Role of HR, Marketing and Finance in Business Studies

INTRODUCTION TO
BUSINESS STUDIES
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EXECUTIVE SUMMARY
In order to perform business it is very essential that there must be an inculcation of
performance of various important functions including marketing, HR, finance and various others.
This report will discuss about the concept of various important business function including
marketing, finance, human resource that will assist the company including the TESCO to move
and head towards the direction of its objectives. This report will also cover the concept of
collaborative working practice that how the work in the form of collaboration with each other is
performed in the organization. This is being supported with the cultural model of Handy’s that
deals with the importance of organizational culture and its importance towards the company.
Lastly, this report will cover the concept of financial management and its associated concepts
that enable the companies consisting TESCO to have a control over its financial operation along
with its performance and monitoring.
Table of Contents
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EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
Role of HR, Marketing and Finance function.............................................................................2
Collaborative working practices..................................................................................................3
Financial management.................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
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INTRODUCTION
HR, Marketing and finance are the important functions of the TESCO that enable it to
operate the smooth functioning of the business operations. As TESCO is one of the top retailing
company of UK so it the above function plays an important role in its business operation. These
functions make the company to create awareness among the customers related with its products,
availing the availability of finance along with maintaining the workforce. Likewise, the financial
management practice of the TESCO enables it to have an evaluation of the financial position.
Like other factor collaborative working practices including the culture of the company also assist
it towards the direction of the achievement of the company’s goal.
MAIN BODY
Role of HR, Marketing and Finance function
Since the Tesco operate its function by differentiating its work within different
departments. Its major department includes:
Human resource:
It is one of the major department and function of the company that handle every activity
related with the workforce and employees. This department is solely concerned with employees
and their related activities (Norton, 2017).
Role:
HR perform the role of attracting the employee towards the company so that the
company’s vacant position can be filled. Like attracting they also perform the role of selecting
the employees so that most suitable candidate will be selected and placed in the company
(Goswami, 2018). It is to be noted that their role is not only limited up-to the hiring and
selecting, but they also perform the role of performance appraisal whereby they evaluate the
employee’s performance along with raising it with the implementation of training session in the
company. Likewise, HR in TESCO is also responsible for the performance of the above roles so
that it can perform its operation in an efficient manner along with management of its business
operation with the efficient workforce.
Marketing:
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