This assessment will cover the following questions:
- Critically explain the industry lifecycle of the Tesco organisation and provide the existing corporate strategy.
- Tesco is the UK based retail supermarket. Prepare board crisis action plan for natural disaster of unforeseen events.
- Generate the various techniques of the data collection in respect to conduct research into the complex issues in the Tesco.
Corporate Governance is basically a set of rules, regulations, procedures and practices by which an organisation is directed and controlled. It is used by industries for maintaining the balance among shareholders, investors, management, customer, suppliers, financiers, government and the community (Taylor, Bogdan and DeVault, 2015). It supports organisation in organising action plan in order to achieve the objectives of firm. The governance also helps in measuring performance. It works on the principle of fairness, accountability, responsibility and transparency. Company who are engaged in performing corporate governance provides protection to shareholders, communities and involve in doing fair dealings with them.
This also support various organisations in increasing their efficiency. Productivity is also been raised by the use corporate governance and strategies. But there also some key issues which organisation can face such as industry might go through problems while managing risk when establishing corporate governance. Problem can also occur related to privacy and data protection. Present study will highlight the key issues face by Tesco while implementing corporate governance.
Main aim of the research is to evaluate the key issues faced while establishing corporate strategies and governance: A case study on Tesco.
In order to provide answers to the problems arisisng while implementing corporate governance and strategies following objectives are taken into account:
- To identify the key issues faced while establishing corporate governance (Aguilera, Judge and Terjesen, 2018).
- To recommend strategies for successful implementation of corporate governance.
- To assess the role of corporate governance in attainment of growth to organisation.
The reason to carry out this research is to make Tesco overcome the issues which they can face while implementing corporate governance and strategies in their organisation. It will assist company in acknowledging the fact that successful implementation of this can help them in making a good image in the market. This will help them in increasing brand value.
Scope of research
The research study includes limited number of participants. It was based on interviewing the employees and board of management members of Tesco.
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As per the view of Tricker and Tricker, 2015 corporate governance and strategies are based on ethical code of business. These principles allow freedom to all the employees working in an organisation. Tesco uses corporate governance and strategies to provide fair treatment and equal right to shareholders. This creates a bonding of trust between stakeholders and company. They provide opportunities to resolve grievances which they face while doing business with firm. Also, issues such as management of risk is managed by Tesco while designing products and services according to the needs and demands of customers. They also do it by market analysis and satisfying their shareholders, financiers, consumers and suppliers. Independent directors of the industry are engaged in assessing risk and implementing policies, procedures, rules and regulations according to that.
In accordance to Aguilera, Judge and Terjesen, 2018 corporate governance and strategies also strengthen the transparency. It means that all the relevant information related to activities and task done by Tesco is been shared with their employees, shareholders, customers and investors (Issues in corporate governance, 2018). This creates a strong bond and healthy relationship among board of management and other people. But also been more transparent can increases the risk of reduce privacy and hacking of data. For managing this firm is engaged in developing software and establishing advancing techniques or technologies to have privacy. Policies related to risk management are framed by firm. It increases privacy and also they can save important data from hacking.
As per the opinion of Madsen and Walker, 2015 the key aspect of risk management is maintaining and securing data and confidential information related to shareholders, investors, financiers, consumers. Tesco is engaged in assessing potential risk by doing market research and analysis of the factors that can bring harm to them. This will help them in gaining competitive advantage. However, if risk is not been managed and data is not been secured it can hamper the growth aspects of company. For corporate governance to be effective firm must be involved in mitigating and assessing risk and develop potential policies related to it. This can also help them in gaining competitive advantage.
In this part, discussion will be related to tools and techniques that will be used for the purpose of collecting, analysing and evaluating data whose nature is different. It is an important chapter as it assists scholar in creating ways from which they are able to collect sound inferences from conducting present study.
Research approach allow scholars in making use of most suitable techniques to successfully conduct study. It also helps in determining ways through which data will be collected and analysed (Larcker and Tayan, 2015). Considering the nature of the study, inductive approach will be used and information will be gathered from selected respondents. It will help in gaining knowledge about issues arising in implementing corporate strategy and governance.
It act as a blue print as it help scholar in conducting research in an appropriate and specific manner. Descriptive design will be used in the present study. Descriptive design involves description of subject matter on the basis of different key variables. It will be taken into account so that actual issues arising while implementing corporate governance and strategies can be acknowledged.
In this population will be divided in sample. Population which will be studied are employees and board of management members of Tesco. Simple random sampling method will be used. 25 workers will be selected to conduct the present study. This method will be selected so that their exist no biasness in the study and random employees get equal chances.
Research Philosophy which will be used to conduct study are interpretevism in nature. Questions will be answered and objectives will be achieved on the basis of theories that has been selected (Madsen and Walker, 2015). Interpretivism philosophy determines that not every set of inferences can be obtained from available facts and figures, therefore, same has to be articulated from different viewpoints
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Primary data will be collected through questionnaire and survey method. It will be selected to gain authentic and reliable data. Secondary data will be gathered by reviewing various journals and articles.
Data collected is qualitative in nature. Thematic analysis will be used in the study. It selected to identify and record reliable data.
To conduct this study, two month time will be needed by researcher.
Research activities to be conducted
Making aim and objective
Selecting research methods
Analysis of data
Conclusion and recommendations
- Tricker, R.B. and Tricker, R.I., 2015. Corporate governance: Principles, policies, and practices. Oxford University Press, USA.
- Aguilera, R.V., Judge, W.Q. and Terjesen, S.A., 2018. Corporate governance deviance. Academy of Management Review.43(1). pp.87-109.
- Madsen, T.L. and Walker, G., 2015. Modern competitive strategy. McGraw Hill.
- Larcker, D. and Tayan, B., 2015. Corporate governance matters: A closer look at organizational choices and their consequences. Pearson Education.
- Filatotchev, I. and Nakajima, C., 2014. Corporate governance, responsible managerial behavior, and corporate social responsibility: Organizational efficiency versus organizational legitimacy?. Academy of Management Perspectives. 28(3).pp.289-306.