Significance of Different Business Functions in Attainment of Success: A Case Study of Tesco

This report analyzes the significance of different business functions like marketing, finance, HR and operations in the attainment of success in a competitive environment. A case study of Tesco is used to illustrate the importance of these functions.

report with references

Executive Summary
In business, different functions are performed in order to accomplish the set goals. The
study includes value of different business function in attainment of success in current
competitive environment.

Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
Conclusion.......................................................................................................................................5
References........................................................................................................................................6

Introduction
There is numerous business functions are performed in the organization to a team
redefined goals successfully (Rahmi and Rufaidah, 2018). These functions are important for the
realization of set business goals. The present report is based on Tesco. This study will cover
significance of different business functions like marketing, human resorts, finance and
operations.
Main Body
Business is a commercial entity which is operated by combining various activities like
finance, marketing, at charge and so on (Arce, 2021). To ensure success of a business entity, it is
vital to perform all these functions in an appropriate way. in this regard, significance of business
functions are mentioned below.
Marketing: In marketing, products or services are promoted through advertisement and
promotional activities. The main aim of marketing is to enhance the brand awareness and create
a positive image of brand in market. Marketing plays a crucial role in attracting people towards
product or services (Bogoviz and et. al., 2019). In, Tesco, marketing campaign helps the
company in maintaining positive influence on customers. Additionally this function also makes
the company enable to get an edge over competitors in the market.
Finance: It is one of the essential business functions that is related to procuring,
allocating as well as managing the funds within organization. The Main function of finance
department is to ensure that the company maintains a good financial position in terms of revenue
and profitability (Alam and et. al., 2021). Presence of finance department is crucial to manage a
strong financial position of the company. In context of Tesco, finance is an important function
that is used in order to manage the funds effectively.
Human resource: In HR function, numerous activities are performed so that in order to
manage the employees of the company efficiently. It includes several activities such as training
and development, recruitment, motivation and more (Boyzoqova, 2020). In context of TESCO,
HR function significantly helps in hiring efficient candidates who have the capability to perform

the assigned work in an efficient manner. Additionally, they also make sure to maintain positive
atmosphere at work place.
Operations: Here, operations management is one of the crucial business functions. In
this, it is ensured that daily business operations are maintained in an efficient manner. Effective
operations management is crucial to produce quality products or services. In addition, operations
also play a vital role in minimizing the wastage so that quality products can be produced (Cosenz
and Noto, 2018). In context of TESCO, they maintain effective operation management in order
to maintain consistency in production. With proper operations management, company is able to
supply the goods to the customer in timely manner.
With the above discussion, it is analyzed that each and every business functions has its
own significance in business. These functions play a vital role in ensuring the success and
growth of the business entity.

Conclusion
The above stated details demonstrate the significance of different business functions like
marketing, finance, HR and operations. These all business functions are significant for
the growth and success of an entity.

References
Books and journals
Alam, M.K., Ab Rahman, S., Tabash, M.I., Thakur, O.A. and Hosen, S., 2021. Shariah
supervisory boards of Islamic banks in Bangladesh: expected duties and performed roles
and functions. Journal of Islamic Accounting and Business Research.
Arce, D., 2021. Integrating Giving Voice to Values across Business Fields and Functions.
In Giving Voice to Values (pp. 56-71). Routledge.
Bogoviz, A.V., Lobova, S.V., Ragulina, Y.V., Alekseev, A.N. and Khachaturyan, K.S., 2019.
The Role and Functions of Mediator in the Process of Decision Making in Modern
Business Systems. In The Leading Practice of Decision Making in Modern Business
Systems. Emerald Publishing Limited.
Boyzoqova, D., 2020. LOGISTICS AND SOCIO-ECONOMIC FUNCTIONS OF SMALL
BUSINESS. Экономика и социум, (11), pp.90-93.
Cosenz, F. and Noto, G., 2018. A dynamic business modelling approach to design and
experiment new business venture strategies. Long Range Planning, 51(1), pp.127-140.
Rahmi, A.U. and Rufaidah, P., 2018, December. The Effect of Key Success Factors Based on
Business Functions on Competitive Advantage. In Journal of International Conference
Proceedings (JICP) (Vol. 1, No. 2).