Critical Examination of the change management implications the Essay

Critical Examination of the change vigilance implications the retirement of Terry Leahys (Chief Executive) will have on Tesco - Essay ExampleSince its conception, Tesco has taken advantage and tackled major changes which have contributed to its success. Many changes facing the organization subscribe to entrance of more than(prenominal) women in the workplace, big disposable income, advent of weekly shop and the cheap aliment policy which was adopted in Britain after Second World War. The Origins and Development of Change in m sensationtary Management The change in the financial growth of Tesco originates from e-commerce business activities which started in 2000 according to Finch (p184). Tesco concentrated more on its non-food business including the e-commerce business. Since then the companys market shares have rapidly and impressively ameliorate in the twenty first century. The management of Tesco since in history has been using technology for effective change. Tesco came u p with a project known as Prospect to establish the areas in which technology could improve practicable performance. The supermarket has indulged in a store-opening programmer for maintaining its military post as the leading supermarket in the UK. The departure of a caput executive from any company attracts huge expectations in as far as changes in management are concerned as suggested by Toni and Tonchia (p947). The change can positive or even unsetting one depending on the leaving chief executive influence. The retired chief executive officer of Tesco spent his career ontogenesis the organization to be the biggest grocer in Britain. However his successor Phillip Clarke, will face the challenge of either maintaining the position or braking the company. The retailer has a wide range of products ranging from food to furniture as well mortgages and aim scooters. It has several outlets including its headquarters in Cheshunt and its branches in china. Tesco customers include buyers of high-quality goods and of low-cost goods while stores range from mega-stores to corner shops. matchless of the major changes that have been encountered by the retailer since the retirement of Leahy is the financial management. Since the set up of a roast venture with Royal bank which was done Leahys predecessor, Tesco has been offering financial services. According to Anon (69), this division has rapidly grown offering services such as loans, insurance and credit cards. One of the financial changes includes the now fully owned Tesco Bank which is aiming at becoming a great competitor to other banks. So far Tesco is selling its financial products to almost six million customers. Last year, the retailer launched a range of mortgages and savings account while in the current year Tesco is planning to launch a current account. The retail organization also intends to capitalize the discontent of customers through their current jobs. A center by Liz Hartley who is principle consult ant indicates that Tesco Bank will be among the top ten best banks in the country within the next five years. However the growth of the bank is likely to cause more changes in the organization since banks are valued in a very different way compared to retailer. cay Implications of the Change to the Organization The change in financial management of Tesco has brought with it different implications. These implications include The implication of match the current cost of managerial time with the new suppliers benefits as well as how to cope with the lively suppliers. With the retirement of Leahy, Tesco financial managem