Importance of Different Functional Roles in Marks and Spencer
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Added on 2023/01/12
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This report discusses the importance of different functional roles in the organization structure of Marks and Spencer, including marketing, finance, operations, and human resources.
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TABLE OF CONTENT INTRODUCTION...........................................................................................................................3 TASK...............................................................................................................................................3 Importance of different functional role......................................................................................3 CONCLUSION................................................................................................................................4 REFERENCES..............................................................................................................................5
INTRODUCTION Business organisation is considered as the corporate entity established in order to meet objectives of raising profitability out of the operations (Khan, Dweiri and Jain, 2016). This report is based on the case study of Marks and Spencer. Company was established in the year 1884 by Micheal Marks and Thomas Spencer. Company operates its business operations in retail sector. This report will project about different functional role involve in the organisation structure of the Marks and Spencer. TASK Importance of different functional role Organisation structure of Marks and Spencer is comprises with different functional roles that can be segregated in the following manner. Marketing Function Marketing is among the crucial functional role involved in the organisation structure of Marks and Spencer. Marketing involve promoting company's products in the target market. This functional activity effectively improves company's profitability as it has a direct connection with company's sales (Nwichi and Chukwuka, 2017). Marketing of products of company involves projecting all features and characteristic of all the retail products offers by Marks and Spencer in order to fulfil the needs and requirements of target customer's of company. Marketing also put a huge impact over company's growth potential in target market. As it improves the sales of company's products and brands which also improves growth potential of company. Finance Function Finance function is also a crucial operational activity involve in the operation functions of Marks and Spencer. Finance function involve framing budgets for conducting operations and also to project company's financial position by preparing books of accounts of Marks and Spencer. Operation Function
Operation functions involves supplying company products at all the stores and retail outlets of Marks and Spencer. It also comprises with activities like inbound and outbound logistics and other associated functions of company. Operation functional involve controlling and monitoring of all the activities associated with the business operations of the company. Human Resources Human resources has the role to develop effective strategies sin the organization to increase the potential of employees. This department support Marks and Spencer by providing effectiveemployeesrelationstrategiestoretainthem,andincreasetheirjobsatisfaction effectively. This helps the company to reduce the cost and motivates employees by rewarding them to increase their performance to achieve objectives effectively (Bailey and et.al., 2018). Human resources department also helps all the department to provide potential employees by effective recruitment and selection process of Marks and Spencer as it is very essential for company to maintain its work culture and improve the potential to compete in market to attract morecustomers.Humanresourcedepartmenthastheresponsibilitytounderstandthe behavioural patterns of all the employees to create their career progression plan and motivate them to become more effective. This department also, provide effective understanding of all the roles and responsibility to increase the communication in the organization effectively. It is very essential for employees of Marks and Spencer have effective skills to increase customers engagement in the outlets and increase sales to achieve overall objectives of the company. CONCLUSION This report concludes that it every business need to adopt effective finance, marketing, operation and human resource department to effectively grow in market and gainhigher profit margins.
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REFERENCES Books and Journals Bailey, C and et.al., 2018.Strategic human resource management. Oxford University Press. Khan, S. A., Dweiri, F. and Jain, V., 2016. Integrating analytical hierarchy process and quality function deployment in automotive supplier selection.International Journal of Business Excellence.9(2). pp.156-177. Nwichi, C. K. and Chukwuka, E. U., 2017. Manpower Planning as a Tool for Enhancing the Performance of Public Organisation.Nigerian Chapter of Arabian Journal of Business and Management Review.62(5463). pp.1-8.