Business Studies: Tesco's HR, Marketing, Finance & Management Report

This report provides an in-depth analysis of business studies, focusing on the multinational supermarket chain, Tesco. It examines the roles of Human Resources (HR), marketing, and finance functions within the organization, highlighting their importance in achieving business objectives. The rep...Read More

Introduction to
Business Studies

Table of Contents
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
Examine role of HR, marketing & finance functions............................................................3
Role of HR within Tesco........................................................................................................3
Role of marketing in firm.......................................................................................................4
Role of finance.......................................................................................................................4
Develop an understanding of collaborative working practices..............................................4
Describe the organisational culture........................................................................................5
Briefly examine management/ leadership in Tesco................................................................5
Financial management and reporting.....................................................................................6
CONCLUSION..........................................................................................................................7
REFERENCES...........................................................................................................................8
Books & Journal:....................................................................................................................8

INTRODUCTION
Market consists of different types of organisations and accordingly activities functions
and operations are being executed by company (Bose, 2019). Main purpose of this report is
to understand the importance of business studies in contemporary business environment.
Tesco multinational large supermarket chains headquartered in United Kingdom. It has many
competitors in market such as Asda, Sainsbury, Amazon etc. This report comprises of role of
HR, marketing and finance function, furniture management and reporting with collaborative
working practices.
MAIN BODY
Examine role of HR, marketing & finance functions
Tesco is a global organisation which has number of functions in their department on
the basis of which they are able to execute their activities properly. There are different types
of functions like human resource marketing and finance function which are carried out by
company globally. So there are roles are discussed as follows-
Role of HR within Tesco
HR in organisation is a person who is responsible for managing and maintaining
relations between both employees as well as employers. HR department is responsible for
delivering of good candidates to company so that productivity of business increases and
workflow is carried out without any facing problem (Héder, 2018).
Responsibilities of HR in Tesco
 HR in Tesco is responsible for hiring in selecting right candidate for the vacant post.
 Another responsibility is to manage and maintain environment at workplace.
It is another function of Tesco in which it focuses on hiring and selecting right candidate for
the right job. In relation of selected organisation, HR department execute their activities with
use of tools applications and technologies.
Role of HR
 Staffing- It is the first role of HR in which it is defined as a process of finding
selecting and evaluating working relationship with current as well as employees. In
context of Tesco, they HR of company make ensure that something is being done
properly.

 Monitoring and controlling- It is another role in which main work is to monitor and
control the activities of employees is a less employers to develop positive
relationship.
Role of marketing in firm
Marketing is defined as process of buying and selling product and services in market.
Marketing function
Marketing department is also important because they focus on implementation
strategies as well as increasing profit and sales ratio of business (Jain, 2017).
Role of Marketing
 First main role of marketing function is to implement strategy for development of
business growth. In consideration of selected entity they have a marketing team at
effective level which implements strategies effectively.
 Second role is to generate higher profit to business and increase the productivity level.
Role of finance
Finance functions
Finance functions are those which focus on preparation of financial statements such as
cash flow, balance sheet etc. Their roles are given as follows-
 Preparation of financial statements- In this role main focuses on preparation of
financial statements which gives details of company. In considering of Tesco, their
finance department prepare financial statements on every basis (Lakis, 2017).
 Maintaining finance and expenses of business with recording of transactions- It is
also important role of finance function in which Tesco finance function department
maintain all the financial transactions and record them with proper manner.
Develop an understanding of collaborative working practices
Organisational culture is defined as a proper way of behaving in an enterprise.
Organisational culture of Tesco is positive and the focus is on developing healthy relationship
with employees.
Factors which make cultures are-
 Location- A location is a factor which makes up the organisational culture as because
people films on different part of location and accordingly they behave as well as
convert their mind set. So location of organisation makes up the cultural environment

 Beliefs- A belief is also a kind of a factor in which contributes to establishment of
culture because each and every individual has different beliefs with people.
Charles HANDY’S Concept of Organisational culture
According to this concept of Charles handy, states that organisational cultures of
various types that are described below-
Power- There are some organizations where the power remains in the hands of only
few people and only they are authorized to take decisions. They are the ones who enjoy
special privileges at the workplace (Laszlo, 2018).
Role- Role culture is one which employees are being assigned with the different
person is facilities on the basis of their skills and specialisation. So Tesco also assigned
employees with different roles on basis of their qualifications and specialisation.
Task- A task culture is one which different task given to employees on the basis of
their level of knowledge
People- People culture is one in which employee use that they are more important
dam on occasion because of their knowledge and skills.
Describe the organisational culture
A culture is group of people who shared beliefs and values. Culture of organisation
contribute towards collaborative working environment as because when people with different
culture and religion works together adhigam easier to achieve common desired goals and
which also results in developing of mutual understanding as well as collaborative working at
workplace. In context of Tesco, they are located at global level and they have a people with
different culture only used in different countries and work together within workplace
(Maheshwari, 2017).
Briefly examine management/ leadership in Tesco
Management and leadership style are important in Tesco without which it is not easy
for them to execute their business activities. Different types of leadership styles of
Management are being used by both leaders and managers which are discussed below-
Autocratic- It is a type of a style in which leaders of organisation put a proper control
over decision of employees. Tesco leaders do not use this style of leadership.
Democratic- It is a kind of a style in which leader of enterprise share all the
information and take decision with proper consulting employees and also consider their point
of view. In reference of select company leaders uses democratic leadership style
Laisse Faire style

This is another kind of style in which leader gives a complete freedom to employees
to work on their own methods without any strict control.
Financial management and reporting
Financial Management and reporting are important part of organisation because these
are required at every aspect on the basis of which Enterprise prepare their financial
statements and record transactions. So, there are different types of documents which are
prepared by Tesco finance functions like profit and loss account and balance sheet, cash flow
statement and Management.
Explain what a Profit and Loss Account
Profit and loss account the type of a financial statement which give the brief
description about revenue, expenses that are occurred during a specific period in business. It
is important for Tesco because it helps them to analyse and understanding ratio of business at
different aspects. Main benefit of P& L account is that it is easy for company to make
decisions regarding how to monitor and control the expenses (Rangaswamy, 2020)
Explain what a Balance Sheet
It is defined as a furniture statement which consists of assets liabilities, equity capital,
total debt and etc. In viewpoint of Tesco, they prepare their balance sheet on early
monthly and quarterly basis. This is crucial for company because it gives the detail of
every account time how they can be further managed (Roscoe, 2019).
Explain what a Cash flow Statement
Cash flow statement refers to furniture segment which gives a detail of amount of
cash and cash equivalents which are entering and going out of a company. With the help of
cash flow statement Tesco is capable of determining and managing its cash position in well
effective manner.
Therefore, from the above discussed paragraph it has been specified that these
financial document statement on important for Tesco through which they are able to manage
their business position and these documents also help them to implement schedule in most
efficient manner.

CONCLUSION
After a brief analysis of a book report it is analysed that business studies are important
to be understood by every individual as because it increases the level of knowledge and skills
at higher skill which is beneficial for improving skills and abilities. So discussions have been
made about different types of roles of HR marketing and finance functions as well as a brief
description are being given on organisational culture and financial statements. With changing
period of time, it has become essential for company to focus on every aspects of businesses
and processes in order to accomplish their goals.

REFERENCES
Books & Journal:
Bose, 2019. The Role of Finance in Achieving Sustainability. In The Financial Ecosystem
(pp. 1-18). Palgrave Macmillan, Cham.
Héder, 2018. Effect of labour market changes on HR functions. Anali Ekonomskog fakulteta
u Subotici, (39), pp.123-138.
Jain, 2017. Marketing and technology: role of technology in modern marketing. IOSR
Journal of Business and Management, 19(5), pp.49-53.
Lakis, 2017. Acceptable Audit Materiality for Users of Financial Statements. J. Manag, 2,
pp.117-125.
Laszlo, 2018. The Evolution of the Culture of Enterprise. Journal of Conscious Evolution,
1(1), p.9.
Maheshwari, 2017. Exploring HR practitioners’ perspective on employer branding and its
role in organisational attractiveness and talent management. International Journal
of Organizational Analysis.
Rangaswamy, 2020. The role of marketing in digital business platforms. Journal of
Interactive Marketing, 51, pp.72-90.
Roscoe, 2019. Green human resource management and the enablers of green organisational
culture: Enhancing a firm's environmental performance for sustainable
development. Business Strategy and the Environment, 28(5), pp.737-749.
Saura, 2020. Digital marketing for sustainable growth: Business models and online
campaigns using sustainable strategies.
Tumpach, 2021. Datasets of impact of the first-time adoption of IFRS 16 in the financial
statements of Slovak compulsory IFRS adopters. Data in Brief, 36, p.106996.
Velychko, 2017. Logistical modelling of managerial decisions in social and marketing
business systems.