Role of HR and Finance Functions in Business Organizations

Introduction to Business
Studies

Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
Role of HR and Finance function within the organisation..........................................................3
Collaborative working practices..................................................................................................5
Knowledge of role of financial management and reporting within organisation........................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

Introduction
Business studies refer to an important element in business that helps organisations to
understand e need of market and their consumers. It is necessary for every business organisation
to perform this function in order to make sure that they can successfully fulfil this need of their
consumers (Cagle, Yılmaz and Doğru, 2020). The following report is carried upon Tesco which
was discovered in 1919 by Jack Cohen. They are successfully serving customers in a number of
countries including India, South Korea, Hungary, United Kingdom, and Ireland and so on. The
following report is discussing various role of human resource and finance functions within an
organisation. The collaborative working which will successfully elaborate knowledge and role of
financial management in the organisation or also discussed.
Main Body
Role of HR and Finance function within the organisation
In a huge organisation like Tesco there are a number of different functions which are
performed by human resource, marketing and finance department of the organisation. Below
mentioned are its description:
Roles of human resource
Recruitment: Recruitment is the primary responsibility of human resource department in Tesco
within which the professionals in human resource department are required to fill in the vacant
positions of different jobs with skilled individuals. It is necessary as these individuals will help
the organisation in order to successfully fulfil all the goals and objectives.
Training and development: There are a number of changes taking place in business environment
from there today. In order to be up to date with all those changes it is necessary that the
employees in the organisations are skilled and trained. Therefore human resource department
provides training and development to the employees in Tesco so that they can successfully deal
with the changing external environment of the business.