Role of HR, Marketing and Finance Function in Body Shop
Added on 2022-12-01
8 Pages2062 Words134 Views
Finance
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Introduction to
Business Practice
Business Practice
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Table of Contents
Introduction......................................................................................................................................1
Task 1...............................................................................................................................................1
Describe the role of HR, Marketing and finance function in Body Shop..............................1
Task 2...............................................................................................................................................3
Develop an understanding of collaborative working practices..............................................3
Task 3...............................................................................................................................................4
Role of financial management and reporting within the Body Shop.....................................4
Conclusion.......................................................................................................................................5
References:.......................................................................................................................................6
Books and Journals.................................................................................................................6
Introduction......................................................................................................................................1
Task 1...............................................................................................................................................1
Describe the role of HR, Marketing and finance function in Body Shop..............................1
Task 2...............................................................................................................................................3
Develop an understanding of collaborative working practices..............................................3
Task 3...............................................................................................................................................4
Role of financial management and reporting within the Body Shop.....................................4
Conclusion.......................................................................................................................................5
References:.......................................................................................................................................6
Books and Journals.................................................................................................................6
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Introduction
In order to conduct the business operations in an efficient manner, the activities of a
business are segregated as per their nature and are clubbed into the different functions of an
organisation. Dividing the business into different function help the business in working
efficiently and effectively therefore improving the productivity of each functional department.
The Body Shop was founded by Dame Anita Roddick way back in 1976, with the vision of
offering products and services which are cruelty free, ethically-sourced and contains natural
ingredients. Below mentioned report covers the role of different function in Body Shop such as
finance, HR and marketing; detailed understanding of collaborative working practices and role of
financial management and reporting within the company.
Task 1
Describe the role of HR, Marketing and finance function in Body Shop
Marketing function
Marketing department of any organisation plays a crucial role in delivering good and services
from the place of origin to the ultimate user for the consumption with the objective of satisfying
the needs and wants of the target market group (Modak, Kazemi and Cárdenas-Barrón, 2019).
Marketing department in Body Shop helps in establishing meaningful relationship between the
management and customer, as the marketing activities encourage the customer to make an
attempt to try for the product and services offered by the company. Therefore it helps in
establishing the brand image through how the company meets the customer’s demand.
Role of marketing
Conducting and customer research: Prime role of marketing department in Body Shop
is to conduct research about customer such as what are the needs, wants, desires, buying
habits, preferences, choices, and way to meet those needs. Additionally understanding the
market such as potentiality, demand and supply, existing competitors and economic
stability to better conduct production.
Promotion: Marketing department helps the Body Shop in establishing and managing
their brand image in the market (Guyader and Piscicelli, 2019). Promotional strategies
adopt by the company is to build the brand awareness, enhancing company profile,
educating customers and positioning itself in front of customer.
1
In order to conduct the business operations in an efficient manner, the activities of a
business are segregated as per their nature and are clubbed into the different functions of an
organisation. Dividing the business into different function help the business in working
efficiently and effectively therefore improving the productivity of each functional department.
The Body Shop was founded by Dame Anita Roddick way back in 1976, with the vision of
offering products and services which are cruelty free, ethically-sourced and contains natural
ingredients. Below mentioned report covers the role of different function in Body Shop such as
finance, HR and marketing; detailed understanding of collaborative working practices and role of
financial management and reporting within the company.
Task 1
Describe the role of HR, Marketing and finance function in Body Shop
Marketing function
Marketing department of any organisation plays a crucial role in delivering good and services
from the place of origin to the ultimate user for the consumption with the objective of satisfying
the needs and wants of the target market group (Modak, Kazemi and Cárdenas-Barrón, 2019).
Marketing department in Body Shop helps in establishing meaningful relationship between the
management and customer, as the marketing activities encourage the customer to make an
attempt to try for the product and services offered by the company. Therefore it helps in
establishing the brand image through how the company meets the customer’s demand.
Role of marketing
Conducting and customer research: Prime role of marketing department in Body Shop
is to conduct research about customer such as what are the needs, wants, desires, buying
habits, preferences, choices, and way to meet those needs. Additionally understanding the
market such as potentiality, demand and supply, existing competitors and economic
stability to better conduct production.
Promotion: Marketing department helps the Body Shop in establishing and managing
their brand image in the market (Guyader and Piscicelli, 2019). Promotional strategies
adopt by the company is to build the brand awareness, enhancing company profile,
educating customers and positioning itself in front of customer.
1
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