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| Business at workp> Survival. Survival is an important objective for many businesses. It is particularly important when businesses are vulnerable such as: . during their first few years of trading . during periods of recession or intense competition . at a time of crisis such as a hostile takeover. Increasing sales or market share. . increased returns for the owners of the business . higher salaries for employees of the business . a wider range of products for the business’s existing and potential customers. Providing social or community service. Charitable and non-profit objectives. . to rise the public’s awareness of the cause that thy support. . To rise funds to support their projects. Producing high quality products. Tesco is committed to retaining its position as the UK’s largest
supermarket retailer. Customer feedback forms, in-store discussion groups
and a continuous analysis of sales figures has enabled Tesco to recognise
the importance of the key principles of price, quality and service. Tesco’s main business objectives: . to provide customers with outstanding, naturally delivered, personal service . to earn the respect of its stuff for the values and appreciate their contribution . to understand customers better than anyone . to be competitive even on the basics . give customers a broad range of strong relevant promotions in all departments of the store . give customers what they want under one roof . provide an environment that is easy and pleasant to shop in . upgrade existing stores to the standards that is expected from Tesco . to recognise Tesco has brilliant people, use this strength to make customers’ shopping enjoyable in a way no competitor can . use intelligence, scale and technology to deliver unbeatable value to customers in everything Tesco does . to maximise profits to provide high returns for shareholders . to increase sales or market share as much as possible . advertising should appeal to all customers in a relevant Tesco’s main mission statements: . To be world’s best and largest supermarket retailer. . Completely increase value for customers, and to earn their time loyalty. How Tesco is going to achieve these objectives? What Tesco expects from its staff in order to achieve this? . Are all retailers, working as a one team. . Trust and respect each other. . Respect all customers, the community, suppliers and the competition. . Strive for personal excellence in everything they do, leaving no stone unturned in order to get it right. . Are encouraged to take risks, give support and do not blame others. . Are rewarded for creating value for customers. . Are talked and listened to: and their knowledge is shared, so that it can be used. . Have fun, celebrate success and learn from failure. What is the comment Tesco has to its customers? . works closely with suppliers to ensure products are of the highest quality and are delivered to stores in the best possible condition. . makes sure that its staff are committed to giving the best possible quality of service. . aims to create in its stores an environment which makes shopping easy, interesting and comfortable. E3 Organisational functions. The resources of the business. - CAPITAL refers to any manufactured product used by the business to make other products. This category therefore includes all machinery, vehicles and office equipment used in businesses. It also includes the company’s buildings. - LABOUR is the human resources used by business organisations during production. - LAND – site on which the business is located and natural resources it might use. - ENTERPRISE – owners and shareholders. Functional areas. . finance . production . human resources . administration . research and development The financial function. Extensive use of IT Produces standards cost data Customers Auditors Inland (price list) (accounts) (information relating to tax liability) Figure 1.3: The financial function
. records all financial data . chases up slow payers . collects payments from customers . provides information to external bodies . analyses costs . advises board of directors . monitors and analyses financial data . advices managers and budget holders Production function. Production covers all the activities that must be undertaken to make the
firm’s products, from the receipt, of raw materials through to the output
of the final product. The production function concentrates primarily upon
planning and controlling the various stages of production so that the most
efficient use is made of business resources. . maintaining supplies of components and raw materials to ensure continuous production . ensuring that the precise requirements of customers are met . monitoring quality to insure that finished products meet the quality standards expected by customers . using resources – people, machinery and production space – as efficiently as possible to make the business competitive in the markets in which it trades. One of the most important issues in production is quality. Modern
businesses compete just as strongly on the quality of their goods and
services as they do on price. Figure 1.4: The links between the production function and other departments The human resource function. Personnel management considers the tasks involved in managing people –
recruitment, selection and so forth – as separate elements. It does not
take into account how these elements can combine to achieve organisational
objectives. . recruiting employees – both internally and externally . training new and existing employees . paying salaries . dealing with disciplinary matters and grievances . overseeing industrial relations, by seeking to avoid disputes and maintain harmonious relations and constant production . developing and monitoring an employee appraisal system designed to assess performance, set targets for achievement and identify any training needs Figure 1.5: Developing a human resources plan The marketing function. The marketing department carries out a wide range of functions on behalf of
the business. Essentially marketing is communications. The marketing
department communicates with a number of groups inside and outside the
business as it carries out its tasks. . keeping customers satisfied . discovering the needs of customers and advising the production function accordingly . carrying the responsibility for ensuring the effective distribution of products to wholesalers and retailers . liasing with marketing agencies to provide the necessary expertise (small firms) . if the firm is an export, the marketing department may have contact with government agencies. . early warning of changes in consumer tastes and fashions through regular market research . knowledge about competitors and information regarding competitors’ product . the means to present the company in a positive light through public relations activities . allowing the firm to improve the quality of its products by coordinating and analysing customer complaints . providing a catalyst for growth by forging relationships with distributors, retailers and customers in new markets . supplying consumers with the products they want and giving high levels of customer satisfaction, which might permit a business to charge higher prices thereby increasing its profitability. The administration function. The scope of the administration department varies enormously between
organisations. In a small business the administration function might
incorporate a number of the functions like finance , personnel and
marketing. However, larger organisations are more likely to operate a
specialist administration department. . Administration department carries out organisation’s IT system. . Clerical and support service. Information processing, data processing, filing and reception services can be provided to all areas of the organisation. . Security and maintenance. These services are essential to the smooth running of the business and to the effective operation of other business functions such as production in particular. . In some businesses, the administration function takes responsibility for important public relations activities such as customer services. The research and development function. The nature of research and development (R&D) varies enormously between
businesses. Traditionally, the term research and development is taken to
refer to scientific research undertaken by firms producing manufactured
goods, high technology products or pharmaceuticals. However, R&D is equally
important to firms providing services. . lower prices . more advanced and sophisticated products . a better image with consumers . a good reputation for advise and after-sales service . reliability in terms of operation and delivery dates Types of research: . basic research . applied research . development The prime function of R&D is to develop new products that can give the firm a competitive edge in the market. This necessary involves the R&D department in close liaison with staff in market research, design and production. Function 1.6: The nature of business activity Functional areas of Tesco plc. The diagram above shows the key functional areas or departments of Tesco,
as one of the leading retailers in the U.K. It is currently the leading
supermarket chain in Britain, with a higher market share than its leading
rivals, Asda-Wallmart, Sainsbury’s and Safeway. The Finance Department, directed by Andrew Higginson, is responsible for
all aspects of finance and audit, and also for European affairs. These
functions are shown in Figure 1.3 in my introductory section. I have no
detailed information on Finance within Tesco other than financial data
available from the Company Accounts and from the Tesco and Bized
websites……… and these are more relevant to a detailed finance study of I have considered each of the major functions of Tesco separately. However,
it is the effective interaction of business functions that is essential to
the success of an organisation in attaining its objectives. . Marketing - responding to the initial enquiry, receiving and processing an order, distributing the product to customer. . Administration – adding the customers details to the IT system, passing on details to other departments within the business. . Finance – investigating the financial status of the customer, offering credit terms if appropriate, invoicing for payment. . Distribution – receiving details of order and meeting the customer’s demands, liasing with marketing over delivery dates, rescheduling other production as required. . Human resources – at a store or warehouse level – ensuring sufficient employees are available to meet the delivery requirements of the order, arranging overtime payments if necessary. Hence these functions help meet the objectives successfully. All Tesco’s organisation structure works as links of a chain, if one link falls down, all the organisation will experience difficulty. For example, most important department of Tesco, I consider, is Distribution department. If this department fails, products will not be delivered to the store, so customers will go to another store. Tesco’s success is built on the good work of each department. |
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