OPERATIONAL MANAGEMENT

Operational Management

Table of Contents

Part A: Managing Finance3

Financial Management3

Cash Management4

Risk Management5

Cash Flows7

Part B: Managing People8

Personnel Management8

Human Resource Management11

Customer Relationship Management15

Part C: Managing Information16

Management Information System16

Decision Support System18

Executive Support System19

Warehouse Management System19

Conclusion21

Operational Management

Part A: Managing Finance

Financial Management

Under corporate financial management, the entire process planning and control is understood regarding the use of financial resources. The main task is income and expenditure, whenever possible, to be aligned, that the use of debt financing (e.g. loans) can be omitted. Thus, financial management can be fully effective, it is necessary to create a variety of analyzes. These analyzes are then substantiated the planning. The plan here includes periods of a few days to long-term periods, which can be extended to several years depending on the company. One example is the development of a new product that may usually takes two to three years to complete (Kim 2009, 78).

Financial management is responsible for preparing the financial statements and the accompaniment of the final examinations. The financial statements of Tesco have a long-term importance of visibility and are therefore it is constructed with great care. A settlement immediately after the closing date is organized and optimized for the relationship with investors and banks. The preparation can be carried out in the last quarter of the year. According to the rule, test is conducted at the beginning of the year before the auditors audit the company. The starting point is to control the company planning.

Financial management needs to value estimates for other business or to market analysis and planning for new projects are able. Same purpose in the quantitative assessment of development options for the company. It is the financial management ratio which is required to ensure that the company is not risky adventure undertakes. For the preparation and implementation of company audits (Due diligence) should be available to the tool box. Tax matters, in connection with corporate transactions are highly relevant.

The daily activities in Tesco are guided by the Oracle accounting HUB. These daily activities include inventory control, invoices, supplier details, customer details, and product details and sales and purchases ledgers. Internet control structure is provided by the Oracle financial Accounting Hub which ensures successful auditing and complied reviews. Tesco is not solely bound with the Oracle accounting Hub as an accounting structure. The company's financial structure has quick adaptation to the effective changes abiding to the requirements of the company. This means that Tesco has a flexible accounting system and finance system because of the implementation of Oracle system (Nancy 2010, 88).

Cash Management

Within Tesco, cash management is undoubtedly the key to success in the development of the economic entity. Cash management is an important part of the strategy which controls and processes the internal transfers of the property. For Tesco to be strong as an institution, it is important to allow the investment valuation of the property, project finance and other fiscal benefits.

The importance of cash management is not only due to structural and cyclical factors, but also technical and technological ...