Role of Different Organizational Departments in Business

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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Role of different organizational department................................................................................3
Understanding collaborative working practices..........................................................................4
Demonstrate an understanding of the main factors both internal and external impact to the
business. ......................................................................................................................................4
Demonstrate knowledge of role of financial management and reporting within the
organization. ...............................................................................................................................6
CONCLUSION ..............................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
The business studies refer to the subject which states about the key concepts pertaining to
the various departments of business. In this report, M&S is taken as an organization which is a
large retailer in UK market offering wide range of products. This report provides an insight
about the roles of Finance, human resources and marketing, understanding collaborative working
and the role of financial management and reporting in an organisation.
MAIN BODY
Role of different organizational department
There are different functional departments in an organization each having it own roles which are
stated.
Role of HR: The human resource department of an organization works on managing the work
force of an organization. Its main job is to recruitment the right employee with the required skill
sets (Cascio and Graham, 2016). Along with that, the HR department works on providing
training and development sessions to its employees which will helps in making the employees
familiar with the job which consequently leads to motivating the employees towards works and
also implementing attractive rewards and incentives for employees for boosting their morale.
The HR division of the M&S is effective which results into timely meeting up with the business
requirements.
Role of Finance:
The finance department works on ensuring that the company is having sufficient amount of
funds for the purpose of meeting with the daily requirements of the business. It creates budget
which is useful in effectively allocating sources to the various projects of the organization. In
M&S, the finance division undertakes the responsibility of forecasting the financial figures of
the company based on which the strategies are formulated.
Role of Marketing:
The marketing division works on building up the good relationship with the customers
and the organization which helps in effectively selling out the products and services (Edeling,
Srinivasan and Hanssens, 2020). In M&S, the department works on various aspect like
undertaking market research, implementing promotion and branding activities and so forth.
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