Collaborative Working Practices and Internal and External Factors Impacting Business - Desklib

FY021 Introduction to Business
Studies

Task 1: Internal and external
factors which
impact on business

Concept of collaborative
working practices
Collaborative working practices within organization describes the combining activities of each and
every department of the firm which means that all the domains of the company are working together
and are interdependent on each other for their own personal job roles also. For example, the
collaboration between human resource and marketing departments are such that if HR don't hire the
employees who are expertise in sales and marketing functioning then marketing departments will not
be able to wok well as per the expectations. If marketing is not done properly of the brand then less
number of people will be willing to apply in the company for the job post. Thereby, affecting both the
departments even if only one is not functioning in a proper manner. Similarly, collaboration between
marketing and finance departments are such that if marketing people are doing expenses more than
the set budget by the finance people than then there will be the shortage of funds. If finance people
did not forecast the budget properly then marketing people will face difficulty in spending on the
marketing activities. Thereby, affecting both the departments even if only one is not functioning in a
proper manner. Collaboration between finance and human resources are such that if HR people are
not able to hire the knowledgeable candidates for finance then it ca affect the financial management
as a whole. If finance people did not report the proper budget to the HR people then hiring expenses
can cost more than expected. Thereby, affecting both the departments even if only one is not
functioning in a proper manner. Collaboration between the research and development department
and information technology department are such that if IT people will update and advance the
technical devices in the company then it will be difficult for the R&D people to innovate new ideas
within organizations. If R&D people are not able to innovate by optimum utilization of IT resources
then it can go waste with lots of expenses. Thereby, affecting both the departments even if only one
is not functioning in a proper manner (Colli and Perez, 2020).