Importance of Business Functions: A Tesco Report - MG408

This report analyzes the business functions of Tesco, focusing on the roles of marketing, finance, production, and human resources. It defines the importance of marketing in understanding customer needs through advertising and building consumer loyalty. The finance department's responsibilities include managing cash flow, paying salaries, and allocating budgets. Production involves transforming raw materials into finished products based on market research. The human resources department handles employee recruitment, training, and conflict resolution, emphasizing the importance of recruiting the right people. The report concludes by highlighting the importance of these departments working together to achieve common goals, with HR providing training, finance allocating funds, and production meeting market demands. The report is supported by academic references, demonstrating evidence-based writing and the application of Harvard referencing as required by the MG408 module.

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Introduction .....................................................................................................................................3
Role of Marketing of Tesco.............................................................................................................3
Finance ............................................................................................................................................3
Role of production...........................................................................................................................3
Human resource department............................................................................................................4
Importance of all department to work together................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
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Introduction
Business functions are considered as the activities that can carried through various firms.
As they can divide within the support function and core functions. Present report focuses on Role
of Marketing ,Finance and Human resource department of Tesco. Furthermore Importance of all
department to work together.
Role of Marketing of Tesco
To understand the customer needs marketing plays a crucial role that can impact business
.It consists of various areas such as Tesco can direct communicate with their clients by the help
of the adverting campaigns that able to build the trust among the consumer as well as builds the
loyalty of consumers. From the perspective of the costumers Tesco can thanks their customers
through clubcard as well as used as a key tool that can used by the customer insight to champion
the voice of the consumers. It can support the decision and measure the performance of the
employees and Firm. Also, various pricing strategy set through the marketing team and also
able to track the price of the rivalaries within marketplace (Malik, 2015).
Finance
The department of Finance can begin as a sole trader as the finance function is used to
raise the sufficient amount of finance that can carried out the business. It also focuses on
price,cost as well as product. It plans to make the predictions regarding what will happen within
coming months .Firm can also look after for their forecast of the cash flow. It can also looks for
various goods as they require to cover their cost. Main responsibilities of finance is Preparing
accounts ,Paying wages and salaries, Obtaining capital and resources Allocating budgets (Wood,
Wrigley. and Coe, 2017).
Role of production
Tesco is considered a large successful food retailer and branded products as they are the
one who can produce their own products so that they can meet the requirements of the
costumers. Production takes place when the raw materials finished raw materials into the
finished products. Extensive market research can be carried out by Tesco and takes place
(Wood, Coe, and Wrigley, 2016) .
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Human resource department
They are accountable for retention, recruitment of the employees of Tesco. It is also
accountable for training,development of the employees and at the same time provides the
appraisal to the employees. They look after their payrolls and reduce the conflicts between the
employees so that workplace of the Tesco maintenances the good working conditions. They also
accountable for health and safety of the employees. Moreover, the success of the firm depends
on the hands of their workers who are working within their firm. To achieve the goals of Tesco
the Managers of the human resource needs to recruit the right people for right job as they have
appropriate skills and qualifaction (Samantara, and Sharma, 2015).
Importance of all department to work together
These all functions work together to perform business functions and achieving common goals
and objectives. For example HR and operations work together to perform various operational
functions. HR provides training to staff as per their roles within operational department Similarly
finance department allocates funds and resources to marketing HR and many more to attain goals
and objectives. Production department produces goods and services as per the market demand
and supply (Sanders, and Wood, 2019).
CONCLUSION
From the above it had been concluded that Tesco can direct communicate with their
clients through adverting campaigns as well as builds the loyalty of consumers. Finance look
after of the cash flow, Paying wages and salaries. Human resource departments accountable for
retention,training,development payrolls. Production takes place when the raw materials finished
into the finished products. Furthermore it focused on working together all department HR
provides training to staff in operational department. Finance department allocates funds and
many more.
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REFERENCES
Book and Journals
Malik, S.A., 2015. Optimising supermarket promotions of fast moving consumer goods using
disaggregated sales data: A case study of Tesco and their small and medium sized
suppliers (Doctoral dissertation, University of Kent,).
Samantara, R. and Sharma, N., 2015. Talent Management at Tesco: A Case Study. Parikalpana:
KIIT Journal of Management, 11(2).
Sanders, N.R. and Wood, J.D., 2019. Foundations of sustainable business: Theory, function, and
strategy. John Wiley & Sons Incorporated.
Wood, S., Coe, N.M. and Wrigley, N., 2016. Multi-scalar localization and capability
transference: exploring embeddedness in the Asian retail expansion of Tesco. Regional
Studies, 50(3), pp.475-495.
Wood, S., Wrigley, N. and Coe, N.M., 2017. Capital discipline and financial market relations in
retail globalization: insights from the case of Tesco plc. Journal of Economic
Geography, 17(1), pp.31-57.
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