Tesco (UK) and WAL-MART (U.S.)
The elements of modern management and business include human resources, operations management, and organizational behavior. The role of motivation, leadership, and communications is vital in segregating the business from its competitors. Businesses in contemporary settings emphasize on the importance of motivating employees for improvement in business performance. The role of leadership in motivating employees through effective communications is also significant. Theories concerning the motivation are discussed in detail along with the important styles of leadership. The motivational factors are observed as intrinsic and extrinsic. The leadership styles are also ranged from classical perspective of inherited leadership qualities to the contemporary theory of training and developing leadership skills based on the experience and personal capabilities of an individual. The elements of communication are also important in terms of their relevance and applicability in the everyday business settings. The effective communication is carried out through formal and informal channels based on the need and requirements of the audience. The message also carries an important role in terms of target audience. The motivation, leadership, and communication theories provide an in depth understating of the concepts and methodologies discussed in the literature review.