Role of Marketing, Finance and HR functions within the company

This report describes the role of marketing, finance, and HR functions within the company. It also discusses collaborative working practices and the role of financial management within the organization.

Business studies

Table of Contents
Introduction....................................................................................................................................2
LO1..................................................................................................................................................3
Role of Marketing, Finance and HR functions within the company...........................................3
LO2..................................................................................................................................................4
Develop an understanding of collaborative working practises....................................................4
LO4..................................................................................................................................................5
Role of financial management within the organisation...............................................................5
Conclusion......................................................................................................................................6
Reference........................................................................................................................................8

Introduction
Business functions are the individual activities carried out by the enterprise, they can
divide Head to core functions and support functions, call function of the business activities are
yield income the production of final goods and services intended for the market or the third
parties (HHaze and et.al., 2018).
This report will cover the case study of Marks and Spencer’s Which isn’t British
multinational retail company who are selling varieties of the product including clothing, food and
home appliances.
This report will describe the role of organisational functions within M&S. It will develop
an understanding of collaborative working practises and Demonise trade and understanding of
the main factors both external and internal which impact on the business. in the end of this report
will demonstrate the knowledge of finance management and reporting with the organisation.
LO1
Role of Marketing, Finance and HR functions within the company
The three most important Department of the organisations are marketing, finance an HR
functions of the company (Luo, Lin, and Zheng., 2019). they play important role for the
company and help company to achieve success in the business. All the function within the
workplace of M&S helping this company to achieve their business objectives and they are able
to take competitive advantages within the market where they are operating their business.
Human resource Department
Human resource Department is responsible to plan, Organise, Control and manage the
workforce for the Marks and Spencer. the recruit and select skilful employees that help company
to achieve their goals and objectives. The practise is run by the human resource management of
the company can help to motivate and encourage employees to give their best in the task which
affect on the company’s productivity and their probability both. they also provide training and
development that is necessary for the employees to increase their work efficiency and also
provide new skills that help employees in career development. This function is also interlinked
with other function of the company becausr when any other function or Department need
employees then they take help of the human resource Department to recruit new skilful
employees for them.

Marketing
Marketing is another most important function of the company that help Marks and
Spencer meet their desirable customer base. Marketing team is responsible to write a message
that can influence customers to buy the product and services from this company and they are also
responsible to research the market to identify the needs and demand of the customers. the
information collected by marketing team has given to the production Department of the company
where they developed product and services according to the needs on demand of the customers.
this function is also interning with the other function of the company becausr each function need
the information of the market and this market information is collected by the marketing team of
the company. Marketing manager also run digital marketing And marketing campaign for the
Marks and Spencer which help to attract new customers and company can achieve higher goals
and their business and achieve their objectives.
Finance Department
Finance Department is another most important function anet is responsibility of the
finance manager to identify the sources of fund within the company. Marketing manager also
ensure the flow of cash for the organisation and make budget for each and every Department of
the company (KorauÅ, and et.al., 2019). this shows that how finance Department help other
functions of the company and ensure the use of resources related to the finance. finance manager
manage the account of the Marks and Spencer and they take decisions of all money spent by the
company and they decide where companies should spend their money or invest their money. In
the decision-making of the company finance manager of the Marks and Spencer play important
role and take participation and make strategies for the company.
LO2
Develop an understanding of collaborative working practises
Collaborative practises within the workplace can help business to achieve their goals and
objectives effectively and the biggest factor contributes to the success have any businesses
whether or not its employees are able to perform together in a team (Ajmal, Helo, and Kassem.,
2017). it is necessary for the managers and leaders of the Marks & Spencer company to
Organise a collaborative practises at their workplace to enhance productivity and profitability of
the company. Working in a team enable employees to work more quickly and effectively in task.

our individual person can take time to perform any task but when they work in a team they can
work more effectively in less time and they also get.
Benefits of collaboration
Pulling the strength and talent
Email beam collaboration employees I enable to utilise the experience, knowledge and
skills of other employees involved within the task. what is the employees who are working
within the group struggle with the presentation skills but might know all about the technical
aspect involved effectively collaboration will allow all the members to share their talent and find
the most optimal solution in every problem.
Development of employee skills
Collaboration is mutually beneficial for both company and the employees, it is because
when the employees of the Marks and Spencer Work in a team, they interact with the knew
thoughts and ideas, and they get knowledge about how other work they think and operate their
task. This give workers a chance to pick up new skills from their team mates and built their own
strength.
Speed up solutions
Collaboration is enable the speed of doing work, employees can work more effectively
and with a speed An if the team members get in trouble then they can together come up with the
speech solution more effectively and within the last time. it also increased the thinking power of
the employees who are working with the team and it is beneficial for the Marks and Spencer they
get new ideas and knowledge from their employees (Choi, Chan, and Yue., 2016). This is how
collaborative working practises can be helpful for the company and employees both and help
Marks and Spencer to achieve success within the market where they are operating their business.
LO4
Role of financial management within the organisation
finance is the most important part of the Marks & Spencer. It is necessary for the
company whether profit making or otherwise to sustain themselves for the long without proper
finance. it is necessary for the company to have a proper finance within their organisation to run

day to day activities and cash will be required each and every function of the company (Butner
and Ho., 2019). this responsibility of the finance manager to manage the funds effectively so
company can when their functions for a long time. financial management refers to the efficient
planning and effective organising, controlling our financial activity an processes of the Marks &
Spencer.
Major role of financial management
Financial decision and financial management and financial manager please Mississippi
roll in making the decision related to the finance within the Marks & Spencer. The financial
manager of the company make use of the tools an techniques like ratio analysis, profit and loss
analysis and financial forecasting which is necessary for the company to achieve future related
goals.
Financial planning
The finance manager of the company are responsible to plan activities related to the
finance and resources of the Marks & Spencer. The identify they need and requirement of
finance for the company and make available from the market to run companies function. They
make plan according to the economic situation and give required budget according to the
function within the company. some of the functions like production Department need high
budget and some of them need lower budget.
Capital Management
Capital Management is the responsibility of the financial management to estimate how
much capital is required for the company to run their activities for the long time. finance
manager is responsible to arrange refunds for the company through various methods like, they
find out the investors who can invest in the company, banks loans and many more options, they
used to arrange funds for the Marks & Spencer.
Cash flow management
It is extremely necessary for the Marks & Spencer to have control and manage their cash
flow within the business. Manager have to ensure that organisation have the sufficient working
capital and cash flow to meet the operational expenses and emergencies within the business

(Steel., 2016). The financial management tools track the amount which is payable for the
company and receivable for the company to ensure there is sufficient cash flow available all the
time which is required to run operations within the Marks & Spencer whenever it is required.
Conclusion
As per the report has been described the role of organisational functions within M&S. It
has been developed an understanding of collaborative working practises and Demonise trade and
understanding of the main factors both external and internal which impact on the business. in the
end of this report has been demonstrated the knowledge of finance management and reporting
with the organisation.

Reference
Books and journals
Luo, S., Lin, X. and Zheng, Z., 2019. A novel CNN-DDPG based AI-trader: Performance and
roles in business operations. Transportation Research Part E: Logistics and
Transportation Review. 131. pp.68-79.
Hazen, B.T. and et.al., 2018. Back in business: Operations research in support of big data
analytics for operations and supply chain management. Annals of Operations Research.
270(1-2). pp.201-211.
KorauÅ, A. and et.al., 2019. Using quantitative methods to identify insecurity due to unusual
business operations. Entrepreneurship and Sustainability Issues. 6(3). pp.1101-1112.
Ajmal, M., Helo, P. and Kassem, R., 2017. Conceptualizing trust with cultural perspective in
international business operations. Benchmarking: An International Journal.
Choi, T. M., Chan, H. K. and Yue, X., 2016. Recent development in big data analytics for
business operations and risk management. IEEE transactions on cybernetics. 47(1).
pp.81-92.
Butner, K. and Ho, G., 2019. How the human-machine interchange will transform business
operations. Strategy & Leadership.
Steel, R.S., 2016. The underground rulification of the ordinary business operations
exclusion. Colum. L. Rev.. 116. p.1547.