Role of Marketing, Finance, Operations/Production and Human Resources in Business

This report discusses the role and importance of marketing, finance, operations/production, and human resources in a business. It highlights how each function contributes to the success of the organization.

BUSINESS
REPORT

Contents
MAIN BODY..................................................................................................................................3
Role of marketing, Finance, Operations/Production and Human Resources..............................3
Importance of all these functions.................................................................................................3
REFERENCES................................................................................................................................5

MAIN BODY
Role of marketing, Finance, Operations/Production and Human Resources
Marketing: It has been analysed that marketing department in Tesco plays the most
important role, they have the sole purpose of making effective relationship between employees
and consumers. It assists company in increasing their brand reputation and company. They have
the purpose of promoting the products so that consumer base is being increased.
Finance: Role of finance is to analyse that how much cash inflow is happening in
company and what are the expenses they are bearing (Shiu, 2017). In Tesco they have the
responsibility to acquire and utilise funds effectively so that capability of organization increases.
They have main objective of managing a firm and meeting their goals and objectives.
Operations: Production department of Tesco has the main responsibility in creating goods
and services. They make sure that proper planning, coordination and organizing of resources are
been done properly. This department make sure that goods are being served to consumers at the
time when they require it. This will assist Tesco in gaining competitive advantage. This
department has the role of making sure that raw materials are effectively been converted into
final goods.
Human resource: They are the most effective and valuable assets of company. Role of
human resource is to maximise the use of resources in order to make organization more
productive. They have the main purpose of working towards achievement of organizational as
well as their personal goals and objectives. They are engaged in doing proper planning so that
firm can get competitive advantage.
Importance of all these functions
Marketing; It is one of the most important function for the organization. This element
assists Tesco in making better bond with consumers. They make consumer aware about the type
of products and services sold by company (Kotler and et.al., 2018). This has assisted them in
satisfying needs and demands of consumers. Marketing supports firm in increasing satisfaction
of consumers. It helps Tesco in growing and achieving their ultimate goals and objectives.
Marketing also assists organization in promoting their products so that sales of goods increases.
It also enhances profitability. Marketing also helps company in creating large consumer base.

Finance: The most important function of finance department is to ensure that Tesco has
adequate cash balance which can help them in properly conducting their day to day business
activities. They help firm in managing their financial obligations. They also make managers of
organization aware about the situation in advance if they are going to face any cash deficiency in
future (Chernev, 2018).
Operations: This department is engaged in converting finished goods into raw materials.
Most important function of this department in Tesco is to make effective utilization of resources
so that waste can be minimized. It helps them in improvising quality of goods and services.
Human resource: The most important function of HR department in Tesco is to develop
better culture in organization. They are engaged in motivating employees to perform task and
achieve goals and objectives. It assists firm in creating employee belongingness.

REFERENCES
Books and Journals
Kotler, P. and et.al., 2018. Marketing management: an Asian perspective. Pearson.
Chernev, A., 2018. Human resource management. Cerebellum Press.
Shiu, E. ed., 2017. Research Handbook of Innovation and Creativity for Marketing Management.
Edward Elgar Publishing.

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