MG408 Graduate Challenge Business Functions Report Analysis

This report analyzes the crucial role of various business functions within an organization, using Tesco as a case study. It defines and explores the significance of marketing, finance, operations/production, and human resources, emphasizing their interconnectedness. The report highlights the responsibilities of each function, such as marketing's customer focus, finance's financial management, operations' product development, and HR's employee management. It underscores the importance of these functions working collaboratively to achieve organizational goals, providing examples of how their integration leads to success. The report concludes by emphasizing the impact of each department on the overall success of a business.

Business

Table of Contents
Introduction.................................................................................................................................................3
Role of business functions within Tesco..................................................................................................3
Conclusion...................................................................................................................................................4
REFERENCES............................................................................................................................................5

Introduction
Business functions refer to operations or processes that are being performed on routine
basis for carrying out part of mission of organization. Basically, they denote activities conducted
by firm to attain their objectives as well as goals (Campbell, Martin and Fabos, 2018). This
report is based on Tesco that is retail firm based in United Kingdom. This report will provide
insight into business functions of organization.
Role of business functions within Tesco
The set of activities that are being performed by departments which are being initiated by
certain events or business commitments and procedures for attaining relevant outcome is defined
as business functions. With respect to Tesco, these functions are illustrated below:
Marketing: This function is not only about advertising but also has direct contact with
customers of Tesco. They are liable for carrying out research and identify probable opportunities
that can be utilized by Tesco to examine their customers, need of market, reaction of people
towards their offerings and many more are there. They work in collaboration with operation and
test products furnished by them to acknowledge that market is open to utilize them.
Finance: They are liable for addressing all issues associated with managing money as
well as their flows around the firm to ensure that each function can render their services as per
desired standards (Stern and Porr, 2017). This function formulate decisions in context of
adequate sources for finance for each operation, maintain in and out flow of money so that
balance can be attained. Furthermore, they also collect debts and manage overall expenses.
Production or Operation: This function within Tesco is liable for development of new
product in coordination with marketing. In addition to this they also carry out systematic
research to bring in innovation within offerings so that they can captivate wide range of
population. They also plan activities for production like optimum location at which production
can be carried out, machinery needed and many more.
Human Resources: This function is accountable for managing people, they recruits
employees, train them so that they can work as per rules and policies of firm (Hanlon, 2019). HR
function will ensure that they make payments on the basis of job worth, benefits that must be

provided to employees, leaves and many other aspects. Within Tesco, HR also emphasize on
developing impelling relation with their employees.
All these functions work as a single unit so that firm can attain their objectives and goals in
relevant manner. An instance can be taken to understand significance of these functions; finance
department is liable for formulation of budget and for this communication is needed with
different departments to acknowledge their requirements. Marketing cannot be carried out if they
do not have adequate details about what is being furnished by production function (Perreault,
2018). Furthermore, HR function need to know whether any function needs human resources or
not so that they can work accordingly. Thus, it clearly illustrates that each function is directly or
indirectly associated with one other for ensuring that functionalities are not hampered.
Conclusion
From above it can be concluded that, within organization each department have different
roles and responsibilities that are essential to be carried out. Furthermore, each have significant
impact on one other so the success or failure of firm entirely depends on ways in which these
functions deliver their services.

REFERENCES
Books and Journals
Campbell, R., Martin, C. and Fabos, B., 2018. Media essentials: A brief introduction.
Bedford/St. Martin's.
Hanlon, A., 2019. Digital Marketing: Strategic Planning & Integration. SAGE Publications
Limited.
Perreault, W.D., 2018. Essentials of marketing. New York: Mc Graw Hill.
Stern, P.N. and Porr, C.J., 2017. Essentials of accessible grounded theory. Routledge.