Business and Management
In this task I will explain how aims and objectives of Tesco’s may be achieved through planning and monitoring. Tesco’s is a large organisation; they plan to expand and aim to dominate a good customer service to their customers. Tesco’s plan for the future, and take good control of what is happening on a day to day basis. Objectives are the means by which the business will seek to achieve its aims.
If I take the aim of ‘being environmentally friendly’ then the objectives that can help achieve that might be monitoring levels of waste generated by the business, investing in new technology to help improve efficiency, installing energy saving devices and switching its fleet of vehicles to less polluting fuels. Tesco’s will need to monitor its performance in relation to achieve their goals. Tesco’s try to factor what is happening in society as a whole in its planning.
They reflect to changing trends and fashions in its product range or the service that it offers and if they do not monitor what is happening then it would soon find it self losing competitive advantage. Overall through planning and monitoring they would achieve the aim of offering the latest ranges of products to their customers. Families in general, like to buy low cost products, which therefore tactical pricing is used to attract more customers to shop at Tesco’s.
When other supermarkets use low cost incentives such as “buy one, get one free” and half-price offers, Tesco’s allows its customers to benefit from the same prices, as a tactic to keep the customers shopping at Tesco’s. This tactic temporarily reduces profits but retains customers. Maintaining effective operations is about making sure that everything is in place to carry out all the tasks that Tesco’s needs.
Managers need to make sure that the resources are available so that they could meet the aims and objectives that are set. Maintenance of planning on future planning I have now stated that effective monitoring and planning are essential to Tesco’s. Each of the areas in Tesco’s will carry out the following functions differently. Human resource department: it will be the job of staff to monitor levels of sickness absences, lates, attendances and training days which they need to attend.
Production department: in the production department the role of production manager is to keep costs to a minimum level, monitor wastage, the quality levels, finance – working with budgets, productivity and finally efficiency. Finance department: the finance manager will check spending and ensure that money is spent in the right areas and at the right level. Planning and monitoring is so important that a failure in this area will lead to a unsuccessful business. At the moment Tesco’s is the UK’s number one supermarket.