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1.1 Problem statement
Strategic management and leadership issues are considered to be as one of the hot topics in these current times. Be it an SME or any MNC they have to undergo various strategic management and leadership issues within their functioning. Thus it can be clear from this that the present proposal will be done based on the topic of strategic management and leadership issues in the selected company named Tesco. Tesco is identified to be one of the most winning high-end supermarket retail companies functioning in the UK in addition to the strategic management in addition leadership skills it has been able to create worth for its business. But according to various reports, it has been identified that the company is going through strategic management as well as leadership issues due to the on-going pandemic which is affecting the business functioning too. According to Uzoechi Nwagbar in his report, the main issues arose due to the change in management considering the current situation that is affecting the employee performance as they are still coping with the changes (Nwagbara, 2011).
As stated in the above section that the problem statement of this project is to identify the strategic management and leadership issues in Tesco. Tesco Plc has gone through a big transformation in the organization's administrative and strategic roles, which has impacted the companies functioning that made a payment directly to gaining a cutthroat edge within the UK. The main reason behind selecting this particular topic is its reach. Proper research on this topic will help both the employer as well as the broad academic society by making them aware of what does the actual meaning of strategic management and leadership issues and how it is affecting the functioning of Tesco.
1.3 Project aims and objectives
One of the main of conducting this study is to identify the strategic management and leadership issues within Tesco that affect the competitiveness of the company
Below mentioned are some of the research objectives behind conducting this study:
1.4 Limitation and scope
There are a few limitations related to the study. The first limitation related to the study is the wideness of the topic due to which it will be difficult to get the exact information about the issues. However, the scope of the study is very broad as it will cover various other concepts like change management, competitive advantages, etc. apart from strategic management and leadership issues. Thusly, it will provide the reader with a wide variety of topics to study from the given list.
2.1 Key literature
According to Deliu, 2019, an organization's strategic management involves planning, monitoring, analysing, and assessing all its necessities to meet its goals. A constantly evolving business environment requires organizations to evaluate their success strategies constantly. The strategic management process allows an organization and its leadership to plan for its future, one of the leading accountabilities of the board of directors (Nwachukwu, and Vu, 2020). Strategic management also sets some set of directions for the business and its employees. Further, the plans of effective management strategies include some tests on the organizational activities which provide outcomes such as the enhancement in profitability. As per the opinion of Figueroa, and et.al., 2019, a leader can influence a team of individuals continually, which encompasses many important characteristics. Management theories serve as the foundation of leadership concepts, which serve as standards for managers, supervisors, and other positional leaders. Business decisions, such as changing a strategy or direction, should be communicated to everyone within the company to prevent miscommunications.
According to Teece., 2019, planning and implementation can be advanced control and leadership, including both. If a company spends all of its period planning, it runs the risk of becoming paralyzed by analysis. A leader provides direction and resources, whereas a strategic manager offers the end goal. Leaders create a path of systems and processes that would help to attain the ultimate goal during the planning process. Relation between different operations that produce desired results for the organization while also requiring each other. However, governance is important in the process of strategic management for making decisions that benefit the company (Porfírio, and et.al. 2021). Because of their capability to deliver human beings together, leaders are vital to strategic management. Leaders are now not touchy about the outcomes of their planning. There is a gorgeous deal of reliance on what has been determined, as properly as those who have been assigned precise duties through representatives. Priem, 2018 stated that it serves as information for approach development. Leaders can be visionary leaders; however, these are nothing but blurry dream worlds except precise steps. But given that the present-day chief is additionally an operation, and due to the fact the two have many similarities, many humans appear to accept as true with they are interchangeable. Because they collaborate to attain goals, each management and administration workforce trusts those who are leaders. There are several differentiations between them, along the range of duties that human beings serve.
Cortellazzo, Bruni, and Zampieri, 2019, believed that a task plan entails skills like managing people and planning tasks to ensure its development. Planning, conducting assessments, and reshaping an organization to prosper and achieve its key objectives are all aspects of strategic management. Meanwhile, leadership derives from the verb "lead", which means to guide or to show the way (Akkaya, and Tabak, 2020). The leader of an organization who lacks charisma will never be able to accomplish their goals on time if they don't have an effective leader. Basically, leaders are responsible for structuring and leading an organization toward its pre-determined objectives. Strategists devise plans, start implementing them and oversee the workflow. Additionally, deadlines are given or extended by them as part of the process. Leading and strategic management show a significant correlation, which means both possess some special characteristics that influencing others to succeed in an organization. Furthermore, strategic management is one method of creating a competitive advantage for organizations to achieve their goals. As per the viewpoint of Muminovna, and Shokirovich, 2022, due to their authority and job descriptions, top management often acts as strategic management. There is a common observation that leadership seeks change, thus requiring strategic shifts or changes. People are convinced to achieve organizational objectives by the leadership, which has already been mentioned. Strategic management and leadership are closely related because leadership impacts the activities that organizations perform.
According to Fuertes, and et.al., 2020, in terms of its strategic management issues, Tesco is currently unsure about whom it should target - the supermarket is stuck between Sainsbury's, Waitrose, and the discounters Aldi and Lidl. Despite the economic downturn, its market extension has been identified as changing. Tesco has identified the Asian supermarket as an opportunity for the long term. Despite the recession, Tesco continues to invest in Asia to position itself for even greater success as the economy recovers. As per Bonsu, and Twum-Danso, 2018, trends in consumer shopping constantly change. With the flexible goods return policy and one-stop shopping today, many people with busy schedules prefer same-day and fast delivery. Tesco must take into account consumer behaviour and organic food demand. They need to follow an appropriate level of leadership activities to handle the employees and their perception for the betterment of business (Randrup, and Jansson, 2020).
2.2 Conceptual Framework
It is considered as the formal theory including concepts along with the empirical findings through the literature. However, the study shows the relationship between strategic management and leadership in terms of Tesco. Further, according to the literature, the independent variable is strategic management because it is related to the concept of an organization (Da Silva, Kovaleski, and Pagani, 2019). Further, the issues of leadership are dependent variables as the leaders and employees are dependent on each other for the area of work. In addition to this, the mediator variables of the study are considered as the employees of Tesco as the leaders and employees both come under the dependent variable.
3.1 Justification of the research approach and strategy
For conducting any sort of research it is important to first design the approach and select the research strategy. This particular study will be focussed on using the quantitative research approach will be used to justify the stated research aims and objectives. The main reason behind selecting this particular research approach is due to the scope of the study. As stated earlier the scope of the study will be broad and also based on the conceptual framework provided it will be useful o focus on one particular group to validate the test result. The general range of the introduced research work is very high, which intends to gauge the effect of administration systems and their progressions on Tesco's strategic management decision.
3.2 Data collection
3.2.1 Data collection methods
As the entire study will be based on a quantitative research-based study thus the selected data collection method will be using a survey questionnaire. A questionnaire is usually identified as a bunch of questions that consists of various enquired that the target audience needs to respond to (Young, 2015). In order to do so, a range of 20 questions will be prepared based on the topic of strategic management and leadership issues in Tesco and a random survey will be done across the company but only the employees will be able to take part in this survey process. They have to answer the questions based on the percentage of what they feel about the topic and questions. Both male and female employees can take part in the survey process.
3.2.1 Outline of a pilot test
The research instrument is a kind of tool which is deployed by a researcher to gather, determine as well as evaluate the facts associated with the study. As stated above the data collection process will be done using a survey questionnaire, as a result, the best suited research instrument for this study will be a pilot test. The pilot test in this study will be used as a research instrument that will focus on evaluating the feasibility, timespan, expenses, and negative impacts as well as improving the study design before the actual data analysis will be done. This will additionally help in getting accurate results using the data that will be gathered from the analysis (In, 2017).
3.2.3 Administration of the data collection process
The management of the data collection process can be done by maintaining the below mentioned process:
3.2.4 Population and Sampling
A population is usually defined as the overall team that a researcher needs to conclude concerned. And sampling is defined as the technique in numerical evaluation within which already measured digit observations are considered from a bigger population. The population and sampling play a major role in doing the data analysis for any research study. For this particular study, a total of 100 people will be selected as the main population in which both males and females can take part. And the sampling will be done using random sampling where employees will be selected randomly to fill the questionaries’ from which the percentage of the answer will be derived.
3.2.5 Data Analysis
Data analysis can be defined as the technique of methodically using the statistical procedure to identify, explain as well as assess the information derived from the study. The data analysis that will be used in this study will be using the SPSS and excel tool to analyze as well as evaluate the result. The use of SPSS and Excel will authorize the researcher to comprehend the facts by means of proper communication of the queries which will permit to solve any types of questions related to the strategic management and leadership issues in Tesco.
Researchers conduct all types of research in accordance with research ethics, and they are educated and monitored to ensure that research is conducted in an ethical manner.
Confidentiality: When participants volunteer to share sensitive or private information, researcher should ensure that it is remain secret. Callous data collection techniques may seriously damage the privacy of research participants.
Provide the withdrawal right: Except for covert findings, research participants were able to withdraw at any time without penalty. It is critical to increase public trust in data analysis institutes subject areas (Cascio, and Racine, 2018).
Informed Consent: A consent form should also include info about the aim of the survey, what the participants will be asked to do, how the statistics will be used, possible outcomes, and the linked discomforts and threats (Teece, 2019).
Minimize risk of harm: Various methods and trying to plan, such as comprehensive debriefings, may notice the risk or discomfort reduction strategy. As a direct consequence, it is critical to reduce harm risks by ensuring, among many other things, informed consent, secrecy, and secrecy are preserved, and no deceptive practices are used, as well as offering respondents the option to withdraw from the research at any period (Kara, 2018).
The timeline is usually considered as a Gantt chart in which details of the tasks are registered with proper timeframe to complete each of the tasks. Below given is the Gantt chart for this particular study:
Chapters to be done
1. Selection of the topic
2. Finalization of the topic
3. Getting confirmation on the topic from tutor
4. 1st Chapter: Introduction
5. 2nd Chapter: Literature Review
6. 3rd Chapter: Research Methodology
7. 4th Chapter: Data analysis
8. 5th Chapter: Final submission of the proposal
So, from the above given Gantt chart it can be identified that the entire proposal will be completed within 6 weeks where the timeline for every single chapters has been given.
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