University Business Studies Report: HR, Marketing, Finance at Tesco

This report provides an in-depth analysis of key business functions, including the roles of human resources, marketing, and finance within an organization. It explores the importance of these functions in driving business success, with a specific focus on how they operate within the context of Tesco, a multinational company. The report examines the functions of HR in recruitment, employee relations, and performance management. It delves into marketing strategies, emphasizing consumer needs and brand reputation. Furthermore, the report analyzes the finance function, including financial planning, management, and collaborative working practices. The report also highlights the significance of collaborative working practices in fostering innovation and improving team performance. Finally, the report discusses financial management, including financial planning, capital management, and cash flow management. The report concludes that these elements are crucial for organizational success and competitiveness.

Introduction to business
studies

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Role of human resources.............................................................................................................3
Role of marketing........................................................................................................................4
Role of finance............................................................................................................................4
Collaborative working practices.................................................................................................5
The role of financial management...............................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business studies is a study in which analyse the market position, how to make the budget
for investment. This subject is studied in schools, collages and university, so that students are
looking forward to become a excellent enterprenuer. Students are able to willing acquire new
innovation. It also involve the component of accountancy, finance, marketing, organisations
theories and operations. This study is wide in social science and studies, human resource
management, man power planning, e-commerce and marketing which includes the overview of
the enterprise for start up new business. This reports includes the role of human resources,
marketing and function with the organisation and the understanding of collaborative working
practices and the act of financial management. In the context of Tesco limited. Tesco is British
multinational company which deals in grocery, clothing and other segments(Ghauri, Grønhaug
and Strange,2020).
MAIN BODY
Role of human resources
HR plays very important role in every corporation. Which operations the function of selection,
recruitment, workforce of the company, organisation sector, enterprise or economy of the
company. Human resources looks forward in different variations of the candidates In terms of
law of labour, salary structure, incentive, standards, and advantage for the employee, so in this
act personnel feel happy . This thing build good relationship between employer and the
employee. Because HR full-fill the needs of the personnel in best way along with the efforts.
This role gives advantage to the company and the employees so business are able to run
smoothly which emphasises excellence towards the company. Human resources involve the
performance, training skills, researches, employee, potential, leadership skills and recruiting. In
the relation of Tesco , the act of human resources manager are present the various task for
everyday to complete the projects and gives best results. There are some points to cover the act
of Human Resources:
Recruit candidates-
The first part of human resources have to analyse the company after that understand the industry
needs, what is need of the company for expand the business, give right job to right person, those
specialised in particular field. When Human resources do their selection process for the

candidates, they have to identify the market and discuss with stake holders and maintain budget
for the operation after that give jobs to the employees(Van Tulder, Verbeke and Piscitello,
2018).
Role of marketing
Meets consumer needs and wants: In the relation of Tesco, it analyse the customer
needs acquire the marketing element. After that they influence the consumer and work on its
needs and keep satisfy through the exchange process.
Sure about organization survival, growth and reputation: In context of Tesco it
roaming in market because customer retention and increase in market area. Which encourage to
acquire aims and goals of the organisation and also emphasise to complete the demand and
satisfy the expectation of customer.
Best product offerings: Many organisation sell their products along with the trade mark,
the concern company sell their product with labelling, well packed and in hygienic. Also provide
the best services for the consumers. In this act marketing is a spinal code of the company in this
it designs and manages the offers of the goods(Olalla and Merino, 2019).
Role of finance
Finance involves the administration of the money for the corporation, also make plan
how monetary value is needed in certain time of period. It defines the use with present data of
monetary resource(Nicolescu and Nicolescu, 2019).
The importance of understanding the finance: In the addition of Tesco, it shows the
need of company, requirement of fund, allocation of money, how to do the expansion of food
market, wellness and sales.
Manage the financial status of the organisation: Administration of finance in relation
of Tesco which provide the funds, maintain the budget, manage the fund, in the corporation and
go ahead for expenses of amount on different qualities.
Financial planning: It includes the short term and long term tactics in terms of fund
flow of the corporation. In term of Tesco this concern organisation it looks forward on objectives
of financial planning to make the revenue and profitability along with utilization of funds.

Collaborative working practices
Collaborative working practices, it increases the results, majority of the employee, performance
and culture of the organisation. It also makes the new innovations, creativity, ideas about the
product and lead the team member in responsible way and encourages towards the diversification
of creativity or find new things. Collaboration act is very important in the corporation, work
force are looking forward to acquire their objectives, expand the business and work for
improvement for the project(Jones, 2019).
Tesco uses the different segments with the advantage. It keep support situation solving, it
includes the different mind to come-up with the solutions. Collaboration refer the single person
work on particular problem of the company so in which employee able to solve the problem and
gives the result. Team member include their ideas which push forward to deal with difficult
situation.
As per the Tesco, marketing improves ideas, communication, effective communication
makes attention to the customers, which gives the advantage to the organisation in term of well
educated staff. Employees are very talented, they know how to deal with conditions, how to
influence the people about goods and how to sale the product this thing based on effective
communication. If employee are to conduct the session or know to convince the customer so,
nothing is impossible to acquire the outcomes and business will run smoothly. Collaboration
practices need the discussion on action with the employee along with the elaboration. This
process gives more ideas and authorities to present new product in the market( Repko, Szostak,
and Buchberger, 2019).
Tesco forecasting the need of finance which corporation willing to full their short term
forecast and fund flow forecast which completes through the collaborative working practices
which makes revenue and expenses for particular time of period it approximately one year and
cash inflow or outflow it based on expected sales and antithetic cost. It support to recover the
previous financial statement which gives benefits to the company. In relation of finance
collaborative working practice is important act in the company for long time tactics. Finance
plays major act in budget, if company sets plan for the expenditure on the activities for example
promotion, marketing, introducing etc. organisation maintain the budget, this process will help
to run business in ethical manner. Organisation establishing the fiscal control. It is method in

company do the comparison of the revenues, expenses, cost, taxation, on yearly basis which
spent on those action plans. It gives overview to recover the accounts are changeable from the
financial actions. Most of the organisation stop the financial review for a certain time in which it
recover the amounts control over the finance( Paul and et .al., 2018).
The role of financial management
Financial management is responsible for allocating the fund and concern with profit,
expenditure, cash and credit, in which company carry all the financial factors. It also rotates the
money(Yeung, 2018).
In direction of Tesco, financial management plays a crucial part in making the decision
which related finance, control on the expenses in the organisation. They use various strategies
and different techniques such as analysis of ratio, financial forecasting, p&l findings etc.
It involve the financial planning which looks the financial activities of the company with
resources. Organisation choose the correct data to know the demand and priority of the
organisation with the economical aspects and make the budgets(Howitt, 2019).
It include capital management which looking forward for financial direction to estimate
about capital necessitate of the corporation from as per the time, which determines the capital
construction and select the origin of financial support for the capital needs.
Achieve the utilization of resources in the finance, management sure about the resources
of the financial aspect of the organisation. It invested significantly so organisation makes profit
ratio and liable for the long term which able to stand continuously.
It do contribution in cash flow management, which is mandatory for the organisation
which they have nominal working capital and cash flow to see the durable financial loss. It
covers the payable account and receivable to sure cash flow is present for all time.
Financial management helps in reports which relates towards the finance of the
organisation and build the data plan for the activities in term of financial administration(Dumas
and et .al., 2018).

CONCLUSION
This report conclude the all the factor in addition of human resources, financial areas,
marketing which play very important part in the organisation. It see the overview of the
corporation which comes with positive and negative result include practices of collaboration
which shows the majority of the employee and good team work. It look like working together,
sharing the thoughts and implement on it for select their goals and increase the expansion of
enterprise. In last also conclude the financial management which manage the funds make the
budgets for upcoming activities so enterprise run significantly. These all factor are plays major
act in the organisation and without this element organisation is incomplete. To start up the new
enterprise organisation need monetary value, location, workforce. These factors are carry
forward the organisation towards the excellent excellence in which success comes automatically.

REFERENCES
Books and Journals
Dumas, M., and et .al., 2018. Introduction to business process management. In Fundamentals of
Business Process Management (pp. 1-33). Springer, Berlin, Heidelberg.
Ghauri, P., Grønhaug, K. and Strange, R., 2020. Research methods in business studies.
Cambridge University Press.
Howitt, P., 2019. The implications of knowledge-based growth for micro-economic policies.
Routledge.
Jones, L., 2019. Introduction to business law. Oxford University Press, USA.
Nicolescu, L. and Nicolescu, C., 2019. Using PLS-SEM to build an employability confidence
model for higher education recipients in the field of business studies. Kybernetes.
Olalla, C.B. and Merino, A., 2019. Competences for sustainability in undergraduate business
studies: A content analysis of value-based course syllabi in Spanish universities. The
International Journal of Management Education. 17(2). pp.239-253.
Paul, P., Bhuimali, A., Aithal, P.S. and Bhowmick, S., 2018. Business Information Sciences
emphasizing Digital Marketing as an emerging field of Business & IT: A Study of
Indian Private Universities. IRA International Journal of Management & Social
Sciences.(ISSN 2455-2267). 10(2). pp.63-73.
Repko, A.F., Szostak, R. and Buchberger, M.P., 2019. Introduction to interdisciplinary studies.
SAGE Publications, Incorporated.
Van Tulder, R., Verbeke, A. and Piscitello, L., 2018. Introduction: international business in the
information and digital age–an overview of themes and challenges. International
Business in the Information and Digital Age. pp.1-13.
Yeung, H.W.C., 2018. Economic geography and international business. The Routledge
Companion to the Geography of International Business.pp.177-189.