Tesco - Warren Buffet Lab Report Example | Topics and Well Written Essays - 1500 words

Tesco - warren Buffet - Lab Report ExampleIn an organization the agri nuance plays a vital role and henceforth the report also aims to discuss about the organizational culture that exists in Tesco. Tesco is known for its variety of culture that it holds with it and is one of the best examples to talk about when it comes to organizational culture. on with organizational culture the report talk about motivation and the types of motivational theory that is adopted by organization to motivate its employees. Motivation is high crucial and Tesco has been a leader in doing that. It motivates its employees to a actually high extend which helps it to retain the employees for a long period of time. 1.0 Findings 2.1 Entrepreneur and Skills The term entrepreneur is derived from cut word, entreprendre which means to undertake. The entrepreneur is one who undertakes to manage, organize as well as assume the risk of the business. In recent past the entrepreneurs have been doing more than the a bove mentioned task and hence the need to broaden the definition. In todays world, the entrepreneur is an innovator, developer who seems to recognize and seize the opportunities and convert into workable or marketable ideas. They subjoin value through their effort, time, money and skills and assume the risk of the competitors and implement the ideas and thereby realize the reward from the habituated efforts Kuratko & Hodgetts (20084). A generally accepted definition of entrepreneurship which was provided by Shane & Vnkataraman (1997) states, A process that involves the discovery, evaluation, and exploitation of opportunities to introduce bran-new products, services, processes, ways or organizing, or markets Baum, Frese & Baron (20076) Profile about warren Buffett Business man and investor Warren Buffett was born on 30 August, 1930 in Nebraska. He is an American business investor, philanthropist and magnate and is considered to be the approximately successful business man in the 20 century. Buffett is the chairman, CEO and the primary shareholders of Berkshire Hathaway and has been consistently bedded as the wealthiest people in the world. In the year 2012, Time magazine had ranked Buffett to be the most influential person globally (Forbes 2013). Warren Buffett is an entrepreneur by occupation also known as Oracle of Omaha and regarded as investment guru (Bio 2013). Warren possessed the skill of investing money at the chastise place and at the right time. It is very much important for an entrepreneur to analyse the situations carefully and invest. Warren had invested in Tesco and has given a boost to the embattled chief executive of Tesco, Phil Clarke and thus increased his gage in the supermarket chain (Fletcher 2012). When the share price of Tesco fell in 2012, nearly after 20 years, Berkshire Hathaway took receipts of this and thus increased its stake to 5.08% (Fernon 2012). 2.2 merchandise and marketing Mix Marketing can be be as the process whi ch is involved in communicating the value of the product or services to the customers. Marketing encompasses integrating, merging and controlling supervision of organisations effort which have a bearing on sales (Reid & Bojanic 20098). Marketing fuse constituted of 4Ps which are product, place, price and promotion and plays a vital role in move up strategy for the organisation and is a key tool in marketing. Following is the marketing mix of Tesco, retailers which deals in grocery product and