Functionality of Businesses: Marketing, Finance, Operation, Human Resource
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This article discusses the functionality of businesses, including marketing, finance, operation, and human resource, with a focus on how Marks & Spencer uses these utilities to provide high-quality products and services to its customers.
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Marketing, Finance, Operation, Human Resource
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Table of Contents INTRODUCTION..........................................................................................................................3 TASK..............................................................................................................................................3 CONCLUSION...............................................................................................................................4 REFERENCES................................................................................................................................5
INTRODUCTION Organization practicality are referred to the proper arrangement of sources in appropriate manner to navigate our daily activities. The functions include the basic or supportive activities criteria such as marketing, financing, operating/ production and human resource(Ross, Beath and Mocker, 2019). Marks & Spencer also using these utilities for providing high attributed product & services to the existing as well as new customers to increase their value and growth in the marketplace. TASK FUNCTIONALITY OF BUSINESSES : The role of marketingin any concern includes the promotional, awareness about their customers and finding out the best target market in mercantilism area. Marks & Spencer also fulfil their objectivity by maximise their sales of goods & services by providing satisfaction to the customers. The company's main act to play is to collect the valuable feedback from all the consumers by market research through different surveys. The importance of marketingis connect with firm's aim is to provide realibility and quality products to the consumers so that they can create monopoly and Goodwill in the external field. Market-research and targeting the fresh ones to establish the crisp-user society. By doing these activities, they are finding the stability in the marketplace by calculate the earning-revenue geneation lead(Giles and et. al., 2021). The role of financeactivity includes the arrangement of financial records, distributing them, and collecting effective summaries by financing statements. Marks & Spencer also using this action for effective running in the market by keep tracing of all the incomes, expenses, gains and losses at one place. If the company's reserves some funds for future investments So it will also helpful for expansion of their business. The impotance of financeis to take actionable claims taken to establish the secure stablity in the inside as well as outside the market. Marks & Spencers shows transparency in working assessment to influence inside members to be part of the firm and it's profitability. And to maintain the outsiders belief & trust in them by furnishing extreme productivity.
The role of operationsis the key actions of any organization which is based on the productivity level by using raw materials and ends with final results of the product. Basically, it depends upon the firm's demand & supply performa. Marks & Spencer also doing this by recreating and new inventions in their production for the traditional as well as the fresh young generation for maintenance of their brand image in day-to-day life(Syam and Sharma, 2018). The importance of operationsis to aim the productive functions to recreate, design and establish different market as marks & spencer did. The M&S provides customers their newly launched innovative designer clothings for satisfying their purchasing needs and influence more people for grow their market share. Marks & Spencers enhance their technology, workforce and management at workplace for improvement in the previous tasks. The role of human resourcegenerally involves proper and accurate management of people with high empowerment in the workforce. Marks & Spencer also filtering the internal resource needs, wants and skills for providing work to the right person which will they performs effectively and appropriate manner. The company also updated with the high range of technical levels to train the employees for being innvoative and highly productive(Dzuranin, Jones,and Olvera, 2018). The importance of human resourceensures the insiders by giving them proper training and suitable place of working to establish the effective results in consideration to the firm's management. This gives more power and growth in the production level because the workforce is being satisfied by the organization. Linkage between all the functions: Any organization with various activities / departments like HR, finance, production and most importantly marketing areas are inter-linked with each other. To performing these actions together is the necessity of the business for representing smooth runway (Saltman, 2018). To grow in the marketplace, Marks & spencer do such promotional workings to attract people by producing the quality product and services. These tasks only done when the workforce of the firm'sarehighlydedicated,skilledtowardsworkandopportunistictogivetheirbest performance. This become possible only when they have received extreme well-managed
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training & learning from expertees through high-tech facility. These facilities have generated extra expenses, so fund reserves should be maintained earlier for no-stopage in between. CONCLUSION It can be concluded that Marks & Spencer have taken appropriate actions to navigate and designate their business functions by improving and enhancing every step of their functionality. To establishment in the market place and facilitate the share & growth, they have been created their value in each department. This leads the organization at success stage.
REFERENCES Books and Journals Dzuranin, A.C., Jones, J.R. and Olvera, R.M., 2018. Infusing data analytics into the accounting curriculum:Aframeworkandinsightsfromfaculty.JournalofAccounting Education.43.pp.24-39. Giles, A.L. and et. al., 2021. Thirty years of clear-cutting maintain diversity and functional compositionofwoody-encroachedNeotropicalsavannas.ForestEcologyand Management.494.p.119356. Ross, J.W., Beath, C.M. and Mocker, M., 2019.Designed for digital: How to architect your business for sustained success. Mit Press. Syam, N. and Sharma, A., 2018. Waiting for a sales renaissance in the fourth industrial revolution: Machine learning and artificial intelligence in sales research and practice. Industrial marketing management.69.pp.135-146. Saltman, K.J., 2018.The swindle of innovative educational finance. U of Minnesota Press.