Analysis of Marketing, Finance, Operations, and HR Functions at Tesco

This essay defines and analyzes the roles of marketing, finance, operations, and human resources within Tesco. The marketing function promotes the business, creates a positive image, and informs customers. The finance function manages funds and ensures financial accuracy, which is crucial for strategic decision-making. Operations designs and manages core operations, linking various business facets and visualizing future strategies. HR shapes organizational culture, manages recruitment, and ensures smooth operations. These functions are interconnected, with finance supporting operations, HR attracting talent, and marketing driving sales and profits. The essay concludes that the interrelationship between these functions is vital for Tesco's success.

The Graduate
Challenge

Defining the role of:
Marketing
The marketing function plays an important role in the promotion of business as well as its
mission (Dronova and Horiashchenko, 2021). It searches out the suitable prospects or the
business. Further, marketing function plays vital role in creating the overarching positive image
of Tesco among the customers, market place and community. This function is important as it
helps in informing customers about the new products and services of the organization.
Finance
The finance function plays an important role in acquisition of funds for the firm. It is also
important for ensuring the accuracy of all financial records and details of Tesco. In this way, the
finance function helps the firm in obtaining information about its financial status which further
assists Tesco in determining suitable business strategy and direction. Moreover this function is
important as business relies heavily on finances for hiring employees, purchasing raw materials
and developing new products (Sundström and Hollnagel, 2017).
Operations
This function is important as it forms the centre of the organization. It designs and
manages the core operations of Tesco (Our Code of Business Conduct, 2021). By acting as an
umbrella, the operations functions establishes connections between the various facets of the
chosen organization. Thus the various aspects of a business such as human resource, finance,
supply chain etc. are all linked together with the help of operations functions (Britton and
Thompson, 2019). Moreover, the importance of this function can be understood from the fact
that it takes the responsibility of visualizing future strategy for the organization.
Human resources (HR)
The HR function is important as it plays a major role in shaping the culture of the
organizations such as Tesco. It develops and reinforces various policies and procedures which
impact the organizational culture (Sudarmo, 2020). Moreover, training and development,
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recruitment, selection, performance management etc. are other important responsibilities
performed by this function which are vital for the smooth running of an organization.
All the above mentioned functions are important for the success of organizations such as
Tesco. These functions are interlinked and work together. The interrelationship between the
various functions determines their efficient working and successful achievement of the
objectives of the organization. The operations department of Tesco has various requirements
which can only be fulfilled efficiently if finance function is well managed. The working of other
functions of Tesco such as marketing also depends on the finance function. Similarly, the human
resource function of Tesco determines the successful and smooth working of all the other
functions of the company. This is because HR function attracts the required talent to the
organization and selects them (Ramlall and Melton, 2019). This assists in fulfilling the
requirements of all the functions which leads to timely completion of various tasks and activities
of the business. The marketing function promotes the business and leads it towards success
which eventually benefits the finance, human resource and operations functions (Nagaraj, 2020).
Furthermore, marketing function helps in attracting the customers and increasing the customer
base of the organization. This in turn leads to rise in sales resulting in greater profits for the
company.
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REFERENCES
Journals and Books
Britton, C. and Thompson, E., 2019. The Business Environment: A Global Perspective. Pearson.
Dronova, T. and Horiashchenko, Y., 2021. Marketing analysis of information and
communication technologies as a factor of compliance function and business
growth. VUZF Review. 6(2). pp.100-110.
Nagaraj, S., 2020. Marketing analytics for customer engagement: a viewpoint. International
Journal of Information Systems and Social Change (IJISSC). 11(2). pp.41-55.
Ramlall, S. and Melton, B., 2019. The role and priorities of the human resource management
function: Perspectives of HR professionals, line managers, and senior
executives. International Journal of Human Resource Studies. 9(2). pp.9-27.
Sudarmo, S., 2020. Excellent Human Resource Management in Business Practices: Achieving
Sustainable. Sudarmo, S.(2020). Excellent human resource management in business
practices: achieving sustainable. International Journal of Humanities, Literature &
Arts. 3(1). pp.93-98.
Sundström, G.A. and Hollnagel, E., 2017. The importance of functional interdependencies in
financial services systems. In Resilience Engineering in Practice (pp. 171-190). CRC
Press.
Online
Our Code of Business Conduct. 2021. [Online]. Available Through:
<https://www.tescoplc.com/about/how-we-do-business/>. [Accessed on 21 October 201].
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