Table of Contents INTRODUCTION..........................................................................................................................2 Different roles of business functions......................................................................................2 Importance of all functions.....................................................................................................3 CONCLUSION...............................................................................................................................3 REFERENCES................................................................................................................................4 INTRODUCTION Business functions refers to a process of operation which makes sure about adequate working in an organisation. No business can operate with having different functions in it. Business functions includes several departments of an organisation which are inseparable from achieving success and growth(Crawford, 2020). These are marketing, finance, human resource, production, etc. which all coordinates and contributes to organisation in attaining its objectives or goals. In present essay different roles of each function along with their importance in business is being discussed by taking Tesco into analysis. Different roles of business functions. Marketing Marketing function of any business plays a very important in advertising and promoting company's product or services which helps in increasing sales and generate high revenue (KrishnaveniandMonica,2018).Thismakespublicawareaboutbusinessofferingsfor customers use. Its key role is to promote company's mission and vision to reach customers or investors in market. TESCO marketing department performs its role by advertising company's products through direct communication with its buyers that focuses on building trust of customers towards company. Finance 2
Finance department's main role is to allocate and arrange monetary funds for company. In order to utilise it in business operations as well as for the purpose of making certain investments that gives returns to company in a form of capital appreciation(Nespeca and Chiucchi, 2018). At TESCO finance departments aims at adding value to their company by injecting enough funds into its operations. Finance department at TESCO also plays a role by forecasting its sales margin, making financial reports such as cash flow, balance sheet,etc. Production Production department aims at managing affairs related to manufacturing of goods that company offers to its customers(Primo, Gil-Saura and Frasquet-Deltoro, 2020). Their role is to arrange required resources for production process and manufacturing of goods for sale. TESCO production department main role is to observe manufacturing process right from getting order to final shipment of such goods bearing high quality results in them. Human Resource The main role of human resource department is to employ competent personal for actual working in company. HR department is required to take interviews of candidate and place them at right job based upon their skills and competency. Their role is to provide fair remuneration on time to company's employees. TESCO HR department role is to direct and instruct their employees in order to achieve organisational goals and employing deserving candidate to right post. Importance of all functions. Allthebusinessfunctionsareinterrelatedwitheachotherandaimstoachieve organisational common goal by combining their individual efforts into one direction. Human resourcedepartmentprovidesrightcandidatestodifferentdepartmentssuchasfinance, marketing production, etc. Marketing department helps company in knowing sales target and production department manufactures goods according to sales idea. For this finance department allocates adequate fund that is used in producing goods. CONCLUSION From the above essay it cam be concluded that each department has its own role and importance in business without which no company can accomplish its goals and achieve success. 3
REFERENCES Books and Journals Crawford, R., 2020. ‘But nobody talks to accountants’: the growing influence of the finance department in the advertising agency.Accounting History Review.30(1). pp.89-111. Krishnaveni, R. and Monica, R., 2018. Factors influencing employee performance: The role of human resource management practices and work engagement.International Journal of Business Performance Management.19(4). pp.450-475. Nespeca, A. and Chiucchi, M.S., 2018. The Role of Business Intelligence in the Production, Transmission, and Reception of Performance Measures: A Case Study. InPerformance Measurement and Management Control: The Relevance of Performance Measurement and Management Control Research. Emerald Publishing Limited. Primo, M.C., Gil-Saura, I. and Frasquet-Deltoro, M., 2020. The role of marketing and product design in driving firm’s performance. Journal of Product & Brand Management. 4