurtz and Berston, 2019).
TASK 2
Explain significance of accounting for success of organisation
Accounting is important for success of organisation as it assists in tracking revenue &
expenditure and also makes ensure regarding statutory compliance to investor, administration
and government along with quantitative financial information that is adopted in taking decision.
Therefore, the importance of accounting in organisation that is given below:
Budget planning for every organisation, budgeting is determined as a key element as it
assists organisation to improve strategy to save money, assessing expenses that maybe exceeding
budgeted amount. For making appropriate budget, the company require several previous records.
This will be possible through record is maintaining by accounting. Therefore, in context of
chosen organisation, the management team make planning for budget of business organisation
that is helpful in taking decisions.
Record Keeping the company need to maintain record of every transaction to operate
organisation in smooth manner. For keeping record, the accounting is very important. These
kinds of records must be gathered, organised and operated in order to communicate to its end
user. Thus, the chosen organisation keeping record that helps in organising their business in
smooth manner.
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Decision making accounting is very important in taking decisions and the organisation
required financial statement. And, the financial statement is considered as a result of accounting
system for staff. Thus, the chosen organisation focuses on maintaining appropriate record related
to accounting that is helpful in achieving objective of organisation in timely manner.
Investors there are different stakeholder’s required financial information in context of
financial statement. For instance, the stakeholders needed financial information for investor,
government, and customer and for its employees. Thus, the chosen organisation need
information regarding investor that helps in increasing understanding regarding performance &
progress of organisation (Cosenz, 2017).
TASK 3
Present accounting information by adopting P& L accounts
The P&L account signifies financial statement which presents picture of loss and
expenditure in addition with profits that every organisation creates every year. The profit & loss
statement for chosen Company is given below
Figure 1: TESCO Profit and Loss Statement
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TASK 4
Describe team development theory
There are five stages in Tuckman model that is used for developing team which is going
to be mentioned below:
Forming: it is considered as a first level which involves assembling team member for
assigning work by adopting communication channel among team. Therefore, in context of
chosen organisation, the manager allotted role in assistance with opportunities that helps in
accomplishing outcome in time manner.
Storming herein, the leader of Tesco emphasize on motivating team member that help in
accomplishing target in timely manner.
Norming in this stage, the member of team of Tesco provide support to each other in
allotting task.
Performing it is determined as a level in which team member increase their bonds that
help in achieving personal as well as professional goals.
Adjourning it is considered as a last stage in which subordinate of TESCO are separated
after finishing work.
Carry out assess to identify own and others’ roles in team
Matrix structure
Herein, in two structure must be combined together to get better outcomes in which
subordinate get direction from boss in order to complete project. It is important to manage
appropriate balance among both structure, thus it offers an opportunity to share skill & talent
among various department that assists in strengthening positioning of company and achieving
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competitive edge. And, herein my role is to take direction from leader and organise different ask
in proper way. It will be assists in enhancing my performance in upcoming time period..
On given structure, it has been analysed that Tesco adopt Matrix structure. Generally, the
large company who operate at large level adopt matrix structure in order to accomplish objective
in timely manner. It offers flexibility to their department that help in coordinating with one
another by communication and collaboration that help in achieving goal in timely manner.
Therefore, the matrix structure is suitable for organisation to bring coordination and
collaboration among various departments.
Analyse three motivation theories
There are various motivational theories is adopted by management team of TESCO that
is used for motivating subordinates for performing task in appropriate manner.
Maslow theory there are five theory of motivation is understood by explaining five levels which
is going to be mentioned below:
Physiological need include need of human without this the survival of individual person is
a complex. The type of requirement is like food, clothes as well as water.
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Safety and security the need related to health, job security and so on which is required by
every staff member from organisation.
Social need include need related with love and affection in which every person expects
from another in return.
Esteem need include need related with respect, recognition and appreciation from other
individual person that must be fulfilled by Tesco.
Self-actualization this requirement is needed by the person when all need are satisfied.
Hertzberg’s two factor theory
This theory classified requirement into two categories on hygiene factors & motivational
factors. Hygiene factors are required to ensure that subordinate is not dissatisfied and in addition
to these motivational elements are needed to make sure that satisfaction of subordinate and their
motivation helps in increasing their performance. In assistance of this, there are various hygiene
factors that do not provide guarantee related to motivation and presence of factor of motivation
in absence of hygiene elements and they do not perform work (Hamilton and Webster, 2018)
Vroom expectancy theory
It is considered as a theory that determines behaviour which leads to conscious choice
and their motive is to increase pleasure and reduce pain. Therefore, the vroom analyse overall
performance of staff member that is depend on various types of individual factors such as
personality, skill and so on. In assistance of this, the contribution and motivation is
interconnected with each other. In this procedure, the administration team of chosen organisation
use various variables such as expectancy, valence as well as instrumentality. Apart from this, the
theory analyse requirement of subordinate and motivate them to achieve goal in timely manner
Describe different types of style of leadership
There are various types of leadership style adopted by TESCO that is going to be
mentioned below:
There are different types of leadership style that is given below:
Directive leadership style it offer direction to leader to take effective decisions without
discussing with subordinate for their feedback leads satisfaction among subordinates and
increases rate of turnover.
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Participative leadership style herein, the leader focuses on taking decisions with
involvement of staff members that assists in organising various task in an appropriate manner.
TASK 5
Describe the functions executed by HR professional of company
\ The HR department focuses on handling different function within business organisation.
There are different functions which are performed by HR manager that is going to be mentioned
below:
Human resource planning this is determined as a first function which is performed by
HR manager in order to understand need and want of business organisation. Therefore, the focus
is on recruiting &analysing performance of individual person and providing training to candidate
for enhancing their knowledge for performing different task in proper manner (Hoerl and Snee,
2020).
Recruitment and selection this is determined as other function of HR in which the main
purpose is to select right candidate in right place for executing different task in proper way that is
helpful in increasing performance level of business organisation in future period of time.
Performance management performance administration is important in make sure that
the staff member is still productive & engaged. Thus, it is necessary to have a superior
performance administration that include good leadership, open feedback, clarified goal and many
more. They also use 360 degree feedback in order to analyse performance level of individual
person within an organisation.
Outline features legislation of employment
There are different types of employment legislation that is going to be mentioned below:
Data protection act was specified by UK regime & related to monitoring information of
staff member. According to this act, in context of chosen organisation, it is determined as
responsibility to make sure that whole data as well as information, staff member is protected as
well as quality maintained.
Discrimination act this law was specified which is connected with promoting equality
within an organisation. As per the law, there are not any types of practices related to
discriminatory as per culture, marital status and many more. For the chosen organisation focuses
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on making sure that there is not any kind of discriminatory practices prevailing within an
organisation.
TASK 6
Determine effect of user service on success of organisation
It is necessary to provide good customer services that impose direct effect on organisation
success. It creates goodwill, trust and loyalty to provide effective services to customer that
helps in enhancing reputation of organisation in mind-set of user in Marketplace.
It is necessary to being courteous to user and deal with them in proper way. Therefore,
the manager of Tesco emphasised on dealing with user in courteous way for sustaining them for
longer time period.
Providing best experiences it is necessary for organisation to provide good experience to
customer for success and growth of organisation. In context of Tesco, they provide superior
experience to user for growth and success of organisation (Storey, 2016).
Benefits of customer profiling for business
There are various benefits of customer profiling to TESCO that is given below:
Tailor relevant audience customer profile help TESCO to tailor their communication
depend upon particular interest for future. It leads to increase in user experience, engagement and
enhances Sales
Enhance response rates customer profile help the Tesco in communicating right
segment of individual person at right time that leads to increase in sales in future period of time.
Improve customer acquisition a customer profile assists in increasing understanding
regarding potential user that help organisation to look towards prospectus with similar
characteristics. Therefore, it is helpful for Tesco in understanding need of users in user so that
they can increase their experience level in future period of time (McKinnon, 2016).
CONCLUSION
On given assignment, it is assess that business operation signifies activities and function
in which organisation increases engagement on regular basis to enhance value of enterprise and
earning profit margin. There is an explanation in respect of motivational theory and leadership
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style which is used for success and growth of organisation. And, it is also analyse that effect of
customer services on profitability of business organisation during particular phase of time period.
REFERENCES
Books and Journals
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Eicher, S. ed., 2016. Corruption in international business: The challenge of cultural and legal
diversity. CRC Press.
Gattorna, J., 2016. Dynamic supply chain alignment: a new business model for peak
performance in enterprise supply chains across all geographies. CRC Press.
Goyal, S., Esposito, M. and Kapoor, A., 2018. Circular economy business models in developing
economies: lessons from India on reduce, recycle, and reuse paradigms. Thunderbird
International Business Review, 60(5), pp.729-740.
Hill, A., 2017. Just business: Christian ethics for the marketplace. InterVarsity Press.
Lakin, N. and Scheubel, V., 2017. Corporate community involvement: The definitive guide to
maximizing your business' societal engagement. Routledge.
Laudien, S.M. and Daxböck, B., 2017. Business model innovation processes of average market
players: a qualitative‐empirical analysis. R&D Management, 47(3), pp.420-430.
Nuthall, P.L., 2018. Farm business management: the human factor. CABI.
Ratten, V., 2016. Female entrepreneurship and the role of customer knowledge development,
innovation outcome expectations and culture on intentions to start informal business
ventures. International Journal of Entrepreneurship and Small Business, 27(2-3), pp.262-272.
Volberda, H.W., Van Den Bosch, F.A. and Heij, K., 2018. Reinventing Business Models: How
firms cope with disruption. Oxford University Press.
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