Role of HR, Marketing, and Finance Functions in Organizations

Introduction to Business Studies
Table of Contents

Introduction......................................................................................................................................3
Illustrate role of HR, Marketing and finance functions within organisations........................3
Development of understanding with respect to collaborative working practices...................4
Internal as well as external factors that creates impact on business.......................................5
Illustrate knowledge of role of financial management as well as reporting in an organisation.
................................................................................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

Introduction
Business is regarded as an entity that is engaged within professional, commercial or
industrial practices. Within an organisation there are various departments who work in an
alignment with each other for attainment of objectives (Andersson, Cuervo-Cazurra and Nielsen,
2020). For understanding the concept of business, Tesco Plc is considered which a largest chain
of supermarket is across UK and delivers their services in multiple countries. This report is based
on development of understanding related with role of finance as well as marketing functions
along with this knowledge related with collaborative working practices will also be rendered.
Furthermore, role of finance management within firm is also included.
Illustrate role of HR, Marketing and finance functions within organisations
With respect to Tesco, they have different functions that are carried out within peculiar
department of organisation. The role of these has been specified beneath:
Role of HR: This function is accountable for entire workforce within the organisation
and takes adequate measures through which these assets can be maintained in an effective
manner (Colli and Perez, 2020). Within Tesco, they are liable for performing different roles,
some of them are specified below:
 Planning & Development: HR executive’s acts as strategic partners who participate
within identifying, developing as well as executing corporate objectives. Within Tesco,
they align their work with other business units for attainment of company goals.
Furthermore, they allow human resources for having profound understanding with
respect to activities carried out within organisation.
 Serve as leader for change: They frequently lead alteration initiative within organisation
due to this professionals within Tesco, aids stakeholders of organisation within making
connection among change initiatives along with strategic requirements by minimising
change resistance as well as employee unrest. They are also responsible for managing
satisfaction of employees, shaping organisational culture and weighing success with
initiatives that are taken.
Role of Marketing Function: This is regarded as process or role that involves all activity
from concept of products for ways in which they reach end users. Thus, this will carry out