Role of HR, Marketing and Finance function within an organisation

REPORT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Role of HR, Marketing and Finance function within an organisation.........................................3
Develop an understanding of collaborative working practices....................................................4
Demonstrate knowledge of the role of financial management and reporting within the
organisation..................................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Business studies refers to the management practice that collectively function to enhance
firm's productivity and generate significant amount of revenue. This offer the opportunity to
articulated desirable decision for the better implementation of plan and collective achievement of
objective (Anheier and Seibel, 2013). To better define the objective Tesco company has been
selected which comprises of the large chains of supermarket and hypermarket outlet. These retail
store offer wide varieties of the product like grocer items, books, home décor item, electronics
and clothing under the same roof. This report cover topics like demonstrate the role of different
functional areas and understanding of collective working practices. Along with that the
explanation of financial management and reporting are covered in the report.
MAIN BODY
Role of HR, Marketing and Finance function within an organisation
An organisation comprises of diverse functional areas or department such as HR,
marketing, production, finance, research and development which are together responsible to
attain the predetermined objective of an enterprises. Each function has their own role but they are
interrelated with one other to maintain the coordination and attain comprehensive objective
effectively. Explanation of the organisational roles in relation to the Tesco company are
determined below:
Human Resource Management: The HR department is considered as the backbone of
an enterprises as it is responsible to conduct recruitment cycle, perform selection process, run
orientation session, training and development as well as plan out appraisal programme. Simply
the role of human resource is responsible in the better management of practices as well as
policies associated with staff. Tesco company have successfully incorporated the HR cycle
because they allow their staff to make the efficient use of the skill or capabilities and utilise it in
favour of an organisation. Generally, the manager organises session in order to update the
existing knowledge of their staff and utilise it to improve the footfall of each and every retail
outlet (Bailey and et. al., 2018). Further, based on the evaluation process appraisal programme
are designed by the human resource in order offer the better opportunity to the potential
personnel through incentives, promotion and salary hike.