Introduction to Business Studies

Introduction to Business
Studies

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Describe the role of HR, Marketing and finance functions within an organization. How is
working together for profit...........................................................................................................3
Develop an understanding of collaborative working practices....................................................5
Demonstrate knowledge of the role of financial management and reporting within the
organization..................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Business represent the enterprising entity that involve the set of activities in order to cater
the specific purpose or cause successfully. It can either function for the profit maximization or
social cause based on which all the internal activities associate with different department like
marketing, finance and human resource are carried out (Al-Mamary and et. al., 2014). To better
define the topic of report Tesco company has been selected which deals in well established
supermarket or retail store. These stores act as a wide umbrella where company deals in various
variants of utility items, grocery, electronics, books, cloths and so on. This report cover topics
like functioning of different functional area like HR and ways that help them to contribute in the
profitability of firm. Determine the collaborative working practices and role of financial and
reporting management are covered in the report.
MAIN BODY
Describe the role of HR, Marketing and finance functions within an organization. How is
working together for profit
An organisation comprises of various personnel that differ in terms of the skill,
knowledge, qualification, experiences and belong to different community or cultural
background. But all them need to possible work together within common platform in order to
create the synergy that leads to organisational success. Most of the successful organisations like
Tesco comprises of the different functional unit which involve the employee that have similar
kind of potential. The members of each unit particularly work together to attain the collective
goal within specific time frame. Explanation of the some areas in context to Tesco company are
defined below:
Human resource: This department is responsible to focus on the certain compliance that
is associate with the employment law that strategically helps to manage the business operations.
It is the strategic process that involve activities such as recruitment, staffing, retention, training
as well as development of employee (Aral, Dellarocas and Godes, 2013). Within, Tesco
company HR mangers plays an essential role where they focuses to empower the staff so that
they perform their daily regime in best possible manner. Along with that in order to enhance the
footfall of retail store, the role of HR is to evaluate the performance of existing employee and
conduct appraisal programme in order to promote the deserving staff by offer them better