Managing a Successful Business Project Assignment 4th Sample

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Introduction Of Managing a Successful Business Project

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Any organisation is set up to achieve some goals and objectives. The ultimate aim of achieving goals and objectives is to achieve success and to earn profits. The organisation targets to achieve success efficiently and effectively. For an organisation to get successful, the management should be proper. There are various types of management in an organisation. The managers lead the operations of the different departments at different levels. This assignment focuses upon the management of the organisation named Tesco, which is a successful organisation in the United Kingdom. Being a multinational organisation, the organisation operates in 11 countries, including Malaysia, Ireland, Thailand, etc. Founded by Jack Cohen, it is considered the world's third-largest retailer and operates in four different formats: hypermarket, convenience shop, supermarket, and superstore. This assignment will focus on the social, environmental and economic impact and influence on the United Kingdom. In today's era, globalisation is becoming a key component to success. The assignment will also look into the different aims and objectives of the organisation and will relate them to the management of the company. A project management plan will be made to guide the organisation Tesco towards success systematically.

LO 1

Projects aims and objectives of Tesco organisation

Tesco, a supermarket chain in the UK, consists of several aims and objectives, including serving the customers the high and standard quality products and services. The priority goals and aims of this organisation include: -

  • To reduce the environmental impacts of products and services.
  • To minimise the quantity of waste, reuse things as much as possible, and encourage the customers to recycle the waste (Turner, 2014).
  • The development, implementation, and operation of designs required stores and distribution centres to enable business growth and achieve customer satisfaction by reducing environmental impacts.
  • To identify and frame the cost-effective targets for solving out the environmental issues.

The vision of Tesco states to become the most highly valued business by the communities in which the company operates, and the customers served by them, shareholders, and committed and loyal employees. Tesco's main objective is to become the leading supermarket in the retail sector by offering good quality products and services at a price lower than the competitors for winning the competition. It understands how to satisfy its customers and how to earn a higher amount of profits. Various choices are made available to many customers with the great quality of products to increase sales revenue. This will grab the customers, and the shareholders will be satisfied as they will get higher returns. Tesco must build up the strength and fastest delivery process to its consumers, which will enable consistency in the working and growing of the organisation (Turner, 2014).

Project management plan of Tesco Organization

A project manager develops the Project Management Plan, a formal document describing the project execution, controlling, and monitoring. It includes the various management plans and policies necessary to be implemented to accomplish all the goals and objectives. The project manager must efficiently control this project plan to check whether the goals are achieved accordingly or not. This plan comprises the following components, namely: -

Cost: - Tesco focuses not only on the efficiency of products but also on cost reduction measures, which will help them continue developing and investing and provide the shareholders with the return on their investment (Zwikael, 2016).

Scope: -It should be specific, relevant, measurable, and achievable. Tesco owns more than 6800 shops worldwide, of which 440,000 colleagues are working. The company is trying to retain its position and status in the UK market and expand its market share globally.

Time: -The projects are temporary; once they are completed, they are terminated. Every project has a time limit to be followed by the organisation. Tesco also sets the time limit for the particular project or plan to be completed or achieved.

Quality: -Every project specifies the standard quality required to be maintained by the organisation. Tesco emphasis more on quality products. It develops the strategies to meet their standards, and the quality control measures are also implemented in case of any deficiency.

Communication: -The projects must include regular and proper communication not only to employees but also to the company's stakeholders (Zwikael, 2016).

Risks&resources: -Analysis of risks is essential and complex, which is needed to be identified and managed so that the resources can be effectively and efficiently utilised. Tesco knows how to manage human resources, which is why it deals with almost 440,000 colleagues and millions of customers every week(Zwikael, 2016).

Work-break down the structure and a Gantt chart: -

The Work Break Down Structure refers to dividing the complex projects into order to make them simple and manageable tasks. According to this, the project execution is simplified, and much larger tasks are being divided into smaller tasks that are very easy to supervise and achieve. The responsibilities are accurately assigned to the project team. It helps estimate cost, evaluating the time and risks involved. Also, it enables the deep illustration of the project's scope so that the stakeholders must have adequate knowledge and proper understanding of it.

Activities

Start Date

End Date

Duration

Research

1st October 2018

6th October 2018

6 days

Execution of Application

7th October 2018

9th October 2018

3 days

Training of Employees

10th October 2018

20th October 2018

11 days

Functional Analysis

21st October 2018

27th October 2018

7 days

Testing and Evaluation

28thOctober 2018

31st October 2018

4 days

The research activity incurs £1500 with about 10 people. The activity of application execution requires 4 people along with the cost of £4000. In the training of employees, £12000 is required with 4 people as trainers. Functional analysis is a simple process that involves 3 people and costs about £1500. In the last activity of testing and evaluation, cost of £800 and 3 people is needed.

The comprehensive plan must include sound strategies consisting of clear objectives and strategic decisions that directly link to accomplishing organisational goals. All those assumptions must be included under this plan which may influence the projects (Rivera and Kashiwagi, 2016). All the risks must be analysed related to the project, and possible measures must be taken to eliminate those risks. The project management plan of Tesco aims to maximise the number of customers by providing them with extreme quality goods and services at reasonable prices.

The management department plans all the necessary projects which contribute to the accomplishment of Tesco's goals and objectives. It formulates the various cost-effective policies because of which customers can receive goods at reasonable prices, and the waste is eliminated with the proper cost-effective planning (Rivera and Kashiwagi, 2016). Every project must be accomplished within the standard time because the huge competition prevails in the growing market. Controlling is essential to detect the deficiencies during the project implementation, and also coordination must be ensured between the various activities and operations to complete the tasks efficiently. All the necessary risk factors must be identified to earn higher profits, as said that "no risk, no gain'.

LO2

Small-scale research with qualitative and quantitative methods

In the words of the author, Young & Hren (2017), qualitative research methods can generate comprehensive details of mechanisms or processes. He added that being a broad approach passes through different research methods, including systematic information gathering and its correct interpretation. According to the author, Mason (2013), qualitative research has emerged out of numerous disciplinary and intellectual traditions and lacks a set of techniques. As per the author, Yilmaz (2013), quantitative research methodology defines as the process of determining phenomena based on numerical data, further analysed by statistics or other mathematically based methods.

Tesco's small-scale research includes both qualitative and quantitative methods for achieving the defined goals and objectives of the company. These methods are complementary and can be combined in the processes to get better results.

Quantitative research is used when there are numbers or mathematical expressions. It is designed to collect cold facts and data (Mason, 2013). This research provides support when there is the need to draw up general conclusions. The quantitative information is structured and statistical. Data is collected may in the form of questionnaires and numeric forms and then interpreted.

Qualitative research consists of describing particular topics rather than measuring them. The qualitative survey includes expressions, views, and opinions; it is less structured than quantitative research. It is done to motivate the people, their thinking, nature, and attitude and develop an interest in the products of Tesco's supermarkets. This research requires a deep understanding of conducting the survey.

Both the methods are equally needed to meet the customers' needs and demands and fulfil them effectively. The data must be gathered in numeric and qualitative terms. The number of demands can be met, and the customers' nature and attitude can be identified, directly contributing to achieving goals and objectives (Young and Hren, 2017).

The various research methods which are applied to accomplish the various projects and plans are reliable to a great extent as the qualitative aspect helps in understanding the human behaviour, which adds up to satisfying the customers' demands and also influencing them to retain themselves with the organisation and purchase more and more in numbers, which comes under the quantitative aspect. The quantitative aspect enables the organisation to identify and measure customers' increasing demand and trends (Walker, 2015). The data from quantitative research provides important information for making the business decisions like market size and preferences and demographics. In contrast, qualitative data is utilised in designing the products consisting of various needs and business patterns. When the applications of both the research methods are understandable, they can be used together as a tool to measure and evaluate the organisation's operations and to check the standard quality of the ongoing activities. This evaluation and measurement can help in the achievement of organisational objectives.

The project management process uses systematic analysis to gather the data and influence the effectiveness and efficiency of the organisation's operations. Tesco's objective is to gain a maximum number of customers and provide them with good quality products at reasonable prices (Hussein, 2015). The management process includes the phases of planning, implementing, completing projects, and delivering the reports. Hence, Tesco needs to follow up on all these steps to make smooth running possible in the management. The tasks and the resources must be properly monitored and controlled by the departments to increase efficiency. The qualitative and quantitative methods help increase the customers' satisfaction and also good relations must be made with them which will directly move in the way of increasing profits. There are some advantages and drawbacks of both methodologies.

The advantages of the qualitative method are-

  • A greater evaluation is done of the subject matter
  • The nature of the research framework is more flexible
  • This data is based on human observations and experiences
  • There is a predictive quality to the gathered data (Marchewka, 2014)
  • Attitude explanations become possible

The disadvantages of the qualitative method are-

  • The quality of data is highly subjective
  • The accessibility of data rigidity becomes more difficult
  • This method is more time consuming
  • Data are difficult to present

The advantages of the quantitative method are-

  • Formulation of sound data with no emotional design
  • Rigorous evaluation of data as prediction is permitted
  • Multiple data can be evaluated (Larson and Gray, 2015)
  • Faster automation of the time-consuming manual

The disadvantages of the quantitative method are-

  • Needs continuous monitoring of the model performance
  • Multiple complex data requires a deep background
  • Survey instruments are helpless to errors (Marchewka, 2014)
  • Measuring phenomena in some cases like human behaviour is a bit tricky

LO3

Research and data using appropriate tools and techniques

Data analysis is transforming, checking and modifying data to develop useful information, conclusions and decision making. It plays an important role in decision making and helping the business achieve its objectives. Various tools and techniques are used for data analysis (Brannen, 2017). The following questionnaire was utilised for surveying to collect data.

There would be a very efficient use of the random sampling method in processing the research work in the business. Though, the study would be much interesting by having the presence of graphs, charts and varied tabular data.

The conduct of the questionnaire would be done having the inclusion of the major questions would be accessed in a better manner by the respondents. Though, it would help in better decision making.

Questionnaire:

  1. How satisfied are you with Tesco?
  • Completely satisfied
  • Satisfied
  • Neither Satisfied nor Dissatisfied
  • Dissatisfied
  • Completely Dissatisfied
  1. How often do you utilise the products and services of Tesco?
  • Everyday
  • Weekly
  • Monthly
  • Once in a Quarter
  • Do not use
  1. How old are you?
  2. Which is the best product and service range of Tesco?
  • Grocery
  • Tesco Club card
  • Clothing
  • Tesco Bank
  1. Please rate the purchase experience with Tesco.

1. Excellent

2. Worst

3. Average

  1. What is the worst-performing product or service of Tesco?
  2. How well do the products or services of Tesco meet your needs?
  • Badly
  • Satisfactory
  • Very Well
  1. Should Tesco introduce new products or services?
  • Yes
  • No
  1. Which product range of Tesco should be expanded?
  • Electronics
  • Clothing
  • Food Products
  • Health and Beauty
  1. We would love to know the feedback from you.

Analysis of Questionnaire: approached

The survey was conducted with about 400 customers within the targeted market. Out of 400 people, 320 people actively responded to this survey, which helped the organisation gather data.

Question 1

Satisfied

260

Dissatisfied

60

Neither Satisfied nor Dissatisfied

0

Completely satisfied

0

Completely Dissatisfied

0

Data Interpretation: From the above represented, it is determined that immense and the majority of the individuals in the company are satisfied with the company's products and services. It is growing in the positive aspects in the business.

Question 2

Everyday

220

Weekly

50

Do not use

40

Monthly

10

Once in a Quarter

0

Data Interpretation: The above-represented graph has given a clear picture of the use of the tools and the company's tactics at a certain period. It had determined that maximum of the people is having the use of the products and the services on the everyday aspects. And very certain is having the use on the weekly or the negative aspects.

Question 4

Grocery

230

Tesco Bank

40

Tesco Club card

10

Clothing

40

Data Interpretation: This graph had dealt with the aspect of determining the best product of Tesco and determining the number of the population having the use of the same. Most of the people e are using the products dealing in the grocery in more numbers, and few are there using the advantage of the banking items.

Question 5

Excellent

210

Average

90

Worst

20

Data Interpretation: This graph had successfully determined the customers' experience having the use of the services of Tesco. Most of the people have the excellent advantage of the services.

Question 7

Very well

270

Satisfactory

40

Badly

10

Data Interpretation: The above-represented graph shows the extent or the level to which the products and the services of Tesco meet the customers' needs in the competitive market conditions.

Question 8

Yes

260

No

60

Data Interpretation: This graph determined the level or the aspects of whether the company would be having the introduction of the new products in the market. Most people expect that there will be the introduction of the new product at the very recent phase.

Question 9

Clothing

190

Food Products Worst

40

Electronics

60

Health and Beauty

30

Data Interpretation: The above-represented graph shows the aspect of having the expansion of the organisation's products. It had represented that the people expected that there would be more expansion on the aspects of the clothing industry.

Analysis of Questionnaire:

This questionnaire was conducted for the customers about their views regarding existing and new products and their satisfaction with the company and products. As per the results, 80% of people are satisfied with the organisation, and more than 65% of people utilise its products and services daily. 55% of people find grocery as the best product range, while 86% want product expansion in food.

  1. Analysing Quantitative Data

Data Preparation: - The first step of analysing data is data preparation. It converts the complex data into meaningful, readable and easy to understand.

Data Validation: - The purpose of data validation is to determine whether data is correct or not. It has four steps: -

Fraud: - To check whether the information is correct.

Screening: - To ensure that responses were selected according to the searching criteria.

Procedure: - To check whether data collection is according to the systematic process or not.

Completeness: - To ensure that the data is completed or not.

Data Editing: - The large data set includes errors. While editing the data, it is important to remove or fill the empty fields. To ensure no such errors, one should check the data.

Data Coding: - It is one of the important steps in preparing the data. It refers to data grouping so that the researcher can easily deal with the data rather than doing it one by one. It provides coding to the data (Brannen, 2017).

  1. Analysing Qualitative Data

Data preparation and analysis: - It consists of the following steps:

Getting familiar with the data: - In this, the researcher should start by reading the data several times to understand it very easily and start looking for basic patterns.

Revisiting research objectives: The researcher rechecks the objectives and identifies the questions that can be answered through the collected data.

Developing a framework: - It means coding the information. The researcher identifies broad ideas, concepts, phrases or codes assigned to him.

Identifying patterns and connections: - Once the data is coded, the researcher can start identifying themes, data or patterns that can help in researching the questions and finding the data (Nardi, 2018).

There are also other methods:

Content Analysis

Narrative Analysis

Disclosure Analysis

Grounded Theory (Nardi, 2018).

For data collection through surveys regarding research for Tesco, 320 responses have been recorded in total. Since the working hours are limited, 64 responses were recorded per week. Every week 5 days were dedicated to the data collection, and every day 4 hours were dedicated to the data collection. Talking about the data analysis, the responses were fed into MS Excel once the data collection ended. It was a time-consuming process as it took 2 days to feed the data in Excel (working 4 hours a day). Once this was sorted, the data analysis took the next 3 days. The next week was dedicated to making inferences from the data analysis. In total, the data analysis took 2 weeks.

Appropriate recommendations as a result of research and data analysis to draw valid and meaningful conclusions

The study of quantitative and qualitative methods is the theoretical approach. In real-life situations, complete information is required. It has been seen that there are variations in the data which is collected by qualitative methods because of the semi-structured or unstructured techniques. Lack of information can be one of the drawbacks that have been realised in this project research. The questionnaire has been adopted in the research for data collection purposes. However, the questionnaire has not provided complete and honest information as participants don't need to be truthful. It was also realised that not all the targeted customers responded actively to the questionnaire. This shows that the data collected from the questionnaire is incomplete and lacks accuracy.

Therefore, in real-life practical situations, Tesco is recommended to utilise both methods so that there is an availability of complete information. Tesco should also utilise the quantitative method for eliminating the variations obtained in the data collected by the qualitative method. It is because structured data can be collected using the quantitative method only. Apart from this, Tesco should utilise other research methods, such as the utilisation of secondary data, including company accounts, organising focus group discussions, interviews and observations for collecting genuine information. Tesco should also understand that both methodologies give a comprehensive and clear picture of the occurrence (Kerzner and Kerzner, 2017).

There are some appropriate tools and techniques as secondary data that will justify the recommendations:

  1. Newspapers: - It is an important tool that can be used to check whether our information is genuine or not. Various articles are helpful to find whether the data is relevant or not (Nardi, 2018).
  2. Magazines & Journals: -

They also play an important role in checking the authenticity of the data as there are various blogs mentioned in the magazines.

  1. Questionnaires and Surveys: -

These are also important ways for checking the data. In this, the results are generally easier to analyse. Through the numerical values, it will be easier to read.

  1. Observations: -

It is a good source for providing additional information about a particular group. It produces narrative data (Nardi, 2018).

  1. Documents and records: -

It consists of checking the data in reports, financial records, newsletters, etc.

  1. Focus groups: -

It includes the combined opinions and perspectives. Responses are coded into categories and analysed systematically.

LO4

The value of researching to meet stated objectives and own learning and performance

I conducted the research using both methods that are qualitative and quantitative. This mixed research methodology provides some benefits and values of research to meet the objectives and aims. The main aim to undertake research is to gain knowledge about a particular subject. It is a tool that builds knowledge and facilitates learning. When I researched, I learned about the various experiences of the different types of people. Everyone has a different perspective regarding a particular thing (Litosseliti, 2018). When the knowledge is upgraded, it helps in achieving the objectives. When I conducted the research, I practically came across the different issues which come as a hindrance while achieving success in the business. The research proves to be an aid to business success as it helps remove the issues that arise between the performance.

Conducting research brings out several facts, which helps in knowing the truthfulness and hidden lies related to a particular topic. Research helps in finding new opportunities related to the business. Tesco has its branches located in different parts of the world. People have different tastes and preferences according to their region and culture. Conducting the research helps in understanding different needs and preferences. When the customers' demands are satisfied, the ultimate objective and goals of the organisation are fulfilled. Conducting research provides a lot of data. After analysing the data, various alternatives are derived amongst whom the best solution is chosen. The research has some social benefits also. As a project manager, I must ensure that whenever we start with a new organisation or expand the business, it should be highly ethical. We are socially responsible towards the business and society as a whole (Litosseliti, 2018).

Whenever a business is started, it has some aims and objectives. A project management plan is made. The Project Management Plan is a formal document describing the project execution, control, and monitoring. It includes the various management plans and policies necessary to be implemented to accomplish all the goals and objectives. Therefore, the objectives and aims are chosen first in a project management plan (Hussein, 2015). Quality research is done by using both the method that is quantitative and qualitative. Using both methodologies produce valuable outcomes as there is no lack of information. Here, the project manager has to identify the management plan's objectives before conducting any business process plan.

This assignment aims to recognise the social, environmental and economic impact and influence on the countries hosting the branches of Tesco. A breakdown is made to make the work easier for the project manager, which will assist the managers and leaders in making the decisions accordingly. The project management process involves a project management plan which briefs about the steps to be followed while choosing the best alternative in the business. Good research work helps achieve the milestone of development and growth (Hussein, 2015). Hence, the mixed methodology is used to provide better and comprehensive results and ultimately meet the firm's objectives effectively and efficiently.

After conducting the research and later analysing the data, the researcher has concluded that if the company is highly ethical, then the relation amongst employees and the relationship between employers and employees get improved. As a result, harmony is maintained in the organisation. Working in harmony will ultimately improve the productivity level of the workers and improve the organisation's production process (Litosseliti, 2018). The research also suggested that if the organisation works legally and ethically, it will help the organisation to grow and expand more rapidly. It will help the organisation fight and survive in the market for a longer period. When the organisation becomes socially responsible, it helps the organisation sustain longer in the market and achieve success and growth in the long run.

Conclusion

This assignment was all about the organisation Tesco. It is a multinational supermarket, and this assignment projected the economic, social and environmental impact and influence on the host countries where the organisation has its branches. This assignment discussed the project management plan and the breakdown structure. Quality research was also conducted, which involved both the methods of research that are quantitative and qualitative research. Some advantages and disadvantages of both methods were discussed while critically evaluating the project management process and methodologies. The mixed research methodologies were used to achieve the aims and objectives of the business. The personal gains and knowledge while conducting quality research were also discussed. The project management plan and the research outcomes were analysed and evaluated to reach the best possible alternative out of the various solutions derived.

References

  • Brannen, J., 2017. Mixing methods: Qualitative and quantitative research. Routledge.
  • Hussein, A., 2015. The use of triangulation in social sciences research: Can qualitative and quantitative methods be combined?. Journal of comparative social work, 4(1).
  • Kerzner, H. And Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
  • Larson, E.W. and Gray, C.F., 2015. A Guide to the Project Management Body of Knowledge: PMBOK (®) Guide. Project Management Institute.
  • Litosseliti, L. Ed., 2018. Research methods in linguistics. Bloomsbury Publishing.
  • Lloyd, G., 2016. Business Leadership for IT projects. Routledge.
  • Marchewka, J.T., 2014. Information technology project management. John Wiley & Sons.
  • Mason, J., 2013. Qualitative Researching. SAGE Publications.
  • Nardi, P.M., 2018. Doing survey research: A guide to quantitative methods. Routledge.
  • Rivera, A. and Kashiwagi, J., 2016. Identifying the State of the Project Management Profession. Elsevier, 145, pp. 1386-1393.
  • Turner, J.R., 2014. Handbook of project-based management(Vol. 92). New York, NY: McGraw-hill.
  • Walker, A., 2015. Project management in construction. John Wiley & Sons.
  • Yilmaz, K., 2013. Comparison of Quantitative and Qualitative Research Traditions: epistemological, theoretical, and methodological differences. European Journal of Education, 48(2).
  • Young, B. and Hren, D., 2017. INTRODUCTION TO QUALITATIVE RESEARCH METHODS.
  • Zwikael, O., 2016. International journal of project management special issue on "project benefit management".

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