Regent Learning MG408: Evaluate Business Functions and Interrelations

This report, submitted as part of the Graduate Challenge module MG408 at Regent Learning, evaluates the significance of different business functions within the context of Tesco. It defines a business function as a set of activities performed by various departments, emphasizing their role in productivity and interrelation. The report examines the marketing, finance, operations, and legal departments, detailing their specific responsibilities and how they interact. The marketing department focuses on promotion and customer satisfaction, the finance department manages financial resources, the operations department handles production, and the legal department ensures adherence to rules and regulations. The interrelations are illustrated by how the legal department guides marketing strategies, the finance department provides resources for operations, and the operations department is influenced by customer demand and financial factors. The report references relevant academic sources to support its analysis.

Graduate Challenge

Table of Contents
Task 1...............................................................................................................................................3
Evaluate importance of different business functions..............................................................3
Inter-relation between different department:........................................................................4
REFERENCES................................................................................................................................5

Task 1
Evaluate importance of different business functions
A business function is defined as set of activities performed by different departments of the
company. The department that is initiated by an event, materials and business commitments and
output. It is a description of work that is performed to accomplish several responsibilities of the
business. In context with Tesco various departments performs various activities which are
assigned to them accordingly. Business function plays an important role in functioning and
increasing productivity of a business and also linked with each other. Different departments of
Tesco and their inter relation is mentioned as above: Marketing department: Marketing department of a business is concerned about
promotion of goods and services and ensuring the availability and satisfaction of the
customers. The marketing department of Tesco plays a crucial role in marketing of its
goods as role off this department is to understand the needs and wants of the customers.
Also, it is responsible for making planning strategies to increase the awareness about
organisation and promoting the products to the community. Finance department: The finance department is concerned about securing financal
resources of the company and also allocating the resources to different parts of the
organisation. Finance department of Tesco has a major role in success of their business.
They perform typical tasks such as cash flows, budgeting, assets management and many
other crucial functions related to finances of the Tesco.
 Operations department: The operations department of an organisation is concerned about
production of goods and services of the company. The operation department of Tesco is
responsible towards productivity of the company. The aim of department is to equalise
the supply of material with demand of the customer(Adachi and et. al., 2018). Although operation department is accountable for producing goods and services of the
company. Legal department: Legal department of a company is responsible for implementation of
rules and regulations in the company. In context with Tesco legal department plays an
important role such as providing appropriate legal advice and correct legal opinion to the
potential problems arising in activities for running the company.

Inter-relation between different department:
Legal department of Tesco is responsible for policies and regulations which are followed
by the company. It tells to marketing department about how the company can implement its
marketing strategies and satisfy the consumer along with legal rules which must be followed.
Proper implementation of marketing strategies is only possible when the policies and laws of the
company are lawful in nature(Kouyoumdjian and et.al., 2017).
Finance department of Tesco is responsible for securing the resources it has relation with
financial department of Tesco. As financial department raise funds for the company and give
guidelines to operation department about production of goods and services as the funds are
provided by financial department to operations department. The cash flow, budgeting and other
financial factors are effected by the supply and demand of the customers which is operated by
operations department.

REFERENCES
Adachi and et. al., 2018. Academics’ perceptions of the benefits and challenges of self and peer
assessment in higher education. Assessment & Evaluation in Higher Education, 43(2),
pp.294-306.
Kouyoumdjian and et.al., 2017. A community cultural wealth examination of sources of support
and challenges among Latino first-and second-generation college students at a Hispanic
serving institution. Journal of Hispanic Higher Education, 16(1), pp.61-76.