Business Functions Report: Marketing, Finance, HR at Tesco - Analysis

This report provides an overview of key business functions, including marketing, finance, and human resources, with a focus on their individual roles and their collective impact on business success, using Tesco as a case study. The marketing section highlights how businesses, such as Tesco, engag...Read More

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Table of Contents
INTRODUCTION...........................................................................................................................3
Roles of Marketing .....................................................................................................................4
Finance........................................................................................................................................4
Production ..................................................................................................................................4
Human resource department.......................................................................................................4
Significance to all department working together........................................................................4
CONCLUSION ...............................................................................................................................5
RESOURCES.................................................................................................................................5

INTRODUCTION
Business functions are known as the activities that are carried by several firms as they
are able to aid the core function and support functions. Present study focused on Marketing
role,Finance role as well as Human resource department and at last focuses on significance of
working together of different departments.

Roles of Marketing
The needs of the costumer can easily be understand through the marketing as it plays a
significant role that can influence the business. It focuses on various firms such as Tesco
communicate directly with their clients by the advertising that can assist them to make the
relations. As per the point of view of costumers Firm can thanks them by the help of cubcard
and utilises as a key tool so that it can give voice to the costumers (Fee. and McGrath-Champ,
2017). It also aids the decision as well as measure the performance of the staff members and
organization. There are also several strategies of price where the marketing team of the Tesco
track the prices of the competitors so that they can beat the competition.
Finance
Tesco is known as the sole trader as the functions that are related to the functions are need of
enough amount of the finance that can aids to carried the businesses of Tesco. It also highlights
on the cost,prices and products. Finance department makes the plan and forecast about the
happening in the future (Larder, Sippel. and Argent, 2018). This department also focused on the
cash flow. The finance department primary focuses on paying wages,account as well as salaries.
They are also accountable for obtaining resources and capital that aids to allocate budget.
Production
Tesco is known as the successful retailer as it can produce own products so that they can easily
fullfill the need of the people. Such as people nowadays are more aware towards health
so in order to take care of people Tesco produce the organic food items. Production of
the Tesco takes place when the raw materials converted into the end products. Also the
extensive market research can also be taken by firm.
Human resource department
This department is responsible for selection and recruitment ,training of the employees. It
also take care legal procedures of the firm,payroll of the employees,appraisal of the
employee (Mu, 2017). Responsible for the conflict management between the employees
and aids to build the relationship among the employees and firm . This department
motivates the employees with Monterrey and Non Monterrey funds.
Significance to all department working together
All the departments working so that they can perform the various business function to achieve
the common goals. Such as operations and HR perform several operational functions.

Human Resource and operations work together so that they can perform several
operational functions. It also provides training to the employees of the operational
department. Also finance department allocates resources as well as funds to marketing
(Larder, Sippel. and Argent, 2018). Human resource as well as various more to gives
goals as well as objectives. Production department also produces goods and services as
per the need of the market supply and demand.
CONCLUSION
From the above it had been concluded that Marketing helps to communicate directly
with their clients and track the prices of the competitors. While Finance forecast cash flow and
focuses on paying wages,account. HR builds relations, manage conflict and responsible for
selection and recruitment. Production takes place when the raw materials converted into the end
products.
RESOURCES
Books and Journals

Fee, A. and McGrath-Champ, S., 2017. The role of human resources in protecting expatriates:
Insights from the international aid and development sector. The International Journal of
Human Resource Management, 28(14), pp.1960-1985.
Larder, N., Sippel, S.R. and Argent, N., 2018. The redefined role of finance in Australian
agriculture. Australian Geographer, 49(3), pp.397-418.
Mu, J., 2017. Dynamic capability and firm performance: The role of marketing capability and
operations capability. IEEE Transactions on Engineering Management, 64(4), pp.554-565.