Organizational Performance Management Assignment with Tesco (GC0856)
Table of Contents
1.0 Introduction.
2.0 Organizational Performance Management and Performance Measurement
2.1 Drivers of Tesco’s success.
2.2 PerformanceFramework.
2.3 Measuring Performance.
3.0 Communicating Performance o Stakeholders.
4.0 Risk Management at Tesco.
5.0 Quality Management and Improvement
6.0 Financial performance.
7.0 Customer and Client Perspectives.
8.0 People Perspectives (HRM)
9.0 Implementation issues.
10.0 Recommendation.
Recommendation 1
Recommendation 2.
Recommendation 3.
11.0 Conclusion.
Reference.
1.0 Introduction
Managing the organizational performance of a business is one of the key activities to gain organizational goals and objectives (Torrington et al., 2013). The expected performance of a business can be gained by developing effective strategic objectives and engaging the business stakeholders, mainly the employees and customers, within the business (Mullins and Laurie, 2014). Tesco is the leading retailer in the UK, which is now also operating in the global market including the EU, Asia, and the US. Tesco has to deal with many stakeholders, most importantly with the employees. Tesco has more than half-million employees, who are devoted and dedicated to the goals and objectives of the business. In addition, Tesco has a big market share in comparison to its competitors. Thus, it servers millions of customers every week.
Tesco has been maximizing its business in different sectors including health, telecoms, insurance, financial services, and the internet. Tesco has also created a successful online supermarket that offers essential commodities including music downloads, home retailing, and groceries (Tesco Annual Report, 2016). Therefore, the success of Tesco’s performance management of activities has been a key issue. As a result, this report outlines and analyzes several issues related to the performance management of Tesco.
2.0 Organizational Performance Management and Performance Measurement
2.1 Drivers of Tesco success
According to Tesco Annual Report (2016), a number of success drivers have been identified for Tesco. Firstly, Tesco is always devoted to listening to its customers focusing on their changing needs and expectations. Secondly, Tesco has developed a very attractive philosophy, “Every Little Helps”, which is considered also an effective marketing slogan. Then, Tesco has developed two key values. The first value is “no one tries harder for customers”. The main goal of this value is to focus on customers, understand customer needs and expectations, and deliver unbeatable services and values. the second value is “treat the people how it likes to be treated”. This value focuses on environment and employee relations to manage and trust and respect the people who worked for Tesco. Tesco has been learning for years to motivate and manage the employees.
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2.2 Performance Management Framework
Tesco has developed an effective growth strategy, map, and compass. Tesco has developed a performance management framework by providing a map and outlining strategic objectives for its business (Tesco Annual Report, 2016). Tesco has created key performance indicators to track the performance of its activities. The key purpose of Tesco’s performance is to support the steer of its organizational success. Tesco has given its performance framework name “Tesco Corporate Steering Wheel”, which is shown in the diagram below:
Diagram: Tesco’s corporate steering wheel Source: Tesco (2016)
The above Tesco Steering Wheel focuses on strategic issues practiced by Tesco. This wheel is designed in an easy way so that the stakeholders can easily understand. This framework includes twenty objectives in five key perspectives. The five perspectives are people, finance, customer, community, and operations. The finance perspective focuses on sales growth, profit, and investment. The customer perspective focuses on customer retention and loyalty, price, quality, and customer service. The community perspective focuses on fair, honest, and responsible towards communities. The operation perspective focuses on quality products and delivery on time, time, jobs. And the people’s perspective focuses on a job opportunity, employee performance, motivation, rewards, and compensations. The objectives designed by Tesco through these five perspectives allow the business to be balanced in its performance management process (Advanced Performance Institute, 2016)…………..
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