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Part 1: Business Report Assignment Sample

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Part 1: Business Report Assignment Sample


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Executive Summary The primary focus of this report was revised for the effectiveness of the operation management principles and also to apply the concept to implementation in the operational context. The report mainly focuses on Tesco's overview of the organization and the difference between the operational and operation management for Tesco as a retail chain. It also primarily focuses on the ten different operational management principal basis the Tesco. Next, the report has focused to highlight the continuous improvement and the lean principle of Tesco’s organization. The report deals with the lean strategies to overcome waste products. At last, there are recommendations for the managers on how to develop the organizational management of the retail business Tesco. An introduction to the chosen organization The report will be discussed the effectiveness of the operational management principle and the concept for the improvement in the operational context of Tesco as a Retail Organization. The basis of the report is highlighting the intended member of the operational management process of Tesco. The report will mainly highlight the context of operational and operational management. It will also review the implementation of the operation management principle for Tesco. Finally, a continuous improvement and lean principle will be discussed followed by the recommendation for improvement. Tesco Overview Tesco is one the leading retailer of food on the global platform operating around 2318 stores that would employ over 326000 personnel. It tends to provide an online service through the subsidiary Tesco. com. Tesco in the UK has considerably the largest market share a which tend to operate under the founded different outstanding “Superstore, Metro and Express and Extra”. Tesco’s vision is to increase the firm’s reach so that it can provide b, long-term growth by following customers into large, growing domestic sectors and new markets abroad. Mission: To earn customers’ lifetime loyalty by providing value to them. An explanation of operation vs. operations management Differences between operations and operations management The management and control of a company's goods or services in terms of design, execution, or development is referred to as operations management. Operations are the segment in the responsibility of supervising your company's internal operations to ensure that it runs as effectively as possible. Each small business owner must oversee the design and management of its behind-the-scenes activities, whether they are producing goods, selling goods, or delivering services (Caro, Kök and Martínez-de-Albéniz, 2020). In the retail business, they would apply a daily goal to stock the item for customers want at the price that is happy to pay. It means that the operation means perfecting the inventory. Tesco, it tends to examine the outcomes from the previous year. What's trendy and what's not? Can you convert it into caper costs or better conditions with your suppliers? Would your consumers be willing to pay extra for any of your products? Operations managers are responsible of buying supplies, scheduling labor, and utilizing facilities, all of which contribute to the manufacturing of the products that the firm sells. Operations management (OM) is the control of business practices inside an organization in order to attain the highest level of performance possible. It is concerned with transforming materials and labor into commodities and services as efficiently as possible in order to maximize a firm's profit(de Sousa Jabbour et al., 2019). In the retail industry like in the case of Tesco, it includes many aspects like the “design of the store, the display placement, the customer service, the monetary and credit handling, shoplifting prevention, premises maintenance, staff management, inventory optimization, those that deals with the overall supply chain leading to having the item” in the Tesco general store. The operations of Tesco are the “inbound logistics, operations, outbound logistics, marketing and sales, and services offered to customers”. Further Tesco has to work closely with the dealers. The operational management of Tesco would include manipulating the elements of the marketing mix to create a competitive advantage and have positive effects on sales. The firm also offers a wider range of products and it has been doing it for so many years. The different managing operations for Tesco would include the food, clothing, financial service, electronics, furniture, and home decor to manage their inventories(). Retail operations need the involvement, engagement, and management of people. Tesco employs a high number of front-of-house personnel who deal directly with consumers in its stores. To ensure the quality of service, the company performs tough and consistent recruitment initiatives to attract the most qualified personnel. Example – Outbound Logistics In retail, the operational management disuses the task of managing the retailing & logistics and also to find out a certain way to control the cot to transfer the item from the hand of the makers to patrons. Examples- Training of personnel of Tesco A review and critique of the implementation of operations management principles within the chosen organization Operations management principles include methods such as proper planning, stringent quality controls, and suitable personnel placement, all of which result in products/services that meet consumers' overall expectations. Operational management should tend to focus on the larger issue as opposed to the small process that is part of the problem (Ranta, Aarikka-Stenroos and Mäkinen, 2018). It is that the no single tool that would offer a universal solution. It is that everything is interconnected in the process of production for Tesco, All the elements should be predictable a consistent (Ranta, Aarikka-Stenroos and Mäkinen, 2018). The operational management cannot be profitable for Tesco without planning production control that would tend to substitute the expectedness and reliability. OM deals with preparation, observing, and establishing the process of production. It tries to transform the raw materials into complete goods. The managers should supervise and train employees to increase efficiency of the employees. In order to differentiate the products, the OM always tries to maintain the quality of the products and tries to keep the prices different from their competitors. The managers should search for the problems present in the management system and try to resolve the problem. The passion of the employees to work more hard leads to the growth of the company. The managers need to keep cool and should not show aggression to their employees. The targets of different employees are different and so achieving success is different for every individual. The value of Operation management is the process that generally plans control and supervises the manufacturing and production process and the service delivery. Change is generally received as an operational issue (Ranta, Aarikka-Stenroos and Mäkinen, 2018). A new solution should be received for the constant operational improvement that is possible. It is sometimes also to encirclement the current change for the management of the methods that would include the Tesco’s Six Sigma, Lean, kaizen, and Agile plan. An analysis of the extent to which the operations management of the organization in the case study meets the requirements of the organization Tesco is a big retail industry and hence it has implemented an Operational management system in order to gain productivity and profitability. Tesco uses a model to stock the shelves of the stores. They use weather patterns to see what the customers require in huge amounts. In this way, Tesco finds out the requirements of the customers and then makes its supply. Tesco tries to keep the prices of its products low so that it attracts the customers it also provides the customers with loyalty cards. The OM focuses on the resources and tries to meet the demands of the trending customers. They make use of labor in a pocket-friendly manner and in time (Braccini and Margherita, 2018). They make sure that resources are abundantly present in hand. They find sellers who provide the perfect goods at the correct prices. The management of the inventory is done with the help and another supply chain. There should be coordination between the processes related to the business (Braccini and Margherita, 2018). It is important to understand the activities of an industry so that they work together effectively. The OM tries to deliver the products to the customers timely. They try to maintain the quality of the products and fulfill the requirements of the customers. They accept the feedback given by their customers in order to improve the quality of the product. For the increase in sales of products, Tesco uses a common platform strategy. It has started a “Fresh and Easy Store” where all types of food and grocery items are available. The customers get attracted to this concept as they will get all items in one place. Another strategy is to mix product availability and the focus of the customers. With the help of technology, the company is able to track the demands of the customers. The company adopts a differentiation strategy (Pham, Tu?ková and Jabbour, 2019). It helps to give high competition to their competitors. The customers have a “differentiated retail experience” due to the quality of the products and the recruitment strategies. Management theories help to achieve success for an organization. The advantages of using management theories are; that it helps to increase the productivity of a business as with the help of these theories the performance of the employees is improved (Braccini and Margherita, 2018). Decision-making becomes easy for the leaders and they take effective decisions. In the workplace, a scientific method of doing tasks should be implemented and this was said by Fredrick Taylor. He believed that when employees are forced to work harder, it would give rise to more growth in the company. The advantages of effective operational management are; that the quality of the product is improved. Effective OM tries to meet the requirement of the customers. This ensures that the best quality products reach the customers in time (Pham, Tu?ková and Jabbour, 2019). The organization experiences an increase in revenue. Due to an increase in the quality of products and a high level of customer satisfaction, the brand image will increase and more customers will get attracted to the company. This will result in an increase in revenue. Effective OM results in the reduction of waste. Lean manufacturing techniques are used to manage waste products. Discussion of continuous improvement as a philosophy and describe the Lean principles and Six Sigma Principles The capability of the business is increased with the help of six sigma. This also leads to the profitability of the employees, and the morale of the employees increases. Tesco applied the six sigma concepts to reduce the consumption of energy (Teeling, Dewing and Baldie, 2020). By this concept, the carbon footprint is also reduced. Tesco is trying hard to reduce its waste product and prove to be green IT so that its efficiency increases. The full form of DMAIC is ‘Define’- The targets of the project should be defined. ‘Measure’- In order to determine the present process performance, the process should be measured. ‘Analyze’- The actual reasons for the defect should be analyzed. ‘Improve’- The defects should be eliminated. ‘Control’- The performance of the future should be controlled. The DMADV methodology is almost the same except for the last two initials which shows ‘Design’- The process should be designed in detail to know about the requirement of the customers (Teeling, Dewing and Baldie, 2020) ‘Validate’- The performance of the process should be validated. Tesco is definitely focusing on lean and hence the profits of the company increased. Hence Tesco has made a good relationship with their customers as well as suppliers, made proper use of transportation assets, the inventory costs decreased and the replenished time in the stores also decreased. Lean can be implemented by Tesco by eliminating waste materials from their manufacturing places, lowering unnecessary inventory, the production circles of the products should be lowered and the response time of the marketers should be increased. A continuous improvement plan, including your justified recommendations for improvement, based on your review and critique of operations management principles within your organization It is a method to reduce waste products and it determines the culture of the business. The continuous improvement plan helps an individual both professionally and personally (Flynn, and Crowley, 2021). Every industry values CI skills and a lot of qualifications and credibility affect Tesco positively. It only opens doors for people to improve. The employees find themselves in limelight for giving so much effort to their work. Improvement Present Conditions Target Time Frame Cutting plastic bags. Presently the company is using plastic bags for the delivery of their products. Consumers will get attracted to the brand if it is using recyclable products 6months EXAMPLE -2 AREA development Quality development Professional Development (CPD) The products should be available according to the demands of the customers. Resources required Raw materials are required and help from governments or banks for money. Plan completion duration 3months Progress review The quality is improving with time Success Criteria Now the customers are more satisfied and are giving positive feedback Date Completed 29th April 2022 Signed Off 30th April The advantages of using a business plan for continuous improvement are: It leads to the increase in engagement of the employees, the turnover of the employee increases, the products and services are different from the competitors, they provide advanced customer service and the learning culture of the company becomes proactive (Flynn, and Crowley, 2021). The strategic principles of Continuous Improvement are to focus on the customer, and their needs, to utilize the ideas of the workers, to give support to leadership, and make little changes frequently (Flynn, and Crowley, 2021). The small changes will definitely make a big effect on the future and people can adapt themselves to small changes more easily than large changes. Analyse the effectiveness of a continuous improvement plan using appropriate theories, concepts and models The PDCA cycle means the “Plan-Do-Check-Act” cycle. This cycle is used before starting a project when a new design or style is used to develop a product, when the work process is continuously repeated and when a company is working to get continuous improvement (Dania, Xing and Amer, 2018). ‘Plan’- Plan to do a new project or work. ‘Do’- Research the product and do a case study. ‘Check’- Recheck what is tested and evaluate the results. ‘Act’- The things learnt in the study should be executed in action. ‘Kaizen’ also means ‘continuous development” or “change for the better”. The main aim of ‘Kaizen’ is to improve the work environment of the company and being efficient and effective in work (Rusdiana and Soediantono, 2022). It works for the development of quality and delivering products on time. Through ‘Kaizen’ the engagement of the employee’s increases and they become more satisfied with their work. With the help of ‘Kaizen’, the productivity of the company is also increased as the efficiency of the workplace increases. ‘Kaizen’ works to maintain Time and Management. It works for the development of quality and delivering products on time. Recommendations The variousrecommendations to improve the organizational management process are;meaningful values should be created. The selection of employees should be made properly after taking interviews. The employees should be made to feel empowered and they should be given the trust that they can work better. The Following recommendation for the operation manager needed to be focused that vital for the Tesco Making sure that Tesco focuses on the right operation metric Tesco should always use the data to recognize the main problem that it faces during the operation management process. Investing in staying up to date with the latest technology the Tesco should be delivered The focus on the process before automation is where Tesco should propose for its operation management function in a smooth manner. For Continuous improvement, the small management imp with the bigger goal is needed. Conducting self-assessment. Conclusion This study deals with the organizational management of the retail industry Tesco. The six sigma principles and the lean principles are discussed in detail. The study reports the advantages of using continuous improvement. This study also deals with the implementation of organizational management. Finally, a firm's operations strategy has an impact on revenue productivity and profitability. It assesses managers' and employees' productivity, helping people and businesses to grow more swiftly. Operations strategy is the company's engine room, where powerful choices and strategies are made. Operation management involves the planning, scheduling, and costlier of activities that would transform the input into finished goods and services for Tesco.Operations management is critical to a company's success since it helps with the efficient management, administration, and monitoring of goods, processes, and workers. When it comes to operations management, it has an impact on every department and business. Further, it sums up the Continuous improvement that drives the process and product development. Moreover, this Continuous improvement culture for Tesco has been shown to boost worker engagement and reduce turnover rates. For businesses that are constantly looking for ways to enhance their operations, the cost of goods and services will always rise. As a result, we will see the development of smarter and more cost-effective goods Lastly, Kaizen is a Japanese management concept that focuses on boosting productivity over time by including all employees in the improvement of the workplace. Kaizen is a Japanese word that means “continuous improvement" or “improvement.”

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