Introduction to Business

INTRODUCTION TO
BUSINESS

Table of Contents
INTRODUCTION ..........................................................................................................................4
Roles and importance of mention below departments................................................................4
Team work and its importance ...................................................................................................5
Financial management and its importance for Tesco..................................................................6
Reporting and its purpose............................................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business administration focuses the all the aspects regarding supervising and overseeing
the persons of a business. It also covers the project management, marketing as well as finance of
the business (Reiche and et.al., 2016). It focuses on the Tesco British Mnc has headquarters in
England,United Kingdom. It focuses on the Various department roles and responsibilities and
Financial management and its importance Balance Sheet as Cash flow statement. It focusses on
the Marketing department such as it is responsible for promotion for the Tesco business.
Furthermore Financial Management applying strategic decision related to acquisition of funds
dealing faced by organization.
Roles and importance of mention below departments
Marketing department
This department plays a crucial role within promoting the Tesco business's mission. It recognizes
the products as well as services to focuses on the sales cycle. The department of the marketing
of the Tesco has overall accountability for the enhancing market share,growing revenues,firms
growth as well as profitability. It able to recognize market opportunities as well as better
understanding to the needs of the consumers. It is also responsible for the external and internal
product development team regarding improve the current product. It evaluates the gaps and
identifies gaps within the product range (Tërstena, Goga and Jashari, 2020). This department
also develops communication material and plan campaigns to the consumers. It is also
responsible for the cooperation between sales and marketing as it offers sales times to provide
the high quality leads. In Tesco marketing department is also responsible for firms events such as
seminars,sales conferences as well as various events of the hospitality, also accountable for event
booking ,meeting facilities and many more.
Finance department
It assures that there are proper funds that are available to various resources that required
to assist the tesco to accomplish its objectives as well as assures that the costs are controlled. It
also establish as well as control the level of the profitability levels. One of the vital role of the
finance department is that it can recognises suitable information to the decision-
makers ,managers so that they provide the informed decisions as well as judgements. They also
prepares the financial account and financial documents for the managers of the Tesco and also