Importance of Business Functions in Tesco

CW1 Business Report
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Table of Contents
INTRODUCTION...........................................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................5
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INTRODUCTION
Business functions are of different types and they perform various activities and tasks. They
all contribute in overall business objectives. However, each function is assigned various roles
and they attain it (Cook and Green, 2016). Generally, HR, operations are common business
department within organisations.
HR- the role of HR in Tesco is to hire and recruit candidates on basis of job roles and their skills
and capabilities. Also, they manage staff and provide them training of their specific job.
Moreover, Hr maintain payroll and evaluate performance of staff. They are also responsible for
developing culture and solving conflicts. For example- main function is T&D, selection, etc. of
employees within Tesco (Jensen, 2018).
Marketing- There are many functions that is performed by marketing department. they do
advertising and promotion of products and services. Furthermore, they conduct market research
to collect data and info about customer needs, trends, etc. In addition, customer feedback is taken
and branding is done. also, they decide the target market and accordingly develop plans (Nielsen
and Galamba, 2015). For example- In Tesco marketing unit do R&D and research in market.
Finance – Its main function is to record income and expenses of business. Moreover, budget is
estimated and accordingly financial planning is done. they also perform function to forming
reports and doing future analysis of sales and income. besides that, asset valuation and auditing
are also function of finance unit (Kemp and Owen, 2015). For example- In tesco they prepare
balance sheet, profit and loss account, etc. on annual basis to find out profit and loss.
Operations – the main function of operation is to produce products from raw material into
finished goods. In this a specific procedure is followed of manufacturing. Moreover, production
department produces variety of products as per needs of customers. For instance- Tesco
operation contains many fuctions
Importance of business functions
There is great importance of interrelationship between all business function within Tesco.
As they accomplish various goals but it is integrated towards common objective. Here, for
instance marketing advertise and promote products. so, for this they require budget from finance.
In this way marketing is done (Nayak, Linehan and Sanz, 2017). Apart from it, finance
function support in allocating capital to HR, marketing and operation to conduct daily activities.
with help of marketing, product and services is promoted and revenue is generated. The products
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