Role of HR, Marketing, and Finance in The Body Shop

Report

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Task 1.....................................................................................................................................1
Role of HR within the Body shop.................................................................................1
Role of Marketing within the Body Shop.....................................................................2
Role of Finance within the Body Shop.........................................................................2
Task 2.....................................................................................................................................3
Organisational culture in the Body Shop......................................................................3
Management / Leadership style in the Body shop........................................................4
Task 3.....................................................................................................................................5
Profit and Loss Account................................................................................................5
Balance Sheet................................................................................................................5
Cash flow Statement.....................................................................................................6
CONCLUSION................................................................................................................................7
References:.......................................................................................................................................9

INTRODUCTION
Business studies can be defined as the field of study in management which teaches about
the entrepreneurship and business functions to operate in the real time organizations which
includes various specializations such as marketing, finance, human resource and many more.
Here the organization chosen is The Body Shop, it is one of the leading international cosmetics
company based in UK in 1976. It offers the products such as soaps, face wash, body wash,
cream, lotion and many more. The following discussion is based on the role of HR, marketing
and finance, organizational culture, management or leadership style, profit and loss account,
balance sheet and cash flow statement with proper findings and conclusion in context of The
Body Shop.
MAIN BODY
Task 1
Role of HR within the Body shop
Definition
Human resource management can be defined as the people management in an
organization where staff are managed as per their job profile and working environment in the
company. Employees are considered as the greatest asset in the firm and that is why taking care
of them it an important function in an organization (Stewart and Brown, 2019).
Explanation
Human resource management itself contains various domains and areas in which
employees are managed such as recruitment, hiring, selection, on boarding, payroll, training and
development, compensation, recognition, performance management and termination domains.
This is done in order to satisfy the staff in terms of the job and social life as well (Opstad, 2018).
In context of The Body Shop
The Body Shop Company has adopted the human resource management function in a
strategic manner so that employee turnover can be reduced and retention can be increased. They
encourage employees not only in developing professionally but personally as well in order to
achieve the targets, goals and objectives as per the expectations and planned by the leaders and
managers. For example, at the time of new launching of the product, company has organised an
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event in which the presentation program has conducted in which every employee associated with
the program are asked to give the presentation and this not only had advertised the firm’s
products but also the personal communication skills in the employees.
Role of Marketing within the Body Shop
Definition
Marketing management can be defined as the promotional and advertising activities in an
organization in order to create awareness about the company, products and services in the market
place. Customers attracts towards the products if the marketing activities are attention gaining
and it is basically the buying and selling activities in the firm (Deepak and Jeyakumar, 2019).
Explanation
Marketing management itself contains various domains to perform such as sales activity,
planning activity, data management activity and many more. There are various methods to
market the products and services such as television, newspapers, magazines, radio, social media
marketing, search engine optimization, google ads and many more (Colli and Perez, 2020).
In context of The Body Shop
The Body Shop Company has adopted the marketing management function in a strategic
manner such as they focus on the target markets and value proposition methodology. They
mainly promote the products through the internet via digital or online marketing process because
now a days people are more on the internet rather than the traditional market place (Chernev,
2018).
Role of Finance within the Body Shop
Definition
Finance management can be defined as the budget management and auditing of the
financial statements so that better interpretation and analysis can be done for the future
considerations in terms of profit, losses, revenues, expenses and many more to examine that what
measures must be taken by the company to enhance such budgeting.
Explanation
Finance management itself contains various domains to operate in an organization such
as auditing process, budgeting process, documentation process, data analysis and many more as
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