Role of Marketing, Finance and HR functions within the company

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.