MG408 The Graduate Challenge CW1 Business Report

This report discusses the role of different business functions in Tesco such as marketing, finance, operations/production, and human resources. It also highlights the importance of interrelation of these functions to attain success in a competitive business environment.

The graduate
challenge

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Role of business functions......................................................................................................3
Importance of interrelation of business functions..................................................................4
CONCLUSION................................................................................................................................4
REFERENCE...................................................................................................................................5

INTRODUCTION
Business is considered as the entity which involved in various operations that are related
to commercial, industrial and professional activities with the objective of generating profits.
Business is the legal organisation that produces as well as sales products and services in order to
earning profits. There are various operations are conducted by the organisation that ensures
smooth running of business. In this report chosen organisation is Tesco founded by Jack Cohen
in the year of 1919. It multinational organisation deals in range of products and services like
food and drinks, clothing and various other, headquarter of organisation established in
Hertfordshire, England, UK. This report covers different functions and their interconnectedness
with each other to attain success.
MAIN BODY
Role of business functions
In business various department work together to attain business operations in efficient
manner. Some basic functions of organisation are mentioned below:
Marketing: Marketing is considered as the effective strategies which is used by the Tesco
to promote business products and service to spread awareness in market in order to enhance
business sales and attain the objective of higher profitability. Tesco uses digital platforms and
social media marketing to promote products (Naghi Ganji, Shah and Coutroubis, 2018).
Effective marketing ensures organisational reach towards large customer base.
Finance: Finance department of Tesco is responsible for managing organisational funds,
develop planning for controlling expenditure and acquiring funds from different sources that
enable business to run operations in efficient manner. Finance department plays important role in
managing financial resources and allocating them at different level of organisation according to
requirements. Employees related to Financial department of Tesco perform various operations
such as maintaining cash flows, maintain records and develop balance sheet.
Operations/ Production: Operations department of Tesco organisation is related to
producing products and deliver them to customers. Organisation concentrates on quality of
products and ensures that that products possess necessary features which are required by
customers (Plagborg‐Møller, 2019). Respective department ensures availability of stock in
organisation for producing quality products that are going to serve to customers.

Human resource: Human resource department is related to recruiting new employees,
screening candidates, evaluate employees performance and maintaining strong relationship with
them that enhance their performance and productivity (Sultana, 2020). Respective organisation
resolve conflicts of employees, compile laws related to employment, keeping records of
employees various other that lead them in right direction.
Importance of interrelation of business functions
Functions of business are interconnected with each other and plays important role in
business to attain determined goals and objectives with efficiency. As there are various functions
are operated in Tesco in collective manner that ensures smooth running of business in
competitive environment (Urmonienė, 2019). Marketing is important for promoting products that
are developed by production department and advertising of vacant positions in organisation
whereas HR department hires suitable employees for marketing, operations and finance
department. Finance department provide funds at all level of organisation to run operations
properly. Thus, all department as well as their functions are related to each other and lead
business towards attaining success in competitive business environment.
CONCLUSION
As per above report, it can be concluded that business involve in various activities of
providing products and services in market to satisfy needs and requirements of customers. In
business various various functions are performed that are interrelated with each other and help to
attain defined goals and objectives.

REFERENCE
Book and journal
Naghi Ganji, E., Shah, S. and Coutroubis, A., 2018. Mass customisation and technology
functions: Enhancing market responsiveness.
Plagborg‐Møller, M., 2019. Bayesian inference on structural impulse response
functions. Quantitative Economics, 10(1), pp.145-184.
Sultana, S., 2020. A study on the HR functions of City Bank Ltd.
Urmonienė, D., 2019. Harmonization of functions of local self-government institutions.