Business performance Essay Example | Topics and Well Written Essays - 1750 words

Business performance - Essay Example An organization showing high performance succeeds in creating competitive advantage for the company and makes the owner and other interested body happy by generating value for them. In today’s competitive environment it is not important which professional discipline utilises the obtained information. The thing which is important is the mutual interaction between the information obtained from financial accounting, human resource management, marketing and logistics. Kral (2010) developed the thought of interdisciplinary approach. All these disciplines have their own models, conceptions and terminology to conduct the performance evaluation of the organization. In order to control and mange the operations of an organization effectively, performance management is most crucial tool used by the mangers. Performance management is needed to conduct over various functional disciplines. Interdisciplinary approach is the most appropriate technique to explore the performance of the busines s as a coherent whole (Halir, 2012). This study focuses on conducting a performance evaluation on Tesco by following the interdisciplinary approach. Tesco is one of the leading retailers in the world with more than 530000 colleagues (Tesco PLC. 2013a). They conduct their business both through stores and online services. Every week they serve millions of customers. In this study the performance will be evaluated on the basis of finance, its operations and service provided to the customers and corporate governance. For every organization financial performance plays an important role since it helps in generation of value. Moreover, since Tesco is a retailer and directly deals with customer so customer satisfaction and corporate governance also becomes important. Development Operational Performance The business of Tesco follows a multi channel approach by leveraging the online expertise and existing network of stores so that the shopping trip of the customers are made easier. Tesco clai ms to be the first retailer who in 1997 initiated grocery home shopping and has grown to be the most profitable and largest online grocery retailer in the world, with sales of over ?2 billion. In order to fulfil the high demands of the customers the in-store picking model is balanced by few specialised dotcom stores. The â€Å"Click and Collect service† is the most popular and important part of the multichannel offering done by Tesco, which allows the customers to shop whenever they desire and wherever they are. For general merchandise the organization has 1500 Click & Collect service points and more than 150 grocery drives in UK (Tesco PLC, 2013a). â€Å"Finest, Everyday Value, Chokablok and Technika† (Tesco PLC, 2013a) are some of their own-label range that has gained substantial importance in strategic area. Everyday Value and Finest are the largest food brands, each of which contributes about ?1 billion to the sales of UK in each year (Tesco PLC, 2013a). Innovation takes a very important place in developing strategies to satisfy the customers. They are multichannel retailers and not just grocery stores. They deals in variety of services starting from Tesco mobile to Tesco bank to many more services like video on demand. The company has further plans of implementing larger formats inside the store so that the store becomes appealing to the customers and they get attracted to it. But this drive for innovation has lead to criticism against Tesco over how they store the email address and passwords of the customers. The software architect Troy Hunt has pointed out flaws in the website of Tesco regarding usage of poor quality