Introduction to Business Studies

Introduction to business studies
Table of Contents
INTRODUCTION...........................................................................................................................3

MAIN BODY...................................................................................................................................3
Develop an understanding of collaborative working practices..............................................3
Describe the role of HR, Marketing and finance functions within organisations..................3
Demonstrate knowledge of the role of financial management and reporting within the
organisation............................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................6

INTRODUCTION
This report including that scenario by which various kinds of facilities is given. It
determines strategic planning and vision of business organisation. It also offers description in
respect of internal as well as external factor that enforces direct influence on functions and
activity of company. It provides the description or explanation in respect of role of finance, HR
and marketing of organisation. In assistance of this, there is also an explanation in respect of role
of management of finance within organisation. The present report is carried upon company
named as IKEA. It is international groups of Swedish organisation located in Delft, Netherlands
that helps n providing different kinds of products such as home accessories, kitchen appliances to
its user (Canning and Szmigin, 2016).
MAIN BODY
Develop an understanding of collaborative working practices
It is necessary to develop an understanding working practices adopted by IKEA that is
going to be mentioned below:
Create a clear and compelling cause: To generate cohesion, the member of team must be
offered along with a convincing reason that is a considered as a part of mission of organisation.
Therefore, it is necessary to clear the cause in order to perform different work with its team
member that helps in achieving goal in timely manner.
Communicate Expectations collaboration help in communicated expectation of
management team to its team member during particular phase of time period that help in
maintaining appropriate relationship between them.
Establish team goal the manager focuses on establishing goal in order to achieve it in
timely manner in future period of time.
Describe the role of HR, Marketing and finance functions within organisations
Role of HR
The HR manager is significant for success as well as growth of business organisation.
The main purpose of HR manager is to recruit competent and knowledgeable staff member for
success of business organisation. It is important to hire applicant that help in achieving goals as
well as objective in pre-decided period of time. In assistance of this, the offer training session to
its staff member for increasing their skill that help in retain them for longer period of time. It