The business I have chosen to investigate was the famous UK Supermarket Tesco’s. Tesco has been in the business for a really long time and is only expanding into other services. Tesco is doing well, by the figures they are the largest supermarket branch in the UK. Technological Change New Products and Services New Markets Technological Change – As every business should be aware, in some cases there are slight technological changes which could affect the way the business runs, and because of new technology they might have to lay off a few people from their work position.
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New Markets – Some businesses may want to expand their goods and services to something else. For example Tesco started off as a small grocery store, but they have expanded on a large scale like insurance, banking and phone services. Tesco would need new employees that are qualified and highly trained in the banking area, which would mean the need of more employees in the business. New Products – If there is a new product in the business, there is a new sector in the business and there is a need of recruiting more staff because of the new product.
Sometimes new product can also mean a new market because its different from what they usually provide customers with. Workforce Skills Supply of labour Employee Expectations Employee Expectations – Employee expectations means how an employee is working, it could be permanent, full time or part time. Businesses hire people for various ammounts of time and they are aware that some employees work part time which means that they dont work as much as a full time employee.
Supply of labour – Franchise’s have their company expanded all over the world, which means that they have to keep track of where others are based and make necessary changes if something doesn’t go according to plan. Workforce Skills – In many markets and industries, workforce management is all about assigning the right employees with the right skills to the right job at the right time.
For instance Tesco has expanded not just as a supermarket, they have also opened up their own banking branch and also insurance, so they need to assign the employees who have the right skills for the job in order for a new idea to succeed. Definitions Workforce Management – Workforce Management, which is sometimes referred to as Human Resources Management, is the process of balancing work needs with available resources. Human Resource Management – Is the same as Workforce Management the process of balancing work needs with the available resources.