Management is like investment, its goal is to get the most out of resources, add the most value or get the best return. Management can be defined as achieving goals in a way that makes the best use of all resources. This definition covers self-management as well as managing people, being a manager. Whenever you prioritize, you are managing your time. You manage yourself and all other resources at your disposal in order to do a good job.
Boddy (2007) describes management as the activity of getting things done with the aid of people and other resources. Management is both a universal human activity and a distinct occupation. Management is a feature of most human circumstances, domestic, social and political as well as in formally established organisations.
People have developed a succession of models of management to understand and deal with current management issues. There are different approaches to management for example rational goal model, internal process, human relations and open systems. Fortunately they all come together in Quinns (1996) CVF (see appendix 1).
The CVF serves primarily as a map, an organizing mechanism, a sense-making device, source of new ideas, and a learning system. From the CVF comes a theory about how these various aspects of organizations function in simultaneous harmony and tension with one another. The framework helps identify a set of guidelines that can help leaders diagnose and manage the interrelationships, congruencies, and contradictions among these different aspects of organizations. In other words, the framework helps leaders work more comprehensively and more consistently in improving their organizations’ performance and value creation.
2.1 Tesco and Globalization
Tesco is among the largest food retailers in the world with revenue in excess of £54 billion in 2009 and employing over 470,000 people. They operate approximately 4,331 stores in 14 countries around the world. Tesco
References: Boddy, D. (2007) Introduction to Management, (4th edn). Essex: Pearson Education Ltd. p43-45 Euromonitor (2010), ‘Industry Profile – Food retailing’, Euromonitor International, 2010 National Minimum Wage (2009), ‘Low Pay Commission Report 2009’, National Minimum Wage. Available at http://www.lowpay.gov.uk/lowpay/report/pdf/7997-BERR-Low%20Pay%20Commission-WEB.pdf [accessed 20/01/2012] Tesco (2009), ‘Corporate Responsibility Report’, Tesco. Available at http://www.investis.com/plc/cr09/crr09.pdf accessed 19/01/2012 Tesco (2010), ‘Annual Report and Review 2010’, Tesco. Available at http://ar2010.tescoplc.com/en/downloads.aspx [accessed 19/01/2012 Appendix 1