Roles of HR, Marketing and Finance in Business Studies

INTRODUCTION TO
BUSINESS STUDIES

Table of Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
Roles of HR, Marketing and Finance..........................................................................................3
Understanding Of Collaborative Working Practices...................................................................4
The Role of Financial Management and Reporting....................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business can only function when there is a combine framework of all departments
together. Business has to have right strategies but other important factor is work force they have
to make objective be met so that organization can make profit in market. Team work is very
important so that objectives and aims of firm can be met faster and market can be penetrated on a
high level. Human resource has to make sure that functions are being followed and industry is
being able to meet objectives from time to time.
Sainsbury's is a public limited company which has its headquarters in London, United
Kingdom. Number of employees working in this company were 186,900 as of 2018, net income
was £309 million and revenue generation was £28.456 in same year. Number of locations in
which this industry has expanded itself are in 1,415.
Study would consist of role of finance, human resource and marketing in an organization.
Collaborative working within organization so that they can effectively achieve goals and
objectives. Roles of financial management in organization and importance of that factor.
LO 1
Roles of HR, Marketing and Finance
Human Resource Hiring- Human resource of Sainsbury's is an experienced department which is helping
company to get in skilled and expert employees in organization so that they can make
most benefit from that factor (Yoke and Ngang, 2017). It is very important for Sainsbury
to have right employees so that functioning and process of strategies can take place in
company effectively and efficiently. Reward and Incentives- This department helps to motivate employees by giving them
incentives or rewards for hard work they have put to accomplish a target of organization.
Employees must get something more from organization so that they do same effort for
organization again and again.
 Training- It is very important that employees of firm are matching standards of
organization and if they are not then human resource must make sure that they are trained
so that standards of firm can be met.
Marketing