Significance of Different Business Functions: A Case Study of Tesco
Verified
Added on  2023/01/12
|5
|873
|67
AI Summary
This report investigates the significance of different business functions in demonstrating core skills of marketing functions using Tesco as a case study.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
BUSINESS REPORT
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents BUSINESS REPORT......................................................................................................................1 1.2 INTRODUCTION.....................................................................................................................4 1.3 Marketing...............................................................................................................................4 1.4 Finance...................................................................................................................................4 1.5 Human resource.....................................................................................................................4 1.6 Operations..............................................................................................................................4 1.7 How business functions links................................................................................................5 1.8 CONCLUSION..........................................................................................................................5 REFERENCES................................................................................................................................1
1.2 INTRODUCTION Business functions are termed out as activities that carried out by enterprise and also divide into the core functions and support functions (Podder, Samanta and Gurunath, 2020). The presentreportisbasedontoinvestigatesignificanceondifferentbusinessfunctionsto demonstrate core skills of marketing functions of entity asTesco. 1.3 Marketing Marketing defined as activities that undertakes to promote the activities as to buying and selling of product and services. It is inclusive of the activities that is inclusive of the things as researching, promotion, selling and distributing the commodities and services. It plays the crucial role between the customers and enterprise (Cui, 2017). 1.4 Finance This is defined as significant part of financial management. It is activity that is mainly concerned with control and planning of financial resources. In addition to this, Financial functions of Tesco is inclusive of utilizing and acquiring funds for undertaking effective operational activities (Podder, Samanta and Gurunath, 2020). In order to cope up with the needs of enterprise, the firm has to take the initiatives to invest the business funds systematically. 1.5 Human resource Human resource termed out as strategic plan of action that helps to create effective management of people in company. Therefore, the main role of this is to assist the business to gain competitive advancement. This is term that is mainly designed to maximise employee performance to undertake better services with the employer strategic objectives. Thus, main functionsofhumanresourcemanagementasarehiring,staffing,training,development, motivation and communication (Albertoni, Elia and Piscitello,2017). 1.6 Operations Operational activities of the enterprise is mainly concerned with areas of management that undertakes the business functions as to designing and controlling the process of productions and redesigning of business activities (Macchi, Savino and Roda, 2020). Its streamlines the operational activities of the enterprise. Henceforth, operational management to the enterprise is inclusive of planning, organising and controlling the resources that must be used to produce the firm goods and services (Kaatz, Jacobs and Wasley, 2018).
1.7 How business functions links The organisation as Tesco has varied departments that is inclusive of marketing, human resource, finance and operations. Thus, all departments of chosen enterprise are interrelated to each other. Each department hold the specific function and process that are interrelated. Hence, the output of one department is input of another. Marketing department of Tesco defined the needs of resources so that finances department can arrange the funds for it (Macchi, Savino and Roda, 2020). Without support of finance department marketing activities cannot be carried out effectively. Marketing, operational and finance department define the needs of skilled person to their unit to Human resource department (Xiao, 2018). So, HR department of the quoted enterprise will be liable to identify the suitable person for specific department. Thereafter, HR department of Tesco also frames the rules and regulation to carry out business functions effectively for each department. 1.8 CONCLUSION Hereby, it can be summarized that business functions are termed out as activities that are carried by enterprise to undertake effective working activities. However, the study has covered thebusiness functions to demonstrate core skills of marketing functions.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REFERENCES Books and journals Albertoni, F., Elia, S. and Piscitello, L., 2017. Complementing the reshoring of manufacturing activities: the relocation of business functions. InReshoring of Manufacturing(pp. 57-75). Springer, Cham. Cui, L., 2017. Fuzzy approach to eco-innovation for enhancing business functions: a case study in China.Industrial Management & Data Systems. Kaatz, L., Jacobs, K. and Wasley, E., 2018, December. Mapping Climate Exposure and Climate Information Needs to Water Utility Business Functions. InAGU Fall Meeting Abstracts. Macchi, M., Savino, M. and Roda, I., 2020. Analysing the support of sustainability in the manufacturingstrategythroughamultipleperspectiveofdifferentbusiness functions.Journal of Cleaner Production.p.120771. Podder, S.K., Samanta, D. and Gurunath, R., 2020. Impact of Business Analytics for Smart Education System and Management Functions. InAdvances in Computing and Intelligent Systems(pp. 479-488). Springer, Singapore. Xiao, T., 2018, July. The Functions and Expressions of English Euphemism in Business Negotiation. In4th International Conference on Arts, Design and Contemporary Education (ICADCE 2018). Atlantis Press. 1