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Tesco Finance Department

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Introduction

Tesco Finance Department Finance department of tesco: Tesco started of as a soletrader, its finance functions were carried out by Jack Cohen. A finance function is to raise enough finance to be able to afford to carry out the business, also to cost and price the product. Now as tesco is a larger PLC (public limited company) its functions are carried out by departments were the finance director is responsible for, Mr. Andrew Higginston. The finance department based at tescos is now the central office. Finance functions of tesco: Tesco employs specialist's accounters for its finance functions. In tesco's the finance department is split into two areas, which are: * Management accounting department, this is were they plan their finance for future periods; tesco also plans to set and allocate budgets to their departments. Tesco plans to make predictions about what should happen in the coming months. They look at their cash flow forecasts, what they have incoming and what they have outgoing should happen. ...read more.

Middle

In order to do this, operations need to take the inputs which are: * Land: a business needs land so they can build their factories and build their stores in different areas. * Labour: a business needs labour for the business to be successful. A business might employ specialists and general labour. They have specialists so they know what to do instead of the business training them which will take a lot of time. * Capital: a business needs capital so they are able to build all their stores/departments and to pay their staff. They also need capital to advertise the business. In order for the business to be successful they need to produce lots of good quality goods for their customers. Tesco marketing and sales Every Tesco store uses the same advertising and promotional methods, each tesco store sells the same products and research, advertising and promotion is dealt with at central offices and then communicated to each store. ...read more.

Conclusion

Tesco Promotion Tesco promotes a lot of offers to attract the customers and to make them walk in and buy what is on offer and sale. Tesco promotes in many ways such as: Money off- this works when you buy a product then with that product the next time you go in to buy something you will have money off your next purchase. E.g. when you buy nutella u get a token with it so next time you buy the product you will have 50p off. Competitions - when you buy a product it may have an advertisement for a competition you can take part in. Buy one, get one free - when you buy a product you can get the same for FREE! E.g. Tesco offers buy one get one free on shampoos. 3 4 2 - you can get three products and only pay for two. E.g. Tesco gives their music cd's three for the price of two. Free delivery - when you buy products and cannot take them home, tesco will offer you FREE home delivery. E.g. when you spend over �50 tesco will offer you free delivery. And many more! ...read more.

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