Business Functions: Marketing, Finance, HR, and Production Report

This report provides an analysis of the roles and importance of key business functions within an organization, specifically using Tesco as a case study. The report begins with an introduction outlining the essential functions of marketing, finance, operations/production, and human resources. Each function is defined, and its significance to organizational growth and profitability is discussed. The marketing function focuses on branding and customer relationships; finance addresses fund acquisition and allocation; operations/production manages product and service development; and human resources handles recruitment and employee management. The report emphasizes the interdependence of these functions, highlighting how their collaborative efforts contribute to cost reduction, target achievement, and customer satisfaction. The conclusion summarizes the importance of these functions working together to achieve business goals and ensure marketplace success. The report also includes references to academic texts and journals to support its findings.

Business Report
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INTRODUCTION...........................................................................................................................3
Importance.......................................................................................................................................4
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6
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INTRODUCTION
There are different types of functions or department those who perform their operations
within an organisation. All these functions are essential for organisational successful growth and
profitability (Laisasikorn and Rompho, 2019). Present report includes the role of finance,
production, marketing and human resource within Tesco. Company operate their functioning as
British multinational groceries and general Merchandise retailing organization. In addition to this
importance of different function is also being covered in this report.
Marketing
Marketing function is one of the most essential activities that formulate relationship
among consumers and organisation by offering products and services to them (Kumar and
Mishra, 2019). This function is responsible for branding organisation the marketplace through
advertising and interacting with customers. This function is responsible for the subsequent
growth of entity. In marketing function, activities such as research, communication, planning,
product development, promotion selling and more are conducted with an aim to increase overall
sales ratio of organisation. For example, the company used adverstiment on social media for
aking people aware baout its new product and encourage them for purchasing that helps to
increase sales. It includes sales promotion in Tesco through clubcards, free gifts, point of sale
materials etc.
Finance
Finance is termed as a life blood of any business entity. This function is related to
acquiring and utilising funds for efficient operations within an organisation in order to make sure
that all the operations within company run smoothly (de Waal and et. al., 2019). This function
maintain proper budget of organisation as to control cost, increase profitability and enlarge
market share holding of entity. For instance, the given company can use sources of funds like
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bank loans to execute their new project by managing funds in different departments through
making budgets to complete desired goals successfully.
Operations/Production
This department is responsible to manage the process and development of products and
services. In this function activities such as planning, organising, coordinating and controlling are
being duly undertaken (Kishore, Pretorius and Chattopadhyay, 2019). In order to manage
resources of company in a best effective manner as to generate value for company. For example,
it includes to make production strategy to improve features of products in order to fulfil changed
needs and wants of clients for retaining them with brand to enhance profitability of business.
Human Resources
Human resource function is one of the most important functions within an organisation as
in this recruitment and selection of potential and skilled candidate is being done with the
activities like staffing, training, managing etc (Alsaadat, 2019). This function includes
recruitment of efficient candidates for organisation as to increase overall productivity of
company in a significant manner. For instance, a manager hire a candidate with experience of
working in marketing for 2 years in marketing department to fulfil roles & responsibilities.
All these functions have significant role within Tesco along with this they perform their
operations with the motive to increase company long term sustainability and growth within
Marketplace.
Importance
Major importance of different business function is that, activities that are being performed in
these function lead organisation to achieve success and growth in a significant manner (Sheng
and et .al., 2019). All these functions perform their roles towards a common motive which is to
create value for entity. Within Tesco functions like finance, marketing, human resource and
productions are being involved those who significantly operate their functioning to increase
profitability of company. It has been identified that by performing their roles together company
can not only able to decrease unnecessary cost but can also able to accomplish targets in more
effective manner and can serve their customers with best.
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CONCLUSION
As per the above mentioned report it has been concluded that within an organisation there
are different functions that are being performed in order to accomplish business goals and
objectives. It is essential for all these functions to work together in order to fulfil main motive of
an organisation which is to ensure successful growth within marketplace and gain large
profitability.
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REFERENCES
Books and Journals
Kumar, P. and Mishra, J.M., 2019. Destination marketing & management organisation in India:
Conceptual evolution & present status. Asian Journal of Multidimensional Research
(AJMR), 8(11), pp.11-22.
de Waal, A and et. al., 2019. Identifying the characteristics of a high-performance finance
function. Journal of Advances in Management Research.
Kishore, N., Pretorius, J.H.C. and Chattopadhyay, G., 2019, December. The Roles of Functional
Managers and Project Managers in a Matrix Organization. In 2019 IEEE International
Conference on Industrial Engineering and Engineering Management (IEEM) (pp. 784-
788). IEEE.
Alsaadat, K., 2019. Strategic human resource management technology effect and implication for
distance training and learning. International Journal of Electrical and Computer
Engineering, 9(1), p.314.
Sheng, X. And et .al., 2019. The curvilinear relationship between daily time pressure and work
engagement: The role of psychological capital and sleep. International Journal of Stress
Management, 26(1), p.25.
Laisasikorn, K. and Rompho, N., 2019. A study of the relationship between a successful
enterprise risk management system, a performance measurement system and the financial
performance of Thai listed companies. American Journal of Business, 10(2).
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