Tesco and Resources
Tesco use both physical and technological resources. Physical resources are resources that are available to business organisations in the form of buildings and other machineries needed for the day to day running of the organisation. A few examples would be:
Buildings and Facilities: All businesses need buildings which they control from, this can range from someone’s front room, or tower blocks all over the world, buildings play an important role in the image of a business and can influence different types of customers, many financial institutions such as banks like Lloyds TSB and HSBC have very famous buildings as their headquarters and are still located in central London near the stock exchange so that they can
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The management of human resources is essential as it commits employees into achieving organisational goals and objectives. Human Resources management functions as the link between the organisation and the employees. Management of human resources plays a significant role in clarifying the organisations problems and providing solutions, while making employees work better. Relating to Tesco, the organisation could manage its employees into providing a better and more efficient customer service.
Physical Resources
Physical resources are important for every business to carry out the everyday activities and running of the organisation, therefore managing of physical resources is essential to an organisation. Physical resources include: Buildings and premises, equipment, facilities, plant and machinery, materials and waste. Every single business, such as Tesco, need premises to operate it therefore an organisation should manage its buildings and premises according to size, the environment, location of the organisation and according to organisational and customer needs and requirements. Management of equipment is also equipment is also necessary in an organisation as lack of equipment or bad management means that production can’t be carried out as efficiently. Equipment includes IT:
Human resource is an appellation used in referring to the workforce of an organization or company. Human resource management is involved in the act of putting together employees in an organized manner to assure the objectives of the organization are achieved in a competent and experienced manner. Human resources are the most important services of any organization since they are the catalysts of non-human resources and the medium for developing competitive advantages and sounds of creativity. No organization can exist without a human resources department (Walsh, 2009). A company without an HR department would be reducing its operations and could collapse within a short amount of time.
The study of human resource management will help you understand an organisation, its structure, the way it works and its culture. Organisations need their employees to contribute effectively to the achievement of the organisational purpose. In order to achieve this, staff will have to be properly selected, trained and managed. Managers have to understand how to motivate employees and win their commitment to the organisation.
* Intangible Resources – Family commitment, networks, organizational culture, reputation, intellectual property rights, trademarks, copyrights
An organisation needs to carefully manage both physical and technological resources. The physical resources include the maintenance, building and security of the premises. The technological resources include the equipment, the design and also the drawings.
Human resources involves workers who are in charge of the organization and responsible for implementing strategies and policies that relate to the management of individuals. It is a very important part of a company’s success and ultimately decides how much the company can grow and achieve (Vasquez, 2003). Human resource managers seek to achieve this success by arranging the supply
The primary function of human resources management is to increase the effectiveness and the contribution of employees, which are in alignment with the organizations goals and objectives. With in human resources management, there are many components or pieces of the puzzle that allow human resources management to exist. Such pieces of the puzzle include, equal employment opportunity, affirmative action, human resources planning, recruitment, selection, development, compensation, benefits, safety, health and benefits. Each of which will be discussed. In human resource management,
The basis of a firms ability to successfully execute any strategy lie in it’s resources and capabilities.The greatest plan in the world means nothing without the means to carry it out. Resources, defined in the text Modern Competitive Strategy are: “relatively observable, tradable asset[s] that contributes to a firm’s market position by improving customer value, lowering cost, or both.”
Technology is having an impact on businesses such as Tesco due to the ever changing nature of its uses such as the self-service tills that have been installed over the last several years in stores and new and updating security systems. Tesco needs to keep up-to-date with how it is constantly evolving and also must be efficient in its use as to not allow issues to arise with it.
Human Resource Management (HRM) are activities managers perform to plan for attracting, develop, and retain a productive workforce (Kinicki & Williams, 2016). The role of human resource management is to prepare, develop, and administer policies and program designed to make expeditious use of an organization human resources. Part of control which is concerned with the people at work and with their relationship within an enterprise. HRM have their hands full; they have to face employees daily with a complaint, write-ups and sadly terminating of the worker. All areas of HRM such as, staffing, orientation, training, development, pay wages benefits are all significant parts that are dealt with daily. Human resource management presents itself as
A human resource manager is responsible for employee compensation, recruitment, employee policies, and regulatory compliance. The positions is no longer simply administrative, human resources has become the heart of organizational culture. Human resources help companies make the best of their human capital by hiring intelligently, providing incentives towards retention and creating growth opportunities for the employees. If a company has successful human resource personnel the company stands
Tangible resources is easy to understand with the meaning of tangible word which means something that can be felt with the sense of touch . Tangible resources have physical existence. We analyse the Bella box tangible resources which are stated below:
According to Ruth Mayhew Human resource planning is to help the entities to meet the organisational goals because planning links human resource planning with the actual operational process, and also one of the most reasons of human resource planning is to counteract the uncertainty and changes. Human resource planning helps Tesco and any other business to maximise career development and high employment retaining methods. Planning has the
Resources are the source of the firm’s capabilities. Resources are bundled to create organisational capabilities. Some of a firm’s resources are tangible and intangible. Tangible resources are assets that can be seen and quantified. Intangible resources include assets that typically are rooted deeply in the firm’s history and have accumulated over time. Intangible resources are relatively difficult for competitors to analyse and imitate. The four types of tangible resources are financial, organisational, physical and technological. And the three types of intangible resources are human, innovation and reputational (Hanson, D., Hitt, M., Ireland, R. D., & Hoskisson, R. E., 2011, pp. 75-78).
Place – Place is also very important in the terms of business because before opening the business they should consider the location properly that are they targeting the proper market according to their business. Place must be easy accessible for customers, suppliers etc.
In today’s world, different types of business have emerged and business operations have become the cornerstone of making a success, however the way in which they are operated is what is important. Most businesses hunt the main objective of making a profit without considering how that might affect other factors of society and that is what in most cases diminishes the longevity of the organisation.