Functional Areas in TESCO Company

Management
1
Business Report
Student
Date
Institution

Management
2
Table of Contents
Introduction......................................................................................................................................3
Functional areas in TESCO Company.............................................................................................3
Importance of working across the departments...............................................................................4
Conclusion.......................................................................................................................................5
Reference.........................................................................................................................................6

Management
3
Introduction
Deployment of tasks to different business functions or departments in an organization is vital for
the growth of a business (Khosrowpour, 2017). These business functions perform according
to certain business requirements and they differ depending on the nature of business performed.
For instance, TESCO Company, which is among the top largest retailers in the world dealing
with multinational groceries and general merchandise, has several business functions that aid the
organization in archiving its objectives (Son, et al., 2018). Specific functional areas will be
accountable for supporting specific objectives. This ensures that all business activities are
performed accurately and efficiently.
Functional areas in TESCO Company
1. Finance and accounting department
They are accountable for all transactions taking place in the organization. They plan, audit and
organize the finances of the company. In addition, they are responsible for producing the
financial statements of the organization which determine the financial position of the business.
They also control all the cash flow and finances in order for the company to stay reliable by
ensuring that the business is able to pay debts and invest in new projects to make profits.
2. Human resource
Human resource department is vital in every organization. The success of TESCO Company lies
on its people. It is the responsibility of the HR department to recruit, train, and develop new