Today’s business world is too much competitive, as a result, a business organization has to do proper plans and strategies to develop their business processes, management practices, to select appropriate leadership style and to maintain both internal and external business environment to get the competitive advantage in the market. As a multinational groceries and merchandise retailer, Tesco has completed proper researches and develop proper operations and strategies to ensure the best management practices, effective leadership and to develop proper organizational culture and business environment for the betterment of the company. In this assignment, the cultural development, management practices and leadership style of Tesco Plc will be discussed.
Jack Cohen founded Tesco at Hackney, London, England in 1919 as a group of market stalls. Then, Cohen purchased a tea shipment from T. E. Stockwell and combined those initial two letters of his surname. It is a multinational groceries and a merchandise retailer that is headquartered in Welwyn Garden City, Hertfordshire, England. The first Tesco shop was opened in Burnt Oak, Barnet in 1931 and then the company started to expand its business outside the UK. Originally Tesco has distributed globally with the operations of 11 countries outside the UK in the 1990s.
Tesco is a private limited company and is the third-largest retailer in the world measured by growth revenues
The business vision of Tesco is becoming the most highly valued business by each and every stakeholder related to the business. They are operating their business with the mission to make what matters better together. In order to complete their business mission, they have found out their business goals and objectives
I have selected Tesco to discuss the business process, management practices, leadership style and other business functionalities of the company, as the business processes, objectives and goals and others business operations of Tesco are very well designed and organized. I think, the management leadership theories and model Tesco are following would be effective for proper growth and development of the organization. It will help to find out more business functionalities and to get some recommendations for future development of the company.
Management practices and leadership styles are very effective to make strategic decisions, to lead the company toward its business vision and to ensure proper growth and development of the employees as well as of the company. The management practices and leadership style of Tesco are discussed below-
Strategic management is the process with what the management of Tesco comes up with strategic business ideas and operations and make efficient decisions to meet the business objectives and vision. Strategic management helps the organization to plan for their future business activities and also combine their human power to complete all the business tasks –properly
Contingency management theory is also applied to manage and handle the business operations and activities of Tesco. The main concept of the theory is that there is no theory that is effective for all kind of business. There are different internal and external factors, culture also impact the selected management practice. The contingency management of Tesco identifies three variables that influence the structure and functionalities of a business organization that is styles of leadership, technologies being used and the size of the organization
System management theory is also used to the management of Tesco where the theory offers several alternative approaches to the planning and operation management of the company. The Theory divides the business into several parts that are working harmoniously. That helps the organization to perform larger system optimally. Here, employees are the most important elements of the management and employees must be well organized and determined to their duties
Leadership is a very effective term for any kind of business organization with what the leader brings together a group of people and empowered and motivated them to achieve a common business goal. Leadership is essential to direct the human power of the company in the right direction. The leadership style of Tesco is discussed below-
Tesco uses the democratic style of leadership as it allows all the employees to provide his personal opinions or decisions that help the company to find out the most effective decision for a particular situation. This type of leadership of Tesco motivates their employees and feels them confident while working
Organizational culture is very sensitive issues for any business organization. While running business internationally, Tesco faces different cultural differences from place to place such as education, culture, behavior, and language of the customers, etc. So the company has to develop different plans and strategies to cope with cultural changes or differences. The management of Tesco has different approaches to different aspects
They have developed their website with the language of the place they distributed their business and hired local employees who know the language and culture of the particular places. They always try to provide the best services to their customers and the company is also very loyal to its stakeholders. The company treats the people how they wanted to be treated, as they know the culture of respects and trust is very essential for the growth and development of the company.
Tesco is operating their business with the vision of becoming the most highly valued business by their each and every stakeholder and to continue to lead in the retail market across the world by focusing all the business objectives. The management, leadership style and culture of the company have positive impacts on the business vision of the company.
Tesco has different business policies and strategies to meet their business goals and objectives as well as to meet stakeholder interests. The management and leadership theories would be effective to develop new functions and strategies. The business functions and strategies of Tesco and the influences of management style and culture of them are discussed below-
Human Resource management: Human resource is the most important and essential element for any business organization, as the development and growth of an organization are highly dependable to the well trained and skilled human resources. Tesco has a well-planned recruitment and training process for its employees that enable to develop highly qualified employees. The system management style that is used by Tesco is very effective for the employees to work as a team to complete different tasks together. The Democratic leadership is also effective to make a proper decision by the employees and to develop effective communication between the employees. For example, when they decided to enter the Indian market, they recruited some Indian employees to know the culture and to develop an effective relationship with the local people.
Researches and Surveys: Researches and surveys are very essential to understand the customer needs and expectations of a particular and develop their products according to their customer's demands. The contingency theory of management is very effective to understand the changes in customer demands. The Culture of a particular area also influence the changes in the demands of the customers. For example, Tesco had completed proper researches about the cross-cultural changes of the Chinese people before entering the Chinese market
Production: System management style has some great influences on production work. Here, The management divides the production tasks into several portions and gradually complete all the tasks to complete a net amount of productions of a particular product. The cultural changes define which products should be developed in which amount.
Marketing: Marketing is a very important task for any business organization like Tesco. As Tesco uses democratic leadership an employee can take his marketing decision individually for the betterment of the company. The marketing and promotional activities of the company should be based on the culture, language, and behavior of the customers of the targeted market.
Finance: Strategic management is responsible to handle all kind of financing activities for the company such as funding, transaction, liabilities, financial distributions, budgeting, etc
Logistics Department: Tesco should follow all the logistic requirements of the countries where they want to distribute their business. As the different management styles and cultural differences, the business trades, laws and other legal issues could be different. For example, Outside the UK, Tesco has to follow different business trades and laws that could be different from the UK.
Tesco has designed their business with hierarchical organizational structure to organized the employees with different layers so that all the business decisions and tasks may flow from the upper layer to lower layer. All the development operations, activities, and designs of the organizations have already discussed above, now I have provided some recommendations for the further growth and development of Tesco-
Scientific Management Theory: This theory is essential to optimize the productivity of a worker of Tesco and it helps the employee to work with his best effort. Scientific management helps to promote extensive training, supervision, assignment based on the ability of the employee, specialization, and standardization of an employee. It is very effective to increase the productivity and benefits of the company
Classical Management Theory: Classical management theory is very essential for the betterment and development of the employees, as it focuses on the economics of organization employees. Here, the management focuses on the physical needs of the employees and it satisfies those physical needs with money. That is effective for labor specialization, profit maximization, emphasis on productivity and priority to the bottom line. The hierarchical structure, financial rewards, and employee specialization would be effective in this case.
Visionary leadership: Tesco can apply visionary leadership, as the visionary leader has the ability to drive all the employees towards the particular business goal and motivate and empower the employees properly
Autocratic Leadership: Autocratic leadership could be effective in special cases where only the leader has the right to take a decision. Sometimes this type of leadership is effective for fast development and growth of the organization.
Functional structure: They can use functional structure in their business, as all the tasks or business functions are well organized within the structure. The structure includes direction, supervision, allocation of tasks, etc.
Management practices, leadership ,styles, and organizational culture are very effective to operate a business organization properly and to meet all the business goals and objectives. The management practices, leadership styles of Tesco are perfect for the growth of the organization. They can also use the recommended management practices, leadership styles and organizational structure for their further growth and development.
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