Introduction to Business Studies

Introduction to Business Studies
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Table of Contents
INTRODUCTION...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
TASK 2..........................................................................................................................................................5
Determine an understanding of collaborative working practices............................................................5
TASK 3..........................................................................................................................................................6
(Covered in Ppt.)......................................................................................................................................6
TASK 4..........................................................................................................................................................6
Determine the role of financial management within the organization....................................................6
CONCLUSION...............................................................................................................................................7
REFERENCES................................................................................................................................................9
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INTRODUCTION
Business studies is define as the business process which helps organization to grow and
develop by delivering quality products and services in order to meet the needs and requirements
of customers (Ghauri, Grønhaug and Strange, 2020). It includes study of various concept such as
accounts, marketing, human resource and many more which help organization in carrying its
business operations in most effective manner. The organization taken for this report is TESCO.
The company has able to established its brand name in UK marketplace with its large range of
products. Tesco is a British multinational groceries established in England, UK by Jack Cohen in
year 1919. The topics covered in the report are role of human resource, marketing and finance
functions within the organization, collaborative working practices, understanding of external and
internal factors and its impact on the operations of business. The role of financial management
within the organization.
TASK 1
Explain the role of HR, marketing and finance functions within an organization.
In an organization there are various department which are responsible to carry the
operations and functions of business (Morris, 2010). These department are Human resource,
finance, IT, marketing and many more. With the help of these department organization would
able achieve its desire goals and objectives. In context of Tesco these department play important
role which is describe below-
Human resource department- HR department play crucial role in the organization that
is they have to focus on employment law and need to ensure that employees are satisfied with the
organization culture and workplace environment. The core function of HR department within
Tesco is as follow-
 Recruitment- This is one of the main function of HR department where they are
responsible to manage and maintain the staffing level within the Tesco. It’s the role of
HR to hire the right candidate for the right job in order to provide skilled and capable
employees to the company. It is the continuous process that is depend on the requirement
of the business and on business expansion. Within Tesco the HR department has proper
understanding of the various job roles which help them in performing their job effectively
and efficiently.
 Employee relations- Employees are the most important assets of the business that is
building good relation with employees can lead to increase in productivity and will
provide benefit to the company. It’s the responsibility of HR department to make the
employees comfortable and make them informed about every information. In context of
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