Question:
• Brief description of the research project and issue under investigation and an analysis of good practice in relation to this issue.
• Identification of the key stakeholders and why and how they might be interested in or affected by this study.
• The key sources of secondary research and an evaluation of their contribution to the study
• The key methods of collecting primary data and their relative strengths and weaknesses
• an outline of how you might present the findings in order to persuade stakeholders to act on the results.?
The study basically deals with a company which is based in United Kingdom and its name is TESCO (Biscaro et al., 2012). Basically it is a retail industry and has been in operations from years and has supermarkets in various locations to provide convenience to the customers. This company actually is having a leadership quality as over because it is one of the leading company in the retail sector (Chang and Madera, 2012).
Buying of small shops has become a major marketing strategy which was adopted by this company made them more successful at a faster pace. Efforts are made to keep the shareholders happy and the customers to provide whatever they need as per the current trend and fashion.
With the increased technology, online facilities has become a major advantage to the entire human being where all the facilities are available with just a single click which makes life easier residing any place in the world(Clement, 2011). The company selected here is TESCO which indulge its activities in the sale of various FMCG products which are made available to the customer’s at the most competitive price.
The primary data which are required to be collected are the raw data like questionnaire that are needed to be filled by the customers whether or not they will be interested in the online purchase of goods and services(Clement, 2011). Online facilities will make the job of the customer more comfortable as they can purchase any goods online and make the online payment as well.
Secondary research which has to be done on an individual research will be based on the internet source which will be required to assess the data in the most efficient manner (Cleophas, 2012). Human resource information should be transparent for all the employees which will make them more comfortable to work in the most suitable environment (Jordan, 2012). Training should be provided to the employees so that they can have complete knowledge of the services which have to be provided to attain success in the long run (Walker et al., 2012).
The various data has to be collected in different which will help to compare to have a better idea of particular business activities (Karmarkar and Dutta, 2010). The most important aspect which has to be kept in consideration is that online facilities are everywhere and efforts should be made to enhance it for a better business in the near future.
This company if have the online access then easily can reach the success in short span of time because it will also help in reducing cost and increasing of profits(Kittelberger et al., 2012). Salesmen’s cost will not be required in case of online availability because it actually do not need to showcase any goods and make the customers attract towards the services which are provided to them.
Many retail sector have already indulge its business activities in the way of online practices which is giving them success in wider range but there are various disadvantages as well in case of online facilities provided to the customers(Zhang et al., 2012). It can happen that the customers remain dissatisfied just because they could not have the imagination power to understand the product in online basis. Any business has both the aspect so as to attain the success rate and it does not come alone because it can always happen that the particular business can decrease in the revenue due to some strategy made (Larkin, 2005). The wrong strategy can bring loss to the company but that does not mean that they should stop the business rather it should made effort to diversify its business activities and think of expanding in more ways. TESCO also expand its business activities in the areas of financial planning which helped them to achieve the success rate in the long run.
HR professionals are actually responsible to recruit the right person at right job in order to gain the specialized workforce so that they can easily achieve the target within a very short period of time (Luo, 2012). The areas which need to be investigated so as to ensure smooth functioning of the business enterprise in the long run are as follows:
There is often found that there is very short time for the delivery of goods which can also sometimes go in the account of penalty which is not beneficial for the company and it needs rectification at an organizational level (Nikolaev and Chugunov, 2012).
Consumers are not satisfied with the services of this company and complaint whereby they found the problem with the amount of services provided to them.
The issue arises with the invoice where duplicity has been recognized as to which there are issue of two product at the same time which is actually a wrong practice in the company and it needs immediate attention.
Unknown items are seen to be deducted for no valid reason and it has become a issue which needs attention at operational level of business activities.
The cost which is incurred in the promotional basis has been found incorrect and deductions made are completely wrong and has to be solved by the HR professional with the help of other business heads present in the company.
Data collection methods are urgent to prove the success rates of a particular organization like TESCO who indulges in the retail sector and suppose to deal with various products which serve the purpose of the customers to buy more of it so that their expectations are met as well as they are ready to consume the services at a price (O’Clair and Davidson, n.d.).
Online services make the life of the consumer easier and that is the topic for this research and various data should be collected in order to implement it so that everyone can get benefited over it (Pekgün, 2012). Preparation of questionnaire and focus groups, interviews can help in knowing the view point of the customers as in what way they will be comfortable in receiving the goods and services.
Research has to be conducted so as to know whether the particular online services can work in the future or not (Phillips, 2011). Investments need to be made in the initial stage to create the web page of the business activities and they need to access it in proper manner. It may happen that the customers are more comfortable in the tangible products so that they can touch and feel the product which can make them happy because online products can only see and no one has the idea of the actual product.
Strengths:-
Leadership can be recognized in TESCO because it is considered as one of the best in the retail industry since its establishment from the year 1997. Due to its leadership qualities, the company has reached the high level to receive profits which will help to sustain in the competitive world.
One of the strength which made TESCO rise at a faster pace is that it has best buying power as it bought other rival shops to sustain in the market. It actually takeover many shops which actually was a marketing strategy and one of the most well known buying strategy was to buy Sainsbury which was the best retailer for the food section in the year 1995(Piętka and Kawa, 2012).
TESCO is known to implement good strategy in the area of growth and expansion to have an establishment in the new markets. It has also made strategy to expand its services from food to financial services as well as telecom services which will help to maintain the sustainable development.
Customers remain satisfied once they use the services of TESCO Company because the company make sure to have a survey on the price check. The company make effort to satisfy the needs and wants of the customer so that they can retain the customers for the future course of time.
The store format of TESCO has a multipurpose as so many options are available starting from extra, super stores, home plus and many more which will provide convenience to the customers.
Weakness:-
In this study, it was found that TESCO does not have much availability of its food items and mostly they manage with the substitute products which disappoint the customers to a great extent.
Cash payment is not allowed in this supermarket but it should not be the case as both cash as well as credit facility should be made available to the customers so that the customers can avail the services with whatever resources possible.
Discount coupons too are not accepted in this supermarket which ultimately makes the customers unhappy of the fact they cannot save money which becomes necessary while making bulk purchase.
Substitute products that are made available may not be applicable as well as not useful as far as the actual product which the customer asked for.
The shareholders of TESCO should have the complete knowledge of the company and should ask the questions at the annual general meeting regarding the problems faced by them so as to sustain in the market (Plimmer, 2010). Some of the ultimate questions that need to be given proper consideration are as follows:
Payment procedure of TESCO has been in the scandal when it was found that various accounts are indulging in fraud practices in getting the payments from the suppliers. Some of the significant changes result in having a huge impact on the financial position of the business enterprise. It is rumoured that this company is giving rise to deferred prosecution with the SFO (Raj and Varghese, 2012). Shareholders should make effort to reduce the threat as far as possible and look into the matter to maintain the profitability of the firm.
TESCO indulges its business activities in the retail sector and it has a debt of over 22 billion Euros which will make the company suffer from decrease in sales and credit rating as a matter of fact. Credit rating can be up to the mark if TESCO can attain another 5 billion Euros to solve the issue to sustain in the market.
Stakeholders invest a large chunk of money in the business so they are liable to get the accurate information so that all their doubts are clear after the presentation of the data. Graphical presentation will attract the shareholders to have a clear view of the company’s policies and procedures (Raj and Varghese, 2012).
Pie chart is very easy to understand which will ultimately help the shareholders to understand each slice of pie which will represent a variable and its distribution structure. Bar chart as well helps in understanding the value in horizontal format which will help the shareholders to understand the attributes of distribution at a better manner which is not possible if it is done on a theoretical as aspect (Sinclair, 2012).
The shareholders are the real owner of the company as they give a lot of money to run the business activities so the presentation made for them should be more attractive so that they feel like investing more in the business and make effort to expand its activities to reach the success of the business enterprise. The data should be more concise and to the point which can answer all the questions regarding the products as well as services which are made available in the market.
TESCO is a company which has its presence in UK mainly in the retail sector. The pie chart shows the different variable in single pie which actually signifies various other companies indulging in the same business practices (Tesco, 2012). TESCO is shown as 25.4% share as a whole in the retail sector so it can be said that it is the market leader of this particular business. This company also have the buying power of small shops which is their marketing strategy which makes them to sustain in the market along with its competitors. The next position is taken over by Sainsbury which actually is bought by TESCO which made them the king of the particular retail sector.
The following bar graph helps in understanding the TESCO‘s revenue of two years so that a comparison is possible between the operating profit and net profit. In the year 2009, it can be seen that the revenue of this business is slightly lesser as compared to the revenue which came in the year 2010(Tesco, 2012).
Next, operating profit tells us the profit which is incurred by the company over the current period and can be compared with previous year to know the actual profit earned by the company. The year 2010 made a slighter increase in the operating profit as compared with the 2009(Thu Nga and Binh, 2012). Net profit also is the same case because it shows an increase in the year 2010.
The overall overview can make it clear that the year 2010 was better and has an increase in the revenue which is good for the company as a whole and efforts should be made to be better with the aim to earn more profits in the near future(TSUKUBA and TAKACHI, 2010).
Conclusion
This study reflects the impact of human resources in gathering information regarding TESCO which are basically deals with FMCG products and has supermarkets all over the world with the aim to satisfy the needs as well as wants of the consumers.
Research proposal has been made to implement the online services for this company whereby the customers will be benefited and can enjoy the online services at a much lower cost. Large variety of products is possible to view as well as alternatives will be available. Payment pattern is easier as individual can use the debit card for the process which will make them hassle free in carrying the cash. Time will be saved as the individuals do not have to visit each and every store to view at the various products which is tiring as well that can lead to even irritation for shopping. Online shopping makes the life of the consumer more happy and content.
Reference list
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