1569907096323_AC (1).docx - Developing Strategic Management and Leadership Skills Contents Introduction.2 AC 1.2.3 AC 1.3.3 AC 2.1.4 AC 2.2.5 AC 3.1.7

1569907096323_AC (1).docx - Developing Strategic Management...

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Developing Strategic Management and Leadership Skills
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Contents Introduction ...................................................................................................................................... 2 AC 1.2 .............................................................................................................................................. 3 AC 1.3 .............................................................................................................................................. 3 AC 2.1 .............................................................................................................................................. 4 AC 2.2 .............................................................................................................................................. 5 AC 3.1: ............................................................................................................................................. 7 AC 3.2 .............................................................................................................................................. 8 AC 4.1 .............................................................................................................................................. 9 AC 4.2 ............................................................................................................................................ 10 Conclusion ..................................................................................................................................... 10 1
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Introduction Tesco’s headquarter is situated in Chesnutt, United Kingdom. It is considered as the third-largest trader company globally in accordance to the measurement of revenue and second-largest company according to the measurement of the profit. It has situated in all over 14 countries including North America, Asia and Europe and it is the leading grocery market in Malaysia, and United Kingdom ( Warrick, 2011). In 1919, Jack Cohen established the company and inaugurated its first store in 1929 in Middlesex, Burnt Oak, Edgware. The sources of the name Tesco came after the purchasing of a shipment of tea from T.E. Stockwell by Cohen and mixed those elementary with the first two letters of his surname. Tesco being a UK based grocery retailer has variegated not only physically but also into many areas i.e. retailing books, furniture, books, electronics and petrol and software; as well as many services such as financial, internet and that of telecoms. There are many reasons to choose Tesco, for this assignment. Among Britain’s fastest up warding and advanced retailer Tesco is one of the most leading companies. Employee of this company are benefited by clear objectives and expectations at the same time they also permit freedom in people’s initiative. In comparison to the other retailing companies it is their professional touch that differs them from other. Explain the link between strategic management and leadership Before presenting the link between strategic management and leadership it is obvious to get a clear idea about what these two terms actually mean. After that it will be an easy task to explain the difference between two terms (Rodd, 2012). Strategic management acts as a tool of organised development of the assets of functional areas including manpower, manufacturing, technology, financial and marketing etc. in the accomplishment of its object it is the conduct of the all of the entity assets. Strategic management is a collection of policies taken by the senior management which helps to guide the path and choice of the entity. Besides, it depends on the atmosphere on which the company operates. On the other hand, leadership is the act of guiding the organisation into a result that is accepted by every member of the group. There should be a good understanding between the 2
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leader and the rest of his team to control the capability and to articulate the vision and the ultimate goal. Leadership is considered as a facet of successful manager. So, leadership can be defined as an element for inspiring staffs to reach to the ultimate goal (Whetten, 2011). Though these two terms are interlinked there are some minor differences between them. In order to explain the relationship between the strategic management and leadership it can be asserted that Management principally depends on the investigation ground realities and Leadership is an art to perform things by the inspiration of the leaders on their employee. In case of Strategic
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