Role of Marketing, HR, and Finance Functions in Companies

INTRODUCTION TO
BUSINESS STUDIES

Table of Contents
INTRODUCTION...........................................................................................................................3
The role of marketing, HR and finance functions within companies..........................................3
Understanding of collaborative working practices......................................................................4
Role of reporting and financial management within Primark company......................................5
One part of marketing mix...........................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business studies is report of management and economics, it is considered as study of
work connected with cash and managing business. The present report is based on Primark, it is
one of the most famous fast fashion retailer in UK. Organization opened their current
international head office in redeveloped Dublin Building, formerly Chapel house. It has
operations in Europe and US, where large number of consumers purchasing their products. This
study explains the role of business functions like marketing, finance and HR. It justifies
importance of collaborative working particles and role of reporting & financial management in
context of firm. Furthermore, this report also clarifies one part of marketing mix.
The role of marketing, HR and finance functions within companies
Marketing-
Within organizations, marketing functions include producing the best marketing plan,
performing market research, product development and strategically overseeing promotion &
advertising, distribution for sales, consumer services as well as making public relations
(Martensen and Mouritsen, 2017). The role of marketing is to sell services or products and
generate awareness about both of them within marketplace through different types of marketing
activities. It includes packaging, promoting, researching and presenting goods to target
consumers. Marketing department within companies plays their effective role, they conduct
research on base of target market, focus on purchasing trends and look for things that meet with
current needs of customers. For instance, clothing and food retailer always want to stay on top of
upcoming trends in different season's to know what goods to centring on in marketing
advertisements. At that movement, market research conduct by marketing department work
perfectly, it needed checking out business competitors. Along with this, it plays so many role in
businesses, as they are able to perform effectively. For example, marketing function role in wider
companies is to create value for consumers & its company.
Human resource function-
It is considered as one of the most essential function in organizations, human resource
department charged within recruiting, finding and training workers (Francis, 2016). The role of
HR section is to handle the range different functions or activities within companies such as
hiring skilled labour, maintaining inter office relationships, training existing employees and
interpreting employment laws. The major role, played by human resource department is to assure