Role of HR, Marketing and Finance functions within an organization

Introduction to Business
Studies

Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY.............................................................................................................................................3
Role of HR, Marketing and Finance functions within an organization.....................................................3
Collaborative Working Practices..............................................................................................................4
Role of financial management and reporting within an organisation......................................................5
CONCLUSION..........................................................................................................................................6
REFERENCES..........................................................................................................................................8

INTRODUCTION
Business studies, within businesses helps in making effective as well as informed
decisions along with a better understanding of the world of business (Boone, Kurtz and Berston,
2019). Not only this, business studies combines the study of finance, accountancy, marketing as
well as economics. The report includes an explanation of the role of HR, Marketing and Finance
functions and the concept of collaborative working practices. There are a number of important
roles that the Human Resources function plays within an organization. Recruitment and selection
is one of the most important roles that the HR function plays within an organization. Marketing
Function also plays an important role in enhancing the overall profitability as well as
performance of the organization. Lastly, there is also an explanation of the role of financial
management and reporting within the organization.
MAIN BODY
Role of HR, Marketing and Finance functions within an organization
Role of HR Function
There are a number of important roles that the Human Resources function plays within an
organization. Recruitment and selection is one of the most important roles that the HR function
plays within an organization. Performance Management is a vital component for any
organization to maintain its performance and ensuring that the employees remain productive
(Cumming and Zhang, 2019). The human resource function manages the performance of the
employees by making sure that there is good leadership, open feedback as well as clear goal
setting. The different tools used for performance management include 360-degree feedback
wherein the managers, coworkers as well as subordinates review the overall performance of an
employee (The 12 Key Functions of Human Resources, 2020). Apart from this, the human
resource function also makes sure that the employers as well as the employees maintain positive
relationships with each other. Rewarding employees for their good performance is another
important role played by the HR function.
Role of Marketing Function