Leadership Theory of Tesco
The mission of the Tesco is to make better that matters. Tesco’s vision comprises of five elements. They want to establish more and more branches around the world. They will establish their business as full of opportunities. Their business will be modern, innovative and full of ideas. They are using their skills globally. They are gaining trust from their customers as well as from their employees too.
Several theories have been developed to organize people within and outside of the organization for the same purpose of the business. Tesco can also adopt various leadership theories as to the demand for the situation and serve the customers.
Transactional leadership theory: There are three elements that are included in the transactional theory such as, management by exception, management by passive and contingent reward. Leaders show their trust in the employees when they apply management by exception theory. Leader sometimes fails to deliver the project on time when they apply management by passive. The contingent reward is given to the employees to make them more motivation for doing their function and also inspire for the future (Raza, 2019).
Contingency theory: This theory is related to the different variables related to the environmental factors that are enough strong to determine the suitable leadership approach for the organization. According to this theory, leadership skills are not considered to be a successful leader. Only managerial skills and abilities are considered to make a good leader (Crawford, 2014).
Situational theories: According to this theory, leaders are able to analyze and diagnose critical situations occurred in the organization and they are skilled enough to take immediate decisions on the basis of the situation. This type of leadership skill is really important for any retail supermarket such as Tesco, as they face sometimes critical situations regarding product defects or customer service. In this situation, the situational theory of leadership is needed to be applied (Crawford, 2014).
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