Importance of Business Functions in Unilever

INTRODUCTION TO
BUSINESS

EXECUTIVE SUMMARY
Business is form of economic activity which help nation to improve development and
facilities for its citizens. This report discusses importance of various business functions of
Unilever to improve quality of decision making.
TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
Role and Importance of Different Departments..........................................................................3
Importance of Teamwork............................................................................................................4
Importance of Financial Management.........................................................................................5
Purpose of Reporting...................................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Business is very essential aspect as it increases the economic activities to grow and
develop nation effectively. It also provides better opportunity to society to increase their standard
of living and improve the productivity to achieve objectives effectively. This report discusses
importance of departments in Unilever which are present in businesses; importance of teamwork
is also explained. In addition, report also highlights the importance of financial management and
reporting to grow business and compete in the market effectively.
Role and Importance of Different Departments
Increase in the demand of customers in the market business has to divide their functions
into different department which helps to increase the efficiency of decision making (Barr and
McClellan, 2018). This also helps organisation to make effective strategies to reduce the risks
and gain higher profit margins effectively. Unilever is multinational organisation dealing n
consumer products which are directly used by end consumers.
Marketing Department
Marketing is the combination of different activities which business conducts in order to
understand customer’s needs and wants to develop effective strategy and increase sales of the
company. Marketing department has the role to perform all these activities which helps to
increase satisfaction level of customers and increase profit margins effectively (Rasool, 2017).
Unilever is very reputed and powerful brand in the world due to marketing department increased
company’s brand image in the global market which helps to expand in new market very easily.
Marketing department is also responsible to promote products and services of the company and
aware customers about the vision to make them loyal effectively. Marketing department of
Unilever has also ensured the standardisation of quality which improved the goodwill in the
market and attracted more investors to grow company efficiently.
Finance Department
Finance department is fundamental necessity of every business as it helps to manage all
the monetary transaction and forecast cost and opportunities according to available resources to
increase the efficiency of the business effectively (Chandra, 2017). Roles of finance department
in Unilever is bookkeeping which helps to record all the transactions on daily basis and ensure
the usage of financial resources in the company. It also helps to develop budgets for the entire