Review of Business Case and Environment of Tesco in Regards to Essay

Review of Business Case and Environment of Tesco in Regards to Training and Development - Essay Example The net profit before tax of Tesco is approximately three billion British Pounds (The Times 100 Business Case Studies, 2012). Business Environment of Tesco In the opinion of Henry 2008, p.6, business organizations face â€Å"a constantly changing external environment and need to ensure that their own internal resources and capabilities are more than sufficient to meet the needs of the external environment†. The SWOT analysis is a suitable framework for identifying strategies to exploit changes in the external environment based on internal strengths of a business organization (Hill & Jones, 2008, p.19). Leigh 2010, p.115, defines the SWOT analysis â€Å"as a process by which a group of stake holders (a) identify internal and external inhibitors and enhancers of performance, (b) analyse those factors based on estimates of their contributions to net value and approximations of their controllability, and (c) decide what future action to take with regard to those factors. SWOT Ana lysis of Tesco Strengths Opportunities Proactive remuneration policy Competitive markets Employee stake in organization Resilient Asian markets Training and development focus Improving American markets Weaknesses Threats Non-standardized application of Recession in European markets HR policies Rising consumer pricing demands Wide range of training needs High employee wage bill (Adapted from Haerifar, 2011, p.12-13). The PESTLE (political, economic, social/cultural, technological, legal and environmental) analysis is suitable way to look at the macro-environment or the â€Å"the set of factors that are not specific to an organization or the industry in which it operates, but that nonetheless affect them† (Haberberg & Rieple, 2008, p.105). The main PESTLE element impinging on employees at Tesco is the economic recession and the slow-if-any recovery. Consequently, Tesco is reducing employee resources outside its headquarters in UK and shifting that work to its Headquarters. Thus , employee staff will need to be trained to take in these new responsibilities likely to be shifted back from overseas operations (Mulligan, 2010). Porter’s Five Forces Model helps to identify competitive forces and their activities in the external environment. According to Hill and Jones, 2008, p.42, Porter’s Five Force Model is made up of â€Å"the risk of entry by potential competitors, the intensity of rivalry among established companies within the industry, the bargaining power of suppliers, the bargaining power of suppliers and the closeness of substitutes to an Industry’s products†. From the perception of human resource management, it is quite likely that competitor’s may choose to use more economical labour from the Eastern European countries to reduce their wage bill in this period of poor economic growth. Tesco will have to factor this possibility in its HR practices (House of Commons Trade and Industry Committee, 2007, p.53). Training an d Development at Tesco The ‘one stop’ shopping experience that Tesco offers its customers means that in addition to a wide range of products, it also offers a wide range of servicers from its outlets to its customers. Hence to cater to this need the work force of Tesco at its outlets needs to be knowledgeable, skilled and flexible (Vance & Paik, 2011, p.219). At Tesco training is provided to its employees that allow them to choose their training towards getting specific retail qualifications to

How to implement the five disciplines Essay Example | Topics and Well Written Essays - 750 words

How to implement the five disciplines - Essay Example Personal mastery is the development of a personal vision to make it a reality. Seeing things objectively and realizing the truth and the reality are important aspects in personal mastery as it develops creative tension that boosts an individual towards his vision. Personal mastery is developing one’s own vision for personal growth and development and for further development of his environment. Mental models are the internal assumptions, generalizations and pictures of the world that influences one’s understanding and actions. The importance of realizing these deeply ingrained assumptions and beliefs is to bring these beliefs and principles into the surface and scrutinize them. This way the individual will understand better their own beliefs and how to balance their beliefs and the beliefs of others. Shared vision is understanding that one’s personal vision can, in some way, be connected to another’s vision. With the development and understanding of a collective thinking, shared vision becomes a commitment on a shared belief rather than compliance in a vision or mission of a group or organization. Team learning is based on group interaction and group communication. This is the capability of group members to understand and be open to one another’s personal visions. Team learning also establishes the importance of dialogue and discussion, through which the gateways of communication and understanding each other and the way to a collective thinking and shared vision can be accomplished. Systems thinking is based on understanding the interrelationships of the structures and patterns that recur. It sees processes rather than a linear cause-effect snapshot of what is happening. It looks at the depth of the situation or scenario based on a conceptual framework that focuses on the cycles and archetypes. Systems thinking is what ties up all