This sample will answer you about:
- Internal and external factors of Tesco
- Covered in PPT
- Promotion of tesco
- covered in poster
Case study of Tesco on Human resource
Human resource are accountable for the recruiting, training, resolving of any conflicts among the employees and managers. Jack was recruited as HR practitioner. Within one month in job Jack asked to take charge regarding the programme for the whole firm . As he was the new one so strictly followed to the process. Recently Adam joined the firm and Jack was needed to oriented him (Irshad and Awang, 2018). On the first day of the Adam,Jack was the one who introduced him to the rest of the employee but the mentor assigned to the Adam was not there at that time and Jack was unable to meet Adam to his official mentor. The Tesco is also knowns for their welfare activities as well as staff members within the firm from more than a decade. The employs of the Tesco are more than 700 employs as 150 administrative employees while 100 are at the management level staff members. The top level of the managers of the Tesco views of the staff members at the same level as it can be clearly understands that there is an uniform of the firm from the upper level to the lower level. The firms have Two general stores at different places. One is at the rural are while another one is at urban area (Choi and Lee, 2018). Within short firm maintains the Employee equality. The firm has to only one registered Union as well as he management level is also considers as very cordial as the firm has not till now losses a single man due to the strike. The policy of the firm as compare to the other similar firms is considered as very little staff members as they are unable to have many grievances because of the other benefit that can be provided through the firm but at the same time firm is also facing various problems within the supplying of the materials to the customers by online procedure and if the goods are reached to the customers than they have very quality issues ,mismatching between the online products and delivered products and also mismatching of the materials as products are not delivered to the customers as per their order for examples they orders biscuits but chocolates delivered to them. The issues created within the quality of the products is that the top-level managers of the Tesco gives burden to the staff member earlier it was not like this top-level mangers are not discrimination to the lower level employees after form some time low level employees faces discrimination on the basis of gender, race and age as well. For example Jack and Adam are the employees as jack was senior to the Adam but top level managers discriminated Jack because of his age and gives al his responsibility to the who was not experienced as compare to the Jack. There was another example where a female employees gets less paid as compare to the Male employees and when she compliant about that incidence no one listen her as so many co -workers made fun of her. They said that Females do less work as compare to man later all of those members fired to the jobs who dis discrimination to her.
One more example one female employees was mentally and sexually harassed by a male co-worker form about six months and when she complaint about this to their managers all of them makes fun of her and said takes it as complement that someone likes you (Zeinali, Karsinos. and Moradi, 2017). After this incidence the ratio of the female employees were become very less and When Top level get to know about this they fired the employees who harass her and also who made fun of her. Due to above incidence Tesco faces a lot of the discrimination and Firms like Walmart Takes advantages of such incidence as all the staff members attracts the polices of the Walmart which is Quite flexible for the employees. As Walmart makes the shift for the females employees where only females workers can work and there are no interferences of the male employees. Later after seeing all this, managers of the Tesco focuses on the loopholes within the various department of Tesco specially the equality of the employees and hand over all the responsibility to the HR department to solve such kind of issues. When the HR managers of the Tesco focused on the issues than came to realises that they treat their workers within a very casual approach. Instead of focusing on the problems that how to deal with employees Tesco hires the new employees, so they need to take care of the employees specially listen to them. HR managers also focuses on the Rewards management as the employees are easily motivated by the rewards as well as recognition. As the staff members are sometimes not satisfied only to get the facilities, but they sometimes performance appraisal as well. HR managers of the Tesco need to focus on giving the employees training about the equality as no one can be discriminated on the base of the age, gender, beliefs, values, colour. HR managers also follows the hygiene factors as according to this theory there are various employees as the presence of them will not create major influences but also due to the absent of such things leads to the demotivation of the employees. Thus here employee recognition lays a crucial role of the when there is a failure of the management. It also assist the Firms to come out from the critical issues (Plagemann, 2019).
Report of Tesco on financial management
Financial management refers to strategic planning, to organize, direct and control of financial undertakings of the organization. Financial management include application of management principles over financial assets of organization. It plays and important part in fiscal management of business. The objective of financial management is of maintaining adequate supplies of funds and resources for the organization. It ensures that shareholders of organization have good returns over their investments. Financial management helps the business organization in making the funds available for carrying out the required transactions. If adequate funds are not available for carrying out the operations it may lack behind and prospective desired targets may not be achieved by the company. Financial management of company is concerned with maximizing the returns of shareholders and their wealth. Sufficient funds will enable the company to attract new investors that will aid in raising the funds from market. Companies with effective financial planning helps in achieving the objectives (Sadeghi and Mizera, 2017).
Role of finance function in Tesco: finance function involves the acquiring and utilization of funds necessary for efficient operations. Finance is the lifeblood of business without it things wouldn't run smoothly. It is the source to run any organization, it provides the money, it acquires the money. Tesco needs to hire and recruit more efficient and skill staff so that they can manage company’s fund effectively and efficiently. In this training must be provided to employees of Tesco, so that they invest funds in most appropriate place and they get better return on investment. This aspect can help firm in growing and also achieving their business objectives. Finance department is also concern with appropriately managing funds which is been coming in company because of marketing department hiring and recruiting efficient and skilled staff. This can help Tesco in enhancing their revenue and also it increases productivity (Xiao, Zhang and Hou, 2019). Role of finance function is most important in organization like Tesco as it helps firm in making decisions related to managing liquidity of company. An investor will only be interested in company if it has huge incoming of cash. Investors will check upon financial function. So that Tesco needs to manage its finance function appropriately. It also helps firm in taking investment decision. This department of Tesco works towards maximizing shareholder’s wealth. On the other hand the use of debt affects the risk and return of a shareholder. It is riskier though it may increase the return on equity funds. These decisions are of utmost importance to organization. It helps firm in growing and achieving competitive advantage. Also finance department makes sure that assists of company is increasing and liability is been decreasing. This will assist them in attracting more investors towards them which is really essential for growth of firm. Financial manager of Tesco must make sure that they acquire huge amount of fund which they can invest in various productive places. This can help firm in expanding their market share. Also, finance department of Tesco must work with coordination with other department. This is really necessary for growth of Tesco (Mastorakis, and et.al., 2018). Role of finance function is to maximize shareholders profit and also they have the main role to invest in most beneficial investment that helps company in growing. Investors will only be positive towards Tesco when they know that company is engaged in making high amount of profit and investing their resources in places where there is high amount of return. It is necessary for company to take some measures to improve their financial management so that operational performance as well as finance is improved. For this it is required to make some changes in financial management and reporting improving the situation. However, it requires to install technology or computer systems to that the process is streamlined. For this transaction processing system can be installed which will help in automating transaction and to enhance business efficiency of Tesco. the system is designed to record, store, retrieve, etc. all data and information related to daily transaction of organisation (Wang, 2017).. with help of it, the finance director can manage and record all types of transactions. it will store information of daily orders, total bill of customers, payment made, etc. Moreover, both admin and finance function can communicate data and info and access it easily. Thus, it will enhance business efficiency of organisation as they will be able to produce meals on basis of order deadline. However, the overall function will be automated. Along with it, both internal and external transaction that is customers as well as suppliers are recorded and stored in proper way.
In this way financial management can be enhanced and reports are formed. besides that , by automating it errors and deviation are identified and improved. This will lead to change in things and sharing of data and info quickly to other departments. in addition to it, TPS will enable in providing real time data and updating it easily whenever there is change in transaction.
The role of financial management and reporting within the organization: Financial management has the most important role in working of any company. Managing funds is the duty of finance managers, they need to have check upon financial health of Tesco. Financial management makes sure that funds are available to them at reasonable cost as if they are not available to them at sufficient price, then this can hamper the growth of firm. Financial management helps company in knowing that funds are being effectively utilized and is going to bring profitability to the. It will help Tesco in growing and achieving their long as well as short term financial growth and objectives. Financial management also supports Tesco in identifying and evaluating sources of finance. They analyse from where to take funds. There are various sources of funds which are available to company like for example angel investment, venture capitalist. These sources of funds can help company in growing. Also it supports Tesco in making financial decisions such as investment decision. Department have knowledge about where it would be beneficial for them to investment. This help Tesco in growing and gaining competitive advantage (Wang, 2017).
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