Importance and Role of Business Functions - Marks and Spencer

This report discusses the importance and role of business functions, focusing on Marks and Spencer. It covers functions such as marketing, finance, production, and human resources.

Business Report

Table of Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY...................................................................................................................................2
Importance and role of business functions.............................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business functions are undertaken as the activity which is being carried out by company in
terms of dividing the suitable functions and core activities. In regard of this, business activities of
an organisation consider suitable productions for the final products which is being supported by
company in order to allow them to facilitate for the suitable business functions (Nair and Reddy,
2021). In order to carry forward this report Marks and Spencer is considered which is a British
multinational company headquarter in London, England and also specialises in selling clothes,
food and home products. The report cover information about the significance of business
functions and their role at the workplace.
MAIN BODY
Importance and role of business functions
Business functions are essential in order to develop suitable products and services to
coordinate and control all the factors regarding the manufacturing and production. For this,
production of suitable products and services are one of the important function of business which
is concerned with prominent inputs such as men, machine and many more. In regard of this, few
functions of business are mentioned in context of Marks and Spencer:
 Marketing: This function is essential as it helps in offering prominent products and
commodities. This function is important in order to enhance the image, sales and
revenues of company as it is the important function which is useful in order to reach
towards several goals and objectives considering their sales and growth (Akter and et. al.,
2020). In regard of this, the marketing department of Marks and Spencer plays an
important role in order to attract customers to target the suitable audience. In this context,
marketing offers the better experience to customers considering the online and offline
shopping to develop brand image of Marks and Spencer for the growth of business.
 Finance: This function depicts the effective use of prominent funds which are essential
for the suitable operations. Funds and finance is the lifeblood of any business which is
useful in smooth running and functioning as it is the basic source to effectively run an
organisation (Alzhrani, 2020). In regard of Marks and Spencer, finance is helpful in terms
of developing their business by considering suitable plans regarding the expansion and
diversifying organisation which is related with growth of company.

 Production: The objective of this function is to suitably allocate the effectiveness
regarding the use of factors which depict the input in manufacturing and also show the
prominent results undertaking the effective distribution of income for suitable factors. In
regard of Marks and Spencer, it is essential in terms of having suitable output in tangible
manner which is being concerned with the effective outcome which is being obtained
from the number of inputs that helps in improving the success and growth of company.
 Human resources: This function is important as it helps in having prominent
development and growth of an organisation and also improve the overall culture of
company (Witell and et. al., 2020). In context of Marks and Spencer, HR department is
important in terms of having effective growth and development regarding the several
functions such as training and development, recruitment and selection, performance
appraisal, managing rewards and many more.
CONCLUSION
By considering the preceding discussion, it is identified that business functions are essential
in order to run company in an effective manner. In regard of this, it is essential for organisations
to have better coordination and collaboration among the various business functions as it helps in
creating value for company regarding its growth and success.

REFERENCES
Books and Journals
Akter, S and et. al., 2020. Transforming business using digital innovations: The application of
AI, blockchain, cloud and data analytics. Annals of Operations Research, pp.1-33.
Alzhrani, A.M., 2020. Outsourcing human resource functions and their impact on organizational
performance. Global Journal of Management And Business Research.
Nair, J. and Reddy, D.B.S., 2021. Leveraging Enterprise Resource Planning Systems to Digitize
Business Functions. In Research Anthology on Digital Transformation, Organizational
Change, and the Impact of Remote Work (pp. 165-190). IGI Global.
Witell, L and et. al., 2020. Characterizing customer experience management in business
markets. Journal of Business Research, 116, pp.420-430.