Tesco PLC Business Functions: Achieving Goals and Objectives Review

This essay provides an overview of essential business functions and their role in achieving organizational goals, with a focus on Tesco PLC. It examines core functions such as marketing, finance, human resources, and operations, highlighting their respective contributions to the company's success. The marketing department defines and manages the brand, creating effective campaigns and analyzing market needs. The finance department manages funds and ensures accurate financial records. The HR department focuses on maintaining a talented workforce and fostering job satisfaction. The operations department aims to reduce costs and improve efficiency. The essay concludes that these business functions are vital for a company's income generation, efficiency, and overall effectiveness. Desklib provides access to similar essays and study resources for students.

The graduate challenge

Executive summary
Business functions is an essential activity that businesses need to attempt in order to achieve
their goals and objectives. These activities helps the organisation in completing their tasks and
will make sure that the company is able to produce goods and services according to the needs
and demands of the customers. It is important for the companies to have efficiently working
departments as it will improve the processes of the company.

Table of Contents
Introduction......................................................................................................................................4
Main body........................................................................................................................................4
Marketing: ................................................................................................................................4
Finance: .....................................................................................................................................4
Human resource: .......................................................................................................................4
Operations/ Production: ............................................................................................................5
Conclusion.......................................................................................................................................6

Introduction
Business functions are the activities that are carried out by the organisation in order to
achieve their goals and objectives. There are two types of business functions that are core
business functions and support business functions (Rappoport., 2021). Core business functions
refers to the activities that are generating income for the business whereas support business
functions refer to the activities which supports the production activities of the company. In
context to Tesco, the company is headquartered in England and was founded in the year 1919. It
is a groceries and merchandise retailer and is one of the most successful organisations
headquartered in UK. This report covers the role and importance of different departments of an
organisation and how they can help the company in achieving their goals and objectives.
Main body
Business functions: Certain business functions of Tesco PLC are given below:
Marketing:
The role of marketing department is to promote the goods and services of the comapny. They
have a primary duty of defining and managing the brand. In context to Tesco, the marketing
department creates effective campaigns for the initiatives of the company and proactively
analyse the needs and demands of the market.
The marketing department of the company makes sure that correct information as well as
any new product that the company is going to launch in the market is reaching to wider audience
(Lin and et. al., 2018). It helps the company in increasing their sales which will increase the
profitability of the company.
Finance:
The role of finance department in the organisation is to acquiring and managing the funds for the
activities of the company. In context to Tesco, the finance department have the responsibility to
allocate the funds of the company effectively and efficiently.
The finance department of the company not only manages the funds of the company but
will also ensure that the books of the company are accurate and transparent (Sengupta and et. al.,
2020). The budgets and forecasting for the funds of the company will also be done by the finance
department of the company.

Human resource:
The human resource department makes sure that the company is having a pool of talented
employees which can be served as an asset for the company (Hashizume and et. al., 2021). In
context to Tesco, the role of HR department is to make sure that business is running smoothly
and continues to evolve from time to time.
The HR department of the company is important as it help the company in providing job
satisfaction to their employees which will reduce the employee turnover rates of an organisation.
Operations/ Production:
Operation or production department of the firm is the foundation of a successful business
(Laukkanen and Tura., 2020). In case to Tesco, the aim of the department is to reduce the cost of
the products or services by making the process of the company effective and efficient and by
reducing the wastage in the process.
It is important for the organisation to have operations department as it is responsible for
planning, organising, directing and controlling the daily activities of the operations department
and will also make sure that operations of the company is running smoothly and without any
interruptions.

Conclusion
From the above essay, it is concluded that business functions help the organisation in
completing tasks which are essential for income generation of a company. Primary functions as
well as supporting functions will help the organisation in increasing the efficiency and
effectiveness of the business activities of a company.

References
Books and journal
Hashizume and et. al., 2021. Price discrimination with network effects: different welfare results
from identical demand functions. Economics Bulletin, 41(3), pp.1807-1812.
Laukkanen, M. and Tura, N., 2020. The potential of sharing economy business models for
sustainable value creation. Journal of Cleaner production, 253, p.120004.
Lin and et. al., 2018. Using online opinion leaders to promote the hedonic and utilitarian value of
products and services. Business horizons, 61(3), pp.431-442.
Rappoport, I.S., 2021. Method of Resolving Functions for Game Problems of Approach of
Controlled Objects with Different Inertia. Cybernetics and Systems Analysis, 57(2),
pp.296-312.
Sengupta and et. al., 2020. Reinventing HR functions with SMAC technologies-an exploratory
study. Materials Today: Proceedings.