Operations Management in Tesco

5444 WordsJan 12, 201322 Pages
OPERATIONS MANAGEMENT AT TESCO PLC: MANAGING FINANCE, PEOPLE AND INFORMATION TECHNOLOGY AT THE ORGANISATION Abstract In this assignment, we will take the case of Tesco to understand the strategies it used to manage finance at the company. The second part of the assignment will concentrate of the human resource management practices adopted by Tesco and the finance part of the assignment will be concerning the information system strategy at Tesco. Table of Contents Introduction…………………………………………………………………………..4 PART A: Managing Finance………………………………………………………..4 PART B: Managing People………………………………………………………….8 PART C: Managing Information…………………………………………………..13 References……………………………………………………………………………16 Introduction In this…show more content…
A financial abatement mainly consists of four main components which are balance sheets, profit and loss account, cash flow statements and income statement. Each component has different function which can be lined out as: Balance Sheets: It provides the financial situation of the company as a whole. It records the tangible and intangible goods that the company owes or owns. The three categories in a balance sheet are assets, liabilities and shareholders’ equity. The assets are basically categorised in to current assets, fixed assets and other assets. The liabilities section of the balance sheet consists of current liabilities and long term liabilities. The shareholders equity represents the net worth of the company. In balance sheet, the shareholder’s equity is calculated as the sum of liabilities and net worth. Profit and Loss Account: it summarizes the incomes and expenses of a company in a given period of time. This includes accruals which are incomes that will be realised only after the particular profit and account was prepared. Cash Flow Statements: These statements are very important to predict the future flow of finance in the company. The cash flow statement is concerned with understanding if there is enough money for all the activities and expenses of the company and stands as a good measure for a company’s liquidity. Income Statement: The income statements are used to
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