Sunday, January 26, 2020
General business overview of Tesco
General business overview of Tesco Tesco was founded about 1919 by a person call Jack Cohen in Londons East End. In this year as well he Jack Cohren started was selling groceries in the markets of the East End. After about 5 years the name TESCO started to appear on labels because Jack Cohen brought a large shipment of tea from a company called T.E. Stockwell. Due to this he put the first two letters of the supplier of tea along with the first two letters of his surname and this spelt out TESCO. The first Tesco store opened in 1929 and now it has 1,800 stores just in the UK and its present felt in 12 countries. Tesco now is the largest British retailer, both by global sales and by domestic market share, and the fourth largest retailer in the world behindWal-Mart of the United States, Carrefour of France, and The Home Depot of the United States. Tesco used to only sell food but now it has moved into areas such as clothes, consumer electronics, consumer financial services, selling and renting DVDs, compact discs and music downloads, internet service and consumer telecoms. Tesco over the years is UKs most popular retailer with over 13 million customers a week, number of non food products/services available has gradually increased, Tesco.com is the world largest home delivery service in the world and it is operating in 12 different countries with further expansion in other countries. The reason for all these success mentioned above is all down to one thing, which is the approach taken by Tesco on customer focused. Tesco is unique in this way because many retailers would tend to focus only on profits. However, Tesco as well as making profits would like to create value for customers, to earn their lifetime loyalty. ( Tesco Interim report, 2005) This can be seen in Tesco mission statement and the way this is achieved is through corporate strategy. The corporate strategy of this retailer consist of four parts; UK Core Business, Retail Services, Non-Food and International. It can be seen from the annual report that the profits in eac h of these four strategies have gone up. In the UK Core Business profits went up 14.9% compared with few years back where there was an increase of 12.7% , Retailing Services was  £40 million pounds but now it is  £70 million pounds, Non food was expected market share to only be 6% but it is actually 7% and the operations in overseas market is now in 12 countries. The success of this strategy needs to be broken down in order to provide evidence to show how effective Tesco as been and in what way. 1)      UK Core Business Tesco has got a strong UK Core Business because this is where everything started from and gradually as the years went on the retailer was able to exploit opportunities. This was done through innovation and having the energy in finding ways to expand.                    After five years there were only 728 stores in the UK (Tesco Account Watch, 2002). However, now that numbers has dramatically increased to 1,800 stores (Tesco, 2006) with more then 260,000 employees. From this it can be seen that Tesco idea of expansion was a huge success and this is reflective in the profitability where the sales are  £32.7 billion pounds and the operating profits are  £1.788 million pounds. 2)      Non-Food This is seen as being important for Tesco because in the future they would like be in front of their competitors. This can be seen in an annual report of 2002 where it state that ..in the long term would like to be as strong as it is in food to have 6% market share within the next three years. (Tesco Account Watch, 2002)However Tesco have succeeded the expected market share by gaining a market share of 7%. (Tesco,2006) The main reason why this has gone up is due to the fact that Tesco has been able to offer over 100 new products including CDs, electrical goods, clothes etc at low prices and at good quality. By doing this, it will allow this retailer to keep customer loyalty for a long time as well. 3)      Retailing Services The effective way of implementing this according to Tesco is through joint ventures with major players in the sector they want to operate. Bu doing this it allows Tesco to the ability to contribute it customer base as well as brand strengths to the partnership and vice versa.   This has been done exceptionally well since Tesco were able to follow customer (Tesco Account Watch, 2002) by offering a wide range of products/services not just to existing customers but to new one as well. Tesco offer three things so far; Tesco Personal Finance (TPF), Tesco.com and Tesco telecom. All these have done well with the increase profits of  £70 million pounds for TPF, Tesco.com sales nearly  £1 billion pounds and the telecom is serving over half a million customers. 4)      International The expansion of Tesco overseas first took place in 2004 where it was decided that Central Europe and the Far East would be first to have a Tesco. Since this retailer was so successful in the UK it did not enter the market in the Western European and USA because it was not ready since it didnt know the market, culture, etc. However expanding in Central Europe and Far Eastwas a good choice to start off with because it allowed them to use the best practice suitable for them for developing stores efficiently and at minimum cost. It also allowed them build the store as soon as possible since a range of store formats that can be rolled out quickly as required (Tesco Account Watch, 2002). Ever since the first expansion in 2004 Tesco now is operating in 12 different countries with further expansion going on in Western Europe and in USA. The expansion occurred through six different steps:                                                  1st Being Flexible Approaching market differently since all markets are unique                                                                                                                      2nd Act Local Need to get the attention of the local and build relationship with them as well.                                                                    3rd Keep Focus- It always take time to establish in a market therefore need to always be focus on the tasks in hand.                                                     4th  Be Muli-format Need to be able to adapt a number of different store format since only format will not reach the whole market.                            5th  Develop Capability Need to be able to train people and develop relationship with others and share the information is vital for the chance of success.                                                                                                                   6th Build Brands This allow establishing long relationship with customers. From the above it can be seen that the strategy that Tesco have are very much related to giving customers the best service by offering a range of products at low prices and at different places. By putting all their attention on customers would allow them to exceed expectations in terms of profitability. Tesco Strategy From examining Tesco strategy it can be concluded that Tesco follow deliberate strategy which can de defined as à ¢Ã¢â€š ¬Ã‚ ¦quality of acting intentionallyà ¢Ã¢â€š ¬Ã‚ ¦they think before they do, (Wit Meyer,2004). Tesco follow this strategy because they intend to do something which is realised afterwards. For example one of Tesco strategy is about UK which involves frequent contact with customers and building new stores which meet different customers needs. From these the profitability for the UK has gone up therefore it was realised that this strategy is working well. Similar to this is that the other strategy about international, non food products and services have all seen an increase in the profitability. Tesco tend to have a plan for each strategy which further illustrate that Tesco follow deliberate strategy. When Tesco started off it the strategy was pile it high and sell it cheap. This was unsuccessful and a plan was put together and a new strategy came which was about achieving customers loyalty for a lifetime. This is a success and if the fundamental purpose of Tesco. Tesco on the other hand strategy may fall in the category of emergent strategy. This can be seen from the non food products. Tesco offering telecoms, internet etc falls here because the opportunities were there which needed to be exploited. Similar to this is that if Tesco did not take these opportunities with both hands the threat was that other supermarkets would take full advantage of this. Also a threat was that if a competitor does something the supermarket must follow to remain competitive (Elsevier bookshop, 2006). Overall the approach taken by Tesco is a rational planning approach. The reason for this is because Tesco knows the direction it went to go, the main purpose of the business is known and the objectives are established. All these are done differently through different analysis such as External/Internal environment, assessing current position etc. Financial Analysis Profitability Ratios The following ratios compare Tesco Store Plc and WM Morrsions Supermarkets PLC. Return on Investment Tesco Plc WM Morrisons Supernmarkets PLC 20.08% (Anuual Report 2006) 5.55% (Annual report, 2006) The above ratio shows how management use the company assets to generate revenue. In the above ratio it can be seen that Tesco Plc, 20.08% earning are much higher compared to WM Morrisons Supermarket PLC which is 5.55%. Due to the big gap between these two companies it clearly shows that Tescos operational management is more efficiently making full use of the companys asset to generate more sales. Gross Profit Tesco Plc WM Morrsions Supermarkets PLC 7.7% (Annual report, 2006) 24.58% (Fame-analysis) The above ratio is an important measurement in terms of profitability since it basically measures the trading effectiveness and basic profit earning capability of a company. From the above ratio it quite strange that WM Morrsions Supermarkets PLC ratio is much better in comparison with Tesco Stores PLC. Therefore it shows that the production and distribution efficiency of WM Morrisons Supermarket PLC that it manages to earn a greater percentage of gross profit than Tesco Stores PLC. Net Profit Ratio Tesco Plc WM Morrisons Supermarkets plc 5.7% (Annual report, 2006) 2.6% (Fame-analysis) This figure above shows the companies profit after taking all the expenses off and other costs as well from the gross profit. Tesco PLC net ratio is 5.7% whereas WM Morrisons Supermarket PLC is 2.6%. Investment Ratio Earning per Share (EPS) Tesco Plc WM Morrisons Supermarkets plc 20.07p (Annual report,2006) 9.46p (Annual report 2006) The investment in a company tend to be made in stocks/shares therefore the above ratio is essential in the assessing the market value of the companys shares. Tescos share is much greater than WM Morrisons Supermarkets Plc therefore it can offer more to its stockholders. The above figures were taken from annual reports 2006. Also the above shows that investors have trust in Tesco using the money is used to it full capacity. Dividend Yield Tesco Plc WM Morrisons Supermarkets plc 1.98% (Annual report 2006) 1.23% (Annual report 2006) Just like mentioned above this ratio also allows investors to assess the investment potential in a companys shares. Tesco offer greater dividend yield therefore investors will be interested in this company rather than WM Morriosns Supermarkets. It also shows that investors would be more attracted to Tesco and not to WM Morrisons Supermarkets. Dividend Cover Tesco Plc WM Morrisons Supermarkets plc 2 times (Annual report, 2006) The Dividend Cover ratio shows how many times the ordinary dividend could be paid out of current earnings. In the case of Tesco it is paying our half of its earning as ordinary dividend. Liquid Ratios Current Ratio Tesco Plc WM Morrisons Supermarkets plc 1.09:1 (Annual Report 2006) 0.45:1 (Fame analysis) The current assets are required to meet the companys debt as they are due. The above ratio indicates this relationship especially for both supermarkets. It shows that both companies are able to turnaround stock into cash. However, from the above figures it shows that Tesco are much better prospects for lenders as compared to WM Morrisons Supermarkets whose current assets are less than current liabilities. Acid Test Ratio Tesco Plc WM Morrisons Supermarkets plc 0.68:1 (Annual report-2006) 0.23:1(Fame Analysis) The above ratio is used to compare the current asset without the stock with current liabilities. The ratio itself does not actually provide any assurance that both these companies will meet futures payments. Due to this both the above ratio show the level of stock each company holds because has retailers they are expected to keep certain amount of stocks. Efficiency Ratio Stock Turnover Ratio Tesco Plc WM Morrisons Supermarkets plc 25 times (Annual report, 2006) 30 times (FAME- analysis) The Stock Turnover Ratio shows the average amount of times stock is held before being sold. Since Tesco is big it is expected that stock would be sold more quickly than compared to WM Morrsions Supermarkets PLC. Fixed assets turnover ratio Tesco Plc WM Morrisons Supermarkets plc 2.12 (Annual report, 2006) 1.83 (FAME- analysis) Fixed asset enable a company to function more efficiency therefore with Tesco having a high fixed asset ratio compared with WM Morrions Supermarkets are able to generate more sales. Trade debtor collection period Tesco Plc WM Morrisons Supermarkets plc 0 days (Fame analysis) 2.53 days (Fame- analysis) The ratio is about debtor and this is the time taken to receive a payment from customers. Tesco get the money straight away with no problems whereas WM Morrsions Supermarkets PLC tends to get the money after couple of days. This may be down to Morrisons having a policy where it takes cheques a couple of day to be cleared or other policies related to cash. Trade creditor payment period Tesco Plc WM Morrisons Supermarkets plc 26.60 days (FAME ANALYSIS) 36.24 days (Fame-analysis) This shows that it takes on average a month for a supermarket to pay back to creditors. Tesco are able to do this quicker than Morrisons because of it ability to turn stock into cash very quickly. All the above refer to Appendix 1 which is related to Tesco, Appendix 2 which is related to WM Morrison and Appendix 3 which is related to calculations. Value Chain Analysis The Primary Activities Within the primary activities it can be seen that a key element of Tescos strategy is to have a relationship with suppliers which is quick and cost effective. The reason for this is due to the fact that ..the greater the number of participants, the greater the synergy opportunities and the greater the change of leveraging action within the logistics and network services provider community. (Fernie Sparks, 1999) By having a strong relationship with suppliers will enable Tesco to exchange information with suppliers which will result in having a greater opportunity to adapt to the changing environment. The approach taken by Tesco is an important aspect especially achieving competitive advantage. However, Tesco should do it not only with cost in mind but bearing in mind that the highest quality goods are produced more quickly and efficiently. The transformation of its distribution operations has over the part 10 years seen the introduction of Tesco own brands which m ean that these goods will stay in Tescos control longer than other goods.  The decisions of management along with the introduction of effective technology such as software and IT systems, laser scanning which automatically re-orders goods, have all helped Tesco to position itself in the market place. One of the reasons for Tesco success is due to technology in all parts of the business because technology has a powerful effect on competitive advantage in either cost or differentiation. (Porter, 1998) Tesco work very closely with suppliers to extend growing seasons for particular crops like strawberry which is available throughout the year. In this situation Tesco do depend on the suppliers making the crops during the year. However, in the longer period Tesco will be able to save costs. By extending growing season there is a lower dependency on the warehouse and JIT production of goods. The need to work closely with suppliers and transport services is critical and using local producers wherever possible results in Tesco dealing with a number of companies and according to Christopher,1998 effective logistics management can provide a major source of competitive advantage a position of enduring superiority over competitors in terms of customer preference. The main thing is being innovative and looking at how to improve things constantly as well as considering the environment impact of its action. This again will reinforce the competitive position as Porter, 1998 suggested companies achieve competitive advantage through act of innovation. It is very difficult for a supermarket like Tesco to produce the same success again therefore Tesco must continue to re -invent itself to stay ahead in this market. The Supporting Activities The companys infrastructure is based on decisions of management which help communication and control. Support functions such as accounting, administration, public relation and marketing. There are many people who deal with investigation and sourcing products for example, for non food products there are over 100 people. Tesco employs over 260,000 people, (Tesco, 2006) which is a huge cost especially in terms of minimum wage. The other costs which are involved are recruitment, training and development. Other things such as planning, public affairs, quality assurance are all time consuming. Technology development is important because it allows Tesco to be able to adapt to its changing environment. Tesco on line shopping is a huge success along with other things like financial service, mobile phone, clothes and electrical goods. Tesco recognizes regional differences when it comes to procurement. They have established dedicated buying teams In the UK.  Tesco have also made arrangements not only with large producers or manufacturers of goods, but also individual farmers. Their Fairtrade policy ( Tesco CR , 2006) ensures that the farmers receive a fair price and that consumers pay a fair price. Long term relationships with suppliers are important, with over 1500 suppliers working with Tesco for five years. Tesco works with suppliers and encourages them to develop regional offices in line with Tescos own distribution centres. In Tecso it can be seen that the value chain for competing in a particular industry is embedded in larger streams of activities.. (Porter, 1998). The primary activities for Tesco can be seen in Appendix 4 and the supporting activities can be seen in Appendix 5. PESTLE Analysis Political There are many external influences which affect Tesco like local business taxes as well as government introducing taxes on different products. When Tesco decide to build new stores it will not be straight forward to do because the local and regional planning policy is extremely costly and time consuming. Complying with government legislations is a must for Tesco since it relates to food hygiene, employment, health and safety.  Tesco is also under the pressure on a number of different issues. For example Friend of the Earth who believe that Tesco is using every trick in the book to dominate the retail market and coerce local authorities. ( Friend of the Earth, 2006)  and also from something call Tescopoly. Tescopoly is to challenge the negative impacts of Tescos behaviour along its supply chains both in the UK and internationally, on small businesses, on communities and the environment (Tescopoly, 1995) It also makes sure that the products are made from rec ycle items and protecting the environment is the key. Environment This is a major focus not just for Tesco but for all businesses in the UK as well as overseas. The issue of global warming and climate change affects everyone. Tesco is addressing the issue by minimizing waste and recycling, by rewarding customers for re using bags (Tesco Report, 2006). They have also spent over  £100m on a range of products from wind turbines to gasification plants. Another thing Tesco is trying to do is reduce energy consumption (Tesco Report, 2006) with the introduction of improved heating and ventilation systems. Social The social impact of opening new stores is immense. By opening new stores Tesco are creating new employments for many people and also they are using local suppliers rather then getting suppliers from different part of the UK. Tesco is a very dedicated supermarket which always gives money to a charity every year. It also encourages healthy eating with their healthy option menus therefore encouraging the nation to get healthier and fitter combined with charitable activities like the Race for Life. (Tesco corporate, 2007) Technology Technology has improved massively over the years and it has dramatically affected Tesco. By introducing on line shopping, improved refrigeration techniques, sophisticated software for monitoring customer loyalty shoppers and their buyers pattern and new services being offered have all together improved customer service, reducing costs and sustaining competitive advantage. Legal The main legal issue here is related to what was mentioned above. Since the introduction of new products/services there is a chance of customers being exposed to credit card fraud.   The legal department within Tesco is kept busy with the need to respond to customer complaints and compensation claims, such as the recent fuel issues. Another thing is complying with any rules or regulations which are set out from the government to the Competition commission. Economic The main issues which have been talked about recently are fuel costs, congestion or mileage charges will also affect Tesco profitability. On the other hand some positives can be taken for example charitable donations made by Tesco to local and regional areas. Tesco by using local suppliers will also have an impact on the economy.   Tesco is promising lower prices (Tesco Report, 2006) because it want to provide a range of products which are of high quality to all customers especially those families with low income. The PESTLE Analysis for Tesco can be seen in Appendix 6 Porters Five Forces Model Competitive Rivalry The supermarket industry is high competitive in the UK with four supermarkets dominating the market; Tesco, Asda, Sainsbury and Morrisons. This market has never been more ferocious in the battle to capture the customers loyalty (Bevan, 2005). The one which is leading the other supermarkets in the UK is Tesco with 32% market share (Wekepedia, 2005) whilst the rest of the supermarkets have each got less then 20% markets share. The competitive rivalry in the UK is not based on the types of products sold because all supermarkets sell the same products. However, the rivalry is based on pricing and value for money (Seth Randell, 2001). The use of technology allows this market to be more competitive because the use of technology allows a number of advantages including quicker way to speed up stock replenishment. For example in Tesco they use Electronic Point Of Sale (EPOS) not just for checkout but for a range of things like fully integrated accounting, inventory management, open to buy forecasting, customer relation management (CRM), service management, rental, and payroll modules. (Thompson,2003). Another thing which Tesco also use is EDI(Electronic Data Interchange ) which is a set of standards for structuring information to be electronically exchanged between and within businesses, organizations, government entities and other groups. Other supermarkets use the above as well but the way Tesco use this is why Tesco is the largest supermarket in the UK. The competitve rivalry may get evenmore tense if for example other global competitors like Carrefour decide to come into the UK market by acquisition of weaker companies. Threat of new entrants Since the UK industry is dominated by four major supermarkets the threat of new entrants is high. This is due to enconomies of scale in terms of shopping area and length of distribution channels. These two are important factors especially in the UK however, the cost of these two are very high and a new entrant would suffer. Similar to this is that new entrant have limited access to distribution channels in the UK because the supermarkets have already got control of these. Another problem for a new entrant is that it will be difficult to achieve cost adavntage. The reason for this is due to the fact that the four major supermarkets in the UK have occurred cost advantage through continually development in studying customers (buying patterns, money spent etc) and competitors. The important part is regard to building relationship with suppiers and customers because it takes time to gain someone trust. Due to this trying to change customers brand loyalty is ver y difficult to achieve. The main problem for Tesco and other supermarkets is related to the fact that large european supermarkets may decide to set up stores in the UK. This can be seen from Lidl which is a German company which has got a number of stores opened in the UK. Threat of substitute In the UK alone there many substitutes because a lot of small stores like newsagent, local shops, etc sell the same products like supermarkets but the difference is that these small stores can offer discounts. Due to this it is said that supermarkets are vulnerable. One of the reason for supermarkets being vulnerable is about discounts and the other reason is that small stores can steal customers from supermarkets. For example Argos- The Catalogue Shop can get a percentage of customers from the supermarkets from under their noses. This is done by offering customers the chance to have catalogue delivered to their doors and collection of orders by post, telephone or internet. For some supermarkets this is a problem but for Tesco it is not. The reason for this is that Tesco has a number of different stores opened across the whole UK and offers a range of products includind non food products through the internet at reasonable prices. (Tesco direct,2006). By offeri ng non food products Tesco is in competition with Argos as well as Currys and Comet over electrical goods. From this it can be seen that Tesco are being tuff because they want to be the best in all departments. Bargaining power of buyers In the UK the bargaining power buyers is strong especially for supermarkets in the UK since the buyers are the customers. The power of these buyers is high because of the availability of several alternatives. The switching cost from one to the other is low because if a customer is not happy he/she can go to the other supermarkets. For the supermarkets Asda, Morrisons and Sainsbury this is true but for Tesco it is not since it is the other way around, Tesco are able to influence the buyers. Tesco are able to do this by having different stores Express, Metro etc in the UK all different to one another. Porters five forces model for Tesco can be seen in Appendix 7 SWOT ANALYSIS Strengths Tesco is the UK is a well established and recognised retail brand in the UK offering a range of products and services from food to non food items. Tesco has grown in the four areas it wanted to grow with a 7% market share in the non food items. They provide fresh food at great value with many special offers being made each week. They support fair trade and local products with over 7000 products being supplied in the UK. The culture of Tesco is important to its success. Also the focuses on people, from the customers to the staff are essential for the smooth running of the organisation. Weaknesses Tesco just like many businesses in the UK will have problems which need to be overcome. Since Tesco is big it has 260,000 employees which would result in Tecso paying a lot of money in term of wages and also training and development. Also costs related to sickness and absenteeism will also affect Tesco. Similar to this is that ..80% of group sales come from UK (Tesco, 2006) and could be more globally focused. Another weakness is that increase in the cost of fuel may result in loss of profitability and also an increase in the local business taxes will be bad. Opportunities The opportunities existing for Tesco is further product introduction more opticians and pharmacies into the stores. There also opportunities for Tesco to expand and increase market share. Since Tesco is very popular in the UK and should turn their focus on the international market. The acquisition or merger of a competitor would provide SYNERGY in terms of cost reduction, improved productivity, expanded range of products, although it may well be that because of Tecso dominant position in the market already the commission may not agree to such development. Threat The current problem which has occurred over the last few weeks was related to problem with the fuel since it was claimed that it is contaminated. Due to this poor quality fuel may be suppl
Saturday, January 18, 2020
Fons Trompenaars’ Four Types of Corporate Culture Essay
Guided Missile – a project-oriented approach; concerned with results. This group looks for practical solutions to shared challenges via multi-disciplinary teams. The U.K. and U.S. fit into this group. Familial – this is a power-oriented model in which a ‘family’ approach is taken. Power comes from high but is well known and there is a deep concern for all members. Japan and Belgium fit into this model. Eiffel Tower – a role-oriented group in which hierarchy is important; top-down management style. To manage change, the business would have to change rules and procedures. France and Germany score high in this model. Incubator – fulfillment-oriented group who see all members as ‘co-creators’. A relatively egalitarian structure in which individuals are given the freedom to improvise. Silicon Valley is a good example of where this has worked to great effect. Trompenaars and Hampden-Turner: Seven Cultural Dimensions 1. UNIVERSALISM versus PLURALISM â€Å"What is more important – rules or relationships?†The degree of importance a culture assigns to either the law or to personal relationships. In a universalistic culture, people share the belief that general rules, codes, values and standards take precedence over the needs and claims of friends and other relationships. In a pluralistic culture, people see culture in terms of human friendship and intimate relationships. While rules do exist in a pluralistic culture, they merely codify how people relate to one another. 2. INDIVIDUALISM versus COMMUNITARISNISM â€Å"Do we function as a group or as individuals?†The degree to which people see themselves function more as a community or more as individuals. In a principally individualistic culture, people place the individual before the community. This means that individual happiness, fulfillment and welfare prevails and people take their own initiative and take care of themselves. In a principally communitarian culture, people place the community before the individual. Thus, it is the responsibility of the individual to act in ways which serve society. In doing so, individual needs are automatically attended. 3. SPECIFIC versus DIFFUSE â€Å"How far do we get involved?†The degree to which responsibility is specifically assigned or is diffusely accepted. In a specific culture, people first analyse the elements individually and then put them together, the whole is the sum of its parts. People’s lives are divided accordingly and, only a single component can be entered at a time. Interactions between people are very well-defined. Specific individuals concentrate on hard facts, standards and contracts. A diffusely oriented culture starts with the whole and sees individual elements from the perspective of the total. All elements are related to one another. Relationships between elements are more important than individual elements. 4. AFFECTIVITY versus NEUTRALITY â€Å"Do we display our emotions?†The degree to which individuals display their emotions. In an affective culture, people display their emotions and it is not deemed necessary to hide feelings. However, in a neut ral culture, people are taught not to display their feelings overtly. The degree to which feelings become manifested is therefore minimal. While emotions are felt, they are controlled. 5. INNER DIRECTED versus OUTER DIRECTED â€Å"Do we control our environment or work with it?†The degree to which individuals believe the environment can be controlled versus believing that the environment controls them. In an inner-directed culture, people have a mechanistic view of nature; nature is complex but can be controlled with the right expertise. People believe that humans can dominate nature, if they make the effort. In an outer-directed culture, people have an organic view of nature. Mankind is viewed as one of nature’s forces and should therefore live in harmony with the environment. People therefore adapt themselves to external circumstances. 6. ACHIEVED STATUS versus ASCRIBED STATUS â€Å"Do we have to prove ourselves to receive status or is it given to us?†The degree to which individuals must prove themselves to receive status versus status simply given to them. In a culture with achieved status, people derive their status from what they have accomplished. Achieved status must be proven time and time again and status will be given accordingly. In a culture with ascribed status, people derive their status from birth, age, gender or wealth. Here status is not based on achievement but it is accorded on the basis of the person’s being. 7. SEQUENTIAL TIME versus SYNCHRONIC TIME â€Å"Do we do things one at a time or several things at once?†The degree to which individuals do things one at a time versus several things at once. Cultures developed their own response to time. Time orientation has two aspects: the relative importance cultures assign to the past, present and future, and their approach to structuring time. In a sequential culture, people structure time sequentially and do things one at a time. In a synchronic time culture, people do several things at once, believing time is flexible and intangible. http://www.provenmodels.com/580/seven-dimensions-of-culture/charles-hampden-turner–fons-trompenaars/ Geert Hofstede’s Six Cultural Dimensions The research of Geert Hofstede has shown that cultural differences between nations are especially found on the deepest level; i.e. on the level of values. In comparison, cultural differences among organizations are especially identified on the level of practices. Practices are more tangible than values. Means Oriented vs Goal Oriented The means oriented versus goal-oriented dimension is, among the six dimensions, most closely connected with the effectiveness of the organization. In a means oriented culture the key feature is the way in which work has to be carried out; people identify with the â€Å"how†. In a goal oriented culture employees are primarily out to achieve specific internal goals or results, even if these involve substantial risks; people identify with the â€Å"what†. In a very means oriented culture people perceive themselves as avoiding risks and making only a limited effort in their jobs, while each workday is pretty much the same. In a very goal oriented culture, the employees are primarily out to achieve specific internal goals or results, even if these involve substantial risks. Local vs Professional In a local company employees identify with the boss and/or the unit in which one works. In a professional organization the identity of an employee is determined by his profession and/or the content of the job. In a very local culture employees are very short term directed, they are internally focused and there is strong social control to be like everybody else. In a very professional culture it is the reverse Internally Driven vs Externally Driven In a very internally driven culture employees perceive their task towards the outside world as totally given, based on the idea that business ethics and honesty matters most and that they know best what is good for the customer and the world at large. In a very externally driven culture the only emphasis is on meeting the customer’s requirements; results are most important and a pragmatic rather than an ethical attitude prevails. This dimension is distinguishable from means versus goal orientation because in this case it is not impersonal results that are at stake, but the satisfaction of the customer, client or commissioning party Open System vs Closed System This dimension relates to the accessibility of an organization. In a very open culture newcomers are made immediately welcome, one is open both to insiders and outsiders, and it is believed that almost anyone would fit in the organization. In a very closed organization it is the reverse Easy Going Work Discipline vs Strict Work Discipline This dimension refers to the amount of internal structuring, control and discipline. A very easy-going culture reveals loose internal structure, a lack of predictability, and little control and discipline; there is a lot of improvisation and surprises. A very strict work discipline reveals the reverse. People are very cost conscious, punctual and serious Employee Oriented vs Work Oriented This aspect of the culture is most related to the management philosophy per se. In very employee oriented organizations members of staff feel that personal problems are taken into account and that the organization takes responsibility for the welfare of its employees, even if this is at the expense of the work. In very work oriented organizations there is heavy pressure to perform the task even if this is at the expense of employees. http://geert-hofstede.com/index.php
Friday, January 10, 2020
Mr Taha Uppal
Strategies towards betterment for team management The research will be based on the following questions: How can we eliminate the harmful factors of staff management I. E performance appraisal? How can the employee's play an important part for the organizational success? What are the feedbacks usually received by the employer? 1. 1 INTRODUCTION TO MARKS AND SPENCER: Marks and Spencer also popularly known as M is British based clothing and food retailer headquartered in the city of Westminster, London, United Kingdom.It has more than 700 outlets located all over the United Kingdom while 300+ stores are coated all over the world. Most of them are located in the European countries, like Hungary, Greece, Czech Republic and Romania etc. Marks & Spencer is also trying to expand in the Asian markets with quite a few stores opening in India and China recently. Michael Marks and Thomas Spencer founded M in the year 1884 in a city of England, Leeds.According to BBC news, Marks and Spencer is d oing better in their food department as compared to their general merchandise as the turnover is split in 54% and 46% respectively. Marks and Spencer aims to provide a very high quality DOD to their customers, that is why, it is one of the most successful food retailers in the United Kingdom. The well known brands, which sell their products with the brand name M are Autograph, Indigo collection, Classic collection, Collection and lastly blue harbor. 1. INTRODUCTION TO PERFORMANCE APPRAISAL: Performance appraisal or performance review is an analysis of an employee's work habits undertaken at a fixed point in time to determine the degree to which stated objectives and expectations have been reached. Performance appraisal or review is very beneficial and important for the evaluation of the staff and of course for the effective management. Appraisals are of great help regarding organization's employee and also play a vital role in improving organizational performances.Formal performance appraisals are conducted every year normally in the last half of the year to review how the organization is performing and what strategies should be undertaken to improve the organizations performance. It is a straight line process for example the staff is appraised by their managers, the managers are appraised by the directors, and the directors are appraised by the Coo's who are generally appraised by the founder or the chairman of the company. 2. 1 TYPES OF PERFORMANCE APPRAISAL: The different types of performance appraisals are formal annual performance appraisals, handwriting analysis, skill or Job related tests, informal one to one review discussions, probationary reviews, survey of opinion of others who have been dealing with the staff, counseling meetings, observation on the Job and assessment centers including observed group exercises and test presentations. 1. 2. PERFORMANCE APPRAISAL PROCESS: Performance appraisal is a process which takes place quarterly or yearly and is the process of interaction between the employees and their managers. In this process the performance of the employee is assessed, with the manager telling or describing the employees their weaknesses and strengths and also identifying the opportunities that how can the employee improve their performance within the organization. Performance appraisal is the least liked responsibility any manager has to perform.The first step which comes in performance appraisal is review preparation. In this process the manager makes the objectives that the organization wants to meet in the future. An analysis of the employees is then taken out because employees or individuals must know what the organization is expecting from them and how they can work to achieve the objectives stated by the firm. Step two in performance appraisal is the assessment. This step is all about giving the timely feedback as it has proved to be very beneficial for the organization.For instance if an employee works well to achieve an objective, the positive feedback should be given to them as soon as possible rather than waiting for weeks to let them know as it might have a negative effect on their confidence as well as performance level. Step three is reviewing communication. This is all about reviewing the past and the current performance of the employee and if the performance is not up to the mark the manager should politely explain them that what should be done to improve their performance. Step four in the process is appropriate setting.Make sure that the atmosphere where the manager is going to deliver the appraisal is very friendly and welcoming. No threats should be given to the employee as this might De-motivate them and as a result they may not be able to perform 100%. Step five in the process is delivering, for instance it Leary explains the appraisal in simple language as the usage of the code words or difficult words might make it difficult for them (staff or employee) to understand it pr operly and they may have confusion which might proved to be harmful for the employee and also for the organization.The final step in this process is encouragement. At the end of the process the manager's responsibility is to encourage the employee and boost their confidence by adding words like we have faith in you or we trust your abilities or you are capable. CHAPTER 2: LITERATURE REVIEW 2. 0 INTRODUCTION In this chapter the past and the current strategies of Marks & Spencer will be discussed and in the end of this chapter we will also give a brief explanation about how employer can improve their Performance appraisal (PA) process.There will also be discussions on the employees and the manager roles that how can they contribute for a better service and reputation of the organization. First of all we will talk about the staff management strategies of Marks & Spencer for instance, how they benefited from those strategies, what were the drawbacks of those strategies and what did Mark s & Spencer did to solve those issues or problems arising by implementing those strategies.Performance appraisal helps in evaluating the employee's performance as it gives a clear light on how an employee can improve their performance and skills. However, performance appraisal in depth will be discussed this chapter. 2. 1 THE EVOLUTION OF PERFORMANCE APPRAISAL: Sometime near World War 1, (WAD Scott) has the credit to present the world with what performance appraisal is. However, performance appraisal was known by the mid asses and became very popular in the organization or companies.McGregor (1957) also played a vital role in discussing about performance appraisal in sass's and ass's. It's a process by which the individual tries to look in the future with some valuable assumptions and to plan what should be done in the future to meet their goals. Performance appraisal helps in goal setting. In the year 1970, this process of performance appraisal became more widespread and many of th e firms started using this process in order to gain success however, by practicing this process a large number of legal cases were brought.In the years sass's and sass's the process of performance appraisal became very popular and according to Williams (1998) it improved the performance up to a certain extent and also generated motivation which is very useful for an organization. According to Fletcher (2008), performance appraisal is conducted differently in the Western and the Asian cultures however; both of these cultures use this process and are benefiting from it despite the fact that around 90% or more staff doesn't like this process. 2. 2 WHY IS PERFORMANCE APPRAISAL SO NECESSARY?Questions like why performance appraisal is used in companies when it did not exist in the past and the companies were still doing great? Why is it so important to use performance appraisal? Can't an organization run efficiently and effectively without the performance appraisal system? Weiss and Buckl ey (1998) tried to give an answer for this by stating that performance appraisal is very useful because it gives an idea to the employees how can they improve their performance and also this process helps in rising their commitment towards their organization.There is great importance of performance appraisal within the firm. The organization whether small or big, private or government or any other type of firm should be exempt from having a formal performance appraisal (PA) program. PA process has benefits like improved immunization within the firm, addressing the problem and tries to resolve them through this process of PA and gives the employee confidence and boosts their morale.However, while planning performance appraisal process the employer should bear in mind that it is a slow and time consuming process and there might be some obstacles during the process which for some time may make this process even slower than expected. We can see the companies who have introduced this pro cess of performance appraisal are the ones who do the most business in their respected fields such as Ezra, Louis Button, Marks & Spencer, Gucci, Hugo Boss etc.When employees know that they are an important part of an organization and all their suggestions or ideas are valuable they even work harder so that they can get promotions or there may be an increase in their salaries and this can only be done by performance appraisal process. PA process not only identifies the training needs within an organization or firm but also identifies the hidden talent which may have a very positive effect on the firm's reputation.For instance if the staff is highly trained they are in a better position to deal with all their customers which plays a very positive role towards the success of an organization. . 3 PURPOSE OF PERFORMANCE APPRAISAL: The most effective purpose to use performance appraisal is to improve the performance of the employees who are working for an organization. There are two most important purposes for which the performance appraisal is used one of which is maintenance of organization control and secondly to measure the efficiency with which the company's human resources are being used. Cummings 1973) however, there are other purposes of performance appraisal as well for instance it helps in improving the morale of the employees working for the organization, more importantly also identifying when does the staff or employees need training, communication improvements, counseling and setting targets which the organization aims to meet (Britton and Gold 2003-04). As discussed above performance appraisal is used to determine the strengths and weaknesses off the employees and providing them with the best training in order for them to give their best at work.However, by conducting the performance appraisal process both the organizations and the employees have advantages for example McGregor (1972) in his paper ‘An uneasy look at performance appraisal' stated that performance appraisal meets the needs of OTOH the employees and the organization however, the difference is it meets three needs in total one for which is organization and the other two for the employees or the individual. Bowels and Coats (1993) conducted a survey which was sent to 250 West midland companies in the year 1992, where the organization were asked the question on the effectiveness of performance appraisal in the organization.However, in the results they found out that the performance appraisal plays an effective role to improve the communication skills of the employees and also improves the communication between the employees and the employer which has many benefits costly in favor of the organization. On the other hand it was very useful for when and how the training is needed for a number of employees to improve their skills. However, around 90% of the employees did not favor the performance appraisal process and commented it has certainly no use and is time was ting.Many organizations want to become the best in productivity or simply want to produce more and quality products so in order to achieve all of these objectives organizations choose and introduce performance appraisal process within the organization as this is the most successful way of achieving goals such as higher productivity or lean reduction. This process of performance appraisal gives a clear direction that where the organization is heading towards or what are the goals the organization or the firm.As discussed before, it not only measures a firm's employee's performance but also gives a clear picture of an organization's performance. The example to illustrate this is performance appraisal measures the work done by the employees and also the organization on a weekly or quarterly basis. An organization can have all the information of their employees and their productivity by using this process. Another useful purpose of performance appraisal is that it gives a clear picture to the employees that where do they stand and what are they supposed to do in order to improve their skills and position within the organization.This way the organization can have a full advantage of their work force because if their employees need training, they train them and as a result the work force becomes very useful and experienced which in the long run is very beneficial for the organization as well as the employees. 2. 4 BEHAVIOR MAINTENANCE MODEL (CUMMINGS AND SWABS): The IBM model which was presented by Cummings and Swabs attempts to show owe the employees are motivated and opt to perform well within the organization.In their model they tried to explain the IBM model in four different steps. The first step in this model is goal aspirations which lead to goal attainment. When the goal attainment is achieved by the employee it gives them a sense of Job satisfaction and they become more focused on their Job and try to work even more hard. However, when the employee is satis fied with their Job they become automatically motivated towards their work which is very effective for the organization. 2. A BRIEF EXPLANATION OF PERFORMANCE APPRAISAL IN MARKS AND SPENCER: performance appraisal give Marks & Spencer all the required information about their employees as it helps M&S to help improve their skills through training and making sure that they are capable enough for the Job they are being trained for. As most of the big companies or retailers conduct performance appraisal once or twice every year, Marks & Spencer is also one of the British companies known for conducting performance appraisal twice every year.In this process the employees get feedback from their managers about their performance and if the performance of the employees is not up to the mark they are suggested with different strategies to adopt n order to improve their performance as it is believed that the employees play the most important part in an organization's success and thus are the mo st important and effective assets of any organization like Marks & Spencer. The performance records are encouraged to use by the employees as it plays an important factor in setting up the personal objectives that support their continued development.Whenever an appraisal system is carried out at Marks & Spencer (normally takes every 12 months to conduct an appraisal) discussions are being made about the current progress of the company as well as the employees and a lot of new ideas are narrated about how to improve the concerned areas within the organization. These meetings are always done by the managers who work in M regarding their employees and are kept confidential. If any of the employees or workers at M do not perform well they are given more training and make sure that they understand how the organization works and operates.Rewards are given to the employees who prove that they are working best and the organization is benefiting from their efforts which are being put in. For instance in Marks and Spencer if the sales exceed the expected number or are higher than expected all the employees are given a bonus and also receive a bonus gift voucher of 20% which in fact plays a vital role in staff motivation. Also according to the research on motivation conducted by Frederic Taylor money is the only motivator and the only reason due to which the employees work hard to achieve their and the organization's objectives they work for.According to Taylor â€Å"If the workers were paved per item made, they would want to make more and work harder. †Marks and Spencer uses Tailor's theory by providing their employees or staff with handsome salaries as they think to keep the staff motivated paying them with bonuses and retreating them with some discount cards would be beneficial for the organization and as the staff will put in their efforts to make M a success by providing their customers a better service and by creating a friendly atmosphere in the stores whi ch obviously every customer likes.On the other hand, M also uses Herbage's two factor theory by paying them with handsome salaries but more important to note according to Herbage's theory is that M make their employees feel special and important in the business as the upper management ask for suggestion from all the employees and also providing them with the best working environment to motivate hem.As seen in the table below Marks and Spencer has got the highest reputation in the recent years as compared to their rivals such as Sad, tests, Morison, Ginsburg and Waitress and that's only done with the fair and proper selection of the employees for the Jobs through interviews and as well as the tests. By going through the process M&S makes sure that the right candidate is selected for the Job and the organization can benefit from them. 2. STRATEGIES THAT MARKS AND SPENCER USED IN THE PAST: Marks and Spencer in the past have tried a lot of strategies to improve their staff performance. The strategy which Marks and Spencer used in the past was to sell its products on discounted prices or higher sales which at one point gave rise to the sales but on the other hand when people realized the clothes designs are the same and not changing their sales fell dramatically. M&S did not emphasize on innovation but they tried to grab shopper's attention by advertising and give them great deals and high discounts on their products.Another strategy that M favored was expansion overseas as the top management thought it's the biggest opportunity to expand abroad because in that way M&S will see a rise in their sales. The main focus f M&S was to target the European markets specially Germany because in the recent years the population of Germany increased from 65 million to 80 million and also is the biggest exporter after USA with a lot of potential and industrial strength.However, firstly M&S planned to expand in Germany in the asses but later dropped this strategy because the prope rty costs were too high at that time but the main reason to drop this strategy was the recession of the German economy in asses. However in the late in asses the market position of Germany looked attractive and impressive which therefore forced M&S to expand in to the German market. Marks and Spencer also played a vital role regarding waste as an estimate states that the waste all over the United Kingdom is around 400 tones which comes from different parts of the industry such as construction, households or discharged packaging.The waste that comes out is not recycled properly and the result is landfill sites which takes many years to decompose and is also very harmful for the human health. However, the strategy that Marks and Spencer put emphasis on is that in the recent years 2010-2011 they have tried to achieve a recycle rate around 90% and also they have tried and achieved the reduction in waste by around 20%. Marks and Spencer in the year 2006-7 had 133 million clothes hangers and instead of throwing or recycling them the company used around 80% of the hangers again. 2. . 1 OPPORTUNITIES FOR IN THE GERMAN MARKET: M&S focused on expanding in the German market because the GAP of Germany is about three times higher than the United Kingdom with a staggering El 5000 billion. German consumer has a 50% higher expenditure than the Auk's market also 22% higher than France which is the second biggest market in the Europe. Inflation rate is under 2% in the Germany which attracted the Marks and Spencer management the cost to expand in the German market with expectation of higher sales which M was lacking in the United Kingdom.According to the research conducted by the well known news channels CNN and BBC M had examined the customers need in Germany for instance what exactly did the customer want and catered accordingly. 2. 7 MARKS & SPENCER CURRENT STRATEGIES: The current aim of M is to become the world's most sustainable brand by the year 201 5 and for that they are following a plan called plan A. The plan A consist about many things about how to make world a better place to live with a few things which ops the list in plan A are cut carbon emissions, reduce waste and importance on health and well being.As the world is getting more educated day by day which means people are aware of what should be done to make this planet a better place to live in and also become very conscious about environmental and also for the natural issues. This is the reason for which M&S launched plan A in the year 2010. The primary focus in this plan is to change the climate and also reducing the waste. 2. 8 EVALUATION: As discussed in this chapter that Performance appraisal is very useful for any type of organization but there are always some exceptions.For example, if the managers fail to grade their staff according to their performance there are quite high chances that the company or the organization could land in hot water. So it is very important that the manager s should not grade their employees on personal assessment but should only grade them according to their performance which would only help the firm to achieve success in the future. CHAPTER 3- METHODOLOGY 3. 0 INTRODUCTION: Methodology is a set of practice to regain information about something. In other rods it is a choice about what data and information to gather.The information that will be obtained will also be used in the outcome and also be compared to the literature review In order to have an appropriate evaluation. One should keep in mind some factors when developing a successful methodology. I tried to contact the Marks and Spence's business and management analyst but it was too difficult to have a decent reply from them. Developing a methodology is not at all an easy task and requires different types of techniques and hard work in order to gather some useful information. 3. 1 TYPES OF DATA COLLECTION:
Thursday, January 2, 2020
Comparing Creation Myths of Ancient Egypt and The...
Comparing Creation Myths of Ancient Egypt and The Christian Bible Creation in Ancient Egyptian religion can be much different than the creation account taken from The Bible. Genesis has a set description of â€Å"The Beginning†while there are several different versions and variations in Egyptian mythology. The versions range from a â€Å"one god†myth (Ptah; see picture) to the more common creator out of Nun, which in itself has several derivations. The Ogdoad is a grouping of eight gods that existed before the creator and formed him. This version is taken from Middle Egypt at Hermopolis. The eight gods consisted of Amun, Huh, Kuk, and Nun and their counterparts (i.e. Nun and Naunet). They came together to create an egg that contains the†¦show more content†¦Creation began by a bodily function of the creator god. Either through ejaculation, sneezing, or spitting the creator began to produce others (Redford). The creator god had other gods come into being and they in turn began to create until the ancient Egyptians had a sufficient explanation for there being here. The most popular creation myth, in present day is the â€Å"one god†myth. It existed yet, had a brief life and it was in the minority. Here Ptah was the closest thing to monotheism that the ancients had. This is a popular theme in Memphite theology, but it was present in parts of Egypt. Ptah supposedly had all that is manifest in thought and then created them with his Word (Baines, 1991). It is also said that the â€Å"one god†is and the other god names are used to personify an extension of the â€Å"one god†(Ancient Egyptian Religion pg. 2 and 3). Ptah creates the Ennead with thought and word. This monotheism was not very widespread and it did not last long. In Genesis, the first book of The Bible the Christian and Jewish creation story is told. God spoke and his Word was done. He made the heavens and the earth. 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