This assessment will cover the following questions:
- Tesco is a leading retail industry of the UK. Examine the role of HR, finance and marketing function and its impact on the performance of the organisation.
- How internal and external factor impact the functioning of the Tesco organisation.
- Identify the deep understanding and knowledge of the role of financial management and reporting within the Tesco.
- Explain an understanding of collaborative working practice and how it helps in achieving the organisational objectives of the Tesco.
Business studies refers to the management study of individuals in order to maintain effective productivity which helps to accomplish appropriate goals and objectives in a perfect way to gain huge profits. Along with business studies always consist several subject which all are related with funds and managing a business. Moreover, this report is based on case study of motivation techniques at Jack stores which is formed by TESCO. At last, motivational theories along with advantages and disadvantages will get covered in this report.
TESCO is one of the best British multinational general merchandise and groceries retailer that headquartered in Welwyn Garden City London, UK. Across the globe it is considered as a third- largest retailer which deals with different types of products such as electronics. Clothing, petrol, software, furniture, telecom and internet services. Having lots of stores globally so that now HR assistant of this firm has opening new discount stores “JACK” which will be same as so many stores of TESCO along with in this stores they will have large number of employees with high skills and knowledge who are can easily increase their value and make these stores powerful in front of customers (Gaur and Kumar, 2018). During all these activities HR assistant is able to apply different types of motivational theories by which management system of TESCO can get satisfied and able to achieve their targeted goals or objectives. There are two types of motivational theories along with their advantages and disadvantages which are followed by HR assistant of TESCO, those are mentioned below:
Maslow's Hierarchy of Needs
It is known as one of the best motivational theory in term of psychology on the behalf of comparison of five-tier model of individual needs, for instance as per the hierarchy level within the five-tier model there are so many needs that includes safety, psychological, self actualisation and belonging. With the help of this HR assistant of TESCO is able to apply so many new ideas concepts so that employees can work accordingly and able to understand their customer's needs and wants in a better way. So the particular hierarchy of needs includes so many factors within five stage model, those are discussed below:
Physiological needs: This type of needs generally based on the biological needs for individual survival that consist so many things like shelter, food, drink, sleep, warmth and so on. If these needs of humans are not satisfied than human body can not function properly. Same as Jack Stores, if HR assistant of Tesco will give satisfaction to employees so that they can achieve targeted goals.
Safety needs: It is necessary for firm or Jack stores to bring so many safety tools for their employees so that they can use machines in a proper way and able to attain their target at competitive scenario.
Love and belongingness needs: It is considered as a third level of this theory as human is social and concern feeling of belongingness. If within Jack discount stores HR assistant will apply positive working culture so that it motivates employees to work more and maximise firm's value.
Esteem needs: Within the Maslow theory it shows the achievement of Tesco whereas, HR assistant has desire to accomplish their goals towards new business Jack Stores. So that they can develop dignity.
Self-actualization needs: It mainly includes self-fulfilment, huge experiences, realizing personal potential and so on. On the behalf of this HR assistant of TESCO has desired to manage business successfully through giving huge satisfaction to people along with workforce.
Advantages of Maslow's Hierarchy of Needs:
The main advantage of this theory is, it has so many types of human nature which could be good for HR assistant with the help of this valuable approach they can easily satisfy employee's needs and wants on time.
Disadvantages of Maslow's Hierarchy of Needs:
The huge problem of this theory is that it can not be verified theoretically just because there no such kind of method to evaluate appropriate satisfaction level of humans. So that sometimes it can be loose employee's confidence (Brannen, Piekkari and Tietze, 2017).
McClelland's Human Motivation Theory
This theory gives a new ways in order to manage and different kinds of people with several personalities in a easiest way. Along with it is necessary for to know that what motivates people the most, for this HR assistant of TESCO is needed to take feedback and praise from this people as well as employees. Accordingly HR assistant can motivated employees and make new business effective (Schoorl and et.al., 2017). There are three motivational schemes which is used by HR assistant of TESCO, those are going to be discussed below:
Achievement: This is necessary term for HR assistant to determine their own competence of people so that they can achieve high goals towards management of TESCO and Jack discount stores. It will help them to encourage their employees to achieve appropriate objectives to gain competitive advantages.
Affiliation: It depends upon nature and behaviour of people, in context with TESCO it is needed for HR assistant to use this approach towards motivating employees to gain social gathering for new business that will improve work performance and increase value of firm.
Power: It is one of the best way or need that help HR assistant of Tesco to control works of people/employees. Through giving so many effective tools and techniques they can improve entire working performance of people (Perchard, MacKenzie, Decker and Favero, 2017).
Advantages of McClelland's Human Motivation Theory:
The biggest advantage of this theory is that employees of new business Jack discount stores are able to take task as per their choice and motivates others.
Also Read :- Strategic Planning to Accomplish Goals
Disadvantages of McClelland's Human Motivation Theory:
The major disadvantage of this theory is focuses on power, affiliation and achievement along with ignore basic necessities such as food, shelter etc., which is considered as a primary needs of employees.
From the above theories this can be said that, HR assistant can easily identify motivational theories and able to motivate its employees through applying so many approaches that make management system more better of TESCO and Jack discount stores.
According to the above report it has been concluded that, motivation theories are one of the best way to motivate firm's employees and others. With the help of these assorted theories people can easily achieve their target and able to sustain for long period of time at marketplace. It helps to to achieve targeted goals from their new and old business and maximise their values in front of their competitors.
Get more details about assignment help from our experts.