Role of HR in Marketing and Finance Functions

Introduction to Business
Studies

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Role of HR in marketing and finance function within organization........................................3
2. Understanding the collaborative working practices................................................................4
3. Role of financial management and financial reporting of the organization............................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business Studies is defined as the study which consist of the business tactics and the
different forms of working of business. McDonald's is America's fast food chain which is
widespread and largest in the world. Its main function is to deliver food products in variety. The
following report will describe the role of HR in marketing and finance functions with
collaborative working practices and demonstrate the role of financial management and reporting
within the organization (Mayorova, 2020).
MAIN BODY
1. Role of HR in marketing and finance function within organization
Human Resource is the department in charge of all employer – employee related
operations. HR of the company looks after different operations of the company and focuses on
the business functioning processes of McDonald (Wang, Werner, Sun., and et.al., 2017).The role
of HR with reference to McDonald Company is -
Role of HR in Marketing Function – The HR builds such relationships which foster the
employee – employer relations which helps in building the company's business structure and
overall market structure (Galanaki, and Lazazzara, 2016). HR and marketing can be reinforced
together through marketing strategies the company follows for its brand through social
networking and the technological advancement. HR of the company aligns the external and
internal market environment which leads the growth and progress of the company along with the
activities which take place in the newer forms to develop efficient strategies and work on the
loop holes. HR also looks after the employee's performance and directs them towards improving
their loopholes and in this both HR and employees of McDonald company work towards an
integrated strategy. The marketing department indulges in various functions like branding,
planning, making strategies, marketing mix of the food chain involved etc. and this comes with
the fact that HR ensures that the employees of the company work for the achievements of the
target formed.
Role of HR in Finance Function – HR of the company is more concerned with the financial
status the McDonald's company go through as there are always ups and downs in the financial
statements that have been produced every year which also reflects the growth of the company.
HR of McDonald's combines all resources and places them with the right skills and
competencies at the right positions by assigning right people to achieve those goals or targets.