Role of Various Functional Department in Organization

This report analyzes the role of various functional departments in Bentley Motors Limited and the collaborative working practices within the organization. It also examines the role of financial management and reporting.

Report

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Role of Various Functional Department in Organization............................................................1
Collaborative Working Practices.................................................................................................2
Role of Financial Management and Reporting within Organization...........................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
A business organization consists of various functional departments in order to meet all
the requirement related to its performance in market place.. The role of each functional
department is specific. These all department work in the collaborative manner to full fill business
objectives with high success rate (Buchanan, 2019). Some of the main functional department in
an business organization are- Human Resource Management Department, Finance Department
and marketing department. This report is providing brief of information about functions that are
performed by the HRM, Finance and Marketing department in Bentley Motors Limited. It is a
car manufacturing company, established in year 1919 by H. M. Bentley and W. O. Bentley. The
functional role of various department in Bentley motors Limited will be analysed in the report.
The collaborative working practices of these functional department will be analysed for the
performance of the company. Financial management and reporting will be deeply analysed in the
study.
MAIN BODY
Role of Various Functional Department in Organization
Human Resource Department
Human Resource Department is one of the most important department of organization
like Bentley Motors Limited. There are various activities are performed by the Human Resources
Department to keep the operations of organization profitable. Some of main function of the
functional role of the Human Resource Department are-
Staffing- This is one of the main operation of the Human Resource Management department in or
Bentley Motors Limited. Work force of the organization is managed by the HRM. This activity
of staffing consist of process that is followed by the HRM to meet the work force requirement of
the company (King and Lawley, 2016). This process includes- development of staffing plan,
development of policies multiculturalism in the work place, perform recruitment activity and
selection of right candidate for specific designation in company staff.
Development of Work Place Policies- This is important for the HRM to manage the policies of
organization in order to keep effective workplace culture in organization to maintain positive
environment with in the workplace to motivate employees to perform better. The other
operational [policies also planned by the HRM for the organization. This activity helps the
organization to maintain effective performance in the target market. The process followed in this
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function is- Recognise need of policy, seek ideas for policy, develop policy, communicate policy
and implement policy in operations. This is how this function is performed by the HRM
department.
Compensation, Salary and Benefits Administration- This is role of the Human resource
management to administrate and perform employee management. This is also their role to
provide proper compensation, salary and benefits to employees in order to meet their
requirement. Hrm manages the salary, compensation and reward of employees per the
performance with in the organization.
These are some main functions that are performed by the Human Resources Department
in Bentley Motors Limited
Marketing Department
The role of the marketing department is to manage the image and brand name of
company in the target market. They are also responsible for the relationship between customer
and organization. This is also their role to keep relationship between company and customer
efficient in order to keep them loyal to company (Wilson, 2018). The main function of the
marketing department to perform the promotion of the products and services that are developed
by the Bentley Motors Limited. This promotional help the organization to meet the sales target of
company and improve the consumer base of organization. By performing these activities they
develop loyalty in consumers.
Finance Department
the role of the finance department in the organization is to acquire, manage and plan
funding of organization to keep its operations financial and economic. Some of the main
functions that are performed by the finance department are- Financial control and reporting, tax
and compliance, strategic finance planning, analysis, treasury & Working Capital management
and Financial Risk Management. These activities are performed by the Finance department to
keep operations of the Bentley Motors Limited efficient and free from loss.
Collaborative Working Practices
Collaborative working is generally known as the practice that is performed in partnership
or joint working. For example there are different working departments in the organization and
these all departments work together to meet the business objectives (Ayoko and Ashkanasy,
2019). This cooperation can also be considered as collaborative working. In collaborative
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working the actions and work of various people or departments depends of other department.
This is important for the organization to manage these collaborative working practices efficient
to achieve the company target with high success rate. There are various practices that are
performed by Bentley Motors Limited to generate revenue from business functions. These
activities can also be considered as the practice that are performed by different people or
department for common purpose. There are various activities performed by the business
organization to maintain collaborative working between their business organization. These
activities are team building, communication, business & operation planning and goals setting.
These are some of the most common activities that are performed by organization like Bentley
Motors Limited.
Team Building- Team Building is the most important part of the collaborative working. In this
process an administrative team is formed by the organization and managers to keep the operation
of all department collaborative to meet operational efficiency. For example various departments
of production, marketing, sales, finance and R&D work together as team to maintain the supply
chain of the organization.
Communication- For collaborative working it is important for the organization to maintain
effective communication between functional departments of the organization to reduce the
misleading operation and information to prevent minor and major operational failure (Shapiro
and Hanouna, 2019). To meet communicational goals within organization various technological
channel are implemented between these departments to maintain high effective communication.
Planning- Planning is main part of collaborative practices where all department come together in
an meeting to make the operational plane for future to perform with high efficiency and
accuracy.
Goal Setting- Goal setting is also one of the important activity that is performed by various
department of organization. In this process operational efficiency of each department is
considered by the functional team to set future goals for collaborative working operations.
This is how specific practices that are performed by these departments to gain higher
performance.
Role of Financial Management and Reporting within Organization
There are various functions and operations are performed by the finance department in
order to maintain the economic stability of the organization. These operations are related to the
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investment, spending and operating cost and budgeting of company. Some of the main functions
that are performed in financial management are considered as planning, raising, controlling and
administering of funds (Finkler, Smith and Calabrese, 2018). These all activities are considered
in the financial management that is performed by the finance department.
Planning- This process includes the financial planning for operations of organization with in
market place. This helps them to create overview in order to make budget for company. It also
can help them to plan further investment of Bentley Motors Limited.
Fund Raising- The fund rising is one of the most important task for finance department. Some
times organization need to raise the fund from the market place to maintain effective operation
within manufacturing plant of company. This activity within finance management provide
opportunities to the organization to raise fund from target market to maintain its operations.
Controlling- This is important for Bentley Motors Limited to control the cash flow to maintain
its economic stability inside organization and in market place. This activity is performed by the
organization to control all the financial operations of the company to keep cash flow maintain in
order to reduce failure situation like lack of fund and financial mismanagement.
Administration of Funds- This is one of the most important process that is performed by the
finance department to manage the financial capital of company to maintain its current and future
financial operations (Khan and Jain, 2018). This is how various operations are performed by the
finance department to keep Bentley Motors Limited economically stable.
Reporting of Financial Management
Financial reporting is a process that is performed by the finance department and include
the process of discloser of financial information to the stakeholders of organization who are need
to briefed to keep them loyal to the organization. This is all about telling the financial report,
financial position of organization, profit and loss of company to the stakeholders regularly.
These stakeholders include creditors, investors, public, debt provider and government agencies to
keep operation of organization liable in the market place.
CONCLUSION
This report is concluding functional importance of various departments in Bentley
Motors Limited. Role of marketing, finance and Human resources department has been analysed
and evaluated in the report. The role of various functional department has been studied in the
process. The collaborative working and related practices has been analysed in the report. There
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are some collaborative working practices that are performed with in Bentley Motors Limited has
evaluated and analysed for better performance of company. Financial management activities and
reporting process of finance department has been studied with in the report.
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REFERENCES
Books and Journals
Buchanan, D.A., 2019. Organizational behaviour. Pearson UK.
Wilson, F.M., 2018. Organizational behaviour and work: a critical introduction. Oxford
university press.
King, D. and Lawley, S., 2016. Organizational behaviour. Oxford University Press.
Ayoko, O.B. and Ashkanasy, N.M., 2019. Organizational Behaviour and the Physical
Environment.
Shapiro, A.C. and Hanouna, P., 2019. Multinational financial management. Wiley.
Finkler, S.A., Smith, D.L. and Calabrese, T.D., 2018. Financial management for public, health,
and not-for-profit organizations. CQ Press.
Khan, M.Y. and Jain, P.K., 2018. Financial Management: Text, Problems and Cases. 8e.
McGraw-Hill Education.
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