Role of HR in Marketing and Finance, Collaborative Working Practices, and Financial Management in ASDA

This report analyzes the role of HR in marketing and finance, collaborative working practices, and financial management in ASDA, a UK-based supermarket retailer. It also discusses the basic principles of collaboration and the importance of financial reporting in organizational activities.

FY021 Introduction to
Business Studies

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Role of HR in marketing and financial functions........................................................................3
Collaborative working practices in the organization...................................................................4
Role of Financial management and reporting in the organization...............................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business is an activity which is done for the generation of money, with the operations of
buying and selling of products. For the business company requires employees. For the
management of these employees, the department that is responsible is the HR department. The
organization chosen for this project is ASDA. ASDA is a UK based supermarket retailer which
has its headquarters in Leeds. In this report role-played by HR of this company in the marketing
and financial functions in the organization is understood. This report helps in the understanding
of collaborative working practices. This report demonstrates the knowledge about the role of
financial management and reporting in the organization.
MAIN BODY
Role of HR in marketing and financial functions
The Human Resource of an organization is that division which is responsible for finding,
screening, recruiting and training job applicants as well as the administration of the employee
benefits (Yawalkar, 2019). HR plays a very important role in dealing with the fast changing
environment of the business.
In the marketing of ASDA the HR department also plays very important roles. These are
the following with the help of which the marketing of the organization is effected by HR,
Recruitment selection:
As the part of the HR roles of hiring and recruiting, these play a very essential role in
marketing of the organization as well. In order to have the best performance in marketing of the
business, it requires talented and qualified employees. HR department is responsible behind the
recruitment of these employees.
Performance & rewards :
The analysation of the performance of the marketing team is the responsibility of HR.
The HR department analyses the performance which helps in finding out the issues of the
marketing department. Also, by providing sufficient rewards to the organization it is able to
motivate the marketing department (Mulolli, Boskovska and Islami, 2020).
Information and tools :

HR professionals are very important for the marketing because they are constantly
searching for the informations and tools which can help the marketing team to improve their
operations and be more efficient.
Employee relationship :
The HR department is also responsible for the maintaining good relationship with the
employees. This is not just good for the marketing performance of the organization but also in
itself acts as a marketing strategy when the customers feel that the employees in the supermarket
are properly treated (Maheshwari and et.al., 2017).
The role-played by HR in the finance of the organization are,
Purpose :
The HR department is responsible for many of the activities of the business. Finances of
an organization with the help of the Budget plans the purpose of the business activities.
Implementation of the budget planned by the organization can be done with the help of the HR
department.
Change management :
Any changes which the finances have brought up upon the business can effect the
business of the organization. These changes are needed to be properly managed, for which the
role of HR is very important. The HR manages all the departments at once for the
implementation of the change.
Documentation :
Role of HR is very crucial for the documentation of many expenses of that the business
spends. HR is also responsible for the calculation of payments to the employees of the
organization. These documents have different use in the finance department. These documents
are the proof of the entries which are made by the finance department of the business.
Financial decision-making :
There are a few financial decisions which the company makes which needs the
opinion of the HR department. It helps the finance department to have ground level information
about the reality which can be very important in altering decisions.
Collaborative working practices in the organization
A company like ASDA which is a supermarket retail business. This organization has all
kinds of products available in the supermarket. Due to the large range of product and also a huge

business premises collaboration in the business practices also becomes very important for the
business to gain benefit from. Following is what the business achieves by introducing
collaborative practices,
More innovation :
Bringing the people of the organization together for a company like ASDA will help the
company to gain new strategies and process for the purpose of innovation in the business.
Collaboration of the individuals helps the business to improve its productivity and business
operations. With the help of this business is also able to introduce new products as the part of
their innovation (Ferreira, Silva and da Cruz Valente, 2018).
Strong team :
Collaboration means working together, which helps the group to be stronger. Working
together increases the efficiency of the business and also enables the organization to take on
bigger challenges which are said to be very effective. Implementation of collaboration is
considered to be the key of team work. For ASDA team is very important for the management of
their supermarkets.
More knowledgable and skilled employees :
Teamwork and collaboration influences the employees of the company to ensure that they
develop good collaboration with each other. This teamwork is very effective as it does not just
help with efficiency in the business but also helps the business with the knowledgeable and
skilled employees. Collaborative employees some times tend to develop each other with their
own personal knowledge. Thus, collaboration acts as a tool of training and development as well.
Enhanced customers experience :
Introduction of the collaboration in the business and its activities enables it to understand
and develop the employees in many areas. This development in the employees can be said as the
way in which the business is able to improve the customers experience. The improved customers
experience allows the organization build good relationship with the customers. This also helps
the business as marketing strategy without spending any extra cost (Chen and Goodman, 2017).
For the achievement of the good collaboration this company needs to understand the
basic principles of collaboration such as,
Efficiency :

Developing efficiency is very important in the collaboration as it helps the business with
the introduction of productivity in the business.
Trust :
Trust is also said to be very important for the business collaboration as allows the team
members to rely on each other for the work.
Empathy :
It is essential for collaboration to have empathy in the colleagues for understanding the
challenges and also what they are dealing with.
Clarity :
Having clarity amongst each other helps the group to avoid misunderstanding and as a
result have improved collaboration.
Role of Financial management and reporting in the organization
The following are the role-played by the financial management of ASDA,
Rules and management of taxes :
The financial management helps the organization with management of the taxes which it
has to pay. The calculation of the taxes is also the responsibility of the organization. Financial
management is also responsible for the management of the rules and regulations which the
company has to follow in its finances.
Controlling expenditure :
The role of financial management is very important in the control of the expenses and the
cost it incurs. The management of the cost and expenses includes planning of the fixed costs,
altering and changing strategies and operations for reducing the expenses of the business.
Reduction of the cost means more profit for the business (Manu and et.al., 2020).
Measuring success :
Financial management with the help of the tools and techniques like investment
appraisals and capital budgeting help the business of ASDA to measure the results of the
organization. Along with the measurement of the success it also measures the failure and the
activities which are required for improving the areas which helps the business to improve its
operations.
Improving Weaknesses :

For the business it is important to optimize the activities which are needed to be
improved and a weakness has been identified in it. With the help of financial management the
company is able to improve its process and operation to gain strength.
Prediction of Risk :
Financial management are considered to be very capable in the identification of the Risk
which allows the business to plan and ensure that it can over come those risk factors which can
be very negative influence for the organization (Chyrva,and et.al., 2019).
The role of reporting for the organization is to analyse different operational and
performance reports. These reports are able to implement itself for the analysation of the
inventory stock, market analysis, trend analysis, Financial analysis, operational analysis and
performance analysis with their respective reports. The documentation of the business reports is
for the collection of the important survey and purposes of the business. Reporting guides the
business to a strategic decision-making helping the business to ensure its success with
justifications (Melanie, 2019).
CONCLUSION
With the help of this project it can be concluded that there are many factors which affects
the business activities of the ASDA. This project is able to analyse the complete role of
marketing and finance in the organization. In this project the importance and understanding of
collaborative work in the business is explained. This project is also very helpful for the
identification of role of financial management and reporting in the organizational activities.

REFERENCES
Books and Journals
Chen, X. and Goodman, J.M., 2017. The collaborative work of droplet assembly. Biochimica Et
Biophysica Acta (BBA)-Molecular and Cell Biology of Lipids. 1862(10). pp.1205-1211.
Chyrva, O.H.,and et.al., 2019. The role of management in the financial independence of the
region. Tem Journal. 8(2). pp.201-206.
Ferreira, E., Silva, M.J. and da Cruz Valente, B., 2018, September. Collaborative uses of ICT in
education: Practices and representations of preservice elementary school teachers.
In 2018 International Symposium on Computers in Education (SIIE) (pp. 1-6). IEEE.
Maheshwari, V., and et.al., 2017. Exploring HR practitioners’ perspective on employer branding
and its role in organisational attractiveness and talent management. International Journal
of Organizational Analysis.
Manu, B.D., and et.al., 2020. School board efficiency in financial management and human
resource in public senior high schools: An evidence from Ashanti region, Ghana. Int'l J.
Soc. Sci. Stud.. 8. p.79.
Mulolli, E., Boskovska, D. and Islami, X., 2020. The competitive role of human resource
management strategies on SMEs in a transitional economy. International Journal of
Multidisciplinary and Current Research. 8(4). pp.521-529.
Yawalkar, M.V.V., 2019. a Study of Artificial Intelligence and its role in Human Resource
Management. International Journal of Research and Analytical Reviews (IJRAR). 6.
pp.20-24.
Online
Melanie., 2019. why business reporting important for the success of business[Online]. Available
through: <https://www.unleashedsoftware.com/blog/why-business-reporting-is-
important-for-business-success#:~:text=Reports%20will%20provide%20important
%20detail,that%20may%20need%20further%20investigation.>

APPENDIX

Notes-
Pestle analysis
Political factor-
Changes regarding governmental activities and practices that has been conducted by government
bodies may put direct impact on a company performance.

In case of ASDA, UK government decision such as lock-down may put negative impact upon
ASDA productivity, in term of decreasing its sales, productivity, and operational effectiveness.
This decision may lead to decrease number of customers visit within stores as they prefer to buy
anything online, which is convenient and easy to shop, according to preferences and needs.
Economic factor-
Fluctuation regarding unemployment rate, inflation, recession and currency exchange affect
current practices of a company.
For example, low rate of unemployment may put positive impact on performance and
effectiveness of ASDA in term of providing opportunity to hire unemployed people who may
losses their job during pandemic and able to work under budgetary amount of money.
Firm may grab this chance and recruit individual in cheaper rate, which is beneficial for
organization as well as candidates as they may earn money to fulfil their needs.
Social factor-
In recent time, instead of purchasing goods from physical outlets, individual customers using
online sites or platform.
They prefer to do so for several reasons such as it saves their time and money.
This social factor as current market trend may put positive impact on ASDA profitability because
firm may already take initiative to sell its products online, through which it may effort to retain
customers and gain the attention of new. It may provide a lot of benefits to company.
Technology factor-
Technology advancement is one of those technological factors that also contribute to enhance the
performance and profitability of ASDA.
For example, firm may adopt and use digital marketing platforms to promote its venture and
range of products worldwide.
It may help company to gain the attention of profitable buyers and retain potential group of
customers for ever.
With specific marketing source, it may grow continually and effectively within retail industry
where many brands exist and effort to gain competitive edge.
Legal factor-
Due to pandemic, UK and other nations' government may also effort to change their current
regulations and rules regarding corporate world.

It may put negative impact on ASDA, in term of driving the attention of management towards
changing their existing practices and plans to grow.
For example, they may change workplace duty schedule and guide employees to wear mask and
keep maintain social distance.
Due to that, firm may unable to work with all candidates, which may decrease its productivity
extent.
Environment factor-
Government and customers concern regarding environment sustainability may put positive
impact on brand in term of increasing its productivity and providing opportunity to build strong
organizational image in market.
ASDA may also take initiative to be sustainable and conduct ethical venture practices by
reducing its carbon foot print and using recyclable products that save environment from being
polluted in term of air, land and water.
Environment factor by putting positive impact upon company may provide chance to
management to grow rapidly.
Notes-
SWOT analysis-
Strengths-

Skilled employees- Talented and knowledgable candidates is the main strength of
ASDA, which it may use to overcome complicated situations. By having them, firm may take
risk and obtain competitive benefits. Each employee by conducting collaborative practice may
contribute to increase the productivity of firm.
Effective management structure- ASDA may have appropriate management structure
which drive the attention of workers to be productive and become a manageable candidate, who
work harder and better than last few years or months.
Weaknesses-
Lack of promotional activities- The biggest weakness of ASDA is lack of marketing
activities, which may lead to decrease its sales and let organization away from being competitive.
In order to gain competitive benefits, it is essential for company to promote venture and build its
online presence.
Lack of leadership- this weakness may also put negative impact on chosen company in
term of decreasing workers productivity and their efficiency to work. It may also decrease
candidates performance level.
Opportunities-
Technology advancement- ASDA and its management may develop plan to use advance
technologies for several reasons such as to increase productivity, to build strong work force at
workplace and to be competitive within industry against key rivals.
Emerging market trend- when firm consider each market trend into appropriate way, it
may grow and increase its sales even better than other companies that also operate under retail
industry. It includes TESCO, Walmart, Aldi, Sainsbury's, etc.
Threats-
Intense competition- this threat may put negative impact on ASDA in form of putting a
lot of pressure on management to change their current plans and strategies to be competitive and
stay in industry as same.
Pandemic- it is another external factor that posses great threat for supermarket, as it may
decrease profits margin and sales of company and put pressure to be sustainable in industry. Due
to pandemic crisis, firm may experience unexpected challenges.