Business Development - Coursework Example

Business Development Business Development Business development involves a number of projects that focus at attaining growth and developing the organizational units as well as the business practices and objectives. In order these developments; different stakeholders are important (Woods, 2012, pg 998). The stakeholders both internal and external play a significant role in an organizations development. An analysis of Tesco Company and Alton Towers Resort proves essential in assessing business developments. The first focus relates to Tesco Company that started as a groceries shop in East London in 1919. Started by Jack Cohen as a sole proprietor business, the business attained developments after the entrepreneur built a warehouse and headquarter in north London. After being registered as a private company in 1932, new developments followed after floating the company’s stocks in the stock market in 1947 (Pinto, 2012, pg.13). The company continued with its expansionary zeal by buying competitors shops. By 1970, the company developed its operations and the chain supermarkets became a household name throughout the United Kingdom (U.K). The company’s reputation developed through provision of basic groceries at competitive prices. With time, the company introduced luxury goods as people earned better incomes. By 1980s, the company continued to the building new stores recording a hundred stores by 1985. The company’s vision of expansion on different consumer products continued through investing in different fields making it the largest independent retailer in the petrol industry by 1991 (Peterson, 2012, pg. 11). The company’s aims and objectives of reaching out to the wider customers ensure developing new customer-focused initiatives as well as other stores in different localities. Advancements in new customer-initiatives enhanced introduction of the customer loyalty card. Other developments ensure the company delivers the best customer products and the first company to introduce a healthy eating initiative. The healthy eating symbol branded the nutritional products thus making the company the first largest retailer to emphasize on nutritional value of the company’s brands to its customers. The company also maintains its expansion of retailing services through forming joint ventures and acquisitions. For example, the company joined with the Royal Bank in Scotland to enhance offering a variety of financial services. Consequently, the company introduced a visa card to enhance customer efficiency. The company currently offers a range of financial services and insurance services. These developments ensure the company generates increments in income and customer accounts. Through opening of different stores around the world, Tesco Company achieves its aims and objectives of reaching to customers throughout the world. Initially, the company operated in the UK but current developments shows operations of the company throughout the world. Although the company started its operations as a sole proprietorship business, developments throughout the course of operations enhanced change of ownership to a public limited company. First development saw the company become a private limited company that later developed into a public limited company. The company’s current shareholding amounts to around one hundred and sixty five thousands shareholders. The company now divides its core strategy to enhance customer outreach and satisfaction. These branches stem from core UK businesses, retailing services as well as non-food and international services. The company continues its dominance as the largest food retailer around the UK since 1995 (Pinto, 2012, pg.14). It overtook its competitors like Sainsbury’s in the food industry. It currently operates more than eight hundred stores all over Europe. Jack Cohen ensured these developments through continued savings and first opening new selling groceries in the larger East London. After floating the stocks of Tesco in the stock market, the first supermarket started its operations. Growth has not only been achieved through opening of new stores, but also acquisition of existing businesses. For example, in 1992, the company acquired about sixty stores in Scotland and more than a hundred stores in Northern Ireland as well at the republic of Ireland. The company ambitions continue and it currently aims to open more stores in the UK. However, current the current firm’s strategy focuses on opening new stores throughout the European nations. The initial organizational structure of Tesco Company comprised of a sole proprietorship business where Jack Cohen managed the operations of the business. Later developments ensured the change of organizational structure to create different functional areas. Though the company uses autocratic style of leadership, the company’s operations run under five departments. The company current organizational structure comprises of five divisions (Lorenz, 2014 pg. 69). These divisions are; finance, administration, human resource and marketing as well as research and development function. Administration of each of the divisions operates independently but with support from each other. In the smaller stores, functional areas location may be in one office. However, in the larger stores, administration dedication occurs in one office with more specialized office workers. The different departments perform specialized functions to enhance the company’s operations. First, the finance department ensures control of the company’s cash flow and finances thus enhancing the business stay solvent. Secondly, the human resources function coordinates employees through selection and hiring. Further developments that include employee training and development ensure continuity of the organization. The department ensures the right employees recruitment through scrutinizing the application forms and selecting the best candidates through measuring the right qualities. Consequently, the department maintains information and the required needs as well as the business activities. Thirdly, the market function ensures conducive marketing research (Lorenz, 2014 pg. 69). The process takes an organized process through data collection by using questionnaires and ensuring implementation of any shortcomings. Fourth, the administration function ensures organization of all business activities. Through correct organization, the company attains its set goals and objectives. The department enhances creation of an orderly working way in order to ensure all the company parties focus on achieving the company aims and objectives as well as the overall strategy. Lastly, the research and development department plays an important role in ensuring the company remains competitive through attaining sustainable long-term developments and competitive edge over their competitors. The second focus relates to Alton Towers Resort, mostly known as Alton Towers. The business comprises operates in the UK and consists of a water-park, a hotel complex as well as a theme-park. The resort ranks among the re-known theme parks in Britain (Gregory, 2012, pg 3). The aim of establishing the park relates to provision of iconic brands through delivering memorable events with the help of passionate employees. The earlier operations were on the theme-park that started operations in 1924 like the Tesco Company. Later on, developments for further attractions enhanced the opening of the theme-park in 2003. The water-park comprises a number of pools and slides that provide comfortable resting places for tourists throughout the world. Although Alton Towers started its operation at the same time with Tesco Company, the two companies took different routes in achieving growth (Morris, 2012, pg. 39). The Alton towers company began after local business men purchased Earl of Shrewsbury forming the company. The initial operations included restoring the gardens to create tourist attractions. With time, the park ensured progressive developments that included a fairground operation before 1980 when it became a theme park. Change of ownership of the company occurred again in 1990 and consecutive purchases in 2005 and in 2007 to the current owner Prestbury investment firm owned by Nick Leslau. Although Nick owns the company through his investment company, the running of the park remains with previous owners, (Merlin Entertainments) under a lease agreement for thirty five years since 2007. The company purpose at providing the best tourist attractions as well as accommodation thus the investment in different tourist attraction sceneries and hotels. Through constant reviews of the resort operations, the company ensures it maintains competitive leisure as well as visitor attraction market. Consequently, recent developments purpose indicate a long term plan that ensures investment strategy that enhances competitive nature and popularity of the resort. Though currently, the company operates as a private company, the aspirations of ensuring it becomes a listed company in the stock exchange still holds. The company now records increased profits as a result of attaining its aims and objectives. Like other business organizations, Alton Towers operations focus on the aim and objectives of the organization. These objectives focus at delivering targets through customer visits. To ensure increased customer visits in the scenery, the company has ensured construction of high level hotels to accommodate and cater for tourists who visit the Towers (Pederson, 2012, pg 27). Through integrated approach of different tourist attractions in the place, the company attracts tourists from within and outside the UK. Current customer visits increment relates to the company’s focus and achievement of its goals and objectives. Among other major aims and objectives the company focuses on include: first, developing distinctive brands that possess innovativeness and challenging nature. Secondly, the company aims to demonstrate a growth record in tourism market share. Thirdly, the company aims to engage in employee training and development that in return will ensure the employees deliver exciting experiences to the customers. Lastly, the company aims at becoming one exiting company that everybody feels exited to engage with. These aims and objectives ensure maintenance of the company direction and in result profit gain (Graham, 2009, pg. 33). Like Tesco Company, Alton Towers organizational structure follows a hierarchical format. A chief executive heads the overall company’s operations. Since the company engages in different tourists’ attraction services ranging from tourist sites to hotels amongst others, every department has a director as the head (Johnson, 20`10, pg.117). All the directors of different units report to the senior chief executive while under them, managers and supervisors report to them. These distinctive roles by the different company units ensure a coordinated set of activities thus achieving the company’s goals. In conclusion, business development of different companies may take different approach. Clear strategy and focus ensures continuity and development of every business (Gayet, 2010, pg. 219). Like with the case of Tesco and Alton Towers, Tesco Company engages in manufacturing while the other deals with leisure business. Although these companies operations started at the same year, Alton Towers took a longer time to achieve development as opposed to Tesco Company. Therefore, a company needs to ensure a clear strategy that ensures development in the long-run. References Gayet, J, & Revel, E, 2010. Business development. Paris: Eyrolles :. Graham, J, 2009, September 30)Alton Towers uses digital to reposition as a holiday resort.(Brief article).. New Media Age. Gregory, L, 2011. Alton Towers “Air”. Young Consumers: Insight and Ideas for Responsible Marketers, 59-67. Johnson, B, 2010, February 14). Cadburys Heroes links with Alton Towers ride. (News). Marketing Week. Lorenz, T, 2014, July 22. Bid to update image is first resort for Butlins.(Butlins Skyline Ltd.,). Design Week. Morris M, 2012, August 1Merlin Adds Some Magic to Launch Benefits Fairs. Employee Benefits. Pederson, J, 2012. International directory of company histories. Detroit, Mich.: St. James Press. Peterson, D, 2012, July 29. Tesco global operations solidly profitable and growing. (Tesco).(UK supermarket chain)(Company Profile).. Mass Market Retailers. Pinto, D, 2007, August 27. Tesco is here to make a difference.(OPINION). Mass Market Retailers.. Woods, M, 2012. Risk Management in Organizations an Integrated Case Study Approach. Hoboken: Taylor & amp; Francis. Read More