Role of HR, Marketing, and Finance Department in Business Studies

This article discusses the roles of HR, marketing, and finance departments in a business entity like TESCO. It covers topics such as staff relations, recruitment, training and development, financial planning, financial decisions and control, consumer investigation, and brand promotion.

Within large entity such as TESCO, there are
various functions that are performed through
finance, marketing and human resources
department. Some roles which are played by all of
them in TESCO are discussed below:
Role of human resources:
 Training and development: There are
various changes that are occurring within
business atmospheres. So, for being
upgraded as well as up to date with whole
that modifications, this is essential for them
that their staffs within firm are competent
as well as well trained. Thus, human
resources department needs to facilitate
Role of finance department
 Financial planning: For successfully deal with
whole marketing operations this is vital that
appropriate budget are planned through entity as
well as assigned among various departments.
Within TESCO, finance department is essential as
this assist them to accomplish whole these
monetary requirements as well as planning.
 Financial decisions and control: The TESCO’s
financial department is accountable for
performing whole physical practices which are
undertaking within entity. In addition to this, it is
vital that they are facilitating much information so
that
as well as development session to staff with TESCO
so that they could successfully deal with the
modifying external business surroundings.
 Staff relations: This becomes essential for
entity to assure that staff relations into firm
are successful. Moreover, the department of
human resource within TESCO is
accountable for assuring that effectual as
well as open communication among whole
staff in workplace is undertaking so that they
may perform together towards the objectives
without any disputes or grievances.
 Recruitment: Recruitment is considered as
the fundamental accountability of human
resource department within TESCO that the
professionals within human resources
department are needed to accomplish into
vacant post of various jobs with competent
persons. Moreover, this is essential as these
people would assists entity for successfully
accomplishing overall objectives in effective
and efficient manner (What is the role of
Introduction to Business Studies
Role of HR, marketing and finance department

financial statements as well as budgets of firm
may be managed from time to time.
Therefore, In TESCO, their capitals are
maintained through finance functional units for
appropriately structuring as well as composition
the capital available with business (The Role of
Financial Management in an Organization, 2020).
Role of marketing department
 Performing consumers as well as market
investigation: For effectively
accomplishing the whole requirements of
customers, marketing research is needed
through entity. Moreover, the marketing
department of TESCO have to assure that
they are performing several market
research at regular basis so that it could
able to acknowledge the preferences of
clients as well as changing trends of
marketing. In addition to this, It also aids
staff to perform the task in favour of entity
through accomplishing the several
requirements of customers.
 Meeting the requirement as well as
desires of consumers: There are various
requirements as well as desires of clients
that are going to be accomplished through
various services as well as goods through
entity.
In addition to this, the TESCO’s marketing
department is accountable for understanding those
requirements of audiences for accomplishing them
in successful way.
 Promoting and managing brand: The
main role of marketing department within
entity is to assure that assure that their
brand is managed as well as promoted
effective and efficiently. Moreover, the
TESCO’s marketing department is
accountable for assuring that they are
maintains the brand value of firm through
utilising huge number of several
promotional activities like websites,
internet and many others. Along with this,
it is also crucial that clients should be
aware regarding the products as well as
services that firms are offerings (The Role
of a Marketing Department, 2020).
Promotion is considered as the essential element of marketing
mix as this may boost the brand recognition as well as sales.
So, In respect of Tesco, their huge advantage is their lower
prices. It is what makes them different from other chains of
super market. And it maximises their brand reputations.
Moreover, their key intent have always been developed their
image of brand through minimising costs and enhancing
profitability. In addition to this, for their promotion they
utilises television advertisements, provides promotional
discounts, and sponsors charitable events and usages as the
sales strategies and others. Along with this, mainly all
TESCO’s advertisements concentrate upon one thing that is
lower cost. This also facilitates a various eye-catching offers
to their clients.
Promotion element of marketing mix

Apart from this, they also utilises club board services to
facilitates clients with extra discounts that assist respective firm
to analyse the demand pattern of their consumers and also
helpful in understanding their market well.
Koesten, L. and et. al., 2019, May.
Collaborative Practices with Structured
Data: Do Tools Support What Users
Need?. In Proceedings of the 2019 CHI
Conference on Human Factors in
Computing Systems (pp. 1-14).
Online
What is the role of human resource
management in an organization?. 2020.
[Online]. Available Through:
<https://www.poppulo.com/blog/what-
is-the-role-of-human-resource-
management-in-an-organization/>.
The Role of a Marketing Department. 2020.
[Online]. Available Through:
<https://www.thehartford.com/business-
insurance/strategy/creating-marketing-
department/role#:~:text=The
%20Marketing%20Department
%20plays%20a,and%20mission%20of
%20an%20organization.&text=It%20is
%20the%20Marketing
%20Department's,company%20in%20a
%20positive%20light.>.
The Role of Financial Management in an
Organization. 2020. [Online]. Available
Through:
<https://talentedge.com/articles/role-
REFERENCES
Books and Journal
Aagaard, A., 2016. Sustainable business: Integrating CSR
in business and functions. Stylus Publishing, LLC.
Chi, T. and et. al., 2019. Real options theory in
international business. Journal of International Business
Studies, 50(4), pp.525-553.
Farooq, M.S. and et. al., 2017. Acceptance and use of
lecture capture system (LCS) in executive business