Graduate Challenge: Business Functions Report Analysis - Tesco

This report provides an executive summary analyzing the business functions of Tesco, a major retail organization. It delves into the roles and importance of the marketing, finance, human resource, and operations/production departments within the company. The report highlights the significance of each function in achieving organizational objectives, emphasizing how the marketing department understands customer needs and enhances brand value, the finance department manages funds and provides financial advice, the human resource department handles employee-related matters, and the operations/production department focuses on manufacturing and cost reduction. Furthermore, the report stresses the crucial links between these functions, emphasizing the need for coordination and how each department supports the others to achieve Tesco's overall goals. The conclusion reinforces the individual importance of each function and the necessity of their effective integration for organizational success. The report includes references to relevant academic sources and online resources.

Graduate Challenge Business
rapier

Executive Summary
Success of organisation is highly dependent on individual success of the organisational functions
and how well they link with each other. This report had discussed about different functions of
organisation and their link.

Table of Contents
INTRODUCTION...........................................................................................................................4
Main Body.......................................................................................................................................4
Marketing department..................................................................................................................4
Finance Department.....................................................................................................................4
Human resource Department.......................................................................................................4
Operations/production Department.............................................................................................5
Link of business functions...........................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business functions can be defined as activities that are carried out in order to achieve
vital organisational objectives. This report will discuss about functions that are carried out in
organisation and their link with each other in context of Tesco.
Main Body
Marketing department
Marketing department can be defined as area of the organisation that deals with all
activities concerned with marketing of the organisation (Kirova, 2017). Importance of marketing
department in Tesco is as follows-
 Marketing department of Tesco help in understanding customer needs and requirements
through research
 Marketing department of Tesco track trends and monitor competition for Tesco
 Play important role in creating and enhancing brand value
Finance Department
Financial department of the organisation is a part of organisation that is responsible for
acquisition of funds, managing funds within organisation and planning for expenditure for
organisation (Fatema, 2017). Importance of financial department is as follows-
 Financial department is highly important for day to day management of accounts and
undertake bookkeeping
 Financial department is also important for advising and sourcing long-term financial
advice for Tesco and suggest profitable financial investment based on research
Human resource Department
Human resource department can be defined as functional area that deals with the matters
of involving employees, in terms of hiring, training, compensation, labour relations and benefits
(Diskienė, Stankevičienė and Jurgaitytė, 2017). Importance of Human resource Department is as
follows-

HR department is important for ensuring right number and right types of employees are available
in Tesco
 In order to ensure training and development, compensation, grievance, legal compliance,
employee management HR department plays a key role
 HR department is also important because it works as mediator. This means it represents
Tesco in front of employees and represent employees in front of Tesco
Operations/production Department
Production department can be defined as area within business responsible for
manufacturing (Production department, 2018). This department undertake activities related to
converting raw material into finished goods. Importance of production department in Tesco-
 Production department is important for identifying input and scheduling production
 Production department also plays important role in reducing cost of product and
maintaining its quality up to standards
Link of business functions
Every department and function has their individual importance but in order to achieve
organisational objectives it is important that activities are linked together. Effective coordination
of different activities in organisation is important for bringing effective results. For example HR
requirements of finance, production are completed by HR department (Why is human resources
(HR) important, 2020). Financial requirement and planning of all departments is done and
undertaken by finance department. This is how business functions link together so that
organisation can achieve their overall objectives.
CONCLUSION
On the basis of above discussion, it can be concluded that every function has their
individual importance that suggests why they are important for organisation. But in order to
achieve overall organisational objectives it is important that activities link together well and one
activity complement ad support other functions.

REFERENCES
Books and Journals
Diskienė, D., Stankevičienė, A. and Jurgaitytė, N., 2017, December. Challenges for human
resource department: The case of millennials in the workplace. In ECMLG 2017 13th
European Conference on Management, Leadership and Governance: ECMLG
2017 (p. 67). Academic Conferences and publishing limited.
Fatema, K., 2017. Functional overview of finance department: Avery Dennison Bangladesh.
Kirova, V., 2017. Exploring the role of strategic marketing department. Journal of Marketing
Development and Competitiveness. 11(2).
Online
Production department. 2018. [Online]. Available Through:
<https://www.accountingtools.com/articles/2017/5/16/production-department>.
Why is human resources (HR) important? 2020. [Online]. Available Through: <
https://www.breathehr.com/blog/topic/business-process/why-is-human-resources-
important#:~:text=HR%20plays%20a%20key%20role,business%20culture
%20covered%20by%20HR. >