MG408 The Graduate Challenge: Business Functions and Interrelation

This report explores the critical role of business functions within an organization, focusing on marketing, finance, operations/production, and human resources. Using Tesco as an example, the report defines each function and explains its importance in achieving business goals. It emphasizes the interrelation of these functions, highlighting how they collectively contribute to the smooth operation and overall success of the business in a competitive environment. The report concludes that effective collaboration between these functions is essential for organizational growth and attaining objectives.

The graduate
challenge

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Role of business functions......................................................................................................3
Importance of interrelation of business functions: ................................................................4
CONCLUSION................................................................................................................................4
REFERENCE...................................................................................................................................5

INTRODUCTION
Business is defined as the legal entity that is engaged in various commercial, professional
and industrial activities with the purpose of generating profits. Basically, businesses are
considered as the efforts and activities of an individual or group of person to produce as well as
sale goods and services for earning profits. In this report chosen organisation is Tesco which is
multinational grocery retaining organisation, headquarter situated in Hertfordshire, England,
UK. Respective organisation is founded in 1919 by Jack Cohen. In this report role of business
functions and their importance working together for the success of business.
MAIN BODY
Role of business functions
Marketing: Marketing is defined as the process that is undertake by the Tesco to promote
organisational products and services and make connection with investors, clients and customers
in order to make awareness and generate profits. Marketing plays important role in enhancing
sales of Tesco through promoting brand on various digital and social media platform, search
engine optimisation and various others (Aley, 2017). It is important for organisation to attract
large customer base towards products and services of Tesco.
Finance: Finance department is the major part of organisation which is liable to
acquiring funds in business, managing it and planning for expenditure of funds with
organisation. Finance is the essential business function that ensures financial management and
financial control which is necessary for performing business activities in efficient manner.
Financial department of Tesco involves in preparing balance sheet, maintaining cash flows and
keep records up-to-date. The main role in finance department of Tesco is to allocate finance to
different department of organisation for their smooth working.
Operations/ Production: It is the most important function of Tesco which is related to
manufacturing products such as vehicles, retaining products and various other items and deliver
them to customer in most efficient manner (Nalimova, 2020). Operations department of Tesco
ensures availability of stock that organisation going to serve its customers.
Human resource: Recruiting right talent, hiring employees, screening candidates and
managing employees relation and performance are the main functions of HR department of
Tesco. It is important for respective organisation to compiling labour and employment laws and

resolve conflicts with organisation (Rahmi and Rufaidah, 2018). Human resource department of
Tesco plays import role in recruiting, selecting, training, developing new employees, keeping
their records and developing policies for their growth.
Importance of interrelation of business functions:
Business functions and operations are interrelated with each other and plays important
role in attaining goals and objectives of Tesco in efficient manner on defined period of time.
Business function and department work in collective manner to ensure smooth running of
business. As marketing is important for promoting products in market, HR department recruits
suitable employees for marketing, operations and finance department and finance department
provides funds at all level and department of business for their efficient working (Sundquist and
Melander, 2020). Thus, all department and functions interrelated with each other and lead
business towards gaining success in competitive business environment.
CONCLUSION
As per above report, it can be concluded that businesses are involved in various functions
such as marketing, human resource, operations and finance to attain success and lead business
towards growth and success. All these functions are interrelated and necessary for performing
operations in efficient manner.

REFERENCE
Book and journal
Aley, R., 2017. Managing Business Logic with Functions. In Pro Functional PHP
Programming (pp. 147-163). Apress, Berkeley, CA.
Nalimova, A. V., 2020, August. Organization of construction based on the main management
functions. In IOP Conference Series: Materials Science and Engineering (Vol. 913, No.
4, p. 042027). IOP Publishing.
Rahmi, A. U. and Rufaidah, P., 2018, December. The Effect of Key Success Factors Based on
Business Functions on Competitive Advantage. In Journal of International Conference
Proceedings (JICP) (Vol. 1, No. 2).
Sundquist, V. and Melander, L., 2020. Mobilizing resources in product development by
organizational interfaces across firms, units and functions. Journal of Business &
Industrial Marketing.