Business Report: Evaluating Key Business Functions (MG408, 2020-21)

This report, prepared for the MG408 Graduate Challenge module, examines the critical roles of marketing, finance, production, and human resources within a business context, using Tesco as a case study. It defines the functions of each department and explains their significance in achieving organizational goals. The marketing department's role in promoting goods and services, the finance department's function in managing funds, the production department's responsibility for efficient resource utilization, and the human resource department's role in employee management are all discussed. The report emphasizes the interconnectedness of these departments, highlighting how their collaborative efforts contribute to overall business success. The report concludes that for effective business operations and success, all departments must work together, as they are interdependent. The report also includes references to academic texts supporting the analysis.

Business Report

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Explain the importance of marketing, finance, production and human resources.................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Organisation refers to a group of people who are working together for the achievement of
common goal (Barros and et. al. 2020). For success of an organisation it’s important that all
members of organisation are work with their full efficiency. For smoothly running business
operations its management require to follow all factions in an effective way. Various functions of
management such as planning, organising, staffing, directing and controlling are effectively
performed by different departments of organisation. An organisation includes various
departments for managing its business activities such as human resource, marketing, finance,
production department and so on. For this report Tesco is taking into consideration. It is an
multinational retail company established in 1919, headquarter is in London, U.K. This report
includes importance of various type of departments such as marketing, finance, production and
human resource.
TASK
Explain the importance of marketing, finance, production and human resources.
All these functions of an organisation play an important role in the success of an
organisation. Efficient working of all these function help organisation to achieve higher growth
in future and earn high revenue. Importance of all these functions of organisation are mention
below:
Marketing Department- Marketing refers to an activity which is undertake by a company for
promoting buying and selling of goods and services. It includes various activities such as
advertising, selling, and delivering products to customers. While marketing department conduct
all these activities for enhancing sales of company products. Marketing department play an
important role in promoting mission of an organisation. They prepare effective strategies by
considering all 4ps of marketing (Hollensen, 2019).
Finance Department- It refers to an important part of organisation which is responsible for
prepare an effective budget for organisation. It plays an important role in acquiring funds from
different sources for conducting business activities and properly managing all these funds and
expenditure in organisation (Rana and Sharma, 2019).

Production Department- It refers to a group of function in an organisation which is responsible
for efficiently utilizing it material resources and produce a good quality of products for
customers (Wyżgoł, 2021).
Human resource department- Main role of human resource department is to properly manage
employees in an organisation. This department is responsible for all activities related to workers.
It includes recruiting, selecting, hiring, training, promoting and so on (Yakubu and et. al. 2018).
Importance of organisation functions-
For success of any organisation it’s important that their all departments are working
together. In context of Tesco, its marketing department effectively conduct its marketing
operations when finance department provide require finance for conducting marketing activities
and human resource department provide efficient employees to marketing department for
effectively conducting their marketing campaign. Form this it is evaluated that for effectively
conducting all operations of organisation its necessary that all department are working together.
This is because all departments needs are based on each other.
CONCLUSION
From this report it is concluded that for effectively performing business operations and
success of a business it’s necessary that all departments of organisation are working together.
This is because all departments in an organisation are interrelated with each other.

REFERENCES
Books and Journals
Barros, O., and et. al. 2020. Improving service in an emergency department by designing the
health production flow. Health services management research, 33(2), pp.76-85.
Hollensen, S., 2019. Marketing management: A relationship approach. Pearson Education.
Rana, G. and Sharma, R., 2019. Emerging human resource management practices in Industry
4.0. Strategic HR Review.
Wyżgoł, M., 2021. Dwelling after Makuria: the organisation and function of space in houses of
the Funj period in Old Dongola, Nubia. Azania: Archaeological Research in Africa, pp.1-
25.
Yakubu, A.S., and et. al. 2018. Effect of financial development on international trade in Africa:
Does measure of finance matter?. The Journal of International Trade & Economic
Development, 27(8), pp.917-936.