Role of HR Marketing & Finance Functions in TESCO

This report analyzes the role of HR marketing and finance functions in TESCO, the 3rd largest retailer company in the world. It also explores the importance of collaborative work and financial management in the company.

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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Role of HR marketing & finance functions in TESCO...............................................................3
Importance of collaborative work...............................................................................................4
Role of financial management....................................................................................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Finance and HR department work toward one ultimate goal of achieving a next level of
profitability and performance. In the context of HR managers often perform some of the duties
which are through to be financial duties. It is same applies to the chief finance officers.
This report will cover TESCO company for this case study. It is 3rd largest retailer
company in the world. This report will analyse role of HR marketing and finance in this
company. It will also conclude understanding of collaborative work and importance of
collaboration. In the end of this report will analyse financial management in the TESCO.
MAIN BODY
Role of HR marketing & finance functions in TESCO
HR Marketing
HR marketing has huge role to make TESCO successful in their business. HR marketing
aims to create positive and powerful candidate experience. This can be achieved through the
combination of the target group specific content and a recruiting marketing strategy. HR and
marketing have interrelationship with each other (Cornwall, Vang and Hartman., 2019). HR
department helps to provide training to the marketing team of the TESCO, so they can increase
skills and knowledge of the marketing team. HR department also recruit employees who are
marketing knowledge according to the needs. Marketing team ask for new members in their
team when they need. Marketing team of the company also help HR department through
marketing. They help HR team to advertise job post through the digital marketing. They find
new candidates who can work in the company and help them to achieve objectives of the
company. Marketing team also collect the informative data such as employees data, labour
turnover new market trends, which is helpful for the HR department.
Finance function
Finance management is important part of the TESCO company because they are
working on global level. International market means more money and cash flow so it is
important for the TESCO to have strong and managed finance resources. Role of finance
function in TESCO -
Control cash flow
Finance manager of the company control cash flow in the organization. Every department
in the TESCO need cash on daily basis, finance department fulfil this demand, so they can run

and make profit. Finance manger have to record every transaction of the company, so they can
see how much cash in flow and how much-needed for the activities.
Negotiate with dealers
Finance manger negotiate with the dealers when company want buy some resources in
workplace or any property for company (Finn and et.al., 2018). Finance manager will deal with
them, and they will negotiate for best deal for TESCO company.
Financial performance
Finance department of the TESCO check and manage financial performance of the firm.
They also make financial report in the end of year and show to the share holders, so they share
holders can see how company is performing in their business. It is important for the finance
department to include efficiency and wisdom of the financial planning. It TESCO is
performing bad in the past years then they should look for the improvement and increase
standard of the company through finance planning and control on the financial resources.
Take decisions
Finance department take financial decision of the TESCO company. They make budget
of the each department. They make decision according to the company's performance. If they
find that any of the department is not utilizing financial resources properly then they force them
to utilize them and make profit for the company.
Importance of collaborative work
Collaborative work is necessary of the TESCO company to take competitive advantages
and successfully reach to the number 1 position. It can possible trough the collaborative work in
the company (Hunsberger., 2017). Superiors of the company should focus on group work to
improve relationship between employees, and they can create working environment. Here are
some benefits of the collaborative work-
Increase flow of communication
Collaborative work in the TESCO will increase flow of effective communication in the
workplace. Employees can understand each other and share their information and problems to
the companies superiors. Communication can be improved if employees will work in team and
help each other to achieve common gaols. Company can create good environment for employees.
Efficiency of workers

Efficiency of the employees can be improved through the team work practices in the
company's workplace. Individual employees take more time to do any task but if employees will
work in the group then they can compete same task in very less time. TESCO should implement
group activity in their workplace so employees can increase their task efficiency and help
company to achieve objectives and goals.
Good relationship
Company can create good relation between employees by group practices. It will also
help to decrease conflicts in the workplace (Koschmann and Burk., 2016). In a organization
employees come from the different culture and places, and they speak different languages. It can
create conflicts between them. If employees will work in the team then they can understand each
other's culture and languages.
Motivation
Group task and practices motivates employees because they can interact with each other
and talk with each other. Some of the employees are new in the TESCO company can work
with them. It will motivate them because they will get chance to work with seniors of the
company.
Roles and responsibility
Collaborative work will help employees to understand their roles and responsibility in
TESCO company. Employees who are senior from the others will lead them to achieve goals
and objective the company (Sanda., 2018). They will take responsibility of their team to achieve
those goals and help company to gain competitive advantages in the market.
knowledge increment
Employees can share their thoughts and knowledge with each other through collaborative
work. New employees can gain experience from the employees who are working in TESCO
company from years. It will help them to improve their skills and potential in the task so it is
important for the TESCO to implement group- and collaborative practices in the workplace, so
they can achieve high growth in this competitive market. Employees engagement is necessary to
achieve high growth in the market and become number 1 retailer company in the world.
Role of financial management
Financial management is responsible to manage all financial resources of the TESCO
company. Without having strong financial management company cannot be successful in their

business. Finance manager of the company manager and provide cash to the different department
where cash is needed (Madhale., 2016). They make budget and find the proper sources of
finance, without finance TESCO cannot run any activity in their company. Finance manger of
the TESCO company play various roles in the company which are -
Financial planning
Finance department plaining forb the cash and take decision related to finance in the
company. They decide from where company should borrow cash according to companies
financial condition. Finance manager also calculate total cost in the activities, and they record
cash flow of the company and needs of the company in the context of finance.
financial decision and control
finance Manager know where they should use money so TESCO company can make
profit and achieve higher growth in the market. They also control the cash by making proper
budget for each department. If company need any asset then they take decision and provide cash
for asset.
capital management
It is responsibility of the finance department to arrange finance and fulfil the capital
requirement of the company time to time (Scott, and Queen’s., 2017). Capital should be managed
before the end of financial year, so company will have enough capital to start new financial
year.
Proper utilization of resources
TESCO finance manger ensure that financial resources of the company are properly
utilized or not. They manage and help other department to utilize financial resources so company
can make profit and achieve higher growth in the market.
Disposal of surplus
finance manager take decisions on how the profit and surplus of the TESCO is utilized.
They are responsible to decide that if companies dividend should be distributed and how much
as well as the proportion of the profits which must ploughed back and retained into the business.
Financial reporting
Financial management of the TESCO company hold all necessary reports which is related
to the finance of the company and uses this as the database for forecasting and planning financial

activities. Manager also show this reports to their shareholders, so they can see performance of
the company and their growth in the market. It helps them to take decision abut investments.
CONCLUSION
As per report has been analysed HR and finance function of the TESCO company. It has
been explained role of HR marketing and finance function in the company (Ward and Forker.,
2017). This report has been concluded understanding of the collaborative work and how it is
beneficial for company. In the end of this report has been analysed role of financial management
in the TESCO and how it works to run activities in the company.

REFERENCES
Books and journal
Cornwall, J. R., Vang, D. O. and Hartman, J. M., 2019. Entrepreneurial financial management:
an applied approach. Routledge.
Finn, A. and et.al., 2018. The Ultimate MBA Book: Get the Edge in Business; Master Strategy,
Marketing, and Finance; Enjoy a Business School Education in a Book. Hachette UK.
Hunsberger, S., 2017. The Next Era of HR: Digital Marketing. People & Strategy.40(4). pp.26-
30.
Koschmann, M. A. and Burk, N. R., 2016. Accomplishing authority in collaborative work.
Western Journal of Communication.80(4). pp.393-413.
Madhale, P. D., 2016. A study of relation between the discipline of HR and finance. IJAR.2(9).
pp.405-408.
Sanda, M. A., 2018, July. Digitization of Industrial Work Environments and the Emerging
Challenges of Human-Digitized System Collaborative Work Organization Design. In
International Conference on Applied Human Factors and Ergonomics (pp. 384-395).
Springer, Cham.
Scott, B. B. and Queen’s, I. R. C., 2017. Creating a Collaborative Workplace: Amplifying
Teamwork in Your Organization.
Ward, A. M. and Forker, J., 2017. Financial management effectiveness and board gender
diversity in member-governed, community financial institutions. Journal of business
ethics.141(2). pp.351-366.