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Unit 3.23 How Businesses Operate Assignment Level 3

1411Downloads1 I Published: 18 Apr ,2020

Introduction

Management of firm has develop plain to operating business activities in an effective manner. Operations activities includes manage inventory of raw material as well as finish goods, control over inflow or outflow, produce high quality commodities and services etc. All these factor has help organisation to gain competitive benefit as compare to competitors at market place. In this report select TESCO to explain impact of business operations on their performance. It is a British global organisation which run their business activities in retail sector. TESCO was established in the year of 1919 by Jack Cohen. Company has approx 6553 store at international level with almost 467000 employees (Reim, Parida and Örtqvist, 2015). TESCO is a third largest retail organisation in whole world. In this assignment cover motivation theories and leadership style. Also includes type of businesses and their structures as well as financial or HR function impact on enterprises success.

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Task 1

1.1 Kind of business on the basis of public as well as private

In the world several kind of organisation has work and each one has different goals and objectives related to operating business activities. Mostly private as well as public two type of company has run their business in UK. The private firm mean which can not offer share in market and government can not invest their fund into this. In public organisation, government has purchase some share of company as well as invest fund in order to retain right to participate in decision making process of management. Through this, government has save employees as well as public right on their money which are invested by them. Both kind of enterprises has run their business for profits but one major difference is public sector firm has work for clients interest as well as full fill their needs, want in an effective manner.

1.2 Several structures of business

TESCO has big organisation which are operating their business activities at international level. Some different type of firm structures are explain as follows:

Sole proprietorship: One person run all whole business activities in order to gain profits. They are responsible for both loss and profits. Mostly this kind of organisation has run their business at small level (Petro and Gardiner, 2015).

General partnership: Minimum two and maximum 50 person are work to with in a for to achieve common vision as well as mission limited period of tine. Management of an organisation has develop partnership deed and mention each one partners role, responsibilities with their agreed proportion of investment in business.

Limited partnership: Partners of firm develop partnership deed in this they are mention that each one of partner can liable on loss in limited or agreed mound so that they are save their right of running business activities with out or less liabilities. Through this, company can responsible for small amount of payment of losses to other like public, suppliers, vendors and many more. It also called limited by liability. In this minimum 2 and maximum partners are allow to start enterprises.

Corporations: Big organisation or group of companies are come under type of business. For example ASDA is a subsidiary firm of Walmart. In this kind of enterprises have develop board of directors and management concern them before taking decision related to company.

Non profits company: Non profits organisation has run their business activities for social development and they can not focus on profits or competition at market place.

1.3 Impact of local, national, international economic environment on the company performance

TESCO has world largest organisation which are operating their business at global level. So that, their performance may affected by different type of economical environment. Some of them are explain as follows:

Local: It mean city or town economical environment may affect TESCO performance. Management of the company has analyse some factor like per person income, living standard of people, preference, needs and many more (Palattella, and et. al., 2016). Each of this element may create positive as well as negative impact firm presentation and some other is high profits, build image, gain sustainability, customer's satisfaction etc.

National: Marketing manager produce product after consider all this, it help to gain profits and full fill demand of clients effectively. Some economical factor interest rate, exchange charge, taxation policies and many more are affect firms. Competition is very high in UK, so that management of TESCO has see their competitors strategies and develop their own to complete them effectively. Some positive impact of national economy is provide high market share, competitive environment, opportunities, profits, benefits of government policies and many more.

International: In various nation rule, regulation of retail trading is different so that TESCO has management has consider these all policies when they are operating business activities in other location. It create positive as well as negative impact on organisation performance (Omar, Leach and March, 2014).

Task 2

2.1 Importance of accounting

Accounting manager has play important role with in organisation. They make financial statements which are help government, public and others. Manager of firm has make budget for each one department like marketing, research and development, human resources, operations and many more and they are completing their work with given funds. Accounting is provide information related to cash or cash equivalents like how much amount are invest by different section, advertisement or promotional expenses, cash inflow outflow and other financial work are completed by accounting manager.

5.1 Various function of human resources department

Human resources management has play wider in respect to employees as well as employers. Some important role of HR manager in TESCO has explain as follows:

Training and development: Human resources executive has develop training plan in order to improve employee's skills, knowledges, capabilities etc. For this, they are analyse workers needs and wants accordingly make plan which help to enhance staff members performance as well as productivity in long period of time (Gassmann, Frankenberger and Csik, 2014). It is a most important activities that has improve motivation and self confidence to achieve goals, objectives in limited period of time effectively.

Appraisal: Management has make performance appraisal which help to analyse employees interest toward firm. TESCO has used 360 degree method of workers assessment. In this, they have received feedback form all staff members and interpreted them effectively in order to gain positive outcomes in limited period of time.

Recruitment and section: HR manager is hire candidates according to firm requirement. There are two recruitment sources internal as well as external and both have their own advantage or disadvantage. Management of TESCO used internal sources of recruitment in order to completing task in an effective manner. Some important internal recruitment sources are promotion, transfers, references, old staff etc.

Salary, compensation, HR polices etc.: It is a most important part of an organisation which are develop motivation among employees. HR manager has make salary, compensation plan, human resources policies and many more.

5.2 Key feature of employees legislation

In United Kingdom, government make several employees legislation in order to prevent rights of all staff members with in working place. It is a management responsibilities to implementing all law at work place to motive labour (Dunning, 2014). Some important legislation are explain as follows:

Discrimination rule: Discrimination on the basis of gender, age, education, experience, nationality, colour and many more can not implementing at working place by HR manager of TESCO.

Maternity leave law: Government of UK has provide 12 weeks maternity leave to all pregnant women. It is a company responsibilities to provide this facility to lady staff and they are also offer additional 12 weeks leave but firm can not pay amount for this kind leave to employees.

Minimum salary act: Each and every firm has provide minimum wages to all staff members which provide equal opportunities to all workers with in a organisation.

Task 3

3.1 Profits and loss account of TESCO

Profits and loss account has help management, public, government and any other person those are interested into organisation. It shows what is the company current position at market place. 

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

 Task 4

4.1 Explain own and other role in team

As a team leader my role with in group is controlling, directing, managing, influencing members positive behaviour, share experience, enhance motivation, analyse needs, reduce conflicts and many more in order to achieve goals and objectives in specific period of time in an effective manner (Doppelt, 2017). Other group members has also play some role and responsibilities toward team are follow subordinates path, share information related to project work, competing task, analysis market and many more. Through this, firm are capable to gain higher profitability in long period of time in appropriate manner.

4.2 Team development plan

TESCO HR Managers has enhance their plan for raising workers capabilities as well as professional skills. Their are different phases of improving a team plan by HR mangers of an organisation are as follows:

Forming: It is an initial phase of developing a group which is explained as building a ateam management according to its abilities, capabilities and skills. Coordinating and directing them to accomplishing a work properly (Bernstein, 2015).

Storming: HR executive are conducting a brainstorming work for all workers to increase their knowledge as well as skills which aid them in meeting goals properly.

Norming: In this phase, companies management has enhance policies or techniques to build a good relations within team members which aid in removing disputes.

Performing: In this leaders give directions and guidance to team so that they can accomplished activities in an proper manner.

Motivational theories

In this theories is an one of necessary techniques which are used by companies for improving performance of workers and productivity. Tesco management had used various theories of motivational for increasing their workers satisfaction towards company. Some of theories are as follows:

  • Maslow hierarchy need of motivation theory: In this Tesco management have to evaluate their employees requirements for improving their satisfaction. Certain main requirements are self actualisation, self esteem, social cultural etc. generally, people satisfied their wants and needs which aid in meeting objectives and goals properly (Amit and Zott, 2015).
  • Herzberg's two factor theory: In this, there are two types of hygienic factors as well as motivational impact on their workers. This factors mean components which exist within a a workplace along with that it aid in stimulating workers. This factor of motivational aid in managing for enhancing satisfaction of workers.

Task 5

6.1 Impact of buyer's services on organisation success

Management of an organisation has develop effective customer's services in order to improve clients satisfaction. Through this activities, firm has build strong brand image at market place which help to achieve higher market position, profitability, awareness about product features, quality, technology at market place. Each and every organisation management are focus on clients gratification because through this firm are selling their product to existing consumers, gain advantage of mouth publicity by offer high quality services and several more points which affect organisation success.

6.2 Benefits of clients services

There are various positive as well as negative benefits associated with customer's services of the company. It is a management responsibilities to manage all activities related to consumers effectively which help to enhance buyers satisfaction in positive ways (Adjei and et. al., 2014). Some important benefit of this work are higher clients retention, satisfaction, profitability, sustainability, market position, complete competition, high sales volume, expand working area, mouth publicity and many more.

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Conclusion

From the above report it is concluded that operations is a one of the important activities which are help to run enterprises effectively. It is a management responsibilities to manage all task with in organisation effectively to gain higher profitability, sustainability in long period of time. They are conducting an event for increasing performance of workers and its productivity. Visit our website for assignment help in Australia

References

  • 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.
  • Dunning, J. H., 2014. The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Routledge.
  • economies. Routledge.
  • Gassmann, O., Frankenberger, K. and Csik, M., 2014. The business model navigator: 55 models that will revolutionise your business. Pearson UK.
  • 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.
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