Tesco Corporate Governance Case Study Example | Topics and Well Written Essays - 1500 words

Tesco Corporate Governance - Case Study Example A quarter of Superstores have received the customer-focused improvements in key areas including car parking, trolleys, signage, counters and availability. Express offers customers the chance to stock up on shopping at their convenience at a diverse range of locations, from inner city stores such as Maida Vale, London, to villages like Yateley in Hampshire. Although on a smaller scale than larger supermarkets, it will provide a broad but carefully selected range of essential everyday products. In the stores that convert to Express, customers will benefit from lower prices, improved service, better fresh food ranges and store environment, as well as better availability, quality and choice. This will also allow Tesco to accelerate their growth in the 20bn convenience market while continuing to run the remainder as OneStop Shops. However, the profitability and growth always goes with the development of the human resource personnel. The human capital after all, continues to be the single most important capital in businesses. Thus, recognizing that they are an essential element to the success and future of providing quality differentiated services at affordable prices, Tesco had also a set of principles that promotes the growth and convenience of its employees. The Tesco Values are a set of principles that describe two work ethics such as: 'Treat people how we like to be treated' and 'No-one tries harder for customers'. Also, employee benefits such as childcare voucher scheme and Shares in Success, where staff with more than a year's service will be eligible for free shares has been devised. Customer Value is what Child (2004) would define as "the difference between the values the customer gains from owning and using a product and the costs of obtaining a product" (pp. 9). Customers usually weigh values and use the product with the best perceived value among the rest and also the product and service that will deliver them the best value. It is what makes a product and service important to them and what will eventually convince them to go ahead and avail of the service or purchase the product. It is thus the responsibility of these firms and organization to be the firm that consumers or customers believe to offer the greatest and highest customer perceived and delivered value. If firms' total customer values are perceived and delivered the best from the combination of "product, sources, personnel and image", more customers will decide to opt for them (pp. 669). Companies now face the challenge of making its target consumers respond accordingly to their marketing efforts. Those who understand its consumers' responses will have a great competitive advantage. The starting point towards this is through the stimulus-response model of buyer behaviour which involves examining the marketing and other stimuli in the consumer's black box that translates into buyer responses (Child, 2004). Marketing stimuli often consist of the four Ps of marketing: product, price, place and promotion while the other stimuli may include economic, technological, political and cultural factors which exist in the marketing environment. Child (2004) explains that the practical application of learning to most companies is that they can build a demand for a product through association with strong drives, motivation cues and positive reinforcement. Lastly, beliefs and attitudes are

Personal Behavior Towards the Negotiation Process Essay

Personal Behavior Towards the Negotiation Process - Essay Example I am a person who enjoyed negotiating. I am actually challenged every time I am in the midst of a negotiation with a person whose ideas or wants are contrary to mine. Attempting to persuade others to my point of view makes me more knowledgeable, skillful, and fulfilled, especially if the outcome is favorable to my position. I do not believe that a perfect negotiator exists because every situation involves different people, objectives, or issues. However, most of the time, I prefer the half way or the safest side of the process because I always value future relationships, and I do not want to lose everything I have. In other words, it is fine with me if I win or lose some, as long as the person I am negotiating with is winning or losing some at the same time (or moderate satisfaction). I love to bargain and get an ideal outcome, but honestly this is not an easy job because steps are not predetermined, and I have to rely on my own instinct and understanding. My Self-Assessment as a Neg otiator In terms of self-assessment, I could say that I am using a compromising negotiation style, or I am in between the competing and collaborating style every time I negotiate. Furthermore, this style â€Å"refers to behaviors at an intermediate level of cooperation and assertiveness† (Hellriegel & Slocum, 2007, p. 303). ... ays focus on details about the negotiation such as the name of the people I am negotiating with, their background, time constraints, proposals, bargaining terms, and many more. I am also very particular with events by giving my full attention to the situation; in fact, I hate the feeling of being ignored by other parties or when the opposing negotiator is changing the issue without giving his or her full attention to the matter. Hence, I consider myself as a responsible and a well-organized negotiator. Furthermore, I am a negotiator who does not give up too easily or hold out too long because I always organize a plan or set of alternatives for me to use as a counter balance during stagnant bargaining. However, I know my limitation or when to give up, and make a compromise if it is necessary. By the time the opposing negotiator has showed me some facts, evidences, or an extreme bargaining position, I know I have no other choice, but to make tradeoffs. The concessions I always make are those on the middle ground (usually moderately) or acceptable to both parties, so that the process will move forward. My Negotiating Skills I am effective in persuading others because I always put my heart and my mind to any negotiation I encounter. I also make sure that corresponding rules and policies are being followed or observed during the process. As a negotiator, I always practice when to listen and when to react, and I organize my thoughts, so that I could not say something that could annoy other parties. I make sure that I am well-prepared on what to say and what to do in every situation I might encounter by preparing or having a deep understanding of the bargaining agreement. Also, I am confident that I could persuade other people towards my point of view because I have very